Manual Systems
Forex Rebellion – DaddyForex Update
22
Dec
Since the last article I am now trading on the 60 min time frame which has produced a lot more trades sometimes you get up to 10 notifications at a time. The most important factor is to keep an eye on the stop loss. As the trade goes with you I adjust the stop loss in two steps to the opening price so as to reduce and eliminate losses. Care has to be taken not to reduce the stop loss to such a degree that the market cannot breathe thus missing out on winning trades. By adjusting my strategy I am finding that I am getting 5-7 winning trades out of ten. I am using the target 1 point 5 exit strategy I set my stop loss at e.g. 40pipsand take profit to 1.5 times the stop loss. A 40 pip stop gives me a 60 pip take profit plus the spread e.g. 2 pips which makes a take profit of 62 pips. I have increased my risk by trading at 0.2lots.
~DaddyForex
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