Set It And Forget It | Forex Factory

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Set It And Forget It

  • #1
  • First Post: Apr 1, 2007 3:31pm Apr 1, 2007 3:31pm
After being burned the last few months, and reading how to find a good strategy, it has finally become crystal clear how to really succeed in this market: SET IT AND FORGET IT.

By using the proper money management, stop losses, and having patience, your profits will far outweigh any losses. Find a good ranging pair (USD/JPY) and you have it made. Enter and exit at or near the 00 or 50 levels. Price always return to those levels. Take a look at USD/JPY for the month of March. If you only traded the 117.00-118.00 range you could have scooped up a good number of pips. Just don't use too much leverage (as I have been guilty of). When a breakout of the old range occurs, just wait for the new range to emerge.

The scales have been removed......
  • #2
  • Apr 18, 2008 5:36pm Apr 18, 2008 5:36pm
Quoting southernmind
After being burned the last few months, and reading how to find a good strategy, it has finally become crystal clear how to really succeed in this market: SET IT AND FORGET IT.

By using the proper money management, stop losses, and having patience, your profits will far outweigh any losses. Find a good ranging pair (USD/JPY) and you have it made. Enter and exit at or near the 00 or 50 levels. Price always return to those levels. Take a look at USD/JPY for the month of March. If you only traded the 117.00-118.00 range you could have scooped up a good number of pips. Just don't use too much leverage (as I have been guilty of). When a breakout of the old range occurs, just wait for the new range to emerge.

The scales have been removed......
Wow, this post is more than a year old. Still here? Still trading this way?
  • #3
  • Apr 18, 2008 5:44pm Apr 18, 2008 5:44pm
Yeah but look at the exact date of his post...
  • #4
  • Apr 18, 2008 5:49pm Apr 18, 2008 5:49pm
Quoting forexmoments
Yeah but look at the exact date of his post...
Yes, it is April 1 07, more than a year ago. Is this an "April Fool's" joke?
  • #5
  • Apr 19, 2008 1:13pm Apr 19, 2008 1:13pm
Perhaps it is.
  • #6
  • Last Post: Apr 19, 2008 10:37pm Apr 19, 2008 10:37pm
I like that a lot. Once I get ia trade and it is going my way I set my trailing stop. It runs my trade for me. But I do not apply it until I have decent profit and good angle. Stop losses are big for me too! Thanks for the details on your strategy.
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