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Trading Strategy

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Trading Strategy

Important things to remember before entering any trade:

Position sizing (max 2% per trade)
Risk management (2:1 or 3:1 reward to risk ratio)
How to exit a trade (using stop loss, indicators or based on desired target)

Select one or more major currency pairs based on the liquidity and/or the chart pattern.
Look into Weekly, Daily, 4 hour, Hourly chart pattern to confirm the trend.
Confirm Supply (Resistance) and Demand (Support) levels where price turns based on various chart patterns such as rally base rally, rally base drop, drop base drop, drop base rally.
Confirm Entry, confirmation and Exit points based on the indicators such as ATR, 50 SMA, Envelops, Bollinger Bands, stochastic, MACD etc.
Enter the buy or Sell order using stop based on 1:2 or 1:3 risk to reward ratio

Mon, 12/03/2018 - 4:16pm

That for sheering your idea.