The classic Turtle Trading Indicator For MT4



Table Of Contents:

  1. The classic Turtle Trading Indicator For MT4
  2. Advantages of using the classic Turtle Trading Indicator For MT4
  3. Trading Ideas

The classic Turtle Trading Indicator For MT4 is an indicator that follows the exact methods of the already existing Turtle Strategy. Adding to the fact that this trading system has been used by several popular and profitable traders countlessly, a lot of new traders still wonder if the system is profitable and if it still works at the present. The classic Turtle Trading Indicator For MT4 was developed for this reason and also to encourage new traders to use the system

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Advantages of using the classic Turtle Trading Indicator For MT4

The classic Turtle Trading Indicator For MT4 was built based on the Turtle trading strategy which has already been established as profitable even for newbie traders who can follow its rules consistently. It has been backtested a lot of times over the internet and results are readily available to prove this, hence it still works for traders who can follow the rules consistently.

The classic Turtle Trading Indicator For MT4 is built on the exact opposite principle of the Sell High and Buy Low strategy that has been commonly trumpeted to all the new forex traders. The classic Turtle Trading Indicator For MT4 capitalizes on the trend simply by telling the trader to buy high and sell low, and this has worked considerably well.

The classic Turtle Trading Indicator For MT4 works based on breakouts from previous highs and lows for entry. It works on the principle that any serious trend will likely continue and create profits rather than take the trader out. The classic Turtle Trading Indicator For MT4 creates entry signals the same way it creates exit signals using breakouts of former highs and lows.

Using the classic Turtle Trading Indicator For MT4, the entries and exits are visible to the trader as arrows and dot.

For instance, a green arrow on the meta trader 4 charts would indicate that a trader should take a buy position whereas a red arrow would indicate that a trader should take a sell position. A red dot should signify either that a buy trade is still in place or that a trader can add to an already existing buy position. A green dot should signify to a trader that a sell trade is still in place or that a trader can then add to his already existing sell trades.

Using the classic Turtle Trading Indicator For MT4, a buy trade should be ended once a trader sees a green dot when he or she is currently in a buy position and a sell trade should be ended once a trader sees a red dot when he or she is currently in a sell position.

Using the classic Turtle Trading Indicator For MT4, a trader can align multiple timeframes since then, he or she would be able to only take trades in the direction of the longer timeframe. It should already be common knowledge that entries on lower timeframes based off longer timeframe directions are usually better than just taking any trades on the lower timeframes.

The classic Turtle Trading Indicator For MT4 offers the trader visual alerts based on entries and exits in the markets so that the trader can just look at the charts and spot entries and exits and not have to do the required analysis by himself or herself. The trader must, however, wait for a candle to close before taking the trades as by then the pattern would already be set and cannot be removed again by the indicator.

The classic Turtle Trading Indicator For MT4 would enable the trader to trade exactly the way that the turtles did and be able to stick to the trade until the signal goes down. This approach to trade helped the turtles to capture all the big moves in the market within the commodities and asset classes they were trading and can help the trader capture such big moves in today's markets.

The classic Turtle Trading Indicator For MT4 enables traders to follow trends as long as possible, and be able to make as much profit as possible since most times, trends with very huge profit potentials usually show up.

This removes the risk of trading a system that has not been proven or used by traders effectively and allows the traders using it to leverage on years of research and work done by these more experienced traders and trade like a profession from the beginning stages simply by sticking to following the signals from the classic Turtle Trading Indicator For MT4 as soon as they appear.

The classic Turtle Trading Indicator For MT4 can allow novice traders with very little capital to trade the markets without the fear of losing all their trading capital since the system already incorporates an effective risk management protocol. As the original turtle system suggested to its followers, a trader using the classic Turtle Trading Indicator For MT4 must cut their risk size by 20% for every 10% they lose.

Trading Ideas

The classic Turtle Trading Indicator For MT4 does not repaint and traders must only take its signals after the timeframe candle has closed. A trader can then buy when an entry signal appears and sell when a sell entry signal appears. The entry signal for a long trade would be when a green arrow appears and the entry signal for a sell trade would be when a red arrow appears.

Traders using the classic Turtle Trading Indicator For MT4 who are also interested in taking multiple trades can achieve this by taking subsequent buys when a new red dot appears after a green buy arrow entry signal. This presents an opportunity for a new buy trade. A new sell order can also be entered when a new green dot appears after a red sell arrow has already appeared. this presents an opportunity for a new sell trade.

Traders, however, have to be very careful as regards position sizing and should only risk 1 - 2 percent of their trading capital on a single trade. That way, a series of loses will not wipe out their accounts easily. Traders should also not trade only 1 market and try to diversify the markets that they trade so as to catch more trends

 

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