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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Set & Forget Price Action Forex Trading Strategies

2012-01-15T04:03:21+00:00
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By in Forex Trading Videos Last updated on | 56 Comments
Note: Trading Course SpecialUntil October 31st, Save 35% Off Nial Fuller's Professional Trading Course, Daily Trade Setups Newsletter, Live Trading Forum & Email Coaching - Click Here.

This is a  Forex Video Tutorial on “Set And Forget Price Action Forex Trading Strategies”  This Video  Explains How To Trade Set and Forget Forex Strategies So you Can Place a Trade, Walk Away From The Computer Screen and Still Have a Life and A Job…The idea behind this style of trading is that the trade will either be stopped out or make a profit. Enjoy!

Video Synopsis – Set & Forget Price Action Forex Trading Strategies

In this video we are discussing the “set and forget” forex trading auto strategy. This means you let the market do its thing; walk away, set your orders and then forget the trade. This is a very simple trading strategy; we use price action signals to alert us to the trading opportunities, we then place a limit or market order to enter, place a stop loss, than place a conditional order to cancel the stop loss if the profit target is hit.

In this video we are looking at a GBPJPY daily candlestick chart and a price action reversal setup off the 147.00 level that alerted us to the trading opportunity in this market. I placed a sell on limit at 146.00, a stop loss just above 147.20, so say a 130 pip stop loss. The set and forget strategy places a conditional order to take profit at a minimum of 2 times risk, so a 260 pip profit target in the case of this setup.

If you sit there and watch the market and watch your charts you will invariably experience an emotional drama and are very likely to end up “meddling” in your trade and thus screwing them up.

This idea of walking away from the market and letting it do its own thing can be one of the best things you can do to improve the bottom line of your trading account. Removing yourself from the market and from looking at your trades is one of the best ways to eliminate emotion from your trading. Use my set and forget price action forex trading strategy to improve your forex trading.

Note: Trading Course SpecialUntil October 31st, Save 35% Off Nial Fuller's Professional Trading Course, Daily Trade Setups Newsletter, Live Trading Forum & Email Coaching - Click Here.

About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. Checkout Nial's Professional Forex Course here.
  1. Mpume July 14, 2017 at 2:53 pm

    Hi
    I find your notes on candlestick chart very easy to understand, yet in the beginning it was very confusing to understand it meaning. Thanks a lot

    Reply
  2. Rahmat H. March 2, 2017 at 5:59 am

    Thanks Nial for this fire and forget style so I can keep my daily life normal. Is the rule RR 1:2 fixed even TP forecast level can be set more…

    Reply
  3. Scott Andrews February 3, 2017 at 12:53 pm

    Really helpful great website too first time checking this out :).

    Reply
  4. paphon August 16, 2015 at 6:23 pm

    good

    Reply
  5. CRISTY July 24, 2015 at 1:44 am

    EXCELLENT BUT STILL LEARNING THANKS

    Reply
  6. rajesh vishwakarma September 4, 2014 at 4:02 pm

    good video ..very effective method to place order Thanks a lot

    Reply
  7. paxy May 10, 2014 at 6:52 am

    This is good stuff you are doing nial. Keep up the good work.

    Reply
  8. abubakar January 19, 2014 at 6:39 am

    this is the most inspiring fx trading place i have been to and will remain here,will soon be a member

    Reply
  9. Muhammad Farooq December 22, 2013 at 4:18 pm

    very good tutorial Thanks Sir,

    Reply
  10. Bob July 20, 2013 at 10:26 am

    Hi Nial,
    I will be definitely giving this a go next week.
    Thanks Nial :)

    Reply
  11. haroonafridi pakistani April 17, 2013 at 8:14 pm

    brother good leeson thanks

    Reply
  12. Leon April 2, 2013 at 5:52 pm

    Thank you so much nial

    Reply
  13. Merryweather March 1, 2013 at 10:25 am

    Thank you for making the VDO.

    Reply
  14. naveen January 27, 2013 at 3:44 pm

    Hi Nial,
    I find it difficult to not interfere with my targets, most times i modify my targets after getting into trades, exiting prematurely. What do you suggest i should do to improve in this?
    If i don’t watch my trades after entering won’t i be loosing opportunity to learn from live price action ?

    Regards

    Reply
  15. hiệp January 27, 2013 at 12:29 am

    thank !
    vgx.vn

    Reply
  16. Agnes January 13, 2013 at 8:13 pm

    Hi Niall,
    thank you very much for publishing your videos

    Reply
  17. Thomas January 7, 2013 at 6:55 pm

    Thanks Nial ! You keep everything simple and easy to understand for others.

    Reply
  18. Anthony July 2, 2012 at 5:00 pm

    Thanks, so simple so usefull

    Reply
  19. Dale Kevin June 8, 2012 at 11:44 am

    Nice and practical system. Thanks for sharing your field of expertise. This is simple and stressed free way of trading!

    Reply
  20. Adejumo June 6, 2012 at 2:00 am

    very educative video. may God be with you always.

    Reply
  21. Mithun Girishan April 5, 2012 at 10:29 pm

    Thank you Nial. Set and Forget strategies are awesome :)

    Reply
  22. nauriz March 19, 2012 at 11:07 am

    130 pips, it s crazy! And takes way toooo much time to get 260.

    Reply
  23. bud December 31, 2011 at 7:25 am

    Hey Nial I enjoy and learn from your course and really love your lessons.

    Reply
  24. Genadij November 14, 2011 at 6:29 am

    thanks,Nial I”m very like you lesson.

    Reply
  25. Mohd Fitri November 2, 2011 at 3:30 am

    thank you nial… the video really help me in trading…
    good explanation..

    trader from malaysia

    Reply
  26. Janine October 20, 2011 at 6:11 pm

    Thanks, Nial. God bless!

    Reply
  27. Larry Hoover October 18, 2011 at 3:16 am

    Nial,

    Me again. Just to let you know that I finished my trading plan. Went more in depth than I had to (9 pages) but it’s jam packed with your ideas and concepts – including Set and Forget. Will be focusing only on the Pin Bar setup until I master it and later the Inside Bar and then the Fakey. Do you like my order of mastering the setups? Thanks – Larry

    Reply
  28. David October 11, 2011 at 3:36 am

    I like the simple, clean approach. Also anything that gets me away from staring at charts. I’ll give this a go. Cheers mate.

    Reply
  29. Jason Stapleton August 25, 2011 at 4:29 am

    Set it, and Forget it! I love it. Well done on the video by the way. Very easy to understand. Great instruction.

    Reply
  30. mohammd July 22, 2011 at 11:12 am

    Nial,

    I like your set and forget way of trading, when you watch the trade too much going on in your head. I trade mainly on the 4 hour time frame using moving averages, support and resistance and going with the trend. i am very interested in learning how to trade price action.

    Thanks…Mohammed

    Reply
  31. Larry H. July 6, 2011 at 10:44 am

    Nial,

    As always — nice and clear and simple. Can’t wait to be joining you and your team later this month. I’m a 72 yr old Senior on a tight fixed income and your July Special is quite an offer and something I will be taking advantage of.

    Until then…and Thanks…Larry

    Reply
  32. Andrew T June 10, 2011 at 7:13 pm

    Nice one Nial,I’ve been confused by too many indicator type systems for a long time now.Not any more!!!

    Reply
  33. nursodik May 22, 2011 at 5:04 am

    amazing….amazing…!!!

    Reply
  34. Jake April 30, 2011 at 6:55 am

    Awesome video as always. Looking forward to being able to sign up for your training course.

    Reply
  35. Luis April 22, 2011 at 11:21 pm

    Dear Neil
    thank you very much for publishing your videos, they are indeed very instructional, effective and simple to understand.

    best wishes

    Reply
  36. samuel March 9, 2011 at 5:18 am

    I must confess that you are doing a really nice job educating people, especially those aspiring to be forex traders. I wish you success in your tradings and I look forward to more from you

    Reply
  37. Kithaka March 8, 2011 at 12:21 am

    You’re an amazing guy, Nial, and I actually got a lot from your post. Mine is however a basic idea of how the forex market works, and I need more than that if I’m to trade. Would you teach me?

    Reply
  38. Asif Ahmed February 1, 2011 at 2:15 am

    It’s a pretty informative post.It’s my first visit.I like very much your way of presentation.Some great information to be absorbed in this post.Thanks a lot for sharing.I have bookmarked this for my friends. Keep blogging.

    Reply
  39. Dammy January 29, 2011 at 2:20 pm

    Good job.Nice and simple.

    Reply
  40. ana January 16, 2011 at 9:44 pm

    Dear Nial,I am a begeiner trader and this video for me is like an encourageing to go on. You make in simple and you keep it simple,great video, thank you.

    Reply
  41. David Rabbin December 18, 2010 at 4:35 am

    A nice exercise in the way to analise the chart actions ie the correct conclusions to be drawn from the the action of the bars. Very unformative

    Reply
  42. evarist asika December 3, 2010 at 1:58 am

    whoa!!Nial this video awesome,it just simplified the art of forex trading,thumbs up Nial.

    Reply
  43. Larry Hoover November 20, 2010 at 5:46 pm

    Nial,
    As usual well done again. I love the simplicity of price action. Related to price action I am looking very closely at Point and Figure charting. This is a price only way of looking at the market with the focus on supply and demand.
    Thanks again for your articles and method of trading.

    Reply
  44. Agnes Alungat November 2, 2010 at 2:28 am

    I haven’t yet started trading but I feel I can’t wait to start already! Thanks Nial and may the good Lord, bless you always.

    Reply
  45. Michael October 31, 2010 at 1:27 am

    Thank you Nial you have really changed the way i look at the market.

    Reply
  46. Kotijett October 13, 2010 at 7:48 am

    thanks Nial… thanks for the article the other day about why traders fail. Given the market conditions the temptation to over trade has been relatively easy… infact too easy… so have been taking profit to reduce greed and risk…oddly enough I actually applied a rule which is “be patient”…as a result over the last few weeks I traded less and reworked my trading plan to keep it simple and made profit… I do use the 10 ema and RSI in my trading plan to keep me in check but otherwise I trade using price action to “set and forget”… and like in the video, I look at my trades at the end of NY session and review my trades for the next day… I first saw this video nearly a year ago and seeing this video again is confirmation to “keep it simple”.

    Reply
  47. BVC October 11, 2010 at 7:34 am

    Thanks again Nial!

    Reply
  48. Beremako September 21, 2010 at 7:29 am

    Nial, you are a blessimg to mankind. Thanks a lot. I followed your simple method today and made some pips.

    Reply
  49. marc September 11, 2010 at 1:49 pm

    amazing videos very detailed

    Reply
  50. ellen eun April 30, 2010 at 11:35 pm

    I enjoy to read your pinbars charts and thank you for your teaching in freindly time and efforts.

    Reply
  51. Simon March 15, 2010 at 6:47 pm

    very good entry point,
    right time and right trend and right action place,
    small cut lost and bigger profit

    Reply
  52. Robert L. Wilkinson March 7, 2010 at 11:04 am

    Nial;

    I enjoyed this video and the simplicity of the concept. I thank you for your efforts.
    The little voice in my head tells me that I want to do this, but shouldn’t because if the trade turns around on me I need to get out. I wouldn’t know if it turned around if I set and forget.

    Reply
  53. BrianS February 7, 2010 at 12:16 am

    Nice going Nial!!!! Thank you teaching in such a freindly and simple manner.

    Reply
  54. GanandoPips February 5, 2010 at 8:08 am

    I use to take pinbars on their 50% too… Nice trade! Thanks Nail

    Reply
  55. tab321 February 4, 2010 at 2:11 pm

    Nial

    Another Great Video. Thanks for keeping us in training through these free video lessons. I always enjoy each presentation that you do.

    Reply
  56. Majid February 4, 2010 at 5:33 am

    Great……

    Reply

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