I am back...from poker..I started FX about 1year ago hoping to rid myself from poker. But once a pokerplayer always a pokerplayer or something like that..so I slipped back to the darkside. But now with my 3rd kid born and work pressure going tons upwards and well me aging. I cannot function after playing poker all night and then off to work and after work spend time with fam. run errands and then when everyone goes to sleep i go to play poker...nononono am done (I hope). So I went back to the FX business. I also witdrew all my pokermoney and used them as downpayment to our new car we had to get due to one more childrens chari on the backseat.
So am now back. And most importantly I used more than 2 weeks on studying backtesting new strategies studying more. Watching videos reading blogs etc. Logged into my old FX account and saw the damage I did to it as a newb to FX playing with too much leverage on unconfirmed sinals and so on. I have tons and tons to study more. One big leak I immediately recognize is that I am totally terrible at estimating the exits and I have lost profits either exiting oo early or too late. But If theres someone willing to share what would be the best way to determine those. Resistnace supportlines? Fibonacci (srsly i have no clue about fibonacci ) something else. I am going to explain the strategy Ilike to use the most atm. so it could be easier to explain???
I use this kinda thing. First off I scan through daily charts thru my portfolion on FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free (I use this as I do some binary option trading on stock too) This in order to look thru which pairs are trending which way etc who looks strong and who look weak. So I am at my office and set alarms on the pairs I shoose to go with. Usually just scalping kinda thing or few longer positions if something is looking good on 30min 1h charts.But mainly intraday stuff. Signals I use are MACD line crossing confirmed by RSI movement and EMA crossing MA. When all these lineup its tradingtime.
Example from Netdania I sometimes use at work too (luckily I have 2 monitor setup onmy office so i can have FX on one monitor and work on another ) Also the facebookbroker offers charts wit ok tools for my tactics but eat tons of cpu and dont keep the studies while going thru pairs so have to open multible windows cluttering the comp even more..thus feestockcharts or netdania.
I am also with the "most hated" broker..the one who many newbs me included get in with..and yes I am looking to move away but I am looking to
1.win back my newb losses (yes I have a nano account 156usd initial start only 9usd short from this)
2.atleast double my initial deposit probably triple
Then leave some money for the social "playstation""facebook" broker and have "gurus" make me money.
Well I hope to continue with as good success as I have had since I got back on august 1. Just focusing on my tactics. Looking to profit ateast 1% aday. I saw some reg here talk about 5% a day buti am happy for atleast profit daily even for one pip gunning for 1%. ocv sometimes loosing but for the first half of august been ob fire with 0 negative days.
Heres the chart for 1st-17th august. (including social trades) mytrades +30usd copytrades rest
wish me luck!
followup weekly from nowon.
hoping help for exits
recommendations for low spread broker with skrills as depo option mt4 and webtrader ability.
Chher and great weekend! (also have free weekends as no fx no weeknds compared to poker)