True…this the only one system i use and profitable…simple but effective…
The best advice i can give you is not to be so greedy and not to be so afraid. Depending on your account size and your trading style (long or short term trades) calculate your risk and reward and stick to them.
Powerful advice you gave. It all comes to “Too much of anything its not good” …Once predictions have been thoroughly made, the S/L can be hit.
Historic support and resistance levels rule my entry and exit points. If potential win no more than 12 pips, I don’t bother. If exit level too far from my entry point, I simply adjust size of my lot. I never go beyond 4% of the size of my account for SL. If so, no worth it and I wait for better opportunities. That’s what works for me. Good luck!
Thank you for your feedback.
Im happy to be of service and contribute in any way I can.
Good luck to you.
Well calculated risk helps us to make better entry and exit in risky Forex market. We should first make a proper observation over the market and understand the market trend and formulate some good strategies to follow.
If you’re saying follow the trend, I agree.
Forex market will be highly profitable if we manage to make a right entry and exit but to do this we had to follow up with planning so we should calculate the risk that we want to take otherwise sudden change in Forex market will blow our account.
Or, to put it another way -
“Taking the bus is a very convenient way to travel around town. But sometimes buses can crash so we should make sure we get off the bus at the stop before the crash”.
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[quote=“frazali32, post:7, topic:107711”]
i place tp level according to what charts tell me. and place stop-loss according to what my profit levels are. Is this wrong?[/quote]
Yes, very wrong.
Your stop loss should be determined by the current chart, its volatility, levels of support and resistance, and so on. Not by being a fixed number of pips or a fixed proportion of the target.
What on earth does any of that have to do with this thread? Have you actually read the thread at all?
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Ah ha. Lets introduce you to our mate @bearish. This joker hangs around the forum like a
He contributes nothing to each thread other than pure gibberish designed to daze and confused the general population and needs to be called out on each and every occasion. There is never any follow-up and hopefully he is now regretting the day he choose to bomb my thread.
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Entry and exit points are most important factor we can achieve our targets once we are able to make a right entry in Forex market it requires proper observation and analysis so that we will be able to execute well.
You mean well btclife but you’re barking up the wrong tree.
Entry points and exit points are two totally different aspects of trading. They do not require even the same mental approach, let alone converse TA signals. Of the two, it is the exit that puts the money in a bank, either yours or someone else’s. Until you make the exit, there is no way to put a value on the entry. Plus, what seems to be a worthless entry for one trader could be turned into a nice win by another.
God, you’re polite, Tom!
Unfortunately the proportion of “junk posts” that can mislead people, here, is now so high that it’s just impossible to respond to them all pointing out how deluded most of their assertions are.
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Entering:
Buying/selling at a support/resistance area with the trend and after you see a signal candle - ideal.
Exiting
If you are correctly identifying a trend and entering at the right point, price won’t be doubling back on you because it is continually stairstepping. However, if you see it start stalling, arching, consolidating sideways - might want to get out.
The other thing to consider is are you in a trade to ride the trend as long as possible, or are you trying to get in - make some money - and back out. The general rule I’ve heard most people say is shoot for 3x your risk minimum.
Forex involves high risk so we had to make and follow some proper trading techniques to make right entry and exit from the market. First step should be the analyze over the market and keep eyes on other factors also.
You are right! It looks easy to identify the market trend, but the reality is different! No doubt, we have to make our trading plan with money management and risk management policies!
I am using a great EA that gives me entry and exit targets. In fact once My trade start to move in profit then the exit thing come to action with 2 options. Trailing stoo and fractal stops.
We should first identify the market trend which can be done by observing properly. We also use tools to decide when to enter market and when not. Analyse previous trends and news factors so that we will be able to enter exit successfully.
Once you open a position you should set your exit point with risk per trade that was calculated earlier. Usually exit points are placed around strong support and resistance levels