No Stress Trading | Foreign Exchange EA Download- MT4/MT5 Resources
If you are a nervous trader like me, there is no system in the world that will work for you. However, I have been working on a system that others have tried and it seems to work.
First, if you are a nervous trader, do not place large trades. Forget about sitting in front of a screen all day. Forget the news. Forget moving averages. What you need to focus on are long-term trends. Think about the fundamentals.
For example, we see that GBP/USD is very bullish and may always remain so. If you look at the 2-5 year chart, you'll see what I'm talking about. That being said, why not just split your investment into pieces and go long (100 pips or more) on dips. If it falls again, buy more, and so on. You should even plan to trade down 400-500 points from your initial entry point. If you significantly reduce your intake, this loss should still allow you to sleep at night.
So when will it be sold? I sell when the price of my most recent purchase goes up 50-100. You won't get rich doing this. However, once you find that it works for you and you gain trust in the system, you can start thinking about larger numbers. I tried paper trading with larger volumes, but I still had to sit in front of a computer all day. Very tired and stressed. There are always losses and of course there are some wins. But again, as a nervous, emotional trader, the losses really affected me.
I've been using this system for about six months and have yet to record a loss. Of course, I had to wait a while until it turned positive about three weeks or so, but I was able to hold on because the amounts weren't huge. They did increase as I bought more and more, but that's why you need to trade in very small amounts until you get a feel for it. I just recently added more money to my account and it feels great. I'm increasing my investment amount (not the "trading" amount) and feel very relaxed about it. As you know, this is one of the biggest problems: fear!
Now, a lack of fear doesn't make me do stupid things. I can't tell you how many times, even though I knew (or at least had a good feeling) that the pound was going to rise again, I still suffered losses because I couldn't bear to be in a negative position and sit there and have to watch for hours or even minutes. Let's face it, the pound is very volatile and it's easy to get stopped at around 20 pips. So, I gave up trying to be precise. I still buy at support and sell at resistance, but these areas are usually the major support and resistance areas. If you're a beginner and can't select these areas, don't do it. Just wait until the end of the trading day and only buy if it drops 100 points or more. Buy low and sell high! It's very simple.
bottom line
First, if you are a nervous trader, do not place large trades. Forget about sitting in front of a screen all day. Forget the news. Forget moving averages. What you need to focus on are long-term trends. Think about the fundamentals.
For example, we see that GBP/USD is very bullish and may always remain so. If you look at the 2-5 year chart, you'll see what I'm talking about. That being said, why not just split your investment into pieces and go long (100 pips or more) on dips. If it falls again, buy more, and so on. You should even plan to trade down 400-500 points from your initial entry point. If you significantly reduce your intake, this loss should still allow you to sleep at night.
So when will it be sold? I sell when the price of my most recent purchase goes up 50-100. You won't get rich doing this. However, once you find that it works for you and you gain trust in the system, you can start thinking about larger numbers. I tried paper trading with larger volumes, but I still had to sit in front of a computer all day. Very tired and stressed. There are always losses and of course there are some wins. But again, as a nervous, emotional trader, the losses really affected me.
I've been using this system for about six months and have yet to record a loss. Of course, I had to wait a while until it turned positive about three weeks or so, but I was able to hold on because the amounts weren't huge. They did increase as I bought more and more, but that's why you need to trade in very small amounts until you get a feel for it. I just recently added more money to my account and it feels great. I'm increasing my investment amount (not the "trading" amount) and feel very relaxed about it. As you know, this is one of the biggest problems: fear!
Now, a lack of fear doesn't make me do stupid things. I can't tell you how many times, even though I knew (or at least had a good feeling) that the pound was going to rise again, I still suffered losses because I couldn't bear to be in a negative position and sit there and have to watch for hours or even minutes. Let's face it, the pound is very volatile and it's easy to get stopped at around 20 pips. So, I gave up trying to be precise. I still buy at support and sell at resistance, but these areas are usually the major support and resistance areas. If you're a beginner and can't select these areas, don't do it. Just wait until the end of the trading day and only buy if it drops 100 points or more. Buy low and sell high! It's very simple.
bottom line
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