How forex traders uses Parabolic SAR to make $1000000
My trading strategy is Parabolic SAR Forex trading strategy, i have been trading this strategy for the past 22 years since i graduated from financial trading school, Strategy Set-Up 1. Any currency pair and timeframe should work. 2. Add a Parabolic SAR indicator to the chart, set its Step to 0.05 and Maximum to 0.2. Entry Conditions Enter Long position at support area when the current price touches the indicator from below and it changes its direction. Enter Short position at resistance area when the current price touches the indicator from above and it changes its direction. Exit Conditions Set stop-loss directly at the indicator’s latest level or support / resistance — above the price for Short positions and below the price for Long positions. Adjust stop-loss with each new bar. Take-profit should be set to the same value as stop-loss, but you should not adjust it. For example, if your Short trade entry level is 1.1030, and stop-loss is set to 1.1050 (20 pips), your take-profit level should be set to 1.1010 (same 20 pips).