Last try in forex trading

This is my last try in forex trading. I will invest € 100 a month and than if will trade in profit after 6 month or so carry on, otherwise will close account. will trade mostly EUR/USD and EUR/JPY as hedge. Trading account is old,but after big loss on SP500 didn,t trade for some months.

Why open a thread about it, just do it !!!

Doing it again for last two weeks.

On Oanda account,which I am trading on,there is no possibility of trading both ways,so instead I hedge my short position on EUR/USD with long on EUR/JPY. Is that make sense?

Short EUR/USD + Long EUR/JPY = Long USD/JPY
Maybe you need add Short USD/JPY too?

If I short EUR/JPY than long EUR/JPY is closed. On OANDA you can not have long and short at the same time.

Why don't you know already if your selected strategy will be profitable?

If the outcome of your strategy over a large series of trades is unknown, you should be still demo trading.

As you can see , I am trading very small lots ,so it makes small difference from trading demo.

Today will trade on strong possibility of EUR/usd strength. Since I have four EUR/USD shorts,Iwill hedge them with EUR/JPY long. Opened one EUR/JPY already.

Another goal is to profit at least 1% a month. Today I Bought USD/CHF for an interest difference.

EUR/JPY is mirror image of EUR/USD. Perfect to hedge. At this time I have four short trades in EUR/USD and no EUR/JPY trade. If EUR keeps going south I will start closing shorts with profit.

Long EUR/JPY after bounce from 130.

Good range trading. Made profit on EUR/USD and EUR/JPY.

Yesterday EUR/JPY went out of sync with EUR/USD. That shows to me , nothing is certain in Forex. Longer I am trading, more certain am that any meaningful move in price of any forex pair is caused by fundamental reasons. the charts show us the move,but reason for it,we can only find latter.

Trading positive for a year. Joined 5% traders who are trading successfully. Profit for a month also 1%,which is my goal.

I am also on last try.

One simple thing if you can implement.... Let the winners run and cut your losses short as soon as possible.

I know,my biggest problem is that I take profit too soon and not cut loses when they still small. But with this new system my trades are hedged.

Good luck into your journey, but...

Thinking that trading another pair is an edge to your first trade is wrong, you will experience that when your first trade goes well, your edge one will eat it's profits and viceversa and this is not counting that sometimes both could turn bad which will just add confusion to your trading.

Let the winners run and cut losses short is known as good advice but without a system backing that statement, it means just nothing ! When do you know that a loss is small enough to close that trade ? When do you know that a profit is big enough to take profits ?

My advice, spend your time building a system and confidence on it, without it, you are just losing your time, not only your account.

As you can see from my acc.I am trading very small lots. My plan is to close all other trades than EUR/usd and EUR/jpy. Till now my EUR trades had made me a profit. At the moment I have 4 EUR/USD and 4 EUR/JPN because there is no clear movement in any direction. If any pair move clearly in one direction I will start opening new trades in that direction.

After Trumps comments about China trade EUR/USD went up,but EUR/JPY because of falling USD against all currencies especially JPY, did,nt follow but went down,out of sync in previous days trading.