Hello all,
I have a trading style that i wanted to share with you, Im using a basic system but with no stop losses. instead i hedge my postion so im buy and sell at the same time. This locks the amount in my account so i dont lose money.
It's not as perfect as it sounds, there's still a good amount of risk involved. The way Ive been doing this is very simple. I use a 10day and 25day MA, for signals, on a 4 hr chart.
I when i get a trigger i buy and sell at the same time, you need a brooker that will allow this FXCM, and Interbank and so on. So no matter where you end up in the market your locked in. Then of course i wait for a another triger of the oppsite direction before i let a contract go.
Let go over a trade.
I get a signal open two contracts buy and sell. Wait for a signal of the opposite dirrection, drop winning contract pickup another buy and sell.
know you have two contracts going that dirrection. so if the first trade was a buy, and it make 300 pips, and on your sell -300 pips. You make your profit when the market comes around. You must consider pair you are using GBP/USD works for me because it trends both directions. this is a slow method, and if your a rookie at trading you may get scared when you see negative postions, there's months that ive made 1000+ pips, an other months where i had to wait it out before i can get paid. if you really want to see what im doing put on your char 10 ma and 25 ma, on the 4 hr, everytime it crosses imagine a sell and a buy. release one contract when you get an opposite signal. and pickup another buy and sell.