Full week Trading My 1 Minute Strategy!

Introduction

This tutorial provides a comprehensive guide to trading the EURUSD currency pair using a 1-minute strategy based on the RIMC method. Following a structured approach over a week, this guide will help you develop consistency in your trading and improve decision-making by focusing on specific trading patterns and frameworks.

Step 1: Establish a Consistent Trading Schedule

• Trade during the London session from 8:00 AM to 10:00 AM.
• Focus on executing trades during this timeframe to build consistency in your trading routine.

Step 2: Understand the RIMC Method Framework

• Range: Identify the price range before your trading session.
• Initiation: Look for price movement that breaks out of the established range.
• Mitigation: Wait for price to pull back to a key level within the range before entering a trade.
• Continuation: Execute your trade when signs indicate the price will continue in the desired direction.

Step 3: Analyze Market Conditions Before Entering Trades

• Begin by zooming out on your chart to identify recent price action and trends.
• Look for significant price levels, such as previous highs and lows, as potential entry or exit points.
• Use the information from the previous week's trading to inform your current session's strategy.

Step 4: Execute Trades Based on Mitigation Points

• Focus on entering trades at points of mitigation:
  • Identify low prices for potential bullish trades.
  • Identify high prices for potential bearish trades.
• Use specific price levels to set your stop-loss orders, typically just below recent lows for buy trades or above recent highs for sell trades.

Step 5: Manage Your Trades Effectively

• Aim for a minimal stop-loss (e.g., 2.2 pips) to keep risk low.
• Move to break even once the trade reaches a predetermined level to protect your capital.
• If the trade does not go in your favor, accept the loss as part of the trading process.

Step 6: Observe and Learn from Each Trade

• Review each trade after execution to analyze your decisions and the market's behavior.
• Recognize winning trades, break-even trades, and losses as opportunities to learn and refine your strategy.
• Maintain a consistent approach, adjusting your plan only as necessary based on observed patterns.

Conclusion

By following this structured approach to trading using the 1-minute strategy, you can enhance your trading consistency and decision-making. Focus on applying the RIMC method daily and managing your trades effectively. As you practice and gain experience, your ability to identify profitable trading opportunities will improve, leading to better results in your trading journey. Consider continuing your education through additional courses or mentorship as you advance.