Hi everybody,
I have posted several tread on this forum and I have use this sytem live. I my self is newbie. As new fx trader I would like to give some advice to new fresh and eager trader to PLEASE read this wonderful system on Page 6.
Then print it out, read it as many time possible, jot down the important IB criteria, entry & exit point, stop losses and what chart to use and the right time to trade.
Before going live, please test the system on demo for say a week or a month. Just as James have repeatedly said in this forum, before you began trading LOOK at:
1. The 1 hour chart and study the trend, either going UP or DOWN. Or is the trend moving sideway
THEN:
2. Go and focus on the 15 minute chart to identify for IB, entry, stop losses and exit.
One of the most important thing not to FORGET is to read the upcoming news as it will influence the market trend. I tend to overlook this, and sometime the consequences can be 'fatal' to the equity.
My trading strategy with this system for exit is by pips count. Normally the minimum set count of pip I try to profit/gain will be not less than 20 with maximum being 50. This is my strategy and not a recommendation for everyone.
Happy trading.
