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Basic Strategy

 
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shanthajayasiri

Basic Strategy

You may have heard that maintaining your discipline is a key aspect of trading, while this is true, how can you enforce that discipline when you are in a trade? 

HAVE A TRADING TECHNIQUE OR STRATEGY YOU CAN STICK TO!  

A lot of the time people talk about forex strategies, including trading plans and specific trading method. A consistent and successful trader will use a solid strategy that provides an advantageous entry signal but it also vital to consider 

1. Position sizing 

2. Risk Management

3. How and When to exit a trade

Position Size can be difined as how much you want to earn per day;

Say it is 160$ then safe lot size is first 0.02 then 0.05 then 0.10 ( as per my experience)

It is proposed to place Short term trades using time interval M1

Risk Management;

inclued stop-loss on each and every trade you place, that is (-2$) maximum is (-4$)

How and When to exit a trade;

Watch the trade until you close it,

When the curve pattern about to change, may be from the peak or from the bottom,

that is the time to exit. 

Thank you & Good Luck all the beginner traders..,

Thank you Apiary,

Thank you Shawn Lucas.

Shantha Jayasiri

 

Thu, 11/22/2018 - 2:19am