Hello all!
I am a new almost-graduate from the School of Pipsology, and I come bearing questions! (and a lot of information about my background, plans, etc.) I did not know if it would be better to split introduction and the questions to two threads; I can move or change everything if this was wrong.
So beginning with my background: I have very mildly dabbled in Forex before. I knew when and what to click in MT4 but that was it. Now that I have almost finished the School, I have my plans and ideas and, more importantly, questions.
Current plans: I think my work schedule and character is most suited to Swing trading. I have set up a demo account with eToro (I feel weirdly comfortable with that), and setup MT4. I will wait to go live until I have at least 1000 in savings, and at least 6 months in demo has passed. My plan for a typical week is:
Weekends: check daily and longer charts to educate myself on any existing big trends.
Weekdays: After work (or gym), come home and dedicate 1.30 hours into chart analysis, checking my open positions, and checking calendars for big news coming out in the following days.
This week is the final “preparation” week before starting trading on demo. In this week, I will decide on all the details and set up everything (technical, like downloading apps opening accounts etc.). Now, here is the part I need help with! A.k.a.: question time.
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I got an account on meetpips.com after I read about it on “Keeping a Journal” lessons. But I have no idea how to use this! I have a seperate google sheet of my own to use; but I read I can see other people’s journals here. It would be great to find some swing traders and see how are they trading Any tutorial out there or pointers you can give me?
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Kind of related to 1. Is there a video/book/website that you can direct me to for learning more about swing trading? I learn best by seeing what people do; so although I get the differences and the main philosophy behind swing trading, I would love to see someone actually going through the decisions like “I opened this position 3 days ago, but due to these these reasons I close it today.” Would help me a lot in understanding the time frames and investigations of swing trading better.
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MT4 is not supported by eToro, and that is a compromise I am willing to make (again, I am weirdly very comfortable there even though MT is not supported). Is it possible to do the technical analysis on MT4 and just use eToro for actually putting down orders? Is it efficient enough, or do I lose too much time?
Thank you anyone who takes time to read and maybe reply to this. This is an awesome website that I am so glad I found! I am looking forward to any help and guidance you will surely give
Once again, thank you.
Have a nice day!