Cheers Andy -
I develop my watch list of consistently trending forex pairs each weekend using dailies and weeklies. I may drop a target from the list based on what happens during the week but no new targets added mid-week. I enter new trades after the London Close and simultaneously set stop-loss and profit target. If trade moves to break-even, I look to pyramid it at same size and risk as first trade as soon as a decent opportunity presents, again setting stops and targets. In theory, I will continue pyramiding once I'm riding a nice trend, though in practice pyramiding is a new addition to my trading plan so the opportunity hasn't arisen yet.
I have recently added FTSE100 shares to the range of possible targets, though at half the forex position size as I'm not happy yet they are as predictable.
I don't do anything during the session except trail my stop and push out my target as price moves in my direction. I have a part-time job but trading has made me more money than this work has and I'm considering resigning in order to develop my vocation as a hedonist.
I develop my watch list of consistently trending forex pairs each weekend using dailies and weeklies. I may drop a target from the list based on what happens during the week but no new targets added mid-week. I enter new trades after the London Close and simultaneously set stop-loss and profit target. If trade moves to break-even, I look to pyramid it at same size and risk as first trade as soon as a decent opportunity presents, again setting stops and targets. In theory, I will continue pyramiding once I'm riding a nice trend, though in practice pyramiding is a new addition to my trading plan so the opportunity hasn't arisen yet.
I have recently added FTSE100 shares to the range of possible targets, though at half the forex position size as I'm not happy yet they are as predictable.
I don't do anything during the session except trail my stop and push out my target as price moves in my direction. I have a part-time job but trading has made me more money than this work has and I'm considering resigning in order to develop my vocation as a hedonist.
