Hi,
I've been trading Forex, stocks, futures and many commodities for several years, sometimes losing, sometimes winning. After several years I can't predict the market BUT I know what works for me and maybe it could work for you.
1. Trade mid term -> For me, short term is not an option due to my actual job. Long term makes me feel out of the market and I feel I'm losing reinvestment opportunities every week. So, mid-term is key for me.
2. Always set up an entry point, a take profits and a Stop Loss -> I never change them. I only increase stop loss if a new low has been made and after that a new high happened, that makes me feel comfortable enough to update the stop loss.
3. Winner set-up -> I write in an excel spreadsheet all the important things. Resistances, supports, trendlines, major news coming soon and so on. If most of them are aligned with my direction, I trade.
4. Share my strategy in Zulutrade -> This way they track my performance and I've added pressure to keep doing the strategy in a safe way. I try to avoid passionate trades or trades decided in less than 1 week. To be sure that I'm doing well I check my ratings in Zulu4me, those guys analyze all zulutrade traders and rate them. I'm not a top from zulu4me point of view, mostly due to my short track record (<2y)
5. DIVERSIFY -> I usually trade 3-4 currencies as much uncorrelated as possible. Furthermore, now I'm copying other top guys from Zulu4me. So, I'm not only diversifying currencies but also DIVERSIFYING STRATEGIES!
6. Don't read news -> That makes me feel uncomfortable because you can always find good and bad news, so I only read charts.
This is what worked for me for the past 2 years. Now, what do you think I can still improve?
Regards,
I've been trading Forex, stocks, futures and many commodities for several years, sometimes losing, sometimes winning. After several years I can't predict the market BUT I know what works for me and maybe it could work for you.
1. Trade mid term -> For me, short term is not an option due to my actual job. Long term makes me feel out of the market and I feel I'm losing reinvestment opportunities every week. So, mid-term is key for me.
2. Always set up an entry point, a take profits and a Stop Loss -> I never change them. I only increase stop loss if a new low has been made and after that a new high happened, that makes me feel comfortable enough to update the stop loss.
3. Winner set-up -> I write in an excel spreadsheet all the important things. Resistances, supports, trendlines, major news coming soon and so on. If most of them are aligned with my direction, I trade.
4. Share my strategy in Zulutrade -> This way they track my performance and I've added pressure to keep doing the strategy in a safe way. I try to avoid passionate trades or trades decided in less than 1 week. To be sure that I'm doing well I check my ratings in Zulu4me, those guys analyze all zulutrade traders and rate them. I'm not a top from zulu4me point of view, mostly due to my short track record (<2y)
5. DIVERSIFY -> I usually trade 3-4 currencies as much uncorrelated as possible. Furthermore, now I'm copying other top guys from Zulu4me. So, I'm not only diversifying currencies but also DIVERSIFYING STRATEGIES!
6. Don't read news -> That makes me feel uncomfortable because you can always find good and bad news, so I only read charts.
This is what worked for me for the past 2 years. Now, what do you think I can still improve?
Regards,
A way to trade Forex that works for me
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