My strategy with TradingAdvisor.app

 

My strategy with TradingAdvisor.app

After years of experiences, losses, failures, books, and of course profits, I simplified everything I learned and made use of my expertise as a software engineer and data scientist at https://www.tradingadvisor.app If you want to know more about the reasons and how it works, I have an article where I talk about it 

  1. When I have time (I have other projects), I go to https://www.tradingadvisor.app/ and check which signals are live (Note: I only consider those with status BUY or SELL, those with HOLD is at your own risk if want to enter late)


  1. In this case, a currency has a buy signal (USD/SEK) so I proceed to check if it has any current or future news that may affect its volatility


According to investing.com there is nothing for the day, the news comes from the previous day, therefore I make the decision to trade this instrument.

  1. After deciding what to trade, the most important step is risk control, particularly I have this simple rule:

    The stop loss cannot represent more than 10% of my capital.

    That number will depend on each person, it is the one I use and it works for me because it is the risk I am willing to expose myself to. With the maximum stop loss established, now it remains to calculate the lot to operate.

  2. Operate and wait for results:



Keep in mind what Take Profit 1 and Take Profit 2 mean:

  • I use take profit 1 as the first level to reach, here I can make two decisions:
  1. Establish a trailing stop loss: Recommended to get the maximum profit.
  2. Close the operation: Recommended for safer profits.
  • I use take profit 2 as a take profit only if, I have decided to use trailing stop loss on taking profit 1, otherwise I don't use it.

As you can see, this is a trade on February 18, 2022 where I earned 400+ pips

Link to tradingview

https://www.tradingview.com/chart/USDSEK/GkeYE3iN-USD-SEK-republished/

Comments

Post a Comment

Popular posts from this blog

What is arbitrage in trading?

Image
Arbitrage in Trading: What is it and How Does it Work? What is arbitrage in trading?  What are the benefits of arbitrage?  What are the risks of arbitrage?  What are the types of arbitrage?  What is arbitrage in trading?      In its simplest form, arbitrage is the act of buying a security in one market and immediately selling it in another market at a higher price. This can be done by taking advantage of price discrepancies between markets, or by exploiting the difference in the prices of related securities. Arbitrage is a high-risk investment strategy, as it can be difficult to find securities with significant price discrepancies. In addition, there is always the risk that the security being arbitraged will move in the opposite direction of the trade, resulting in a loss. Despite the risks, arbitrage can be a very profitable investment strategy, as it allows investors to exploit market inefficiencies. What are the benefits of arbitrage? ...
Read more

How to earn extra money in trading in a very easy and efficient way.

Image
  Photo by Austin Distel on  Unsplash TL;DR All the strategies listed here are automated at https://www.tradingadvisor.app Free!!! I also recommend reading the full article to understand how it works before making the decision to use the tool. Do you want to make money by trading? Well, who doesn’t? It is a technology that has allowed us to perform a large number of activities that were previously available to a very small audience, and in this appears an activity that increasingly pursues more and more: making money by trading. Knowing how to trade will open the door to financial freedom that you will never want to leave. Trading has become a very profitable tool for all those who want to manage their finances and are looking for options to invest their savings. Therefore, here you will find information about it and a simple (and almost automated) strategy that will help you make money at it. ¿What is trade? According to Investopedia “Trade is a basic economic co...
Read more