Hello all,
I started with forex trading around 18 months ago.
In the first two months I lost my account. (7000$)
I did many things without educate myself at all, and most of my positions I opens based on what I read online.
After lost the account I took some time off, I was pretty depressed and never thought I will try it again.
After a year or so, I felt that tickling in my fingers and opened a chart again.
Truth is everything was clearer to me.
I started to read, not forums so much, but TA books.
When I started I thought that all I need is a good system, after a while I understand that all I need is concentrate on trade right, using TA only, and not try to build or use any systems.
Then I tried to study as many indicators I can, but I gave it lots of thoughts and I find it hard to make decisions while watching indicators that build on the price.
I could not find the logic in it, and therefore I tried yo work with no indicators at all. (Exclude volume which not relay on prices, but have it problems in the forex market)
I opened a demo account and started to trade. I tried many things, but nothing works for me.
one thing that works for me a little bit was R&S. this was the first time I saw some consist profits, but not enough. That time I was sure I was in the right track and I wanted to keep it as simple as i can.
Eventually I found a pretty good way (NOT SYSTEM) that works for me, with no indicators and no fundamental analysis at all.
Now I have pretty good entry points and I see many more positions with no (-) besides them.
Anyway, my problem is to maximize my positions, I found it very hard for me not to close a 50-60 pips profit position, and of course I hate myself for doing it most times. From the other hand I do not want to see a 50-60 pips profit position turn into a loser.
Maybe someone can help a little or advise how to find the best exit or a method to do it best.
For the last 5 months I made 350-400 pips a months. not great but I am sure that with good exit method I can increase it.
Thing is I want never touch the position after it open. But of course I will be happy for anything can help here.
I am sorry for my bad English.
Regards.
I started with forex trading around 18 months ago.
In the first two months I lost my account. (7000$)
I did many things without educate myself at all, and most of my positions I opens based on what I read online.
After lost the account I took some time off, I was pretty depressed and never thought I will try it again.
After a year or so, I felt that tickling in my fingers and opened a chart again.
Truth is everything was clearer to me.
I started to read, not forums so much, but TA books.
When I started I thought that all I need is a good system, after a while I understand that all I need is concentrate on trade right, using TA only, and not try to build or use any systems.
Then I tried to study as many indicators I can, but I gave it lots of thoughts and I find it hard to make decisions while watching indicators that build on the price.
I could not find the logic in it, and therefore I tried yo work with no indicators at all. (Exclude volume which not relay on prices, but have it problems in the forex market)
I opened a demo account and started to trade. I tried many things, but nothing works for me.
one thing that works for me a little bit was R&S. this was the first time I saw some consist profits, but not enough. That time I was sure I was in the right track and I wanted to keep it as simple as i can.
Eventually I found a pretty good way (NOT SYSTEM) that works for me, with no indicators and no fundamental analysis at all.
Now I have pretty good entry points and I see many more positions with no (-) besides them.
Anyway, my problem is to maximize my positions, I found it very hard for me not to close a 50-60 pips profit position, and of course I hate myself for doing it most times. From the other hand I do not want to see a 50-60 pips profit position turn into a loser.
Maybe someone can help a little or advise how to find the best exit or a method to do it best.
For the last 5 months I made 350-400 pips a months. not great but I am sure that with good exit method I can increase it.
Thing is I want never touch the position after it open. But of course I will be happy for anything can help here.
I am sorry for my bad English.
Regards.
Regards,
Ido
