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    Daytrade Master Indicator: Entry Setup

    Uploaded by

    yaxa
    The Daytrade Master indicator provides simple buy and sell signals for day trading. It plots blue and red boxes to indicate short-term trends and signals are given by blue or red dots inside the corresponding colored boxes. Trades have a minimum 1:2.5 risk to reward ratio and use small stops. The indicator is combined with the ChartCycles indicator to filter for high probability trades with an expected winning ratio of over 80%. Exits are taken at target lines, stop losses, or at the end of the US session if neither is hit. Money management recommends risking no more than 2-3% per trade and entering as close to the bottom of boxes as possible for the best risk to reward ratios of up to 1

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    © All Rights Reserved
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    Daytrade Master Indicator: Entry Setup

    Uploaded by

    yaxa
    471 views7 pages
    The Daytrade Master indicator provides simple buy and sell signals for day trading. It plots blue and red boxes to indicate short-term trends and signals are given by blue or red dots inside the corresponding colored boxes. Trades have a minimum 1:2.5 risk to reward ratio and use small stops. The indicator is combined with the ChartCycles indicator to filter for high probability trades with an expected winning ratio of over 80%. Exits are taken at target lines, stop losses, or at the end of the US session if neither is hit. Money management recommends risking no more than 2-3% per trade and entering as close to the bottom of boxes as possible for the best risk to reward ratios of up to 1

    Original Description:

    Day Trade your way to riches

    Original Title

    Day Trading

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    The Daytrade Master indicator provides simple buy and sell signals for day trading. It plots blue and red boxes to indicate short-term trends and signals are given by blue or red dots inside the corresponding colored boxes. Trades have a minimum 1:2.5 risk to reward ratio and use small stops. The indicator is combined with the ChartCycles indicator to filter for high probability trades with an expected winning ratio of over 80%. Exits are taken at target lines, stop losses, or at the end of the US session if neither is hit. Money management recommends risking no more than 2-3% per trade and entering as close to the bottom of boxes as possible for the best risk to reward ratios of up to 1

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    471 views7 pages

    Daytrade Master Indicator: Entry Setup

    Uploaded by

    yaxa
    The Daytrade Master indicator provides simple buy and sell signals for day trading. It plots blue and red boxes to indicate short-term trends and signals are given by blue or red dots inside the corresponding colored boxes. Trades have a minimum 1:2.5 risk to reward ratio and use small stops. The indicator is combined with the ChartCycles indicator to filter for high probability trades with an expected winning ratio of over 80%. Exits are taken at target lines, stop losses, or at the end of the US session if neither is hit. Money management recommends risking no more than 2-3% per trade and entering as close to the bottom of boxes as possible for the best risk to reward ratios of up to 1

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    DAYTRADE MASTER INDICATOR

    In this page I will be explaining how you can use the daytrade master indicator.

    Features of this indicator:

    • All trades have at least 1:2.5 risk reward and up to 1:6.

    • Small stops on all trades

    • High winning ratio when used with the right filtering indicator (ChartCycles is included)

    First Step Install the indicator in your MT4, Check the reference page for detailed
    installation. As a quick reference: Add the Daytrade Master indicator and ChartCycles
    indicator to the indicators folder and the Daytrade template to the templates folder under
    File/Open Data Folder/templates in Metatrader.

    Second Step apply the template Daytrade Master to your MT4 charts.

    Third Step take trades with proper money management, that is don’t gamble your money
    and trade properly, remember if you make just 3% per day, you will double your account in a
    month when you compound the profits.

    Entry Setup
    Now the trades are very simple to find. There is one setup you need to find. This setup
    consists of a blue dot in a blue box for Buy entries and a red dot in a red box for Sell entries.

    Use the 15 M or 30M time frame with the ChartCycles indicator to find daytrading
    opportunities.
    Buy Entry: Blue dot in Blue box.
    If the blue dot is before the formation of the blue box, then ignore the signal. The best signals
    are when the blue dot is inside the blue box and the same for the red dot inside the red box
    for sell signals.
    The DTM will plot the boxes automatically according to the short term trend in the market.
    A red box means look only for Selling opportunities. A blue box means look only for buy
    opportunities.

    Exits
    To exit a trade there are 3 simple exits:
    • Exit at Green line target
    • Exit at Red line stoploss
    • Exit at end of US session if none of the stoploss or target has been hit.
    • Exit if a reverse dot appears.

    Money Management
    Make sure to never risk more than 2-3% of your trading capital on any single trade. To increase
    your chances of making more profit try to enter as close to the bottom of the blue box as
    possible. If you enter at the top of the box the Risk:Reward ratio is 1:2.5 and if you enter at the
    bottom of the box the Risk:Reward ration is 1:5.7. This is a very important information cause it
    means if you enter at the top of the box you can win 3/10 trades and breakeven, and if you
    enter at the bottom of the box you can win 2/10 trades and breakeven. If you follow the simple
    trading rules above you should win over 8/10 trades. Its simply a blue dot in a blue box to
    enter a trade.

    Other strategies with Daytrade Master

    If you want to find more trading opportunities, you can trade with the Daytrade Master
    indicator along with your other trading strategies, such as the Harmonic patterns or TMA on
    Hourly Charts. These however need that you have more trading experience, but just wanted
    to tell you that you can use Daytrade Master indicator with other strategies to have more day
    trade candidates with proper Risk:Reward at least 1:2.5

    Remember to never chase prices outside the box, and wait for the price to be inside the box
    to get the best RR ratio. You will get the best entry at the dark blue line. Risk Reward is 1:6.
    Working with Daytrade Master indicator
    You can change the time to start the trading zones in the inputs of the indicator.
    GMT shift will depend on broker time. If your broker time is GMT+2, then use 2 here.

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