Hi all
Like the title says…Am soon 33yrs working fulltime in government agency. I have a wife and soon 3 kids so life is busy. But I like playing games…that include profit in the long term. I am no gambler and run a tight BR management in poker too. I am a winning player in Hamburgerstakes aka micros and has yet to move up to smallstakes. I mainly play NL25 cash and was playing in NL50 before black friday. aka the fall of FullTilt poker and DoJ FBI freezing accounts. Cashed out all my winnings aseuroplayers were still able to do so. Spent a nice summer with my family. This august started with $50 and have run it up to $500 so far. BUT…
Poker for me is in a low motivation atm. And I do like to have some spread on my manies. Thus for a new challenge and a learning experience i have decide to go for FX. Found this site and am learning and absorbing as much as possible from the exellent school thing you have setup here and forums. Also been reading whatever i have had time to read online from several other sources and I am truly thrilled of all the stuff on much have to understand to succeed in good ROI.
Opened an account in what seems to be the partypoker of FX eToro. Looks newbish friendly and has that FB generation feel to it with ok looking stats tools to work for you. Did some loltrades with the playmoney part but as it is i treat that like i treat playmoney games in poker. When there is no real money involved its just lulz. The stakes you have to use there are far bigger than in real money so the only thing its good for is testing the parameters and tools setup for one to go with in the realmoney side. And no i am not being ****y about this but there is no thrill in the playmoney. I willl rather win $0.6 in real money that 2k playmoney.
Plan. Made a nano deposit am ready to sacrifice. Will be looking to start making some trading next week. And studying all weekend long as much as irl gives time. I have been reading a lot already and I think I will start with using technical analysis to open and close my trades. Will be using 15minutes candlestick charts with EMA setup 10,20,50 (some say 200 but dunno its not even showing on the graphs i tested this setup with or ima just a newb who dont know where to look 
). Along with this will have RSI view on another window to not to push buttons when you shouldn´t. This setup seems rather informative for a newb and not cluttering myself with info i dont get really.
I will try and use a rather risky BR management and high RoR because I feel thats what i must do in the nanostakes i will enter the trading in. This money is the “tuition monye” I am willing to bust…but in the longrun will be robusto. Though i doubt i will bust out before i make another deposit. As the plan is to fund this “recreational” trading hobby with some extra I earn from poker and can put aside for this project. So each month I am putting in some moneys to boost my roll to a size where its sensible to drop down risk and still ableto make some pipstacks.
Stuff i consider my pros
-Tilt control:years of poker have taught me all about variance. Loosing few hundred in few minutes sucks but its usually variance that crashes you down like that and I have learned to control myself and walk away when first signs of monkeyrage tilt emerge. Same applies here. Money can be lost but I will not put more money into bigger leverages and looking for bigger profits in order to compensate. FX is a marathon like poker. slong as you make more EV+ moves they will pay off in the longrun even if you get sucked out occationally.
Realism:
As in poker the biggest mistake newbs make is they are result oriented. They count how many $$ the won and lost. FX to me seems like poker. In the beginning on must concentrate to avoid as many bad moves and make as many good moves as possible. Results in $$ are something you should not look into but the fact you must try make more EV+ moves than EV-
Willingness to learn and drive for success:
Theres a picture of me in the dictionary under this. The low morale in poker is driving me to learn FX.
Longterm plan:
Playing more with RoR now but in the long run will settle down to tight BR management. Understanding its a marathon not a get rich in few minutes deal
Cons:
-Newb
-Need tolearn more
-Only have trading experience in moving moneys between fundmarkets
-Need to learn more maths
-Need more time to study news
-Need more time to study more about graphs and value inputs that matter
-Needs to understand what matters
-Nanostakes can be frustrating (but it is in poker too and I have lived through the twice already so i know what to expect)
-The fact I will be making more risky moves even though i have decided to make it a longterm thing
-Oh did I mention am a newb and need a mirrion of work on studying everything to achieve the longterm goals…and shorterm goals
Well thanks if you read through it.Feel free to comment on my plans and whatnot. And how does my setup of EMA and RSI sound like (newb friendly?)
GL all…CU in the markets (and forums)
P.S.
Is that copy a trader thing any good in eToro…i mean that feels silly. You dont learn much using that?? or is that a “safe” way to have your funds work in “autopilot” and make some profits while you study everything and maybe have a side bankroll to do your own trading?
oh noes…could not post a threadsaver picture as I need 5 posts to do it
My best results have been found using price action and chart patterns SO FAR. But every trader has their own style. You may be able to get EMAs to work for you. I thoroughly recommend backtesting whatever you use.
