Eight Things to Remember When Using
the Blade Runner Trading Strategy

One of the most reliable techniques to spot the best entry points

For the advanced trader in the foreign exchange market, the Blade Runner Trading Strategy, as a price action analysis strategy, is one of the most reliable techniques of spotting the best entry points in a trade. Since it does not require the use of off-chart technical indicators including MACD and the Stochastic Oscillator, implementation can be easy. However, if you are inexperienced, you need to be careful as it can be challenging, too.

The Blade Runner Trading Strategy is one of the most reliable techniques used by traders to spot the best entry points.  (Image by Freeimages.com)

What to remember:

The Blade Runner Trading Strategy is an effective forex trading strategy. It has been praised as one of the best forex trading strategies available. Here are the eight important points to remember when using it.

1. Is the price trending?
Prior to using it, make sure that the price is trending; it is important for the price levels to be able to break apart before an entry point is established.

2. Consider the direction of the current trend
It is vital for a trader to use it and considering the direction of the current trend; doing so allows almost effortless analysis of the EMA.

3. Spot at least two indicators
Using it can be simple. Upon entering a trade, the technique is to spot at least two indicators that can determine similar price levels.

4. Focus on the price levels
Since the generated signals are based purely on price action, convincing predictions can be made by merely focusing on price levels.

5. Use other analysis tools to make it more effective
It is an effective independent trading strategy. However, when used together with other technical analysis tools such as Fibonacci levels, Japanese candlesticks, pivot points, resistance and support levels, and round numbers, it becomes at least twice as effective.

6. Tune out from watching financial announcements
Since the activity can influence the decision to place a trade, advanced traders suggest that watching major news should be put off. As their experience tells them, tuning in to financial announcements about the forex market can impact their mental state during a trade; letting at least an hour pass may be best.

7. Use it with your preferred on-chart indicators
Many advanced traders recommend using it with the (Estimated Moving Average) EMA, Bollinger Bands, and other preferred on-chart indicators. According to them, doing so enables them to trade successful anytime of the day, instead of limiting winning positions only at a particular period.

8. Set price levels along or above the Estimated Moving Average
For re-tests, make sure to set price levels along or above the EMA. Otherwise, they cannot provide a dependable result. If they are below the EMA, however, it is best if they remain in that position. Rather than let them move upward or downward, waiting for the right market condition to influence the action is advised.

Content Credit: http://www.mtrading.ph/education/

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