Samuel J. Rae
Samuel J. Rae

A look at some of the winners and Losers over the past Couple of Months

Samuel J. Rae gives us an overview of the ups and downs he has experienced with his trading strategies over the last three months and the steps he takes to maintain a positive risk reward ratio.

First Published: e-Forex Magazine 58 / Traders Workshop / October, 2014

Hello traders. Some of you may well be aware of how I like to trade and the strategy I used to execute my positions in the markets, but for those that aren’t, here’s a quick rundown of my strategy. Simply put, I focus primarily on price action. I like to keep my charts clean (with the exception of 200 or 50 period moving average here and there) and enter trades on a daily timeframe at New York close. All of my positions are based on – and defined by – traditional candlestick charting patterns; primarily, inside day patterns and pin bars. In addition to my price action analysis, I generally form a directional bias based upon a number of fundamental economic factors – more often than not data-driven but also influenced by wider issues such as politics or military tension. Finally, once I enter a trade I never alter its parameters. I determine my risk – reward pre-entry, and by setting and forgetting my trades this enables me to maintain a positive long-term risk reward...continued

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