Hello,
I have been trading off and on for a couple of years now (all while making a little profit). Recently I got into trading price action after reading Naked forex (a worth while read).
I try and keep it really basic and only trade from daily / weekly S/R along side a couple of candle confirmations (engulfling/kangaroo tails) on a min of 4hr and Daily charts. I use no indicators.
So far I have logged the last 3 months in demo and I have manged to grow my account just over 5% a month. I risk no more than 2% of my 5k account (£100) and average 60-70 pips a good trade. I would say my win rate is around 70% so far. I trade around 15 FX pairs.
Basically I want to know if I am on the right track. Is 5% a month good to aim for?
Thanks,
Jack
I have been trading off and on for a couple of years now (all while making a little profit). Recently I got into trading price action after reading Naked forex (a worth while read).
I try and keep it really basic and only trade from daily / weekly S/R along side a couple of candle confirmations (engulfling/kangaroo tails) on a min of 4hr and Daily charts. I use no indicators.
So far I have logged the last 3 months in demo and I have manged to grow my account just over 5% a month. I risk no more than 2% of my 5k account (£100) and average 60-70 pips a good trade. I would say my win rate is around 70% so far. I trade around 15 FX pairs.
Basically I want to know if I am on the right track. Is 5% a month good to aim for?
Thanks,
Jack