My Personal Currency Trading Strategy

lovemyprofits

Newbie
5 0
My day begins at 1am Eastern Standard Time. My trained eye is carefully watching the currency markets in Europe as their day begins. For now I am just watching. Getting into the rhythm and flow.
Sometime in the next 10 to 12 hours I will execute just one trade. This trade will have a high probability of being successful, high return potential, and little margin for error. I expect to make a return of 5% of capital on this trade. I will accept less to protect unrealized profits. The maximum loss is always 1% of capital.

When I enter a trade it is not a gamble but an educated guess based upon knowledge and experience earned from spending 10 hours or more each day for 22 years, watching and trading the currency markets. It is similar to a veteran fireman entering a burning building; he knows what risks he can safely take and achieves results unattainable by others.
 

lovemyprofits

Newbie
5 0
Personally, I like the Pound. The flip side is the USD. Fridays 0.3% drop in producer prices was significant. Greenspan worried about deflation and this number points to it.
I think Pound can reach or exceed your level on the back of a weak USD that just took another negative shock.
I traded sterling most of my Bank trading career and found it was much more predictable against it's major trading partner - Europe - than the USD.
 

Car Key Boi

Well-known member
396 8
lovemyprofits said:
My day begins at 1am Eastern Standard Time. My trained eye is carefully watching the currency markets in Europe as their day begins. For now I am just watching. Getting into the rhythm and flow.
Sometime in the next 10 to 12 hours I will execute just one trade. This trade will have a high probability of being successful, high return potential, and little margin for error. I expect to make a return of 5% of capital on this trade. I will accept less to protect unrealized profits. The maximum loss is always 1% of capital.

When I enter a trade it is not a gamble but an educated guess based upon knowledge and experience earned from spending 10 hours or more each day for 22 years, watching and trading the currency markets. It is similar to a veteran fireman entering a burning building; he knows what risks he can safely take and achieves results unattainable by others.
excellent stategy. I'm the same. On a average day, i might make only one trade, maybe none at all if it's a Fed interest or non-farm payrolls announcement day

sir, the Car Key Boi salutes YUO!
 

lovemyprofits

Newbie
5 0
I trade short term using 8 to 1 leverage. I risk just 1% of capital on a trade. So 10 pips in EURUSD is my stop loss limit. On a day like trade figs or employment I wait for the market to settle down.

When I see 5 minute bar chart ranging for 5 or more bars I can get invloved if I see something worth while.
 
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