Hi everyone, I've been here for a few weeks, mostly watching and learning because I'm an absolute beginner at this. I've been encouraged to open a journal because friends say it is the best way of improving trading skills and practice, so here I am.
Firstly a bit about me; I'm a Politics student in London, UK and I'm getting into forex trading to pay off debts and fund the rest of my studies. I heard about FX trading from a friend who was doing quite well and gave me the courage to start. I've only joined the community for about a month and have learnt quite a bit.
Secondly about my trading style; I mostly daytrade the majors, in particular cable, euro, swiss and the three main yen pairs (E/G/U-Y). I scalp when I'm bored or low on pips for the day and only carry a trade if I'm sure of big returns. I tend to read a lot of news, analysis and opinions, but don't like too get into techinicals too much. Fibs and RSI are about the max I would read into the market as far as technicals. I do a lot of chartwatching and tend not to use stops when I trade.
Thirdly about my broker and account; I trade with EFXGroup, only a demo account for now, but I'll be going live as soon as exams are over (mid June) with about $12k. They have been quite solid for me, no complaints at all, answered all questions really quickly. Platform is average but they've got a new one due soon. The best thing about them is their spreads and seemingly ethical practice. Worst thing is rollover swaps and commissions.
Finally I hope you guys can pass on any tips or advice on trades and thanks to everyone who goes to the bother of reading this.
Firstly a bit about me; I'm a Politics student in London, UK and I'm getting into forex trading to pay off debts and fund the rest of my studies. I heard about FX trading from a friend who was doing quite well and gave me the courage to start. I've only joined the community for about a month and have learnt quite a bit.
Secondly about my trading style; I mostly daytrade the majors, in particular cable, euro, swiss and the three main yen pairs (E/G/U-Y). I scalp when I'm bored or low on pips for the day and only carry a trade if I'm sure of big returns. I tend to read a lot of news, analysis and opinions, but don't like too get into techinicals too much. Fibs and RSI are about the max I would read into the market as far as technicals. I do a lot of chartwatching and tend not to use stops when I trade.
Thirdly about my broker and account; I trade with EFXGroup, only a demo account for now, but I'll be going live as soon as exams are over (mid June) with about $12k. They have been quite solid for me, no complaints at all, answered all questions really quickly. Platform is average but they've got a new one due soon. The best thing about them is their spreads and seemingly ethical practice. Worst thing is rollover swaps and commissions.
Finally I hope you guys can pass on any tips or advice on trades and thanks to everyone who goes to the bother of reading this.
I miss cloggie.
