WARNING!!
I will not issue SL (Stop Loss) values or TS (Trailing Stop) values, nor do I tell you where to place your TP (Take Profit).
I supply you with an entry point into the market and a direction to trade in, Long or Short, that is all!
I will tell you this however!
(This is purely advice based on
the manner I trade, it is not to be taken literally!)
I open trades of 3 lots, I close 1 lot when the TP gets to around 21 to 34
pips, depending on the pair traded, not the entire trade!
If your system or broker cannot do this or you do not know how to do it, then just open three single lots and close one when you are
around 21 pips ahead.
Then to the remaining two lots, I apply a TS of around 34 pips and move
whatever SL I set to Break Even +1 on both remaining trades.
When they get to
around 50 pips profit, I close another lot and set a TS (Trailing Stop) of 89
to 233 Pips and leave the TS to close the last lot.
Everyone has different trading styles!
I have no idea whether you are an anxious trader or a calm trader? I have no idea if you like to trade long swings or short bursts?
If you trade Mini accounts, open lots valued at 0.30.
If you trade Micro accounts, open lots valued at 0.03.
It is not wise to risk more than 5% of your available balance on your open trades.
It is not wise to trade with a leverage of greater than 100:1.
Forex is a bitch, plain and simple, do not let anyone tell you otherwise!
If you do not know what you are doing or are a little unsure of yourself, take a course, believe me, otherwise you will end up spending a whole lot of money and then paying for, and taking a course anyway.
There are some options here; http://www.ovenstone.net/
Do me, and yourself, a favour, if you only ever buy one thing in
Forex, make sure it is a Market Club Subscription, the link is on the
page at http://www.ovenstone.net look for
the triangles.
An investment in knowledge pays the best interest.
Benjamin Franklin
1706 - 1790
Lastly, if you are not sure about my signals, make up your own mind, open a demo account and trade them for a month. After all, it's only going to cost you
$15!
Thank you and good pips.
The Forex FatCat
It is amazing what you can accomplish if you do not care who gets the credit!
Harry S Truman
1884 - 1972