Hello FF Traders,
Firstly, I've learnt a lot from the traders here at FF who have helped me fine tune and better my trading. I want to thank this platform and the FF family.
As a result I've been able to develop an EA for trading EURUSD. one that is a product of my preferences.
MY PREFERENCES:
1. Automated System : I absolutely agree with the idea of having a trading plan which a trader creates based on rules that he/she has identified. An automated system is then a mere automation of the plan & rules. Its very important for me to know what to do next. Eg: If SL - what to I do next OR If TP what do I do next.
2. Low Risk : I prefer to limit/control the loss than to focus on the profit. Very often we end up closing trades that are in profit too early and let losing trades run longer. This is often a result of focusing on profit that makes us act as such. On the other hand if we meticulously close losing trades at a certain loss and look to close profitable trades only at a certain level we can be more planned and calm in the trading outcome.
3. Indicator Free : Indicators work and don't work period! This is one of the first tools every newbie/mid-level traders likes to add. I'm not against the use of indicators, however i strongly believe indicators work well under certain market conditions and fail in other. Hence its the market dictating the result of the indicator whereas it should be the indicator detecting the market direction. Unpredictability. So no indicators.
4. Mathematical : The one sure thing about trading forex is there are going to be losses. Which is nothing but a function of volatility. We can use this knowledge to our advantage and combine it with probability and money management to place planned orders. Many might think of martingale here. Sure this has an element of martingale but combine it with PREFERENCE#2, limit the losses and one needn't balloon the losses.
5. Level : Perhaps the most important part of my trading and the EA. I trade levels (PA). The time I've spent trading and learning, I've taught myself to identify key levels and then just trade them mathematically with a plan. This is the USP of my system.
The EA:
EURUSD_EA_Trader is a commercial offering. However, I'm not fapturbo or the likes of that.
I will post it here for downloading and have the FF family test drive it for 2 weeks for free.
I dont need any kind of credit card or financial transaction for the 2 week period. Its just a download.
In the next few posts I will talk more about the system and then post the ex4.
I hope traders here at FF who have had a trading journey like mine and have like minded preferences for trading can connect with me here and possibly have a low risk tool in their trading arsenal.
Pls feel free to post any questions / comments.
Cheers!
Axiom
Firstly, I've learnt a lot from the traders here at FF who have helped me fine tune and better my trading. I want to thank this platform and the FF family.
As a result I've been able to develop an EA for trading EURUSD. one that is a product of my preferences.
MY PREFERENCES:
1. Automated System : I absolutely agree with the idea of having a trading plan which a trader creates based on rules that he/she has identified. An automated system is then a mere automation of the plan & rules. Its very important for me to know what to do next. Eg: If SL - what to I do next OR If TP what do I do next.
2. Low Risk : I prefer to limit/control the loss than to focus on the profit. Very often we end up closing trades that are in profit too early and let losing trades run longer. This is often a result of focusing on profit that makes us act as such. On the other hand if we meticulously close losing trades at a certain loss and look to close profitable trades only at a certain level we can be more planned and calm in the trading outcome.
3. Indicator Free : Indicators work and don't work period! This is one of the first tools every newbie/mid-level traders likes to add. I'm not against the use of indicators, however i strongly believe indicators work well under certain market conditions and fail in other. Hence its the market dictating the result of the indicator whereas it should be the indicator detecting the market direction. Unpredictability. So no indicators.
4. Mathematical : The one sure thing about trading forex is there are going to be losses. Which is nothing but a function of volatility. We can use this knowledge to our advantage and combine it with probability and money management to place planned orders. Many might think of martingale here. Sure this has an element of martingale but combine it with PREFERENCE#2, limit the losses and one needn't balloon the losses.
5. Level : Perhaps the most important part of my trading and the EA. I trade levels (PA). The time I've spent trading and learning, I've taught myself to identify key levels and then just trade them mathematically with a plan. This is the USP of my system.
The EA:
EURUSD_EA_Trader is a commercial offering. However, I'm not fapturbo or the likes of that.
I will post it here for downloading and have the FF family test drive it for 2 weeks for free.
I dont need any kind of credit card or financial transaction for the 2 week period. Its just a download.
In the next few posts I will talk more about the system and then post the ex4.
I hope traders here at FF who have had a trading journey like mine and have like minded preferences for trading can connect with me here and possibly have a low risk tool in their trading arsenal.
Pls feel free to post any questions / comments.
Cheers!
Axiom