Fourstarforex

System: Fourstarforex

Description: I have developed a trend trading system based on an overall focus on complete account/money management. I keep each trade as close to about 3% of the total account size as possible and set TP and SL at the time as the trade is opened. While I monitor all the trades closely, I rarely alter them or close the trades early. Overall probability is a key focus of my system and heavily considered when the targets and stops are set. As I usually stick to my original targets and stops, this strategy is much less subject to bad trading decisions based on emotion and fear. I choose trades based on technical and fundamental analysis using a 1:1 risk ratio which keeps my drawdown in check. As the trades are open for an average of about 10 days, part of my decision when choosing trades is to consider their impact on the total exposure on any given currency. This is done to limit the risk to the total account balance in case of unusually large movements of any individual currency. Trades are always at least 100 pips in target and stop. Often up to 400. This reduces the occurrence of small price spikes killing the trade and incurring losses in otherwise accurate directional trade choices.

Type of Trading: Real

Broker: GOMarkets

Started: Feb 01, 2011

Views: 2398

Tracking: 39 users

Currency Pairs: AUDCAD, AUDJPY, AUDNZD, AUDUSD, CADJPY, CHFJPY, EURAUD, EURCAD, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPJPY, GBPNZD, GBPUSD, NZDCAD, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY