Set & Forget Price Action Forex Trading Strategies
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.
58 Comments Leave a Comment
thanks nial, very enjoyable
Hi Nial, I just wanted to give a big thanks for your help. I’ve learned so much from your articles and I”be just started watching your Videos.
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
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…
Really helpful great website too first time checking this out :).
EXCELLENT BUT STILL LEARNING THANKS
good video ..very effective method to place order Thanks a lot
This is good stuff you are doing nial. Keep up the good work.
this is the most inspiring fx trading place i have been to and will remain here,will soon be a member
very good tutorial Thanks Sir,
I will be definitely giving this a go next week.
Thanks Nial :)
brother good leeson thanks
Thank you so much nial
Thank you for making the VDO.
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 ?
thank you very much for publishing your videos
Thanks Nial ! You keep everything simple and easy to understand for others.
Thanks, so simple so usefull
Nice and practical system. Thanks for sharing your field of expertise. This is simple and stressed free way of trading!
very educative video. may God be with you always.
Thank you Nial. Set and Forget strategies are awesome :)
130 pips, it s crazy! And takes way toooo much time to get 260.
Hey Nial I enjoy and learn from your course and really love your lessons.
thanks,Nial I”m very like you lesson.
thank you nial… the video really help me in trading…
trader from malaysia
Thanks, Nial. God bless!
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
I like the simple, clean approach. Also anything that gets me away from staring at charts. I’ll give this a go. Cheers mate.
Set it, and Forget it! I love it. Well done on the video by the way. Very easy to understand. Great instruction.
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.
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
Nice one Nial,I’ve been confused by too many indicator type systems for a long time now.Not any more!!!
Awesome video as always. Looking forward to being able to sign up for your training course.
thank you very much for publishing your videos, they are indeed very instructional, effective and simple to understand.
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
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?
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.
Good job.Nice and simple.
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.
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
whoa!!Nial this video awesome,it just simplified the art of forex trading,thumbs up 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.
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.
Thank you Nial you have really changed the way i look at the market.
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”.
Thanks again Nial!
Nial, you are a blessimg to mankind. Thanks a lot. I followed your simple method today and made some pips.
amazing videos very detailed
I enjoy to read your pinbars charts and thank you for your teaching in freindly time and efforts.
very good entry point,
right time and right trend and right action place,
small cut lost and bigger profit
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.
Nice going Nial!!!! Thank you teaching in such a freindly and simple manner.
I use to take pinbars on their 50% too… Nice trade! Thanks Nail
Another Great Video. Thanks for keeping us in training through these free video lessons. I always enjoy each presentation that you do.