Hi,
I have read through a lot of posts and fundamentals; and have now been trading for a fortnight through a demo account.
It has been a good learning experience and the demo account is in the positive. I plan to continue demo'ing for a lot longer.
I have focused my trading to five core pairs. Entry was based on technical indicators (daily and weekly charts).
On my $50,000 equity I have unrealised profits of ~$1,000 (2%). Great. Now what?
1) Do I top up my existing positions and by doing so increasing my risk, tightening my stops?
2) Do nothing and ride the winners?
3) Look at entering trades on other pairs?
Also, I have been lucky and assuming I continue to generate wins how can I make more money?
I know this is no "get rich quick scheme" and I have only had limited exposure to FX trading.
Does one need significant more capital to make this a full time job? Or does one need to factor in (ac)cumulation (a rather generous assumption)?
I have read through a lot of posts and fundamentals; and have now been trading for a fortnight through a demo account.
It has been a good learning experience and the demo account is in the positive. I plan to continue demo'ing for a lot longer.
I have focused my trading to five core pairs. Entry was based on technical indicators (daily and weekly charts).
On my $50,000 equity I have unrealised profits of ~$1,000 (2%). Great. Now what?
1) Do I top up my existing positions and by doing so increasing my risk, tightening my stops?
2) Do nothing and ride the winners?
3) Look at entering trades on other pairs?
Also, I have been lucky and assuming I continue to generate wins how can I make more money?
I know this is no "get rich quick scheme" and I have only had limited exposure to FX trading.
Does one need significant more capital to make this a full time job? Or does one need to factor in (ac)cumulation (a rather generous assumption)?