I have been studying forex for over a year. I have a basic knowledge of indicators, discipline and risk management. I have spent countless hours coming up with a strategy only for it to lose in the long run. I have read some great strategies on this forum. As much as I would like to use another persons strategy I also have the need to know whats going on so by developing my own I know why I am placing the trade. I try developing a strategy based on the KISS principle. I think where i am stuck is SL and TP. The feeling I have is like when you are speaking to someone and then you are interrupted or you just blank out and what you want say is right at the tip of your tongue but it just wont come out. From what i read in these forums is that it isnt the entry that is that important as much as the exit. What I have read about Money management but what I have read pertains to how much should I risk per trade 1% or 50%(not). But I am looking for something more about the exit strategy. Is it as simple as having a macd xover and finding the right exit, is it more complicated than a macd xover, am i asking the right or wrong questions ?? I have read books, forums and asked questions. I think my problem is that I am self teaching myself it is more like the blind leading the blind. They say practice makes perfect but what if I am practicing wrong. Anyone know of any mentoring programs within range of a working persons salary or how to find local groups . Good, bad or indifferent any advice is welcome.
thank you in advance.
Noe
thank you in advance.
Noe