Welcome on board! I'll be engaging in trading using a price action strategy, with a primary focus on observing changes in Heiken Ashi candle colors. During trending markets, I'll be closely monitoring 15-minute, 1-hour, and 4-hour charts. In the case of ranging markets, I'll shift my focus to 5-minute and 15-minute charts. Feel free to join me on this exciting journey towards success in the unpredictable world of trading!
Additionally, during news events, I will predominantly follow the 5-minute chart to mitigate risks. I've set my leverage at 1:1, so there's no need to worry about account wipeouts. Since I'll mainly be trading the Eur/Usd pair, sometimes some other major currency pairs, the maximum daily change is capped at 2%, ensuring that losses within a day won't exceed that limit. Given that excessive leverage often leads to account wipeouts, I consider controlling leverage as a key factor for success in trading.
Additionally, during news events, I will predominantly follow the 5-minute chart to mitigate risks. I've set my leverage at 1:1, so there's no need to worry about account wipeouts. Since I'll mainly be trading the Eur/Usd pair, sometimes some other major currency pairs, the maximum daily change is capped at 2%, ensuring that losses within a day won't exceed that limit. Given that excessive leverage often leads to account wipeouts, I consider controlling leverage as a key factor for success in trading.