If it sustains for sometime and has low volume and started to move down slow and steady sell after 15 min candle stop loss will be minimum
See it was spending sometime around 2110, before breaking out above, but got resistance at around 2120.
Exposure of loss = 1% of the capital (160)
set stop loss on a specific position in order to know what is the strategy and don’t close it before the stop loss is hit because you do not know if the strategy is working (given a volatility)
a stop-loss will be determined by the time you want to hold the position and volatility for example see EURUSD or BTCUSD (so BTCUSD will close
TODO:
Create patterns in MQL5/ Python
for strategy testing, before putting real money
draw the line to identify support and resistance
You have to find an edge , by finding an inefficiency in the market.
Then do a backtest to confirm the strategy
Mostly people are trend following because people behavior is like an animal herd
SAR Technique
A SAR trader always has a position in the market, either on the long side or the short side. Within
SAR I am a breakout trader, which means I will continue to be on the long side of the trade unless
support is broken on the downside. I will then reverse my position and will be trading on the short side
till resistance is taken off. Then again, I will go long in the market.