One Mini Lot Per 10,000 Dollars
Open Trade Maximum of Ten Mini Lots
Stop Loss:
Maximum 100 pips...If it is possible to get out of the trade sooner, do so.
Take Profit:
100 to 200 pips. Once a trade goes profitable move your stop loss up to break even. Reenter later if necessary.
With Practice expect 10 to 20 percent growth per month...except perhaps in August.
Weekly Chart Determines Trend
Use daily and 4 hr. charts for pattern analysis.
Use 1 Hr. for a magnified view of pattern analysis and entry.
Use 15 min. chart for precise entry if possible.
Trade in direction of COT Charts when possible.
Counter Trend trading is encouraged but with practice.
Trade in direction of Moves in the Interest Rates
Understand Whether the market is in a risk seeking environment or risk adverse environment. Trade accordingly.
I also use a simple 20 period moving average based on median price. If I can I use it to time my entries. If the price is already past the MA, I enter using a breakout pattern.
I use pivot points. Both weekly and daily. A pivot break can be a useful entry. Pivot points are very helpful at measuring the market.
I limit my trading to between 2 am EST and 10 am EST. Limited exceptions allowed.
I try to avoid entering positions during major news events. Preferring to wait 30 minutes after the event.
Open Trade Maximum of Ten Mini Lots
Stop Loss:
Maximum 100 pips...If it is possible to get out of the trade sooner, do so.
Take Profit:
100 to 200 pips. Once a trade goes profitable move your stop loss up to break even. Reenter later if necessary.
With Practice expect 10 to 20 percent growth per month...except perhaps in August.
Weekly Chart Determines Trend
Use daily and 4 hr. charts for pattern analysis.
Use 1 Hr. for a magnified view of pattern analysis and entry.
Use 15 min. chart for precise entry if possible.
Trade in direction of COT Charts when possible.
Counter Trend trading is encouraged but with practice.
Trade in direction of Moves in the Interest Rates
Understand Whether the market is in a risk seeking environment or risk adverse environment. Trade accordingly.
I also use a simple 20 period moving average based on median price. If I can I use it to time my entries. If the price is already past the MA, I enter using a breakout pattern.
I use pivot points. Both weekly and daily. A pivot break can be a useful entry. Pivot points are very helpful at measuring the market.
I limit my trading to between 2 am EST and 10 am EST. Limited exceptions allowed.
I try to avoid entering positions during major news events. Preferring to wait 30 minutes after the event.
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