Hello Traders,
My trading system Forex 4 Profit appeared on The Grid today. Will be using this thread to post updates as things move along. System details can be found here:
The Description Tab contains an explanation of the system.
Thought I should post a little write-up about how I use stops and take profits. When a new trade is opened, a Stop Loss Order and a Take Profit Order will also be opened. They are initial orders used to cover the position in either direction in the event of some unexpected happening in the market or mechanical failure. Minimizing loss is a major focus. These values are preset. As the trade progresses, these targets may be modified. The Stop Loss value is set to allow the trade to perform without being stopped out. Orders are usually actively monitored. The stops used are not designed to be hit by price action.
When a trade is modified, C2 will cancel the old orders and open new ones, which you will see listed either under Recent Signals or by clicking the See More Details link under the Closed Trades section.
Hello Traders,
I started this system last week Wednesday but since tomorrow begins a new month, I decided to do a Weekly Wrap-Up Post today.
Overall, carefully moving forward given the market climate with Greece etc. Had two trades that each took an average of 2 hours to go nowhere. Those trades were closed at breakeven. If a trade is taking that long to move, that is not a good sign to me. One trade, NzdUsd did go to target but several hours later. It is my preference not to be in the market unnecessarily long just waiting for a move with this strategy. You may view those trade details here:
Looking forward to more pips in July.
Take care.
Hello again,
Have had a surprising July thus far. Processing through some C2 trading fears but continuing to keep drawdown low. Didn’t expect them, but I am glad that my system includes a method to deal with the emotional issues that can arise. Coming to the end of that challenge: that’s the good news.
Will keep you updated.
Take care.
