I am a swing trader. I use fundermental information too but final decision is taken based on my technical analysis.
My Strategy is not aggressive but it is well balanced. My primary objective is to minimize risk and maximize gains.
My Trading Hours: 23:00 EST to 14.00 EST (Summer Time) (Deduct by 01 Hour for Winter Time)
Average No of Trades Per Weak: 1 - 3 Trades
Average Trading days of a Lot : 1 - 3 Days
Stop Loss Limits : 50 - 100 Pips Mostly
Maximum $ Needed to Trade a Lot :$1500 ($10,000 and 100:1 Mini account. Adjust proportionately if you trade different margin or lot size)
Minimum $ Needed to Trade a Lot: $1000
Maximum Loss % on investment in a Trade : 10%
Average Return Per Week:50 Pips per lot (If 03 Lots traded, 150 Pips)
No.of Lots Traded :03 lots (You can trade any number of lots,if you have enough funds and you wish to take extra risk and desire to make big money. E.g: If you have
$15 000, then you can trade 10 mini lots without taking any additional risk)
Attention: Please follow my Risk management strategy. In this website the website owner uses different method to calculate maximum drawdown for full amount.
Example: As per my strategy, Say You have $4500 at the beginning of the month.
and entering 03 lots every time.
You made loss in your 1st trade, so total loss will be $300. that is 6.7% in your investment.now you have $4200 in your account.
If you make loss again. then your loss % on investment is (300/4200*100)7.1%
Now you have $3900 in your account.
so on you can have maximum 05 consecutive losses till your fund level reaches $3000.
Once It is at minimum level then you have to either invest $1500 additional fund or restrict the lots to 02. i have not faced that situation yet in my 05 years trading profession. so don't worry.
It is just an example to explain you how you can trade without worrying about margin calls.
But the website owner uses different method to calculate maximum drawdown on full amount. it may give bad figure sometime when we have couple of negative trades. please ignore it. it wont make any sense. You have to follow my money management strategy.
I advise you that, you must always maintain $1500 per lot (If Mini A/C) at the beginning of every month.
At the end of month, you have 02 choices:
1)Withdrawing the excess funds from your account.
E.g: You are always trading 03 lots. so you need to carry forward $4500 to next month. so you can withdraw any additional funds from your trading account.
Say your trading a/c have balance of $6000 at the end of the month then you can withdraw $1500.
2)If you dont need to withdraw the fund then you can keep it in your account and trade additional lot/lots.
In the previous example now you can trade 04 lots.
It is your choice.BUT REMEMBER ALWAYS MAINTAIN $1500 PER LOT AT THE BEGINNING OF EVERY MONTH.
I divide my targets into 03 groups
1st target group -01 lot if you trade 03 lots or 50% of the lots if you trade more than 03 lots.(e.g: If you trade 08 lots, then 1st target will be set to 04 lots)
2nd target group-next 01 lot or next 25% of the lots.
3rd target group is final 01 lot/balance 25% of the lots.
1st and 2nd target prices will be given along with the order signal. but 3rd target is kept open. i will close it manually.
Sometimes i have to close 1st and 2nd target order manually when the target is not achieved or trend reversed. so you have to close when i close.
I will send single lot oder always. because this platform not allowing to enter multiple targets for a single trade. so i will send 03 separate orders but actually it is one trade.
Mostly i will send you pending orders but sometimes i may send market orders.and stop loss and target will be mentioned with that order. your entry price should be within 10 pips from my entry price but stop loss price and targets must be same.
Sometimes, I have to change my original target prices,if i trade multiple currency pairs simultaneously. because i set the higher target prices to best performing pairs. so when market conditions change i will change my target prices. so you have to follow my updates.
Once the current trade reached a particular safe region then i will move up my stop loss level to entry price level. then there are no risk in that trade. so you have to follow my stop loss updates.
I will send you messages when it is necessary. you can also contact me via contact center if you need any assistance.