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Hi all,
I am Neeraj and provide trading signals under name Safe. I am based out of India and have been trading since 2008 (Forex from 2011). Purpose of this thread is to let my subscribers know the basics of my trades and reason why I took them. I am sure exchanging views around here will help all of us in improving our trade perspective. I will begin with some basic info about my trading style, money management and then will go on to some recent trades, beyond which I will try to post daily with basis of my trades-
Myfxbook link- http://www.myfxbook.com/portfolio/safe/812751
Simpletrader link- https://www.simpletrader.net/signal/1580/signal.html
Money Management- At the end of the day it's the most important thing in trading, yes even important than strategy. You can't cheat maths in this game and sooner or later it will catch up on you if you are not following it properly.
There are fund transfer restrictions for forex trading from India and you can only use indirect fund transfer mode, not the primary but one of the reason I started with a $700 account- But make no mistake I treat my account as a Million $ one and follow my money management judiciously.
For majority of my trades risk is less than 1% and I am maintaining account DD below 5% (Win rate is around 70%). But this does not make me a conservative and very low return trader as I aim for 8-10% return per month. Yes there could be some months with higher/lower return but you all know there is nothing certain in Forex just one- If you know how to survive you will make money in long term. That's what I try to emulate in my trading.
I follow risk per trade between 0.5% to 3%, primarily based on trade and mental set up. Market situations are changing as market makers devise new ways to fool retail traders. It's obvious that once we loose we try to recover that ASAP and in turn loose more- what is required is slight adjustment in your trading style, my way is to risk less until you start winning again and then get back to your normal risk mode. This gives me time to adjust and regain confidence.
I trade price action with Pin bar and Inside bar being my favourite. I trade all the major/minor pairs, both intra-day and inter-day. Majority of my intra-day trades comes with a tight SL with at times positions closed before SL. Risk to reward is greater than 1:1 where I close partial position at 1.5 reward and moving the SL to BE. Inter-day trades are adjusted as per market conditions- but lot sizes are quiet low not giving me or the subscriber sleepless nights
.
No Martingale, No Hedging, No Grid, No Averaging. If market has proved me wrong I don't wait endlessly for price to return back. Yes you might find price retracing back after i have closed the trade in loss- but my concern here is "What if it does not?" You are 10-20% down on a single trade and have lost all your composure. If you are not targeting 10-20% per trade you are not following proper MM by letting positions run in loss to the tune of 10-20%.
I am sorry for such a long starting post but will make sure future posts are crisp and to the point
. Will continue to post my trades and logic behind them.
Please feel free to revert back with your queries/suggestions.
Tc,
Neeraj
I am Neeraj and provide trading signals under name Safe. I am based out of India and have been trading since 2008 (Forex from 2011). Purpose of this thread is to let my subscribers know the basics of my trades and reason why I took them. I am sure exchanging views around here will help all of us in improving our trade perspective. I will begin with some basic info about my trading style, money management and then will go on to some recent trades, beyond which I will try to post daily with basis of my trades-
Myfxbook link- http://www.myfxbook.com/portfolio/safe/812751
Simpletrader link- https://www.simpletrader.net/signal/1580/signal.html
Money Management- At the end of the day it's the most important thing in trading, yes even important than strategy. You can't cheat maths in this game and sooner or later it will catch up on you if you are not following it properly.
There are fund transfer restrictions for forex trading from India and you can only use indirect fund transfer mode, not the primary but one of the reason I started with a $700 account- But make no mistake I treat my account as a Million $ one and follow my money management judiciously.
For majority of my trades risk is less than 1% and I am maintaining account DD below 5% (Win rate is around 70%). But this does not make me a conservative and very low return trader as I aim for 8-10% return per month. Yes there could be some months with higher/lower return but you all know there is nothing certain in Forex just one- If you know how to survive you will make money in long term. That's what I try to emulate in my trading.
I follow risk per trade between 0.5% to 3%, primarily based on trade and mental set up. Market situations are changing as market makers devise new ways to fool retail traders. It's obvious that once we loose we try to recover that ASAP and in turn loose more- what is required is slight adjustment in your trading style, my way is to risk less until you start winning again and then get back to your normal risk mode. This gives me time to adjust and regain confidence.
I trade price action with Pin bar and Inside bar being my favourite. I trade all the major/minor pairs, both intra-day and inter-day. Majority of my intra-day trades comes with a tight SL with at times positions closed before SL. Risk to reward is greater than 1:1 where I close partial position at 1.5 reward and moving the SL to BE. Inter-day trades are adjusted as per market conditions- but lot sizes are quiet low not giving me or the subscriber sleepless nights
.No Martingale, No Hedging, No Grid, No Averaging. If market has proved me wrong I don't wait endlessly for price to return back. Yes you might find price retracing back after i have closed the trade in loss- but my concern here is "What if it does not?" You are 10-20% down on a single trade and have lost all your composure. If you are not targeting 10-20% per trade you are not following proper MM by letting positions run in loss to the tune of 10-20%.
I am sorry for such a long starting post but will make sure future posts are crisp and to the point
. Will continue to post my trades and logic behind them. Please feel free to revert back with your queries/suggestions.
Tc,
Neeraj
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