Yes, I always ensure my StopLoss in place for every trade. I am comfortable with 1:500 leverage. So still on the stats I am making sure that my winning rate is far greater than loss rate.
I just discovered something today. It is risky to use lagging indicators. One thing that help me though is that face that I combine about two to three indicators. So the three of them can't give you wrong signal at the same time. I am most confident of my position when all indicators give same signal. Do you care to share what trading strategy you use on this thread?
The Alexander Helder strategy on Moving AVR and MACD is very effective as well. I am now combining these two strategies on a regular basis.
Thank you for mentioning you're using fundamentals and new releases with your technical analysis because I strongly believe such (fundamentals and news releases) is needed to help give that overall market context to better understand trade signals if they appear...especially for forex trading. Do you also plan on discussing specific fundamental reasons or news releases in this thread with your trade analysis ?
Thank you for your view point. Yes, I plan on adding the fundamentals and any news release that might affect the signals of an indicator. I remember a certain time ago when I traded the USDJPY, my technical analysis gave me a buy signal, but I discovered that a certain news was released 5mins before I had made up my mind to enter the trade. If I had not checked the news, I would have entered the Buy position and lost out.
Yeah, learning basic knowledge and test trading strategy should be top objective of forex trading. Actually micro live trading should be best option.
Based on this strategy I present to you a signal for today USDCAD TP - 1.3389 SL: 1.3324 Trade is active now. you can join
Loftrader, I would like to know how far you have gone with this trading system. Are there set backs? Have you discovered any new system? Thanks
Hi, Loftrader! Are you still using this strategy? Please let us know if there is any new strategy that you have discovered and its working for you.
Sometime technical analysis can't work on news especially high impact, but not always news will influenced the currency, and still important to check out upate news daily