I am new to Forex still. I have been using a demo account and even that…I have been more inclined to not place hardly any trades. Whats the point? if your not 100% confident then your setting yourself up for a fail and perhaps even putting yourself off Forex all together. I am going over and over Hector Devilles Learn Forex Live course videos. He uses all the analysis tools I like to use. I’ve placed a few trades so far and about 60% lost. You might think why so much? because its never 50/50. You must take into account SL which can get hit and increase the chance off failure. So even on a potential winners you can lose.
Even with 60% loss I still break even because of MM. so I guess for me… I have a system in the making BUT, as many other people, i’m trying to get the Edge… to take me above the break even and into profits. I think that will natually come with screen time.
MY goal is to get say 60% winners. With MM, taking this in reality up to 70-75%. On a £2000 starting account I dont see why I couldn’t make £700 + a month “in the end” This would require 4 trades per month which get 3:1 RR. thats it! but obvcourse any losing trades will set me back but anyway this is my goal. See what happens.
I am aware it may never happen. But with the effort I will succeed.