Trade is a cruel things, 50:50 changes of losing and winning but we can see many people still losing money
My Trade CVs
1. I have been trading forex since 2008 and a regular follower of trade tips and information sharing in forex factory since then.
2. I have blown many accounts along the way (big and small) and sometimes being entice to many sure win systems,signals etc.
3. Switching from one system to another and hoping to gain a big win is a regular quest but end up in frustration.
4. Try to chase the trend but end-up in wrong side of the trade
5. Did not have a proper plan and strategy to cut lost hoping the trade to come back..
But after endure many years of trade frustration, I finally discover a simple but yet a good trade system that help me yields good return with a manageable risk.I normally trade EURUSD as this pair give me a good success ratio.
My Trade Rules are follows
1. EURUSD, Intraday trade
2. IH Timeframe
3. Identify Key Level
4. Look for a significant move eg after > 70 pips
5. Look for retracement in the vicinity of Key Level Area for 20 - 30 pips.
6. Use Fib Retracement to check on continuation or retracement (Optional)
7. I Normally do not trade during big news, NFP etc.
8. Trade using pending order
9. Trade first 2 sizable lot with not more than 5%
10. Stack up second 2 sizable lot with not more than 5% in 20-30 pips apart from the first 2
11. For the first trade, close the first run after it runs for 20-30 pips and set the second to BE and let the second run untill next key level.
12. Second 2 is to square the risk....close all first 2 and second 2 when second 2 price reach first 2 price.
13. If price goes 20-30 pips against you in second 2, close all at lost (very rare, but in forex it happens)
That is it....will post the example later...
My Trade CVs
1. I have been trading forex since 2008 and a regular follower of trade tips and information sharing in forex factory since then.
2. I have blown many accounts along the way (big and small) and sometimes being entice to many sure win systems,signals etc.
3. Switching from one system to another and hoping to gain a big win is a regular quest but end up in frustration.
4. Try to chase the trend but end-up in wrong side of the trade
5. Did not have a proper plan and strategy to cut lost hoping the trade to come back..
But after endure many years of trade frustration, I finally discover a simple but yet a good trade system that help me yields good return with a manageable risk.I normally trade EURUSD as this pair give me a good success ratio.
My Trade Rules are follows
1. EURUSD, Intraday trade
2. IH Timeframe
3. Identify Key Level
4. Look for a significant move eg after > 70 pips
5. Look for retracement in the vicinity of Key Level Area for 20 - 30 pips.
6. Use Fib Retracement to check on continuation or retracement (Optional)
7. I Normally do not trade during big news, NFP etc.
8. Trade using pending order
9. Trade first 2 sizable lot with not more than 5%
10. Stack up second 2 sizable lot with not more than 5% in 20-30 pips apart from the first 2
11. For the first trade, close the first run after it runs for 20-30 pips and set the second to BE and let the second run untill next key level.
12. Second 2 is to square the risk....close all first 2 and second 2 when second 2 price reach first 2 price.
13. If price goes 20-30 pips against you in second 2, close all at lost (very rare, but in forex it happens)
That is it....will post the example later...
