Defensive FX Trading
Defensive FX Trading : Rob Booker mentioned in his book The Currency Trader’s Handbook, that he aimed to achieve a 10 pip profits every day rather than a 100 pip days. He does this by using break even stop after a predetermined take profit level is achieved. 세계주요지수 This is particular suitable for smaller accounts and the constant movement of forex price is high, making it harder to time, profit and remove the stops.
The way he does this is quite simple:
1. He enters the market just as the candle closes with take profit just 5 pips.2. He removes his stop loss and the trade is allowed to run as long as possible.3. When the trade goes in his favor, he closes the trade and puts the profits in the bank.
This means that he can take as much profit as he wants when prices go in his favor. He can make money indefinitely if the trade goes in his favor.
Very simple and very reliable. This type of method will keep you in the game longer and makes you gain competitive edge over the market. It’s a fact that most hedge funds managers use this basic method to get a large percentage of their returns.
It’s not perfect. You will have losing trades but given the right strategy, you could grow your fund over time.
But it will get you to the desirable goal of 10 pips profit per day. With a small account, this profit can quickly add up over time. You see, a hedge fund manager will want to know how to get 10 pips per day. You can be an independent trader and be at your best for taking the advantage of 10 pips profit per day.
You can see how simple it is to get to 10 pips a day. The only thing you need is a proven and tested trading strategy.
What you need to start with is a proven system. This means, you have to have a system that works, so back test it until you are sure that it does. There are many forex trading system sellers out there that don’t actually have a proven trading system.
They will tell you “pot proven”, but that doesn’t help you, because pot means subjective, not definite. This is why I am a fan of the KISS method. This method doesn’t have a specific definition, but it is a system that is proven to give at least 80% success rate.
It is a system that cannot fail. The creator of this course is so sure of its success that he is willing to release it. He calls it his trading strategy, but I can call it what I want, Forexrunning.
In the course there is a video where he shows how to use his system on a live account with real money. This is the easiest way to know if the system is good or not. Imagine, having the system on your account, depending on the results of your testing, you could see how much money you could be earning.
He also has a forum where you can learn a lot more about his system and he will trade his real account live in the forum during the release of his course.