Set & Forget Forex Signals

Many people looking to make money in the Forex market or make a living in Forex signal copying 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. Even fewer people have the discipline to sit in front of the computer for hours a day, even if time permitted.

A Set And Forget Foreign Exchange Trading System is exactly how it sounds. 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 your stop or you’ll still be in the trade the next day when you open your platform to place new trades.

Most of the set & forget Forget Forex signals providers use pending orders instead of market orders and are called “straddle strategies”. With this form of trading you place two pending trades, one buy and one sell, that straddle where price is at the time of trading. If price breaks in a specific direction, it triggers the trade and gets you into the market.

To use a set & forget Forex system you need to be disciplined. You need to systematically do the same thing over and over again each 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 predetermined take profit or stop loss. The trick to making this a successful way to trade is to just place the trades and get on with your lives.

AndyW Forex Signals is a Forex signals provider that uses a 50 pips a day forex strategy. If this set and forget way of trading appeals to you, you should check out their site to see the monthly trade results and risk management case studies they provide to show the potential profit and loss trading these types of Forex systems.