- Institutional levels:
- Big-figure levels - 00 levels, such as 1800, 1.200, 96.00.
- Mid-figure levels - 50 levels, such as 1850, 1.250, 96.50.
- 80-20 levels - For example, 1820, 1880, 1.220, 1280, 96.20, 96.80.
- Small-rounded levels - Levels like 1810, 1830, 1,2230, 96.70, 96.90.
- Proper trading requires not just following a set of rules but understanding and applying these rules based on the market’s behavior and context.
- Michael advises a cautious, disciplined approach to live trading, starting with minimal capital and working up from there once consistent profitability has been achieved in a demo environment.
- We should set realistic expectations and understand that success in trading doesn’t come quickly or easily.
- We should first learn concepts, then practice on demo accounts, and slowly transition to real trading once we have gained confidence and experience.
EURUSD Trade Example - Optimal Trade Entries
EURUSD Trade Example - Trade Entries And Exits
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