Hello fellow traders.
I am fairly new to forex having come from a background trading crypto for a number of years.
I like the idea of set and forget trades. I think sitting at and watching a screen for many hours on end is both detrimental to health and is not necessary to achieve the our goals and targets of reasonable account growth.
I am going to start posting trades on this thread linked to my demo account shown on my FX book and encourage other traders to do within the SET RULES ONLY.
The purpose is to see if this style of trading can work over the longer period and achieve our desired results. I am hoping to learn from this too and by posting on this thread, it will hopefully ensure I give this style the time and effort I feel it deserves. I will personally be placing trades based on trendline support and resistance, renko, chart pattern analysis and looking at market swing lows and highs as well as utilising some other tools.
I will hopefully keep things simple and not bore you to death with needless charts and information. I believe people most people want to see trades and results!
Please see the rules below
1) LIMIT/PENDING ORDER TRADES TO BE PLACED ON THE WEEKEND ONLY WHEN THE MARKET IS CLOSED.
2)ACCOUNT SIZE MUST BE $10,000 (I think this an amount many can achieve with a bit of hard work and savings)
3)RISK PER TRADE MUST NOT EXCEED 2% (a parameter many traders have I believe)
4)A MYFXBOOK or FX BLUE ACCOUNT MUST BE CREATED SHOWING YOUR TRADES WITH SL/ENTRY/TP
5)MAXIMUM ACCOUNT RISK SHOULD NOT EXCEED 10% AT ANY POINT (ie 5 open trades at 2% risk)
6)IDEALLY 1 HOUR TRADE TIME WINDOW PLACING TRADES (This is to ensure system simplicity and ease of use)
7)ANY IDEAS INVOLVING FX, METALS, COMMODITIES, INDICES ARE ALLOWED.
I ask to keep the thread clean and relevant to the topic in hand.
I am fairly new to forex having come from a background trading crypto for a number of years.
I like the idea of set and forget trades. I think sitting at and watching a screen for many hours on end is both detrimental to health and is not necessary to achieve the our goals and targets of reasonable account growth.
I am going to start posting trades on this thread linked to my demo account shown on my FX book and encourage other traders to do within the SET RULES ONLY.
The purpose is to see if this style of trading can work over the longer period and achieve our desired results. I am hoping to learn from this too and by posting on this thread, it will hopefully ensure I give this style the time and effort I feel it deserves. I will personally be placing trades based on trendline support and resistance, renko, chart pattern analysis and looking at market swing lows and highs as well as utilising some other tools.
I will hopefully keep things simple and not bore you to death with needless charts and information. I believe people most people want to see trades and results!
Please see the rules below
1) LIMIT/PENDING ORDER TRADES TO BE PLACED ON THE WEEKEND ONLY WHEN THE MARKET IS CLOSED.
2)ACCOUNT SIZE MUST BE $10,000 (I think this an amount many can achieve with a bit of hard work and savings)
3)RISK PER TRADE MUST NOT EXCEED 2% (a parameter many traders have I believe)
4)A MYFXBOOK or FX BLUE ACCOUNT MUST BE CREATED SHOWING YOUR TRADES WITH SL/ENTRY/TP
5)MAXIMUM ACCOUNT RISK SHOULD NOT EXCEED 10% AT ANY POINT (ie 5 open trades at 2% risk)
6)IDEALLY 1 HOUR TRADE TIME WINDOW PLACING TRADES (This is to ensure system simplicity and ease of use)
7)ANY IDEAS INVOLVING FX, METALS, COMMODITIES, INDICES ARE ALLOWED.
I ask to keep the thread clean and relevant to the topic in hand.