Now we start the series of making money online in IQ Option with the T.L.S. trading strategy. Regarding the first week of April, it is considered a perfect start. Because with only 8 transactions, the profit gained is almost 80% of the total capital. In this article, I will review good entry points in 2 days that are April 7 and April 9.
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The T.L.S trading strategy
If you do not understand the necessary and sufficient conditions to open an order with the T.L.S. strategy, You can refer here: https://iqtradingpro.com/tls-trading-strategy-iq-option/
The trading strategy, capital management method, trading psychology are all clarified from which to form an effective trading strategy. This is a trading strategy based on the most basic things which traders know. Because it is a combination of the basics, it is easy to apply and practice with all assets.
Things to do before trading
Before taking any step into the risky place, psychological preparation is very important. Find yourself a drink that brings high alertness and concentration like coffee and tea. Sometimes, getting distracted during trading makes you pay a very expensive price.
Listen to a song you like to create a sense of comfort and relieve stress. Sometimes, life is not comfortable. However, don’t bring negative emotions into the trade.
Only a relaxed mind can enter the market and return with profits. Once negative emotions arise, you should stop trading or you will lose your money. This is what experienced traders prepare for making money online in IQ Option.
When opening the chart, it is necessary to assess the market overview.
(i) Identify the trend
Because the trend will be your companion on the road to becoming a successful trader. To have the trend is to have it all. This is the vital factor of every transaction in IQ Option. According to the statistics given, there is 80% of the winning orders when trading the trend.
If the trend is down, then find safe entry points for “LOWER” orders.
If the trend is up, then find safe entry points for “HIGHER” orders.
(ii) Resistance and Support
After determining the main trend, drawing resistance and support is the next thing. Find and draw resistance and support lines correctly. These will be the deciding zones to open an order with the highest probability of winning. So please pay attention and note in the chart by drawing for easy viewing.
Resistance in the downtrend
Support in an uptrend
(iii) Entry signal
It is a candle or candlestick pattern with high accuracy. Test candlestick patterns and pull-back candles are my favorite patterns.
Trend continuation candlestick patterns always bring high winning rates.
A downtrend in combination with the Bearish Pin Bar candle creates a safe entry signal.
An uptrend combined with the Bullish Pin Bar candle gives us a high probability of winning in the trade.
When the trend, levels, and signals are identified, the safest entry point will appear.
Principles should never be forgotten during a transaction
– Do not open more than 5 orders a day.
– Do not open many orders consecutively.
– Do not open many orders at once.
– Only trade with 3 currency pairs of USD/JPY, AUD/USD, EUR/USD.
– Winning 4 consecutive orders means to end that trading day.
– Losing 3 orders in a row, stop and come back the next day.
– Open orders only with the expiration time varied from 10 minutes to 30 minutes.
– When one of the three conditions is missing, never open an order.
Review on financial trading orders in IQ Option on 07/04/2020
Entry signal
HIGHER = Bullish trend + support + signal candles.
LOWER = Bearish trend + resistance + signal candles.
Entry points on 07/04/2020, with the T.L.S trading strategy
Order 1: Bearish trend + resistance + the price created a test candlestick at the level it just passed = Opened a “LOWER” order.
Order 2: Bearish trend + resistance + the price tested the level the second time = Opened a “LOWER” order.
Notes: Only open orders when the price tests the level two times or less. Because when the price tests the level too many times, there is a high probability of that level to be broken.
Order 3: Bearish trend + resistance + the price created a test candlestick at the level it just passed = Opened a “LOWER” order.
Order 4: Bearish trend + resistance + the price tested the level the second time = Opened a “LOWER” order.
At the end of the fourth order, the downtrend started weakening and the price started to move sideways. When there is no specific trend, opening a trade is very likely to lose. So, I turned off my computer and ended my trading day.
Review on trading orders in IQ Option on 09/04/2020
Entry points on 09/04/2020, with the T.L.S trading strategy
Order 1: Bearish trend + resistance + Bearish Pin Bar candlestick = Opened a “LOWER” order.
Order 2: Bearish trend + resistance + the price tested the level the second time = Opened a “LOWER” order.
Order 3: Bearish trend + resistance + the price tested the level and created a test candle = Opened a “LOWER” order.
Order 4: Bearish trend + resistance + the price tested the level and created a test candle = Opened a “LOWER” order.
This is a sequence of 4 consecutive winning orders in a day so I stopped trading. There is no need to break the principles. If you have once broken your principles, you will surely do the next time.
Until someday, nothing can protect you from negative emotions. Then the loss will come to you regularly and steadily.
Due to the consecutive winning, your confidence is rising and the 5th order is likely to lose. I have no mental issues so I don’t have to get into high-risk orders. The market is still there. There are still opportunities, so there is no need to be impatient.
Conclusions
Regarding the 1st week of April, it took place smoothly when it brought a profit of 80% over the total capital of $250. This is a fight where you follow your disciplines, you will earn the money. On the contrary, you will lose your money easily if you break your rules. If you want to be a successful trader, set your own principles. Also, don’t forget to follow on next week’s updates to see if the T.L.S strategy will continue to work.
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