Set And Forget Forex System

Many people who want to trade Forex look for a set and forget Forex system because they need to be able to fit trading into their busy lives. Not everyone has hours a day sitting in front of the computer waiting for trade setups. Fewer people have the patience to sit in front of the computer for hours a day, even if time permitted.

A Set And Forget Forex System is just like the name suggests. Usually at the same time every day you set up your trade with entry, stop loss and take profit. At this point you are done. By trading this way, you are not going to monitor or modify your orders as the trade progresses. Once the trade is placed, it will either hit your profit target, hit the stop loss or still be running the next day at the trading time.

Most of the set and forget trading systems use pending orders and are called “straddle strategies”. This means you place two pending trades, one buy and one sell, that straddle current market price. The idea is that once price picks a direction, the trade is triggered and goes live.

To use a set and forget Forex system you need to be patient and methodical. You are going to systematically repeat your trading routine every trading day. When using pending orders, it is possible the trades will never be triggered. When you do get into trades, the profit or loss is predictable because you use a set take profit or stop loss. The trick to making this a profitable 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. The trades come out 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 performance results and money management case studies they provide to show the potential profit and loss trading these types of Forex systems.

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