There are so many choices its a challenge to find the right approach.
1. Do I trade only 1 pair but very very aggressively?
2. If so would I choose a high volatility pair?
3. Do I trade only 1 pair but very very modestly?
4. If I trade it very modestly on a cent account how long is it going to take to double the account?
5. Perhaps a long time but surely slow and steady wins the race .... doesn't it?
6. Do I trade multiple pairs?
I could go on and on with an infinite (almost) number of questions.
Ultimately its the traders choice to be very conservative or to be highly aggressive or somewhere in between.
For me personally being under the spot light so to speak with a live account linked to a TE + myfxbook you might think that it would make better sense for me to wind the lot sizes right down and trade only 1 pair per day during the Asian session and simply close out the trades at the end of the ATW session (FF Open) and call it a day.
Yes I could play it that way but the daily gain would be very very small and quite painful for not only me but also other traders to watch.
So what I would prefer to do is to find some middle ground ... not too tame and not massively aggressive.
Lets call it moderately aggressive cycle trading.
I like the concept of attaining a certain daily% gain provided its not creating too many issues since I need to see the target eventually being hit.
The Cent Account though brings a whole new domain so it does need some thinking.
Unfortunately once the end of the week comes I'll be into the trading live but probably just start off quite tamely if it happens to be a Friday.
Then attempt to analyze the account and make any changes on the fly.
Should be quite a journey.
Perhaps if I take the moderate aggressive style another trader could take the conservative approach.
Just because you trade conservatively does not mean you need to trade small 0.01 or 0.1 cent lots you might like to step it up a little.
ps. I will not be holding my breathe for a wiling trader to participate since I have seen no-one link an account to a TE and trade the QAM to this day.
pps. I do hope things will change so if any trader(s) are keen please post away.
Masterrmind............
1. Do I trade only 1 pair but very very aggressively?
2. If so would I choose a high volatility pair?
3. Do I trade only 1 pair but very very modestly?
4. If I trade it very modestly on a cent account how long is it going to take to double the account?
5. Perhaps a long time but surely slow and steady wins the race .... doesn't it?
6. Do I trade multiple pairs?
I could go on and on with an infinite (almost) number of questions.
Ultimately its the traders choice to be very conservative or to be highly aggressive or somewhere in between.
For me personally being under the spot light so to speak with a live account linked to a TE + myfxbook you might think that it would make better sense for me to wind the lot sizes right down and trade only 1 pair per day during the Asian session and simply close out the trades at the end of the ATW session (FF Open) and call it a day.
Yes I could play it that way but the daily gain would be very very small and quite painful for not only me but also other traders to watch.
So what I would prefer to do is to find some middle ground ... not too tame and not massively aggressive.
Lets call it moderately aggressive cycle trading.
I like the concept of attaining a certain daily% gain provided its not creating too many issues since I need to see the target eventually being hit.
The Cent Account though brings a whole new domain so it does need some thinking.
Unfortunately once the end of the week comes I'll be into the trading live but probably just start off quite tamely if it happens to be a Friday.
Then attempt to analyze the account and make any changes on the fly.
Should be quite a journey.
Perhaps if I take the moderate aggressive style another trader could take the conservative approach.
Just because you trade conservatively does not mean you need to trade small 0.01 or 0.1 cent lots you might like to step it up a little.
ps. I will not be holding my breathe for a wiling trader to participate since I have seen no-one link an account to a TE and trade the QAM to this day.
pps. I do hope things will change so if any trader(s) are keen please post away.
Masterrmind............
Master your Mind then Master your Trades