Set And Forget Foreign Exchange System

Many people who want to trade Forex look for a set and forget Forex system because they don’t have a lot of time to trade the markets. Not everyone has the time to sit in front of the charts looking for trades. Even fewer people have the discipline to sit in front of the computer for hours a day, even if they had the time.

A Set And Forget Foreign Exchange System is exactly how it sounds. Usually you place trades at the same time every day. At this point you are done. With this type of trading strategy you are not going to be taking partial profits, moving your stop to break even or locking in profits by trailing your stop. Once the trade is placed, it will either hit your profit target, hit your stop or you’ll still be in the trade the next day when you open your platform to place new trades.

Most of the set and forget trading systems use pending orders instead of market orders and are called “straddle strategies”. With this form of trading you place two pending trades, one buy and one sell, that straddle where price is at the time of trading. If price breaks in a specific direction, it triggers the trade and gets you into the market.

To use a set and forget Forex system you need to be disciplined. You are going to systematically repeat your trading routine every trading day. Some days your trades will not even be triggered. When they are triggered, the profit or loss is predictable because you use a predetermined take profit or stop loss. The trick to making this a successful way to trade is to just place the trades and forget about them until the next day.

Set and Forget Forex Signals is a Forex signals provider that uses a set and forget system. As we spoke of above, they use pending orders and straddle market price. You can follow their trades by placing the same trades they do at 5:30 PM New York time. If this set and forget way of trading appeals to you, you should check out their site to see the monthly trade results and case studies they provide to show how much you can make trading these types of Forex systems.

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