Preferred Broker
I use Oanda for trading and WHC & FXDD MT4 platform for my charting.
Igmak Money Management (IMM)
Maximum Risk: 5%
Risk Ratio: 1:3 (initial SL 100 pips to TP 300 pips)
I divide my full position (5% to 5-10 different stages or 0.5%-1% each)
I always put my SL with +10 on my average position. So I do not lose money this way even if it is going to go against me.
Recomended MM Book: "The Trading Game: Playing by the Numbers to Make Millions" by Ryan Jones
Example
Position 1: 171.50 with SL 100 pips @ 170.50 with 1% account, if it goes against me here I only lose 1% of my account capital
Position 2: 172 with SL 100 pips on average position @ 170.75 makes 2% account, as price goes up I move my SL above average price +10 pips which is 171.85 (at this point I don't risk any of my capital, just make profit)
Position 3: 174 with SL +10 on my average position @ 172.60 makes 3% account
And so on …
Timeframe
I trade only 4hr, Daily, weekly charts with help of 15m and 1hr on choosing better entry
Tools
I use Oanda for trading and WHC & FXDD MT4 platform for my charting.
Igmak Money Management (IMM)
Maximum Risk: 5%
Risk Ratio: 1:3 (initial SL 100 pips to TP 300 pips)
I divide my full position (5% to 5-10 different stages or 0.5%-1% each)
I always put my SL with +10 on my average position. So I do not lose money this way even if it is going to go against me.
Recomended MM Book: "The Trading Game: Playing by the Numbers to Make Millions" by Ryan Jones
Example
Position 1: 171.50 with SL 100 pips @ 170.50 with 1% account, if it goes against me here I only lose 1% of my account capital
Position 2: 172 with SL 100 pips on average position @ 170.75 makes 2% account, as price goes up I move my SL above average price +10 pips which is 171.85 (at this point I don't risk any of my capital, just make profit)
Position 3: 174 with SL +10 on my average position @ 172.60 makes 3% account
And so on …
Timeframe
I trade only 4hr, Daily, weekly charts with help of 15m and 1hr on choosing better entry
Tools
- Price Action (PA)
- Moving Averages: SMA(5), EMA(50), SMA(100)
- QQE(5) and GANN Line(10)
- MACD Classic and Hidden Divergences
- Stoch(12,26,9)
- Momentum 1,10,14
- Fibonacci Retracments (FR) and Expansions (FE)
- Trend Lines (TL), Channels
- Chart patterns: Head & Shoulders (H/S), Double top/bottom, etc.
Strategy
In order for me to see the setup I use all or some of the above tools.
Examples
1. Combination of 50ema and any divergence
2. Trend continuation: QQE crossed earlier than the candle came across GANN line and PA is moving very little while the QQE is moving faster. QQE crossed but price did not cross GANN Line, indication of trend continuation as long as price did not cross GANN Line. If PA below or above 1h 50ema and 4h GANN
Warning
Do not follow my trade suggestions blindly. I could be wrong.
Please learn how to trade and you may use any of the stuff here as confirmation on your analisys.
Use proper Money Management. Trade @ your own risk.
P.S.
Please post any of your questions, suggestions or comments.
Do not follow my trades. Trade what you see on your own charts.