ATR Trading Strategy - The Best Stop Loss Indicator Out There !
ATR or Average True Range, is one of the most useful Indicator out there.
It is easy to use, that even your dog can trade using ATR and become a millionaire. Average True Range is loved by many professional traders so much, because it solves one of the biggest problems in Trading Forex and Stocks. ATR indicator, is used to set the stop loss properly. Something that many new traders struggle with. If you are good at predicting direction of a Stock, there is a high chance of losing money, if you don't set your stop loss properly. If you don't set your stop loss and profit target at the right place, Price can hit your stop loss first, and then go in your desired direction.
Unlike most indicators that are easy to understand, but are difficult to use. Average true range, is always easy to understand, and easy to use on all time frames.
The ATR stop loss strategy is simple. I have also used this strategy in my 50 dollars small account challenge series, to set the stop loss at the right place. I will show the trade that I am currently In, after we understand how to use this indicator properly.