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Nikos Renko Bar Spartan Trading Workshop
Salepage : Nikos Renko Bar Spartan Trading Workshop
Archive : Nikos Renko Bar Spartan Trading Workshop Digital Download
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Step 1 Strategy Guidelines:
We always trade in the direction of the 21st EMA. If the price rises above it, we are searching for long trades, and if it moves below it, we are looking for short transactions.
We always picked Forex pairings with spreads that were ideally less than 2 pips.
We’re aiming for a trend continuation candle setup, or TC setup.
We always trade the setups all at once with a stop loss of 10 pips + spread.
The size of the stop plus 1 or 2 pips is our aim (12-13 pips profits). We immediately close the transaction and hunt for the next opportunity.
We only trade one Forex pair with high volatility for 1-3 hours, ideally at the London, US, or Asian open.
Step 2: Trade Management Regulations:
We setup a $100,000 sample account in order to “feel” the fantastic money.
We always begin with half of a tiny lot (0.05 lots).
If we win our initial deal, we will proceed with a half-mini lot.
If we lose a trade, we trade with 1 mini lot on the following signal, and if we lose again, we trade with 2 mini lots. We will continue to quadruple our positions in this manner until we reach 32 mini lots (7 trades). If we lose for the seventh time in a row, we immediately stop trading and examine our charts.
We have either done something incorrectly or failed to notice a range early enough. Important: If we start trading with 0.05 mini lots on our first deal and lose, we will continue with 0.10, correct? Assume we win this second trade and that the position is now closed. You made one winning deal and one losing trade.
You really got profits since you ended the second attempt with winnings and quadrupled your risk from 0.05 to 1 mini lot (you lost 10 pips with 0.05 lots and made 10 pips with 0.10 lots… So you lost 5 pips but rapidly gained 10. 10-5…in this case, you made 5 pips!
When we conclude a trade with profits throughout this exercise, we term it a “trade set”! The aim is to close as many trade sets as possible in as few as seven attempts!
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