Manual – how to use Forex trading indicator PUMPING STATION
On this page, we will describe in detail how to set up the forex trading indicator PUMPING STATION, how to trade with this professional forex indicator and earn money every day.
FOR PROPER COUNTING STATISTICS
Open the chart of the currency pair at which you want to trade. Reduce charts and scroll this graph for 10 000 bars to the left. Thus, you will automatically download the history of quotes, which is necessary to calculate the statistics of signals.
The fact is that in the invisible area of the screen there is usually no history of quotes. And if you put the indicator on the chart of quotations with a short history, then the indicator will not be able to calculate the statistics of its work correctly.
If there is no history of quotes, it does not affect the correctness of the indicator online. The indicator will give the same signals with the history of quotes and without the history of quotes. The history of quotes is needed only to see how the indicator worked on the currency pair earlier and how effective this work was.
After that, you can apply the indicator to the quote chart and upload a set-file to fine-tune the indicator.
HOW TO USE THE SET-FILES
Once you have applied the PUMPING STATION to the quote chart, it must be properly configured. To fine-tune the indicator, you need to use the set-files, which you can download from this links:
- Safe Mode H1 – H4 – SAFE MODE PUMP H1-H4
- Safe Mode M15 – SAFE MODE PUMP M15
- Safe Mode M30 – SAFE MODE PUMP M30
- Aggressive Mode H1 – H4 – AGGRESSIVE MODE PUMP H1-H4
- Aggressive Mode M15 – AGGRESSIVE MODE PUMP M15
- Aggressive Mode M30 – AGGRESSIVE MODE PUMP M30
To use the set-files, open the manual settings of the indicator and press the LOAD button. Select the set-file whose name corresponds to the name of the currency pair and timeframe.
After applying the set file, the indicator will be automatically adjusted to work correctly on the selected pair. From now on, the indicator will be in active mode. PUMPING STATION will analyze the quotes chart and give signals to open and close trades.
WHAT is the DIFFERENCE BETWEEN «SAFE MODE» and «AGGRESSIVE MODE»
«SAFE MODE – TRUE» is a mode of operation during which the indicator gives on one currency pair no more than one signal at a time. Until the signal is closed, the indicator will no longer give additional signals for this currency pair. This tactic prevents to increases the trading drawdown.
«SAFE MODE – FALSE» (AGGRESSIVE MODE) is a mode of operation during which the indicator can give several signals for one currency pair from the moment of the first signal to open a trade until the signal to close a trade.
This mode of operation brings more profit, but more dangerous because it can lead to a drawdown if the market goes in the opposite direction from the direction of trade.
WHAT PAIRS and time frame to CHOOSE FOR TRADING? HOW TO CREATE A TRADING PORTFOLIO?
I advise you to use assets with the same timeframe for trading. However, if you use the SAFE MODE TRUE, then you can trade on two timeframes at the same time. This will allow you to trade on H1 – in the style of medium-term trading (the average time of holding trading positions in the market for about 15-30 hours) and on M15 in the style of scalping (the average time of holding trading positions in the market for about 5-10 hours).
IMPORTANT: for trading on H1 or H4 timeframes, you can use any type of trading account. However, if you are trading on M15 or M5 timeframes, I strongly advise you to use ECN account type (account type with minimum spread). The fact is that trading on the M5 and M15 timeframes is scalping. For scalping you need a minimum spread! This is important! Please take my recommendations seriously!
If you do not know which broker is best for trading, then I advise broker ICMarkets – is a regulated Australian broker with Deposit insurance and the best trading conditions. I use this broker personally.
HOW TO TRADE ACCORDING TO THE SIGNALS PUMPING STATION
Once you have installed the PUMPING STATION indicator and applied the corresponding set-file, this system will start to monitor the price movement and give signals to buy or sell when trading conditions arise for this.
When there is a condition for buying or selling, the PUMPING STATION indicator will give a popup alert (as well as a PUSH and email notification – if you enable and configure these functions) in which there will be information: the name of the asset, the timeframe for trading and the direction of trading.
When there is a condition for closing the transaction – the PUMPING STATION indicator will give a popup alert (as well as PUSH and email notification – if you enable and configure these functions) in which there will be information: the name of the asset, the timeframe with marked “CLOSE DEAL”.
Thus, all that is required of you is to follow the signals of the indicator, namely – to open and close trades according to the signals of the indicator.
RISK-MANAGEMENT
We recommend to use 0.01 lot for every 300 units of the Deposit to «SAFE MODE TRUE» or 0.01 lots for every 600 units of the Deposit to «SAFE MODE FALSE» (AGGRESSIVE MODE).
If you use several timeframes for trading, then you need to reduce the size of the trading risk by 1.5 – 2 times.