First of all I would like to thanks Super Mod Toxic, other Mods, Forum Admin and instaforex for bringing this interesting and exciting but real contest. I am happy to be a part of the contest. And my knowledge and latest experiences of contests in this forum help to me take part in the contest which is real one. I hope and think this contest is going to be a great one and wish all the bests to all contestants. I hope all the forum members will be benefited from the contest in their real trading.
Account No. : 5305994
Investor password : Will be sent to Four Moderators.
Server : 188.8.131.52:443 (InstaForex-Europe.com)
Account Balance/Equity : 52$(40$ deposit + 12$ bonus)
Leverage : Variable but in between 1:1000 to 1:50
Open Trades : No
Trading Styles: Scalping, Swing and Binary Option.
Time Frames: Any preferably M5, M15, M30, H1, H4 and D1.
Currency Pairs: Any symbol/instrument that suits my plan and strategy.
This is a real contest of good six week length. Without thinking too much I would better concentrate on my usual trading in normal time. But I want to make sure that I don't get stopped out soon. So my strategy will be very simple because I believe simple is the best.
In this real contest I am not going to use any particular indicator. Rather I will depend on price action and/or naked trading. But certainly I will take help of short term Support-Resistance from candles. I'll try to get few Forex News behind my trade so that I can grab few pips in quick time. Here I am going to try few Binary Option trades as well which is my usual practice too.
Here are the source of my trading signals.
I'll use the link given below for financial news.
You can learn about it by visiting the link. https://forum.mt5.com/showthread.php?...and-Resistance
Naked trading is basically trading solely based on price movements and its performance alone. You buy or sell based on what you see in the price.
Entry and Exit of a trade:
I have some plans for different types of trading. Here are the short description of these.
Depending on the price action and support resistance I'll open my position with initial risk and reward of 2:1. But for short term scalping I might concentrate on small profit closing the trades manually.
I'll put some stop orders in both direction. Sell stop or buy stop orders with profit target of 10-30 pips with risk and reward of 1:1 depending on the news quality and impact. I may close the trade manually for booking profit.
Binary Option Trade:
In this kind of trade I'll strongly depend on price action of a particular instrument/symbol. It is more likely scalping to me with high risk and high reward possibility.
As it is long term contest I must focus on money management. I will expose maximum of 5%-10% of my invest in a single trade with a target of 5% or more profit. In order to give more room for trades I might double the length of SL as if I have opened a new position at earlier SL. Similar things can happen to TP if strong trend is seen.
For option trade I'll use random option value ranging from 1$ to 10$. I can try few higher options if my profit allow me to do it. But I'll make sure it does not exceed 10% of equity.
No matter who get the title of Profitable Trader, I wish all contestant with wishes and happy trading. Let's make this forum more resourceful by our posts and trading.
Final trading statement for our members' learning purpose:
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