hello everyone,
Forex Market is a coin.
Trading Forex market is like flipping a coin.
Either winning or losing, both will have 50% probablity.
One good thing in forex, which is not in coin flip is
1.If you lose, then you lose.
2.But if you win, you can increase your winning potential by riding on winning side.(not possible in coin flip)
So the strategy is
1.Place buy order with 1:1 R:R.(for ex 6pip:6pip)
2.There is no tp but there will be stoploss. You can ask then how the hell is 1:1. There is 1:!. Move stop loss to 2 pip(for ex) below the trade when trade reaches the calculated 1:1.
3.If we are on the winning side trail the stoploss in 6pip difference. For the first time when it reaches 6 pip profit move to 4pip ie., 2pip below the current price.
4.If we are on losing side accept the loss.
5.Now place the sell trade if we are on losing side and place buy trade again if we are on winning side.
Thats all
Give all your suggestions, criticisms, and all those things.
Please spend some time on this.
Please help newbie(its me) to get something from forex market.
Thank you very much for spending time on this thread.
Thank you very much in advance if you post reply over to this thread.
With warm regards
ananthhh
Forex Market is a coin.
Trading Forex market is like flipping a coin.
Either winning or losing, both will have 50% probablity.
One good thing in forex, which is not in coin flip is
1.If you lose, then you lose.
2.But if you win, you can increase your winning potential by riding on winning side.(not possible in coin flip)
So the strategy is
1.Place buy order with 1:1 R:R.(for ex 6pip:6pip)
2.There is no tp but there will be stoploss. You can ask then how the hell is 1:1. There is 1:!. Move stop loss to 2 pip(for ex) below the trade when trade reaches the calculated 1:1.
3.If we are on the winning side trail the stoploss in 6pip difference. For the first time when it reaches 6 pip profit move to 4pip ie., 2pip below the current price.
4.If we are on losing side accept the loss.
5.Now place the sell trade if we are on losing side and place buy trade again if we are on winning side.
Thats all
Give all your suggestions, criticisms, and all those things.
Please spend some time on this.
Please help newbie(its me) to get something from forex market.
Thank you very much for spending time on this thread.
Thank you very much in advance if you post reply over to this thread.
With warm regards
ananthhh