I'm looking to open a live account eventually, but i don't know when you how.
I've been looking in depth into Forex since i was first a member on this forum and since then have gone through all the phases, followed EA's, Worked without stop losses etc etc.
I'm now working trades out based on Basic Trend Line breaks, a maximum of 2.5% risk as my stop loss (not set in stone at the moment, still experimenting).
Something i used to find was i was changing sl and tp depending on gut, and ending up stopping out to early, or tp to early, resulting in drawdown.
Now if i see a trade i want to enter, i try and indicate towards 3 points i think the currency will hit, and set Sl and TP accordingly - this allows me to close down the broker software, then wake up the next day to see what happened.
Since opening my new demo, (havn't done any trading for 4 months) i've made 21 successfull positions (every single one profitable, i was trialling different size lots, so profits vary), which have resulted in over 500 pips, in less than 20 days, but only 6 actually trades (using 2-4 positions per trade).
Any advice?
obviously when i start i'm going to use a small $250.00 account.
I've been looking in depth into Forex since i was first a member on this forum and since then have gone through all the phases, followed EA's, Worked without stop losses etc etc.
I'm now working trades out based on Basic Trend Line breaks, a maximum of 2.5% risk as my stop loss (not set in stone at the moment, still experimenting).
Something i used to find was i was changing sl and tp depending on gut, and ending up stopping out to early, or tp to early, resulting in drawdown.
Now if i see a trade i want to enter, i try and indicate towards 3 points i think the currency will hit, and set Sl and TP accordingly - this allows me to close down the broker software, then wake up the next day to see what happened.
Since opening my new demo, (havn't done any trading for 4 months) i've made 21 successfull positions (every single one profitable, i was trialling different size lots, so profits vary), which have resulted in over 500 pips, in less than 20 days, but only 6 actually trades (using 2-4 positions per trade).
Any advice?
obviously when i start i'm going to use a small $250.00 account.