فوركس ساتو

NETLESS CANDLES
“Netless Candles” is a trading technique that combines some of the concepts
taught in earlier sections of this eBook. It provides an excellent trading
opportunity that is similar to the “Incredible Scalp” yet is more suited for
people who don’t have much time to spend trading. This technique can easily
be considered a 10-minute daily Forex trading technique in that all you would
need to do is spend about 5 to 10 minutes each day looking for suitable setups
and to monitor your existing trade(s). Furthermore it doesn’t really matter
when you engage in your trading activities – anytime after the close of the
N.American (17:00 EST) and before the Asian/European overlap time (02:00
EST) is best (which is a large window of time so you can do this when most
convenient for you).
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Let me give you the brief overview of this technique first and then I’ll go over
some more specifics about this strategy.
The concept is simple. After the close of a DAY candle (after 5pm EST) then
you simply place a “Netless Straddle”, one trade on the high of the now
“yesterday” candle (to buy long), and the other trade on the low of yesterday’s
candle (to sell short). You place NO stop orders and ABSOLUTELY NO
limit orders. (Alternately, since you are dealing with a trend you can simply
put your order in the direction of the trend with a stop at the other end of the
candle. No second trade is needed.) The candle itself is the straddle, and
sooner or later the price will breakout from the range of that candle’s
amplitude. When it does then (hopefully) the market will continue in that
direction, but if the market ends up reversing then the other entry order on the
other end of the candle will act as a stop.
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As you can see from the above diagram, it is important that today’s candle has
not yet crossed beyond the high or low of yesterday’s candle. The earlier in
the day you act the more likely you’ll be able to place your orders before the
high/low is penetrated (remember that the day ends at 4:59 pm EST and the
new day begins at 5:00 pm EST, at the close of New York business hours).
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This diagram shows what will eventually happen (it is inevitable –
occasionally you’ll get a “Harami”, a candle that doesn’t cross either the top
or bottom, but I’ll do so most likely the next day. If you do get a “Harami”
then use the high/low of that smaller candle.). The current market price has
broken out of the range of the candle, in this case on the high side. Once this
has happens your entry order would have be activated, and in this example
you would have bought going long (going up).
Netless candles are good for “Roulette” types of trades for a fixed profit
target, but they are also good for entry early in a new trend (after trend break,
S.E.X. lines spreading) to “sail” for longer trades. You can also use the
advanced split exit method discussed later in this eBook, so half can be a
Roulette trade (exit at limit), then replace the stop to entry price for the second
half of the trade (so you have zero risk now and have already taken some
profit) to let the second half of the trade run for bigger profits (trailing stop appropriately).
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