Hi everyone,
Sorry for the delay.
As mentioned we will be looking at TRADING CONDITIONS
Before that, just a couple of points:
1/ I just picked this up from another thread: A great trader on this forum once said that you can take 6 currency pairs and monitor them throughout the month. Throughout the month look for the absolute best possible set-up that each pair has to offer, and only take that absolute best set-up. Use a 30 pip stop loss risking 3%, and 100 pip take profit level, yielding you 10% - and this is really what we are trying to do! WE ONLY OPEN A BUY WHEN THE PRICE IS RISING IN AN UPTREND ANS VISE-VERSA FOR A SELLTRADE!
2/ MM is vital! The holy grail in forex has been found!! What is it? PROTECT YOUR TRADING BALANCE AT ALL COSTS - how? low leverage and many pips NOT high leverage and few pips! If everything else is false - one thing is true in forex trading: "He who fights and (low leverages and always closes a losing trade) runs away, lives to fight another day!!"
Sorry for the delay.
As mentioned we will be looking at TRADING CONDITIONS
Before that, just a couple of points:
1/ I just picked this up from another thread: A great trader on this forum once said that you can take 6 currency pairs and monitor them throughout the month. Throughout the month look for the absolute best possible set-up that each pair has to offer, and only take that absolute best set-up. Use a 30 pip stop loss risking 3%, and 100 pip take profit level, yielding you 10% - and this is really what we are trying to do! WE ONLY OPEN A BUY WHEN THE PRICE IS RISING IN AN UPTREND ANS VISE-VERSA FOR A SELLTRADE!
2/ MM is vital! The holy grail in forex has been found!! What is it? PROTECT YOUR TRADING BALANCE AT ALL COSTS - how? low leverage and many pips NOT high leverage and few pips! If everything else is false - one thing is true in forex trading: "He who fights and (low leverages and always closes a losing trade) runs away, lives to fight another day!!"