Forex/Commodities – 4hr Trading using MT4 (Live)
- AUDUSD – Long
- USDCAD – Short
- NZDUSD – Short – Closed Friday due to cross back into channel
I recently learned a new staged entry process which isn’t for piling on the profits but more to remove risk completely as early as possible.
I need to get into the mindset the CAPITAL PRESERVATION is key, not PROFIT.
This way, I’ll always have something to trade with, my losses will be small and my profits can still run away…
I’ve spent a little time backtesting this new 2 stage entry system on the charts, and I found that it nearly always reaches 1R profit at somepoint, which will turn the trade risk free! Meaning that even if the price turns from here and comes right back down to my original stop loss, I will have broken even. Anything over the stop loss is profit, whereas anything over my entry point right now is profit.
I’ll explain in greater detail tomorrow in a blog post when I can….
I’ve planned a Traders Coffee once a month for the next three months.
Basically I’ll be working on trading and Lexi Art whilst over-dosing on caffeine and probably cake, but I’m encouraging people to come along to get together and begin to create a community and a supportive network here in the North West.
Facebook Group Forum:
A boring disclaimer… coz I don’t wanna be sued and stuff!
The information contained within this blog/website and any information contained in any social media account related to EXF Trading is intended for interesting reading only.
I am not qualified or considered an expert in any aspect of trading and the words which I write are my opinion only and not to be considered correct.
If you trade based on any of my information, you do so at your own risk.
I urge you to do your research and make your own conclusions before considering trading.
You are responsible for your own trading actions.
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