Until now, I still don't find a holy grail forex system that can win 100%. Maybe someday, one of us will find that. But until that day, do we stop trading forex? Personally, I won't wait for the holy grail. No one is perfect just like forex system. So, what can we do to survive at this forex jungle?
The answer is simple but hard to do, minimize your loss and maximize your profit. If you want to survive, your profit must be greater than your loss.
Ok, let's talk about maximize the profit. There are several ways that I would mention it below. Here they are :
- Divide your position into several trades. The goal of this system is gaining higher level TP (Take Profit) and keeping the profit step by step.
- Use Trailing Stop after position is profit. This could be a good way to eliminate the fear factor and saving a lot of time beside doing by manual.
- Use some meta scripts to handle your position easier. There are some scripts for MetaTrader Platform that can help to handle position much easier. For example, there is a script for closing all profitable position. They can help a lot for trader who trade in a short time or scalping.
- Use different strategy in different market time. As we know, there are some market in a whole day. Trading day begin from Asian Market, European, and US. Those market has a different pattern as we know sideways and trending. In common case, at Asian market price usually is in sideways moment then stop at European to move as in trending and continue in US market. Find the suitable strategy for each of market time.
Labels: Learning
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