Joey shares a simple and profitable MT4 setup for trading. He advises viewers to hit the like button, subscribe and share his videos. The strategy involves creating a sky color arrow for a buy trade, observing a 50 moving average, looking for a blue colored bullish trend candle and setting stop loss and profit targets. The strategy also includes red colored arrows for sell trades and requires caution with side wedge and volatile markets. Joey recommends a good trading platform and links to one in the video’s description.
Introduction
In this video, Joey explains a simple and profitable MT4 setup that traders can use. He encourages viewers to hit the like button, subscribe, turn on notifications, and share the video across social media platforms as a show of support. Before diving into the details of the setup, Joey highlights an important point about the creation of a sky color arrow for a buy trade and the importance of observing the 50 moving average white colors.
Executing a Buy Trade
To execute a buy trade, Joey instructs viewers to wait for the market to close on a blue candle, indicating a bullish trend. He also advises setting the stop loss at the previous low of the market and keeping the target profit at either one is to one or one is to two. Traders can also move their stop loss upwards with the 50 moving average.
Executing a Sell Trade
For sell trades, traders should look for red-colored arrows, set their stop loss above the red arrow, and set their target profit at one is to one. Alternatively, they can book their profit when a bullish pattern is created in the market. Joey warns that this indicator will not work when the market is side wedge or too volatile.
Important Considerations
Joey emphasizes that traders need to be careful when using this setup and pay attention to market signals. He stresses the importance of having a good platform and provides a link to the world’s most famous platform in the video description.
Testing the Indicator
Joey ends the video by briefly testing the indicator to see if it works, encouraging viewers to try it out and share their results.
Conclusion
Joey concludes with a reminder to hit the like button, subscribe, turn on notifications, and share the video across social media platforms if viewers found the video helpful. He also encourages traders to continue to learn and grow their knowledge of the MT4 setup.