BUY STOP GBP/JPY @ 143.72 SL 143.32 TP1 @ 144.22 TP2 @ 144.75
You need to enter BUY STOP when the current price is BELOW the Entry Order, safer price is 10-20 pips below. Then set the SL and TP1 first. TP2 only set when current price is not move below earlier entry point.
* SELL STOP is vice versa.
How to make pending order using Metatrader?
Press F9 >>
Change 'Type' from Instant Execution to Pending Order.>>
Select Pending Order 'Type' either Buy Limit/Stop or Sell Limit/Stop >>
Adjust 'at price' (Entry Point) >>
Select suitable Volume with your margin >>
Put Stop Loss dan Take Profit >>
Click 'Place'
MetaTrader Platform Overview
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What you need to do after receiving the signals?
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Set the Pending Order first and put Entry Point, Stop Loss, Volume and Target Profit. Pending Order validation is for one day only.
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Wait untill the target Entry Point taken.
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Don't be rush to do Instant Executions when the target Entry Price missed. DO AJUSTMENT 5 to 10 pips to take 2nd chance (advice for experience traders only). This will help you maximize the profit. Apply BUY at the LOWEST and SELL at the HIGHEST.
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If your Entry Point taken, wait untill the target profit done or you may set Trailing Stop when in profit position to secure your profit.
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Don't Cut Loss when you are in loss position. The TP will normally achieve but need time and patience. You are advised to check RSI indicator timeframe M30 to exit or enter the market.
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If you Stop Loss is taken, don't be rush to entering the market again. Wait our next signals.
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Set suitable Leverage and Volume with your level of experience and capital.
ENTRY AND EXIT STRATEGY
Example of BUY LIMIT Scenario
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Figure 2.1
When Stochastic is below 20 marker, it safe to BUY. (in this case, we use TF M30). Figure 2.1 shows reversal point when Stochastic below 20. You may do adjustment to wait until Stochastic reach the lowest.
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Figure 2.2
Figure 2.2 shows Stochastic reach 80 market. This is normaly your TP#1. You may exit here or waiting TP#2. At this stage, you may apply Trailing Stop.
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Figure 2.3
Figure 2.3 shows Stochastic reach 100 market. You may exit at TP#2 and we suggest all trader to play safe. When reach TP2, better to wait another signal or just relax with profit.
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It is not safe for you to wait another profit if Stochastic has down below 80. You may loss when reversal trend happened.
TIPS :
1) Always check Stochastic M30, 1H & 4H to entry and exit the market.
2) Draw trendline at 1H and 4H to check the trend/reversal.
3) If you need to SET and FORGOT, please apply trailing stop when you are in profit.
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