G'day.
I thought I would start this thread after discussions from another. The thread was called Rags to Riches. It basically outlines a Risk Reward system of 2:1. With this high R/R system it is possible to increase a deposit of $50 to $50 000 with 9 Net winning trades. To be able to complete this though it is required that the trades taken (as I mentioned earlier) needs a R/R of 2:1 (you will need a high leveraged account too ie 1:400). In other words the Take Profit needs to be double of what the Stop Loss is. (For full details see thread "Rags to Riches in 10 or 20 trades - Simplicity at its finest") http://www.forexfactory.com/showthread.php?t=444377
As most experienced traders know this type of trade setup is very difficult to find, especially on a consistent basis. That's where this thread comes into play. I figure if people were serious in achieving the R/R scenario outlined in Rags to Riches then a discussion could be started (here) about what a high probability trade looks like and how to trade it. I am hoping that people (including myself) will post high probability trade setups so that they may be analysed and eventually traded. For example: If pa is continually challenging a weekly high (or low) and the 4 hour chart and then 1 hour chart is setting up to tipping point of a break out then that in my opinion would be a high probability trade set up. I'm sure we all have had those moments when we were staring at our charts and suddenly a setup pattern emerges and hits us between the eyes. That's what I'm talking about.
I think I need to stress here that unless you have a good foundation in the FOREX market and are currently profitable in your trading it is ill advised that you waste both resources and the possible emotional energy to attempt these types of trades... but I'm not your mother. By all means follow along and try to learn from what people have to say because that is the point of this thread.
About me. I am still fairly new to FOREX (about four years) and am still learning. I trade profitably from the basics. There is nothing too flash up my sleaves just hard work. I am hoping to attract traders to this thread who have more experience than me so that I can learn from and improve my skills (not to mention to make some money along the way).
So that's that. I'll put it out there (my 1st thread) and see how it goes.
I thought I would start this thread after discussions from another. The thread was called Rags to Riches. It basically outlines a Risk Reward system of 2:1. With this high R/R system it is possible to increase a deposit of $50 to $50 000 with 9 Net winning trades. To be able to complete this though it is required that the trades taken (as I mentioned earlier) needs a R/R of 2:1 (you will need a high leveraged account too ie 1:400). In other words the Take Profit needs to be double of what the Stop Loss is. (For full details see thread "Rags to Riches in 10 or 20 trades - Simplicity at its finest") http://www.forexfactory.com/showthread.php?t=444377
As most experienced traders know this type of trade setup is very difficult to find, especially on a consistent basis. That's where this thread comes into play. I figure if people were serious in achieving the R/R scenario outlined in Rags to Riches then a discussion could be started (here) about what a high probability trade looks like and how to trade it. I am hoping that people (including myself) will post high probability trade setups so that they may be analysed and eventually traded. For example: If pa is continually challenging a weekly high (or low) and the 4 hour chart and then 1 hour chart is setting up to tipping point of a break out then that in my opinion would be a high probability trade set up. I'm sure we all have had those moments when we were staring at our charts and suddenly a setup pattern emerges and hits us between the eyes. That's what I'm talking about.
I think I need to stress here that unless you have a good foundation in the FOREX market and are currently profitable in your trading it is ill advised that you waste both resources and the possible emotional energy to attempt these types of trades... but I'm not your mother. By all means follow along and try to learn from what people have to say because that is the point of this thread.
About me. I am still fairly new to FOREX (about four years) and am still learning. I trade profitably from the basics. There is nothing too flash up my sleaves just hard work. I am hoping to attract traders to this thread who have more experience than me so that I can learn from and improve my skills (not to mention to make some money along the way).
So that's that. I'll put it out there (my 1st thread) and see how it goes.
As the lights go by so too do the shadows move