Hi all,
I decided to create my own thread for my trading ideas based on TrendLine, Support, Resistance, Fibonacci, Divergence, Elliot Wave and Ichimoku.
Started Thread: http://www.forexfactory.com/showthread.php?t=280705
I normally divide trade into 3 trades with totally 2% risk per actual setup.
Here is how I divide my total size allocation per trade of 2% risk at MAX
T1 @ 50 pips with 8% size allocation.
T2 @ 100 pips with 50% size allocation.
T3 @ 300 pips with 42% size allocation.
Trading Rules:
1. NEVER risk more than 2% per trade
2. Discard the setup if it doesn't triggered before 11am EST or 3:00pm EST(varies).
3. Move SL to breakeven after gain the 50 pips.
4. Close 50% of position after reach 100 pips gain.
5. Move you SL to 200ma in 15min chart as new SL after reached 100pips gain.
6. Close all profit positions after 1:00pm on Friday. Don't want to carry winning trade over the weekend.
I decided to create my own thread for my trading ideas based on TrendLine, Support, Resistance, Fibonacci, Divergence, Elliot Wave and Ichimoku.
Started Thread: http://www.forexfactory.com/showthread.php?t=280705
I normally divide trade into 3 trades with totally 2% risk per actual setup.
Here is how I divide my total size allocation per trade of 2% risk at MAX
T1 @ 50 pips with 8% size allocation.
T2 @ 100 pips with 50% size allocation.
T3 @ 300 pips with 42% size allocation.
Trading Rules:
1. NEVER risk more than 2% per trade
2. Discard the setup if it doesn't triggered before 11am EST or 3:00pm EST(varies).
3. Move SL to breakeven after gain the 50 pips.
4. Close 50% of position after reach 100 pips gain.
5. Move you SL to 200ma in 15min chart as new SL after reached 100pips gain.
6. Close all profit positions after 1:00pm on Friday. Don't want to carry winning trade over the weekend.