Hi all, my name is Lauren and I am from Singapore.
I have decided that I want to trade forex as a means of stable income. I have been studying for nearly a month now and only joined babypips today. I am still not ready for live trading as of now.
The current plan I have in mind is to start with an account of 3k, with returns of 30-35% a month. I do not intend to risk more than 1% of my account in a trade with a 1:2 risk reward ratio, hence I only intend to scalp the market.
I am still unable to produce more profit than losses consistently and the indicators that I have been using and am comfortable with are MACD crossover, Stochastics and Average Directional Index.
I hope to receive constructive advice, tips and discussions on how to make better judgement when it comes to deciding when to take on a position.