/biz/ - Business & Finance

>>55416275
I'm going to shill Maverick Trading / Currencies because it's the only one I am aware of. I watch No Nonsense Forex on YT and he seems to have a competent approach to the markets. Maverick doesn't have daily goals either, like a lot of prop firms do (eg you have to earn X% a day or else you get let go at the end of the month). At the very least, I know you need to have a trading plan that you follow

>>55416282
When a trend is established (price crosses and closes past the baseline and other indicators agree), I set a TP at 1.0x ATR and SL at 1.5x ATR. When the TP is hit, I sell half the position and move the SL to just above break even. You'll have a few small wins that negate small losses, but eventually you'll hit a trend that gets you 8, 10, 20% at a time.
The important thing is to also manage your position sizes; you don't ever want to lose more than 2% of your account on a bad trade. ATR helps manage this. Look at picrel, it's how you would position size on SPY, for example.