Okay .. I have been around this forum for a while now (wow over 2 years already). During this time my intrest in Forex as a whole has gone up and down like a wave. I have been looking for a system, a mathematical formula to print money from forex and have still have not found one.
I think I might have stumbled on to something profitable and I am willing to share the trades with this forum as it has helped me a lot.
I decided to call this journal Forex Surfing as the main attempt of the strategy will be riding the wave.
Most of the trades will be posted around the close of the day (+-2200GMT) or early in the morning (+-0400GMT) as this are times that suit me best. The trades will be long term as I will ride each wave till I am stopped out.
Each trade will start off with a 200 pip stop loss (the jury is still out on this). Once the trade goes positive by 200 pips, the stop loss will be moved to 100 pips above break even, and the trade will switch to using a 200 pip trailing stop loss going forward. I am doing this to lock in some profit. This will reduce the breathing room of the trade however 100 pips locked in is 100 pips. I am using MT4 and will be entering the trades manually and let Swiss Army do the trade management.
As stated the trades will run until I am stopped out, so hopefully somewhere along the line I will catch a BIG WAVE.
Just remember if you decide to follow this, you are doing so at your own risk.
I am on a mini account and the only trade currently open is
Short USD/JPY @94.75 from a few days back.
The stop has been adjusted to 93.75, so 100 pips already locked in here!
I think I might have stumbled on to something profitable and I am willing to share the trades with this forum as it has helped me a lot.
I decided to call this journal Forex Surfing as the main attempt of the strategy will be riding the wave.
Most of the trades will be posted around the close of the day (+-2200GMT) or early in the morning (+-0400GMT) as this are times that suit me best. The trades will be long term as I will ride each wave till I am stopped out.
Each trade will start off with a 200 pip stop loss (the jury is still out on this). Once the trade goes positive by 200 pips, the stop loss will be moved to 100 pips above break even, and the trade will switch to using a 200 pip trailing stop loss going forward. I am doing this to lock in some profit. This will reduce the breathing room of the trade however 100 pips locked in is 100 pips. I am using MT4 and will be entering the trades manually and let Swiss Army do the trade management.
As stated the trades will run until I am stopped out, so hopefully somewhere along the line I will catch a BIG WAVE.
Just remember if you decide to follow this, you are doing so at your own risk.
I am on a mini account and the only trade currently open is
Short USD/JPY @94.75 from a few days back.
The stop has been adjusted to 93.75, so 100 pips already locked in here!
Any idiot can take profit, real traders know how to take losses!
