Wednesday, November 4, 2009

My New Forex Trading Way

My Forex Trading:
1) I am using weekly chart and daily chart to trade (I know most traders using much shorter time frame, I use longer term; weekly and daily to avoid those ‘robots and scalpers’)
2) My trading decision is based on break out of the prices of high and low
3) I am not using technical analysis like MACD, RSI, Stochastic and Moving Averages etc. As I want to keep trading simple
4) Risk Management: I place stop loss far at least last two bar’s high and low so I need bigger margin for all my trades
5) Money Management: The maximum I can loss for every trade is 10% of my total equity.

I will add more as and when needed

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