How to trade my levels

I do the analysis in the free software Ninja Trader 7. Because Forex is not a centralized market, I'm trading futures for individual currencies. So, if I want to trade for example: EURUSD, I'm following the 6E market. The actual trading orders are entered via the platform by Brooker directly to the Forex market.

Stacks Image 9

At all levels I have set notifications at a distance of 5 pips. When the market approaches the level, everything else goes sideways and my attention moves to the screen. In this area, I watch the market behavior. It is important that the market does not go too fast nor too slowly.

If market goes to the level without a hint of deceleration, I do not enter blindly after the level hit. I wait for a response in the form of an increase in order volume. Also SL is 1-2 ticks further than normal. The reason is that the market needs some space to stop and turn at such a speed.

Because in my intraday trades my goal is 8-15 ticks, there is usually not much time to hesitate. When the market confirms the level by movement, it is usually too late to enter. To confirm the interest of big players, I use Tape reader and Order flow visualizations. On the level I want to see increased activity that tells me that I'm not alone, who thinks the level is the right place to enter.

After entering, I get to position management. In my trading system I have a defined where I close part of the position, when the whole position and when I wait until the target is hit. Each trade is unique and therefore it must have defined rules that serve to manage our own psychology under pressure.

Profit target is usually at the same distance as Stop loss = RRR 1:1
Don’t trade 10 minutes before and after economic statements relating to the traded currency pair.