My plan for this week is focus on USDCAD , in my opinion i will risk 3% for this setup, how about you?
Please have a look at our idea and share with us what you think.
After a technical analysis, I often wondered if the current price, the probability of going to the forecast is how much? From there I determined the risk of capital that I could accept, and how much would I get if I went right.
Then I set up my orders system.
I often do not analyze long term in forex, I will take profit part by part, and continue every day to find suitable opportunities.
1. Based on my needs that day. If profit is sufficiently demanded in progress, I will close the order. Here every day my goal is 1% on total account.
2. Based on the TP I have set up. If there is a profit, I will simply set the SL equal to the price entered, the remaining I will let TP work it. But initially if i had set RR 1:2 for example, if the price goes 1: 1, eg 1% or 2%, I will lock early.
Conclusion: I take profits according to my demand, enough progress every day.
Share: My monthly goal averages 10-15% of my total account.