Secret Profit Levels is as old as the market itself and is so profitable because of its universality. I will also share custom indicator that will help you trade this strategy with ease. But first, let’s go through the basics forex news usd jpy yahoo lie behind this strategy.
The trading system Secret Profit Levels is about the secret levels that exist on your charts, yet 99. And although they are easy and simple to trade, once you see how profitable they are, you’ll understand why the big hedge funds and financial institutions are keeping it as a secret to be used by them only. It is believed is that these high frequency trades create large pools of money at certain levels on a chart. But they are invisible to everyone except those big players placing the trades.
Meaning that until now the average trader had no way of knowing where these pools of wealth were hidden. Those Secret Profit Levels are actually round numbers on the chart and they work so well because it’s in human nature to tend to round numbers. As soon as price gets close they will attract it, giving you the chance to enter the trade and make money. Secret Profit Levels indicator will show you where to enter the trade and where to exit the trade, which will help you boost your confidence, whether you are an experienced trader or a beginner. Wait for the price to climb up towards a round number level.
3rds of the entire range between 2 round numbers. JPY and price is in between the 136. 3 of this range or above the 136. 670 level to consider that as a possible long trade set up.
As soon as price reaches 15 pips below the next round number, we can open a buy order. JPY pair above, as soon as price breaks the 136. We can also use a pending order to enter trades. The stop loss is set 15 pips under the entry point. JPY example above, our first target is the 137. This is the round number level plus 15 pips. In our example, it will be at the 137.
Here, we close half of our position on the round number level, then move our stop loss level to the break even and close the rest at the round number plus 15 pip This way, we can lock in some profit and preserve it by moving the stop loss to break even. Wait for the price to decline towards a round number. USD, if price is between the 1. 3 of this range or below the 1. 2833 level to look for a possible short trade set up. As soon as price breaks below the next round number minus 15 pips, we can open a sell order.
In our example, as price breaks below the 1. 2815 level, we can go short. We can also set a pending sell order instead of waiting for the price to reach that level. Set the stop loss 15 pips from the entry point. In our example, our first target is the 1. This is the level 15 pips below the round number.