STRESS FREE TRADING
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  1. #1
    Rookie kagho's Avatar
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    STRESS FREE TRADING

    yes this strategy is just like i said(stress free) for you do not need either a stop loss or a take profit.you dont need to constantly watch the market for trading signal or the direction of the trend.

    WHAT DO YOU NEED
    common sense
    a lot of patience
    you need to trade a currency ie. USD , EUR, etc.why am i saying this this is because pairs eg eur/usd dont trade or move on their own thier movements is determined by the action of the euro or the usd, it usd is stronger then eur/usd will sell and the opposite for euro

    THE BASICS
    say you analyze the market and see that the usd is strong.so traditionally you will sell the eur/usd and place your stop loss and the take profit then wait for either one to be hit.if you were right you get your profits but before you do you have decided that you are ready to lose the risk ie stop loss in an attempt to make the profit.

    WHAT I WOULD DO
    if i see that the usd is strong and the eur is weak, i would also look at other correlated pair like the gbp/usd and then arrange them in the order of the strongest to the weakest and say i find that we start with usd as the strongest then gbp and eur as the weakest,so i would trade the usd currency
    i will sell eur/usd for i expect it to sell more than gbp/usd.but because we are never too sure of our trades and nothing is a guarantee in forex then i have to put a safety measure on the trade and because i expect the gbp/usd pair to also sell as they are positively correlated i dont sell it too but i make it be my safety line so i take the opposite trade on it.and that will be a buy position

    WHY YOU ASK
    if the trade goes as i had analyzed then this will mean that eur/usd sell will be in profit as the usd was strong and the eur was weak.but gbp/usd would be in a loss as the usd was still strong ang gbp was weaker but not as weak as the eur so this means that the profit will be more in eur/usd than the loss in gbp/usd.so overall i will be in profit.
    the purpose of the counter trade is to caution you against losses
    what if i was wrong then the eur/usd would be in a loss but the gbp/usd would be in profit this means i may be in profit and if it is a loss then it is a small loss so what i will do i just hold on till when the results are good and close both of them
    WEAKNESSES
    so far so good the only weakness is that some trades my take up to a week before they get to where yuo want to close them out
    some times the profit is not much but it is still a profit
    there is never a sure way of telling the strongest and the weakest currency but you can start off at looking at all the usd,eur etc pairs then the one with the most buy positions is the strongest and the opposite is true for sell

    lastly i dont think that posting even charts is as important for we are not trading any parttern or resistance or support, but i will keep you up dated on the trades that i take from now on.hope we move along perfectly

    CONCLUSION
    all criticizers ,newbie and pro traders are welcome for a healthy contribution
    this is just a guide and even if i had a million pages i cannot talk about it all so it is up to you to test it out and find out if it is working out for you .

    thanks to all

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  2. #2
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    Sir, as regarding your conclusion, I do not think that this thread should have a criticizers because you have really spoken well. You have actually mentioned many things about trading in various aspects, to the point that you even talked about the correlation itself, and I think that it is a good way for traders to really evaluate what they are doing in the market.

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  3. #3
    Rookie kagho's Avatar
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    cozard007, yes bro this market is so complicated and so we as traders have to only use simple trading style to concure a complicated market will look forward to post some of the trades i took before the thread was approved

    - - - Updated - - -

    this trade was running as i was waiting for the thread to be aproved

    after closing this one i took another gbpyen trade but currently i dont have time to upload the trade
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    Rookie kagho's Avatar
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    friday trades

    here are the total trades i took on friday.and can some one guide me on how to take screen shorts from the mt4 platform as when i press the print screen nothing happens
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  5. #5
    Rookie kagho's Avatar
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    i have just taken an nzd/usd(sell) trade and aud/usd (buy) will post the results of the trade when closed

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  6. #6
    Rookie kagho's Avatar
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    todays trades so far

    here is the trade for eur/usd and gbp/usd entry


    how the trade reversed on my side first




    and this is how i closed them including the early nzd/usd,aud/usd trades all(hedges) with a profit

    hope to trade some more profits in the next trades

    - - - Updated - - -

    when i said you need a lot of patience this is what i meant.this trade has been running from 20th and today it turned into profitability
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  7. #7
    Rookie kagho's Avatar
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    i have a uer/nzd buy and eur/uad sell plus gbp/jpy sell and eur/yen buy will post the results when the trades are closed or up dated

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  8. #8
    Rookie kagho's Avatar
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    Quote Originally Posted by kagho View Post
    i have a uer/nzd buy and eur/uad sell plus gbp/jpy sell and eur/yen buy will post the results when the trades are closed or up dated
    just closed this one out in profit now will post the trade tomprrow

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  9. #9
    Rookie kagho's Avatar
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    Quote Originally Posted by kagho View Post
    just closed this one out in profit now will post the trade tomprrow
    here is the trade closed position
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  10. #10
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    I have read the strategy here but I still didn't understand how to determine EUR is stronger than USD or USD is stronger than GBP so you decided to buy or sell in certain pair. So basically, you're hedging with 2 pairs right? Would you please explain us more about your consideration to sell EUR/USD and buy GBP/USD (in your first statement) or vice versa. From whole explanation, it is right that the strategy is stress free because you're using Stop Loss and Take Profit in every transaction and no need to wait in front of chart too long.

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