I’m Regan Okoro from Nigeria, I started Forex 2months ago. So far so good I have blown 3 live accounts. The truth is that I love blowing live accounts because the more I blow the more I learn real time. I love Forex because it would make money work for me while I’m fast asleep. Passion drove me to trade Forex.
I started off with the Fibonacci analysis, I thought I was so good until I blew the 3 accounts in just one week using 15M charts. Then my eyes opened, I stopped trading and concentrated more on babypips course. I didn’t demo trade until I graduated from the school of Pipsology, I was just observing the charts as babypips thought me like a baby boy. After graduation, I started looking out ways to create my trading system and knowing my preferred time frame. I started out with the 15M, moved to 1Min, 1WK, 1D and then 1Month. I felt comfortable with the 1D due to the nature of my job and 1D became my missing rib. To cut all story short, I’m a 1D trader and I Trade smooth SMA body shaped W or M as of the time this post was written. I’m looking forward to learn everything I come across in this forum.
Alright @Rickster99 I will stop blowing accounts. For my risk management strategy, I try to give my SL breathing space to TP while risking the usual 2% of my account balance, sometimes I risk 3%. Don’t know if there is any other things I should be doing?
Wow! 1% sounds enticing, I will put that in action. Thanks for the advice. I have a question. Will one be able to practice proper risk management with $100 using 1:10 leverage? Will his SL be tight and will he be able to still risk 1% of his account balance without getting stopped out? Will he be able to risk 1% at all or even 2%?