Jul 30, 2014 08:27:07 AM EST , we received a Ichimoku 6 time frame Forex Buy email alert on the currency USDSEK. Here is the email alert:
We are going to setup the trade on the 30m time frame since this is consider an “exotic currency”. The Entry will be 6.8697, initial stop of 6.8653, and a preserve mode of 6.8968. This will give us a min reward of 267 pips with a max risk of 43 pips. This is over 6:1 reward/risk ratio i.e 600%+. With the spread it will be less but still above the 3:1 that we require. Here is the chart setup:
If we break the preserve mode value before the trade is triggered, we will cancel the buy order.
EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.