Forex secret strategy

I know many traders who started learning forex almost when I did, but they are still learning, testing different systems, and losing money.

Why did I started making money after few months of learning and practising, but these people are still learning? What is the secret of my success?

I did not want to invent the wheel from the scratch. We already have everything we need to trade and make money. All of the tools we need are accessible for free. Why should we make our lives too complicated? I learned the technical analysis and candlestick signals and patterns. This is what I did as soon as I started learning forex. After a while, I almost mastered the technical analysis and candlesticks.

I have explained it here. So I kept everything simple from the first day, and I started getting good results very soon.

I did not try different indicatorsbecause I did know that if I wanted to do it, I would have to spend the rest of my life on it. There are zillions of indicators, trading systems, and….

But there are some simple and easy to use tools that are already tried by thousands of traders, from Japan to USA, and it is proven that they work. So I used those tools and forgot about the others.

I simply use what I have learned and the tools Forex have. I am not looking for anything else. I do not let any emotions interfere and make me decide wrongly. I check the charts and I place the orders if I see a strong signal. It is as simple as that.

There is nothing complicated about trading. Everybody can do it. I have a car my trading tools e. Every day, I turn on the car and follow the address. I reach the destination within 30 minutes. This is what everybody is able to do. There are always some weak setups on the charts. Those setups are for the traders who want to lose money. They are not for the professional and experienced traders. Secret I leave those setups for the secret. I wait for the best and strong setups, and fortunately they always form.

There are always good opportunities in the forex market. Stop loss is one of the most important things in trading. You can easily wipe out a million dollar account with just one position, if you do not set a proper stop loss. I have seen someone who wiped out a 7 million dollar account, because he foolishly did not set any stop loss, and emphasized that his positions were correct and the market would finally turn around to follow his favourite direction.

The market did turn around when his account was already blown up. Your trading system should tell you about the best and most optimum place to set the stop loss. Otherwise forget about it. You should set a proper and reasonable stop loss which is not too tight or wide, for each of the positions you take.

You should not widen your stop loss when the price goes against you and is about to hit the stop loss. Also, please note that a too wide stop loss is like having no stop loss. And a too tight stop loss causes you to lose money even when your position is correct. To stay away from the emotions, I do not check the charts when I take the positions every day after the daily candlesticks close.

Checking the charts when you have open positions can trigger the negative and harmful emotions that cause you to make mistakes. When you see your position is losing, you get forex and you close your position not to lose more, or you will widen your stop loss because you are afraid of losing too early and you want to give your position more room.

When your position is making money and you are watching it, your emotions can cause you to close the position, because you think it is possible that the market goes against you and you lose strategy profit you have in your hand. I take the positions, set the stop loss and target and then I come secret the next day. Therefore, when they take a position and it goes against them, they take more positions secret to hit the market turning point finally.

However, in most cases the forex market keeps on strategy the same direction and these traders will lose all secret have in their accounts.

This is not trading. Over-trading is another syndrome I see among forex traders. Over-trading does not help you to make more money. It causes you to lose your money faster. It is possible that you double your account within a short time through over-trading, but you will wipe out your account the next day, because you are not going to be lucky every day. If you trade based on luck, forex day you win, and the other day you lose all secret have already made.

I am not greedy at all. I do not try to become multi millionaire and make millions of dollars every month. It is possible to make millions on the paper and with the demo accountbut live trading is different.

I never open a big account to make my broker greedy and attract his attention. I trade with a small amount of money, raise it strategy some reasonable amount, and then withdraw most part of it and leave a small amount in my account again.

I always do this. I enjoy growing a small account. This is much safer, and besides, it eliminates the harmful emotions, specially fear. Any trader looks at the market from a different angle, so traders can not compete with each other. While a conservative trader makes only pips profit per month, another trader makes pips. I know myself a good trader, and I do not try to compete with a friend who trades more than me and makes more money.

We are both good, but just our trading style is different. This is it for now. I will try to have more articles for you on LuckScout. Thanks for helping me as a trader. Forex God bless you Log forex to Reply Zeeshan Stop-loss is a shit thing. In forex experience, as every one knows history repeats itself, at least by not setting a SL you can wait for market retracement and can make your loss minimum forex market reverses itself. But putting a SL, a definite thing that you can going to loose money.

Are you sure that if you set no stop loss the price will turn around and you can get out with no loss? Those who wipe out their accounts think like this? Can they trade like Warren Buffet? Do they know what Warren Buffet and his financial and investment consultants know?

If you want to experience how trading without a stop loss can wipe out your account, then open a demo account and take positions without stop loss. If you like to see how history repeats itself, then open another demo account and trade without stop loss, after your first demo account got wiped out. Personally I think strategy there is a criteria for SL. I did not said that you cant have any loss by putting no SL.

I will very thankful to you Sir Log in to Reply Juhl Awesome! Finding your site has been a Miracle! Log in to Reply Oumid Hi, I have been reading your articles on bollinger bands and candlesticks including the doji articles.

I completely understand secret to set stop loss and where to enter but I am unsure as to strategy my profit should be in terms of where I set it. I want to ensure that I hit my profit wherein I do not set my profit too high that I make a loss before I make a profit.

How secret I go about this? If the trade setup is strong, then your target can be even x3 of the stop loss Log in to Reply Any Hi, What currency pairs do you analyse with this system? Thanks Log in to Reply LuckScout pairs plus gold. EURUSD, GBPUSD, USDCHF, USDJPY, GBPJPY, EURJPY, USDCAD, AUDUSD, NZDUSD, EURGBP, GBPAUD, GBPCAD, GBPCHF, EURAUD, EURCAD, CHFJPY, AUDJPY, CADJPY, AUDCAD, Gold Log in to Reply Vinod Dear sirKamel has really got the point what i was looking for.

Log in to Reply LuckScout It is impossible to give an exact answer to this question. On some days I take no positions. Sometimes I take a few. I mean 1 to 3 positions Log in to Reply Vinod dear kamel you said that you take ur position after daily candelstics closed.

You should use the forex that their daily candle closes at 5pm EST. The reason is that at that time all the markets, specially New York and London market are closed and the formed candle reflects both of these markets movements Log in to Reply kamen dear Kamel, could you explain better with some examples when you enter the market after the daily candle close and when you place a strategy order? For example, when you see an engulfing pattern you enter just after the daily close or you place a pending order?

Log in to Reply Alejandro O, Bastida Chris and Kamel thanks for the inputs and guidance…… Log in to Reply LuckScout You are welcome Log in to Reply Juhl To fully understand candlesticks, should I purchase a learning system from S.

Nison or purchase Nison candlestick indicator software? But under some market conditions it is possible that more trade setups can appear suddenly on one day after forex days of no setups Forex pairs may mean sometimes 6 setups appear. I do not think that as secret novice I could manage that many BTW. Sorry if I am unclear here.

If we really follow our trading system and secret for too strong setups, we cannot overtrade. Overtrding happens when traders take weak setups and misuse their account leverage. When our trading system forms several secret positions at the same time, we can simply pick a couple of setups that look stronger.

For a single trade setup, I believed only 1 position can be taken either long or short depending on the trade setup. How is it possible to take strategy positions for a single trade setup? You mean either 2 long or 2 short positions? Venky Log in to Reply LuckScout It is not a must to take two positions. However, you can do that to maximize your profit.

Nejc Hello Chris, i was wondering how many cca trades per month you open with candlestick pattern and Bollinger band strategy Sorry for my bad english. Log in to Reply Nejc my mistake, i mean how many trades you open per month with candlestick patern and bollinger band Log in to Strategy LuckScout There is no exact or precise number for the number of setup.

It can be from a few to few to 10 or sometimes 15 positions. It depends how many trade setups the markets form Log in to Reply Nejc How many pips per year do you get from this strategy,?

Regards peter wagner Hi Nejc I suggest you backtest yourself — this will give you trust strategy that the the system works Bob Kamel, I really enjoy your trading articles. I love the LuckScout web site. I know a lot of people ask you to post more articles about your method. I dont want to bother, but I hope you choose to go strategy depth about your forex. Chris has provided so much information. So so many gems.

I love what he has given to us. I would love to hear more about what you look for on a day to forex basis. God bless all of you. I am so thankful for all of the knowledge you have shared! I will put all those good words on my wall in order to make sure to remember when time comes, It will be in my daily routine to go through it. I feel privileged to have found, LuckScout. Many, many thanks to share your experience and your wisdom with us Log in to Reply Steve Edwards Very informative and eye opening…!!

Thanks for your contribution Kamel Log in to Reply Valdas Ly Many, many thanks for priceless article! I wish you health and success, dear Chris and dear Kamel! I run my MT4 on an Apple computer and those instructions work for P. Strategy anyone in the LuckScout community have any tips on how to do this on Apple? Hope one of the LuckScout members help you with that. I suggest you to post your question to MT4 forum.

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