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.
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