Set And Forget Forex Trading is a very simple way to participate in the Forex markets profitably. But unfortunately, a lot of traders don’t see the true value of set and forget style trading and focus on more complex, time consuming forms of trading. The difficult road they choose often leads to frustration, loss and the eventual abandonment of Forex trading all together.
Don’t they know there is a simpler, less stressful and less time consuming way to profitable Forex trading?
As the name suggests, “set and forget Forex trading” is a style of trading where you set up your trade, and then forget about it. You are not sitting in front of the chart watching the trade develop and making important decisions while battling the emotions of fear and greed. In most cases, set and forget style trading is the ONLY form of trading accessible for the average trader… and the only trading style that can be traded consistently.
Characteristics Of “Set And Forget Forex Trading”
Let’s look at some of the characteristics that make set and forget Forex trading a fantastic way of participating in the Forex market…
Higher Time Frames: While set and forget Forex trading can be applied to any time frame, we like to use this type of trading on the higher time frames. Specifically, we like to trade the Daily time frame this way.
Trading At The Same Time Every Day: Since we trade the set and forget style on the Daily time frame, we only have to make trading decisions ONCE a day. Trade entry, management or exit is done at the same time. Basically, this is a true set and forget style, where you take action ONCE a day, and then forget about the trade until the next day at the same time.
Rule Based Entry: When trading the set and forget style, you want to use a trading strategy that is easy to understand. When you look at the charts, you want to know if there is an entry or not. No guesswork.
Rule Based Trade Management: When you look at the charts you want to know if there is an action to take. If you are in a trade, do you need to move the stop loss to breakeven, or lock in profits? You’ll want to be able to answer this question based on rules… and not guesswork.
Rule Based Exits: Just like entries and trade management, you’ll want clear cut rules as to when to exit the trade. Is it time to take profit? You’ll want clear rules to tell you when to exit the trade and take profit, or cut a loss short. Exiting trades is one of the most difficult parts of Forex trading, and often means the difference between success and failure.
As you can see, there are a lot of trading decisions that become easier when you are trading the set and forget style off the Daily time frame. Since you are looking at the charts and making important decisions only once a day, a lot of the emotion of trading is eliminated. Instead of making those decisions on the fly on a fast paced lower time frame, the set and forget trader can eliminate emotions and base trading decisions on RULES… not emotions.
Is Set And Forget Forex Trading Profitable?
Since a lot of traders think they need to “do battle” with the market on the lower time frames, they fail to realize set and forget Forex trading can be very profitable. When you take into account the lower levels of stress and time commitment, I would argue that set and forget trading is the most profitable form of trading.
In the Set And Forget Forex Signals Case Study, you can see what it is like to trade a set and forget style. But one thing I want to bring your attention to. Towards the end of the case study, I break down what it was like to trade the Set And Forget Forex Strategy in 2015 as hourly wages. (This really shows how this style of trading is “worth the effort”).
- Imagine making $223.00 an HOUR!
- Imagine making $1,115.00 an HOUR!
- Imagine making $2,230.00 an HOUR!
These are possible compensation numbers for the small effort necessary to trade the set and forget way.
To find out more, download the full Set And Forget Forex Signals Case Study…
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Some of you reading this might still be saying, “A style or trading that requires so little time, effort and stress cannot possibly be profitable”. And that is a shame, because most traders who take the road of large time commitment, lots of effort and high stress eventually fail. It might seem ironic… but simplifying your trading might be the only way to succeed for the average trader!
If you have not tried the set and forget style of trading the Forex market, you are in for a treat. To help you understand just how easy and potentially profitable this style of trading can be, we have opened up our 14 Day FREE Trial.
Don’t take my word for the power of Set And Forget Forex Trading… try it our for yourself.