How I Trade

Hi Everyone,

I just joined this forum, but have been reading the posts for several months now and decided to be a member. I mostly used forexfactory for the calender.

I have been struggling with different methods and had to refund my account twice. But I find that when I only use one indicator, I do better. I always use the 200EMA on my charts and then price action. I pay attention to news releases, round numbers and market open times. I found a currency pair that is active when I have time to trade and studied its action during that time. So now I have and idea about its behaviour. I aim for 10 pips a day at 1 lot and then shut down the trading station. When I reach a certain amount I will increase that to 2 lots at the same 10 pips a day on average. I have a micro account. When my target for the micro account is reached, I will convert to a Mini account, start with 1 lot and increase as my account grows. Next comes the standard account, and the cycle continues . So in about 5 years I should be trading real money as long as I remained this disciplined.

Well i must say that you sound like you have a good plan that is definatly not reckless and you have laid it out in your opening post. Refer to it often to put yourself back in check when you feel like your moving away from it. 5 years is a good timeframe to get an account built and your approach is simple which works for most.

Best of luck

Good luck SupaDre...

Thanks,

My three year old is helping to keep me focused. Because I want to build a future for her.