Contest - mhwaheed Обсуждение

1- I deal with my trades using all time frames charts and indicators to predict the prevailing trend, strengths and weaknesses of the instrument I am trading to take advantage of that in opening long and short positions based on preset orders placed at precise levels using Febo retracements and extensions, trend, support and resistance lines from all time frames superimposed together

 2- to fill and place my buy and sell orders and set my profit taking levels in whichever direction the instrument moves no matter which way it decides to go in the short time frames as long as I am following the main prevailing trend without trying to predict and speculate into the distant future or what will happen in the very short term.

 3- With this strategy and good money management I can maintain open short and long positions to safely close them with maybe 30 to 80 pips gain on trade along the trend and maybe 10 to 20 pips against the trend.

4- As to money management I always try to reserve 1/3 of my balance to place many 20,000 units x100 medium risk buy orders at specific and precise price levels based on my technical studies and I also do the same for another 1/3 of my balance but on the sell side so that if most are executed in one direction or another

5- I will always have 1/3 to half of my balance in cash to be able to take advantage of unexpected very short term opportunities and be able to increase or decrease my stop losses if needed to avoid getting into high risk levels and try as much as possible to close in green or minor losses if I have to.

 6- So I usually start with many short term medium risk trades in the direction of the main trend and if needed I make them lower in risk and longer term by setting higher profit taking levels and changing SL’s manually to appropriate levels.

The Contest hasn't started and you trade ?

I know but i don`t know about myfxbook.com option so before contest I am trying to learn.

Thanks

Well, You know you will be disqualified for begin too early!

That's called cheating!

Cheers!

Dear Friend I am not using this for contest I told you I just learn about Options. I know about contest Policies

Thank You