Questions from a newbie

First off, hello all. I'm eupho, a 21 year old semi-professional poker player from central florida (which basically means I'm 21 and I have practically no bills to pay) and here's my thing:

My poker bankroll is x,000. I only need a max of about $500 right now on any given day, the rest sits in someone ELSES bank account, earning THEM money. Clearly, this isn't an ideal situation for me.

So in the past 4-5 days I've become very interested in forex. I'm playing demo still, and while Ive already made some mistakes (like giving fxsomethingorother my real phone number. Ugh.) overall I'm very pleased with my progress.

I'm using a system I found here on this forum maybe a page back. I can't find the link right now (I'm still playing 4 tables of poker ;p) but its basically 3 WMAs (5, 20, 100) and I'm buying everytime the 5 is above the 20 and 100, close when the 5 touches the 20, sell when the 5 is below the 20 and 100. Its really performed absolutely fantastically so far. But really, if making money was this easy, wouldn't everyone be doing it? So I bow to you all, how realistic is this simple system longterm? I'm using it with the 30 minute charts. I'll try and get the link to it in a minute.

Everyone talks about taking a system and "making it yours" ... I guess I'm too new even to bother with that.

Next I'm confused on setting SLs and TPs. Is there a good guideline I should be following when setting my initial ones? Something like setting my SL 10pips negative and TP 30 pips positive and then adjusting them as I feel comfortable (ie sliding the SL up to the breakeven point)?

What is a "good" forex ROI?

Thanks for dealing with my rambling, I'm sure I'll have tons more questions. Forex seems to be the only group of people who love acronyms more than the military.

Finally, as I said I'm a semi-pro poker player, I'm also a moderator at a very popular poker forum which I wont mention in my introductory post, but if anyone is looking to "trade expertise" pm me.

~Euph

Euph

I hope that you are as successful with the forex as you are in poker.

Look at the beginners section of this forum and you will find great learning infomation relating to the forex. You will find a lot of useful info on SL's and TP's, etc.

You did not mention if you have the free MetaTrader platform used with your demo. If not, get it and become familiar with it.

Good Luck and we look forward to seeing more posts.

I'm in the beginners section?

And yeah, I'm using MT4 for my demo on advice of someone in some thread.

thanks for the post
euph

No, your not in the beginners section my friend. But you will find the answers to your questions in the beginners section. These questions has been asked previously and received different replies from forum members. That is why it was suggested to go there instead of posting your answer here.

Good luck

Where am I, then? Its showing that I'm in forex beginner Q&A? I'm normally a pretty smart guy, but I have a feeling I'm going to feel very stupid in a minute...

You should become very familiar with this forum. Your personally not in the beginners section...YOUR POST IS. This is not a title for you or a placement. This is a section where questions such as yours was placed due to the content and best fit. Pertaining to your questions about TS's and SL's, it is more likely that it will be seen and answered while in this area. If you wanted to post a question about MetaTrader, you would to go this section of the forum and post your question there since it is MetaTrader related. You direct where to ask the question. If you post in the wrong place, the Moderators will move it to the proper place.

Hope you have a better understanding now.

Good Luck