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Tools to Change Your Trading Life
This week no words of wisdom. No ruminations on the foibles of human nature and the art of trading. This week I would just like share with you two very simple tools that could very well change your trading life. They are nothing more than an MT4 BUY script and an MT4 SELL scripts that I picked in public domain and modified to my spec. They allow you enter a market buy or a market sell in a flick of an instant. But they also do three very important things.
- They always use a default size
- They always have a stop
- They always have a target
Why is that so valuable? Because 99% of retail forex failures come from using the wrong size and never adding a stop to the position. That almost always devolves into the add-trades-until-I-get -lucky-and-get-out-at-breakeven cycle which in actually always resolves into I-blew-my-account-to-a-margin-call reality.
These two simple tools will stop that from happening.
The defaults in the version here use the smallest size possible and a take profit of 10 pips and stop of -25 pips but the in the video below I show you how to adjust that to your liking.
If you want the dropbox link, just email us at [email protected] and say SCRIPT in the subject heading.