Level II Forex Plugin: Quickly Set Order with Ideal Position Size

Note: one thing I forgot to mention in the video--sometimes the pair will continue to consolidate before it hits your entry order. This may cause the bottom or top of the consolidation to slightly change. Entry, stops and targets should be adjusted accordingly since the trade is still developing. If the price breaks out out in the opposite direction before you are filled, cancel the trade, because the pair is no longer acting in accordance with the strategy. See the Forex Strategies Guide for more details on this strategy: http://vantagepointtrading.com/forex-day-trading-and-swing-trading-strategy-guide This FXopen plugin makes placing entry, stop loss and profits targets much easier. This video shows how you can implement it using a basic swing trading strategy so you have a position size that's perfectly calibrated for your account size and the specifications of the trade (which will vary from trade to trade). FXopen Level II plugin: https://www.fxopen.com/en/traders-tools?agent=618392 If you are a day trader, and use a fixed stop loss and target for most of your trades then just punch in the stop loss and target (in pips) in the SL and TP boxes. Your stop loss orders and profit targets will go out as soon as you enter a trade (pending or market order). This keeps your risk controlled and allows you capture moves in fast moving market conditions without fumbling to put out a stop or target after you've taken a trade. Cheers, Cory Mitchell, CMT http://vantagepointtrading.com/

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