Forex Strategy Based on Signals and Indices from popular Sites

I'll share on this post my learnings and achievements on forex trading. Since I'm a rookie I'll start by:

1. Place only one order per day
2. Trade the EURUSD only
3. Trade (for now) using only recommendations from different sources:

1. The Trend Index from FxStreet for EURUSD on a 1d timeframe.
2. Moving averages and technical indicators from Investing.Com on a daily basis.

If all recommendations are met, then I'll place an order of 1 mini-lot (short or long). I'll be using Virtual Trading as the paper trading platform for being the most clear and simplest platform to use. I opened an account with 1000 virtual dollars. I'm user techvtrader. You can follow my performance on http://virtualtrading.com/techvtrader/trades/


Why am I doing that?

1st, I need to get used to placing orders. 2nd, I'll have time to read and learn while my order is placed. 3rd, I will loose "only" virtual money.

For now, there will not be stops or money management. This will be a very basic trading technique.

I'll be updating the post with which are the trading results for using de signals and indices from those Sites. Also, I'll be improving this very simple "technique" with new findings and learnings.

Thanks for reading!

I just placed my first order. Since both fxstreet and investing mark a Bearish tendency on the EURUSD (1 day) then I placed a short order on the EURUSD.
Let's see what happened tomorrow at around 21:00 - 22:00 CET.

I completely forgot about my experiment. Today I checked and oh! surprise! I have doubled my account from $1000 to $2000 on the virtual trading site.

This is crazy :-) I know I simply got lucky but I wanted to share my results anyway: http://virtualtrading.com/techvtrader/trades/

The thing is I was short on the EURUSD and forgot about doing anything on that account. This only shows how fast you can make (or loose) money on the Forex market. In 4/5 months you can make $1000 only trading one mini-lot. Crazy. I'll keep posting some results.

Hey guy,

I wanna share with you the indicator i'm using to forecast the trend. Check it out to support your strategy.

Signal Trend Indicator

Cheers,

LOL, after 4.x years since I started this topic I logged into Virtual Trading to see that I more than tripled my account with a single trade :-)
Of course, I 've been lucky. I just placed a trade and forgot about it hahaha:

https://virtualtrading.com/techvtrader/trades/

I guess the lesson here is long term investing can be very profitable. But I must admit it would have been very difficult to hold that position if that was real money.

Now, what would yo do now? Close the position or keep it going?