A blog charting my trades in forex. This is a brand new strategy that I have developed myself. So far it is working well, and people are free to take my suggestions and put them on their own account. Just remember that it would be YOUR decision to do so however!
Thursday, July 12, 2012
Back after a hiatus
Well, I have decided to come back to what I love doing most, and trading Forex.
This time hopefully for the long haul.
Same rules apply that I will post a message when I take a trade, and will post a message when i move out of a trade. These trades will usually be between 2-4 days long... sometimes longer, sometimes shorter. The idea of these trades is that they will be running with the market over a longer period.
Why?
Well the longer the timeframe you trade on, the stronger and better the signals. I took a hiatus to start trading on the much shorter time frames. That was a big mistake. I am confident that My strategy is pretty good and is good enough to trade on a part time basis.
I aim for about 100 pips per trade, but the stop loss will be around 50 pips. That means that I need to win 1 out of every 1.5 trades to be profitable. I know the maths don't stack up, but my money management means that if I win 10 and then lose 10 I will still end up ahead!
Feel free to follow my trades, and i will post ALL my entries and exits, take profit and stop losses and also lot size!
I will be starting off with the first trade today!
Enjoy
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