Author: Gordago Software Corp
Binario is not an automated trading system but a trading idea. It consists of entering at a breakout and following the trend. The suggested method can be used on all time frames.
It is very simple and will be useful for beginners.
People's tips on usage.
1. Wait for the price line to be in the range of "Binario", and then wait for a breakout of one of the lines.
2. Place a buy-stop order at the level of 25 points + spread ABOVE the "Binario" line.
3. Place a sell-stop order at the level of 25 points + spread BELOW the "Binario" line.
4. Place a stop loss for the long position 1 point below the "Binario" lower line.
5. Place a stop loss for the short position 1 point above the "Binario" upper line. In both cases the spread is added to 1 point. Stop loss levels can be adjusted every hour or when needed.
6. Set the take profit (I usually set a target of 850 points, but you can set your own targets).
7. The positions must be adjusted when the ЕМА values change.
8. Exit: upon reaching the target or by stop loss.
One last comment. This is trend following method, it is based on catching large movements, therefore small losses can be very frequent, but these unprofitable trades must not be skipped - the trend will be missed! Discussion topic