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Sunday, January 31, 2021

HOW-TO: Use Our 'Forex Risk Management' Indicator

HOW-TO: Use Our 'Forex Risk Management' Indicator

EUR/USD OANDA:EURUSD

Welcome Traders!

In today's trading episode, you will learn how to use our Forex Risk Management indicator. This indicator is created to specifically work with Forex risk management and risk to reward ratios. It will work with any Forex pair, including gold , metals, and exotic pairs. Take time to watch this video as I go over all its features and functionalities.

How to Use:
1. Enter your desired trade stop loss and take profit in pips.
2. Choose if you want the indicator to show a long or short trade setup.
3. The indicator will automatically plot your stop loss and take profit lines and update with the price automatically.

Live Trading Feature:
This indicator follows the live price and will keep your set stop loss and take profit pip values above and below the price at all times, allowing you to easily see what your trade setup will look like. It's recommended to keep the Spread value at half of the live spread, as this is how much your long trades will be bumped up, and how much your short trades will be bumped down to account for the spread when you execute a trade.

Obtaining Access To The Forex Risk Management Calculator:
I use a specific Forex Risk Management Calculator to help me with my Forex trading. You can view this calculator by clicking the link in the signature section below labeled Forex Risk Management Calculator.

Obtaining Access To The Forex Risk Management Indicator:
Click the Forex Risk Management Indicator link in the signature section below.

Take time to practice what you learned in today's video.

Until next time, have fun, and trade confident :)



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