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Forex Monthly Trading Thread and setup ideas, page-2686

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The_Crack

27 Posts.

20/11/17

18:39

Post #: 28960784
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Originally posted by RickM ↑

Well it’s stopped the action for present, but I feel not for long on the EURUSD. I had planned my current trades since October and will probably hold on till trades invalid on the Daily.

I have gone in using a grid formation with sells every 15 pips distance with take profit on the next monthly line and stop loss set for break even. I’m throwing the kitchen sink at this move and currently have 11 sell trades in a basket. My idea is to build a basket of trades with small to lot sizes to bring total basket size equal to a very large lot size trade but with almost no risk. If price reaches my goal, I will have a total basket of around 60 trades with no risk, other than the profits I may give back to the market. Sure there is a cost of transaction to trade like this but I am just testing a new EA in the live market rather than demo. Total current pip win was 450 earlier. Let’s see if the market takes it all back or not.

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i'm new to forex trading, so forigve me if this is a silly question.
But how do you eliminate risk completely by building a small basket? The Break even stop loss strategy only works if price moves in your favour initally?
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