You’re very welcome - always good to hear that other family people are getting into Forex! We have four kids now, two born after I started trading, and we do it with no professional childcare. If I had stayed in full time employment then I don’t think that we would have had the bandwidth to have four kids. So it really worked out for us. The fact that my wife stayed in paid employment in the private sector gave us an important safety net, but the combination has really worked for us. Good luck with it!
Lol thank you! And hello from the UK/The Silver Coast - we’re a little way south of you, but in our view all of Portugal is beautiful! We very much consider it our second home.
No problem, thank you for the compliment, I’m glad you got something from it.
To answer your question, I scan the market late at night UK time, generally around 2200. I will have been looking in during the day so will have a watchlist with some to look out for on it, so it doesn’t take long. The Daily bars will generally be almost formed at that point, so I will place my orders if my scan yields a setup, so I’m often placing around 2215. I scan five nights a week - Sunday to Thursday. I don’t wait for London Open to place. Orders will often trigger overnight, so I wake up to find that I am already in the trade, but sometimes they will still be pending and then London Open will trigger them. Sometimes it is the Americans joining the party later on which triggers me in, and sometimes they don’t trigger.
The first thing I will do in the following evening’s scan is look in on any open trades/orders still pending from the night before. I’ll trail Stops on any open trades, and with any pending orders I’ll see if the setup is still valid. For instance, if I had intended to trade a rejection of a level then that second day’s bar might be another rejecting pin bar, which is anything might strengthen my case for the trade, so I will leave it (although I will tweak the Entry and Stop prices to reflect the newest bar). But if Price has blasted through my level then I will cancel the order as my setup is now invalid.
I always do my trade maintenance at the same interval as the chart from which I entered, so generally every 24 hours, at the same time of day.
Thank you so much! I don’t know which country you’re I, but one of the joys of Forex is that you can dip your toe in, start to learn your craft before you have to commit fully. So you can pursue both engineering and trading then drop one when the other works, if you wish to.
I don’t mind at all, but taking paid Forex courses really divides opinion on this site, more than anything else I have come across. So please can those who think it a terrible idea not just fill this thread with attacks on me…? I entirely get that training courses aren’t for everyone. I know nothing and this one worked out for me. That’s all I know.
Also, I took the course in 2009, so almost a decade ago. I haven’t taken any training from the company in some years (I think 2011 was the last formal tuition I went in for, some coaching with my mentor), and I don’t know whether the training offered now is the same as that I took, I don’t know whether the staff are the same as they were, so things might have changed a great deal.
Aside from being a former student, I have no ongoing relationship with the company and am not recommending people give them money. (Sorry to be heavy but I have had some unpleasantness on here because I have been on a course.)But as you asked:
The company was Ready 2 Invest (now called Learn To Trade). The basic course I took was a touch under £2000, and I paid about the same again for a series of one on one mentoring sessions.
(There must be a training section on BP, and I have posted about them some years ago, so there’s some stuff on here about them).
I’m glad that a few of you have found the interview helpful.