Ripple (XRP/USD) Daily Trading Range
Entry Rules:
Trade Management:
These are my trade management rules, use whatever rules you prefer.
For more information about my trade management, go to: [url= youtu.be/-v3-XN62y4o] youtu.be/-v3-XN62y4o
- Buy Ripple on a daily close above 0.47744 or Sell on a daily close below 0.28440
- Volume on the breakout candle must be at least average volume to trade full size
- If it doesn't reach the average volume, but reaches 75% of the average, use 1/2 size position.
- If the volume doesn't reach 75% of the average, stand aside.
- Stop loss is 1.5 x ATR on the breakout candle.
- First target is 1 x ATR on the breakout candle.
- Risk 2% of your account on this trade.
Trade Management:
- If, after entry and before first target, a candle closes back in the range, close the trade.
- On first target, close 1/2 of the position and move stop loss to break even on the second half.
- Follow stops as the trade moves in your direction and let the market take you out.
These are my trade management rules, use whatever rules you prefer.
For more information about my trade management, go to: [url= youtu.be/-v3-XN62y4o] youtu.be/-v3-XN62y4o
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