I specialize in day trading the Forex market using a combination of technical and fundamental analysis, with a focus on major currency pairs. Over the years, I have developed several strategies to identify short-term price movements, and I trade manually relying solely on my own technical analysis.
My trading system is based on identifying psychological support and resistance levels, and I usually open positions during the European session and occasionally during the American session. I carefully analyze market conditions to determine the number of trades to make each month.
To manage risk, I always use Stop Loss orders to protect each open position. I do not use risky strategies such as Martingale or grid of open positions.
My trading strategy typically generates a monthly profit of around 1-3% with minimal drawdown. Achieving consistent profits requires a combination of technical analysis and risk management techniques, which are key components of my trading approach.
For this trading strategy, one position uses 0.01 lot for every $500. For example, if there are 1,000 USD in this account, then the lot size used to open one position would be 0.02.
Stop Loss ranges from 15 to 60 pips. Max open trades 3.