A Very Simple System By Donna Forex For The EURJPY Currency Pair!
Manual Forex Trading Strategy by Donna Forex has been developed for the MetaTrader 4 (MT4) Platform and is a perfect for new traders. Donna Forex is a well respected name in the forex community. She is a professional forex trader who has helped a lot of new traders learn forex trading.
Now, many new forex traders find it difficult to calculate the exact position of the stop loss and the take profit targets when entering into a trade. Method 311 is a simple manual forex trading system that makes it easy for you by calculating the exact stop loss and the take profit positions. Stop loss order is something very important in risk management. You don't need to worry anymore where to put the stop loss with this Method 311 System.
Risk Management is very important for traders. As a forex trader the first thing that you need to do in any trade is risk management. After you have managed the risk in the trade, you can think of take profit. Many inexperienced traders think of profits first and managing risk later. Method 311 System helps you manage the risk in an easy manner.
You just need to enter the level of risk that you are comfortable with in the Method 311 System and it will calculate the lot size that you need to enter into a trade. By default this system uses a low risk setting so that as a new trader you don't take too much risk. However, you can change the default settings.
Now, Method 311 System requires you to enter two trades when the trading signal is generated by it. The system will tell you where to put the stop loss. Stop loss is where the trade will close if it doesn't go well. The system also tells you where to enter the the take profit target. Take profit is how much profit you will make if the trade works as expected.
Finally, Method 311 System requires you to enter a trailing stop. A trailing stop will trail the price action and will immediately take you out of the trade if the price action reverses itself. Trailing stop helps you to lock in the profits once the initial move in the price action has gone in the direction of the trade. Once, you have entered the stop loss orders and the take profit orders plus entered the trailing stops, everything is set for you. You have nothing to do now. The trades will either hit the stop loss or the take profit.
This is a simple system that you can master on your demo account. Now this system has been developed for the EURJPY pair. It trades on the 30 minutes chart. You get trading signals several times a week. If you have been trading forex for a few weeks, you must be knowing the fact that the pair EURJPY is hot as JPY (Japanese Yen) is expected to depreciate in the coming weeks and months. There is expected to be a downtrend in this currency pair.
Donna Forex has a very good reputation in the forex trading community. This is her first forex trading system that she has released. Donna Forex gives you 30 days no question asked money back to try her Method 311 System. What she wants you is to demo trade with her system for one month and if it doesn't give you good results, simple email her youe demo account statement and she will give you the refund. What this means is that she is so confident about her Method 311 working that she wants you to try it on your Demo Account for whole one month. If it doesn't work, simple send her the demo account trading statements and she will give you the refund.