There are some important thing what a trader has to consider before enter on the biggest and the most dangerous financial market.
I am a professional trader of the Forex market so i would like to help for the people who has no knowledge and experience to trade the market and make consistent monthly profit.
Every institutional participants has softwares to monitor where are the stop loss-they get this information from the liquidity providers or from central banks where are the prices, where they can buy „cheaper” that is not a secret. But they have stophunter method as well, but the real market traps happening when the fundamental news released when a trader watching the market during the the highest impacted economical news they trade the direction of it cause they think the price will rise or fall all of the day. They set up the stoploss around the place where they entered. And if it is once lot s of stoploss level activating...............the price suddenly will go to the opposite direction most of the situations.....
News strategy- As simple as Perfect
Most of the people complicate the trading as much as they can. The trading it s easy, if you have strategy, money management and some rules-let s say a trading system. Now i am telling my trading system. I have worked with it and i made from this strategy 5-15 % monthly profit consistently.
When a news coming up. For example at 10.30 any highest impact news of the GBP. I check the M15 chart on GBP-CAD or GBPAUD. When the M15 candle has closed at 10.45 i start to trade to the opposite direction.
My entry level will be BULLISH if the „news candle” Bearish. I place a BUYSTOP above the news candle 7-8 pips. My stop loss will be under the daily low -5 pips. The Target always 1:1( initial risk)
My entry will be BEARISH if the news candle Bullish if it's i place a SELLSTOP under the news candle -5 pips
I dont trade if the stop loss bigger than 60 pips. I trade a day once. My risk is 2% of the equity/trade.
If the first 3 trade has been lost i reduce the risk from 2% to 1.5 %
Try it on Demo first. It s working on USDJPY, USDCHF, GBPUSD, AUDCAD etc.