Hi there Babypipsters,
I think it is time for me to get filthy rich! ![:sunglasses: :sunglasses:](https://forums.babypips.com/images/emoji/twitter/sunglasses.png?v=5)
Just kiddin’ , I start my journey with a $1000 demo account. I will see where the road leads to. If I can make consistent profits over a period of 3 months, then maybe, just maybe, I will switch to a live account.
I have decided to trade the forex naked. Naked you say, is that not 18+? Well it maybe is, but I still find it to be correct.
I will use support & resistance combined with high probability price action to enter/exit trades. I will work with the daily timeframe.
In the coming posts I will add pictures to clear things up and explain why I took those trades. Also I will state every week what my balance is.
Please keep this thread nice and friendly, feedback is more than welcome, but be nice you know
Hope to hear from you, tips and suggestions are always a good thing.
See you in my next post!
Brilliant! Good luck pal, what will you be trading?
Hey there! ![:slight_smile: :slight_smile:](https://forums.babypips.com/images/emoji/twitter/slight_smile.png?v=5)
I will be trading quite a lot, 28 pairs to be exact. I have an expert advisor which looks at trading oppertunities between all these. This way I know where to look.
After this I will draw support and resistance for that pair and decide on trading it or leaving it the way it is.
I did just place an pending order to go short at the Aud/Nzd. A pin bar formed near the resistance level. I must be careful though ,cause it opened with a gap over the weekend.
Thank you for your reply, see ya!
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![:sunglasses: :sunglasses:](https://forums.babypips.com/images/emoji/twitter/sunglasses.png?v=5)
This is the first day trading this account. My AUS/NZD short trade got triggered at 1.06988. I have set my take profit target at the next support level.
I understand all of this is not very clear yet. I will try to upload some pictures with my analysis using support & resistance combined with price action in the future.
Also I will keep you updated about my demo balance. I think its funny to see whether it grows or not.
See ya!
Progress so far…
I switched my charts from a daily timeframe to a hourly timeframe…
Why you ask? Well, let me explain…
I like trading, I love making the decisions and watching the screen to see if Im right or not. Waiting whole day for this is a bit too much. I hope all goes well…
I will still be using the same principles, support and resistance combined with price action. Pictures coming up, I promise.
Good night
I am down to 735 euro, Im doing something wrong ![:smiley: :smiley:](https://forums.babypips.com/images/emoji/twitter/smiley.png?v=5)
Hey! Got any new updates?