Hi all,
Thought I'd post a proper intoduction here and ask a coupe of questions that have probably already been answered 1000 times, so I'll appologise now and get it over with.
I'm a 21yr old Risk Managment Student from Glasgow. I started looking into forex properly last week, its somthing i'd thought about before but never got round to.
For a couple of years now I've tried to devise sported betting systems that make a profit, and have been sucessful on occasion, however the returns from those that did profit were out weighed by those that didn't. I still intend to run with two of the systems, but will have to wait for the new season to start for that.
So far I've read through babypips and a number of .pdfs and over the weekend when I got a chance to properly sit down and look at charts was the first time I had an incling of what I was doing. My first reasearched demo trade netted me 121 pips yesterday (short on £/$) although It could have been as high as 171
Last night after that I decided to restart my account to get rid of all the mucking about stuff I did last week and restarted with a £1000 oanda account (reasoning, 1000 is easier to calculate % from)
Right now on todays trades I'm about 4% up, although half of that is still active in the market.
Now for the questions if you don't mind,
Firstly, since we're in the buisness of currency trading, do most people keep their bankroll in your native currency, or is it best to split it over a range of currencies to prevent risk from a tanking £ taking out 10% of your bank.
The second is how many currency pairs. Do you personally track? I've found that so far 1 is enought to occupy me on intraday stuff (£/$) and that when looking at daily and weekly charts I can comfertably look at each of the major pairs once a day to see if I can spot an entry.
Cheers,
Pete
Thought I'd post a proper intoduction here and ask a coupe of questions that have probably already been answered 1000 times, so I'll appologise now and get it over with.
I'm a 21yr old Risk Managment Student from Glasgow. I started looking into forex properly last week, its somthing i'd thought about before but never got round to.
For a couple of years now I've tried to devise sported betting systems that make a profit, and have been sucessful on occasion, however the returns from those that did profit were out weighed by those that didn't. I still intend to run with two of the systems, but will have to wait for the new season to start for that.
So far I've read through babypips and a number of .pdfs and over the weekend when I got a chance to properly sit down and look at charts was the first time I had an incling of what I was doing. My first reasearched demo trade netted me 121 pips yesterday (short on £/$) although It could have been as high as 171
Last night after that I decided to restart my account to get rid of all the mucking about stuff I did last week and restarted with a £1000 oanda account (reasoning, 1000 is easier to calculate % from)
Right now on todays trades I'm about 4% up, although half of that is still active in the market.
Now for the questions if you don't mind,
Firstly, since we're in the buisness of currency trading, do most people keep their bankroll in your native currency, or is it best to split it over a range of currencies to prevent risk from a tanking £ taking out 10% of your bank.
The second is how many currency pairs. Do you personally track? I've found that so far 1 is enought to occupy me on intraday stuff (£/$) and that when looking at daily and weekly charts I can comfertably look at each of the major pairs once a day to see if I can spot an entry.
Cheers,
Pete
