Hi Everyone! I'm here, like the most of the others, to post my journal. I use a personal system that I cooked up while using a demo account.
Back Story: I'm not new to forex, I have an uncle who lives off of Forex. He taught me most of the basics and I've searched online, thank you babypips and James16, for other information. So after that I made a demo account and tried multiple indicators, timeframe, etc and found my system.
His system: (If your curious)
He basically moves back and forth between Korea and USA with a million dollars while taking advantage of the value difference.
My system:
Timeframe 1 hour+ on any pairs
I use 4 indicators, the 100 Simple MA, 2 Smoothed MA, MACD 11,12,11, and the Murrey Math Lines.
Rules:
1. Wait for the MACD to cross 0
2. Wait for the Ma's to cross
3. Enter the trade
4. Use Fib and Murrey Math to determine s/l and t/p
5. leave it and look for another trade
Very simple trading strategy. I find that I can't handle the noise in lower time frames. REALLY ANNOYING. So I moved to 1 hour and it feels very comfortable.
GOALS: I'm planning to start off with $1000.00 and them want to move it up one by one. I LOVE the fact that my money (if done correctly) will grow exponentially. Really love that concept.
I'm only planning to trade 1 lot for every 1000 dollars I have. Not too sure if thats dangerous, but worked for me in the demo. Of course I'm going to take stats on my win rate in order to maybe increase/decrease lot size.
So lets begin!
Back Story: I'm not new to forex, I have an uncle who lives off of Forex. He taught me most of the basics and I've searched online, thank you babypips and James16, for other information. So after that I made a demo account and tried multiple indicators, timeframe, etc and found my system.
His system: (If your curious)
He basically moves back and forth between Korea and USA with a million dollars while taking advantage of the value difference.
My system:
Timeframe 1 hour+ on any pairs
I use 4 indicators, the 100 Simple MA, 2 Smoothed MA, MACD 11,12,11, and the Murrey Math Lines.
Rules:
1. Wait for the MACD to cross 0
2. Wait for the Ma's to cross
3. Enter the trade
4. Use Fib and Murrey Math to determine s/l and t/p
5. leave it and look for another trade
Very simple trading strategy. I find that I can't handle the noise in lower time frames. REALLY ANNOYING. So I moved to 1 hour and it feels very comfortable.
GOALS: I'm planning to start off with $1000.00 and them want to move it up one by one. I LOVE the fact that my money (if done correctly) will grow exponentially. Really love that concept.
I'm only planning to trade 1 lot for every 1000 dollars I have. Not too sure if thats dangerous, but worked for me in the demo. Of course I'm going to take stats on my win rate in order to maybe increase/decrease lot size.
So lets begin!
