I am a newb for fx trading. Just finished reading Pipschool and have started trading since a month ago.
I am currently working full time from 9 am - 730 pm every M-F.
Thus i can not trade full time no matter how much i want it.
During work, it is hard to actually keep checking my trades and reading news unless its during my lunch break.
My question is,
As a part time trader, is it possible to actually make a decent amount of money to at least cover half of your expenses?
My target is to be able to gain US$ 500 per month for the first year,
Us$ 1000 per month for the second year
and then goes up to Us$ 2000 per month for the year onwards.
I am planning to trade with US$ 5000 initially with lot size of 10,000
Assuming my winning ratio of 35% to losing 65% of the time
I will stop my loss at 30 pips and profit taking at 60 pips every trade.
Any suggestions on how i can optimally plan my trade to fit my schedule?
Any reply or feedbacks would be greatly appreciated.