Once your trading strategy is defined and if it allows (orders placed in the medium-long term) you can already program cascading orders. Define a threshold from which the buy or sell order will be triggered, and the stop and limit when triggered. You will not be too tempted to put the affect in your trading, provided you do not keep your eyes riveted on the screen. Trust what you programmed when your head was cold. This step back is essential if you intend to make money on the forex. You can use the bybit review
Do not look for a miracle method to make money on forex, it does not exist
Many sites promise you wonders, miracle strategies or robots that place winning orders for you. To make money on forex, start by saving your time and money by not giving in to promises that are obviously false.
The most complicated trading strategy is not the best
Better a very simple and well-controlled trading strategy than something very elaborate but you do not understand. It does not exist AN effective strategy, it must be adapted to its trader … All the indicators are not suitable for everyone, and we are not all made to work on the same horizon of time.
Think in terms of probability, remove the affect
Forex trading comes down to a calculation of probabilities and a risk analysis. The basic principle is to find configurations where placing an order offers a high probability of gain with a reduced probability of loss. A common mistake is to place an order and then ask yourself where to place your stop and possibly its limit. But you must determine that before! It is precisely the market that tells us whether to take a position following the levels of stop that are required.
Set your rules in terms of risk and follow them
There is a lot of emphasis on money management, risk management is presented here as a way of not squandering its working capital too quickly and to keep a cool head, to avoid placing an order on a whim. This risk management is very personal, take a moment to define what percentage of your capital you agree to risk on each order and stick to this rule which is now engraved in the marble!
if you work very long term, it may be more interesting to base yourself primarily on fundamental analysis, then possibly to help you graphics over long periods (D1 over 250 periods for example). In this case, you know that you do not have to stick to your screen to follow the graphs. On the other hand, you will be interested in following the economic news closely.