How to use BTMM corectly in MT4

[Steven Njau]

Step 1: Install BTMM on MT4

1. Download the BTMM indicator files.
2. Open your MT4 platform.
3. Click on "File" in the top-left corner and select "Open Data Folder."
4. Navigate to MQL4 > Indicators and paste the BTMM indicator files here.
5. Restart MT4.

Step 2: Load BTMM Indicator

1. Open a chart of your preferred currency pair.
2. In the Navigator window, find the BTMM indicator under "Custom Indicators."
3. Drag and drop the BTMM indicator onto your chart.
4. Adjust the settings as needed and click "OK."

Step 3: Understanding the BTMM Components

1. Market Maker Zones: Identify areas where market makers are likely to set traps and manipulate prices.
2. Asian Session Range: Note the high and low of the Asian session, which sets the range for the day.
3. Three Sessions: Understand the price movements during the Asian, London, and New York sessions.

Step 4: Trading with BTMM

1. Identify the Daily Bias: Determine if the market is likely to go up (long) or down (short) for the day.
2. Watch for Market Maker Traps: Look for false breakouts or "stop hunts" around key levels.
3. Entry Points: Enter trades at points where the market reverses after a stop hunt, usually around key psychological levels.
4. Set Take Profit and Stop Loss: Place your take profit just before significant resistance or support levels. Set stop losses just beyond the market maker traps.

Step 5: Practice and Patience

1. Backtest: Go through historical data and practice identifying setups using BTMM.
2. Demo Trade: Use a demo account to get a feel for live trading without risking real money.
3. Consistency: Stick to your trading plan and be patient. Consistency is key.

Additional Tips

1. Stay Informed: Keep an eye on economic news and events that can affect market movements.
2. Risk Management: Never risk more than 1-2% of your trading account on a single trade.
3. Review and Adapt: Regularly review your trades and adapt your strategy based on what you learn.