I am currently looking at FXCM demo account daily for opportunity to trade using
the Japanese Ichimoku Kinko. Good opportunities to trade do not turn up that often(maybe one or two times per market).I feel like I could be waiting months for a good opportunity.
My decision is that I will wait for those rear opportunities to trade to arise.
Since this is the case would it be a smart move to create a real account with a relatively small amount say £600, and just wait for those opportunities to arise. Currently I don’t have much experience with forex. but since I am playing a waiting game and waiting for a market
to show an obvious trend before I get on it should be low risk.
I do not have he time to specialise in one given market ( Such as EUR/USD)or even to understand support resistance etc, attempting to make money from
less desirable market conditions
If I gain more then 7% interest yearly, I would consider it a success.
To OP, yeah its possible… I find many chances to make trades, allll day long…
You need to find some indicators that work well, and learn then, watch them, take notes, and get confortable with it… If it takes 5 indicators, then thats what it takes… But, the point is, LEARN THEM… When all 5 indicators prove to be saying the same thing, its a good time to make a put.
Trading is an art… You have to feel the market, ride the waves, and be patiant, cause the profits will come…
The biggest thing, to me anyways, is being consistant, and knowing when to close a trade going bad, before it gets worse… So, learn to lose…
Yeah, 7% is very possible…
Im working a plan right now, that will make my invest 440 times in 30 days.
I don’t want to feel the waves, use intuition or guess when to open or close a trade. I want to be an opportunist who only pounces when all indicators say go.
Example: what would you do if an injured bull stumbled upon your back yard?
would you ignore him saying,“I am not a bullfighter” and let him stay. Or would you think this is a great opportunity to kill this bull because because of his injured state. I could kill him by throwing tools from my tool box onto him back. Or ram him with my pickup truck. Though this technique is crude it can be used to kill almost any injured beast. Just as I do not want to be a bullfighter as I don’t want to be a forex trader but if opportunity comes I do not want to miss it.
If £600 isn’t much to you then you can try it, or you could start smaller and if it is working add to your account. It depends how comfortable you are with your trading. You don’t need to make 5 trades a day to make money, not even one trade a day. One thing you should do though is clearly mark strong S/R points. These effect trading no matter what TF you are using and should be considered.
I would ram him with my pickup truck.Then get out of my truck and throw my tools at him then throw my ex-wife at him.That would kill any labido the bull as left.Maybe i have this in the wrong order?.
I intend to watch markets daily but not necessarily trade… It may be sensible to create a automated system of moving averages that is very conservative one or two trades a year.
