Hey everyone i have been refining my strategy the past couple of weeks and i think its really starting to come together… until it falls apart hahaha. but hopefully that dosent happen. I have mentioned before how it involves MACD and RSI plus price action so i plan on making a thread just for the strategy to explain how it works but i need to gather some pictures and more info. it really is simple. yesterday after the fed meeting there was a lot of volatility and this gave a lot of opportunity for my strategy to work. ill attach the image of all the trades i took. keep in mind though i split my position in half so i can have two TP, so i guess you can divide the total pips by two.
this system has a very low risk and good reward. My average loss about 20-25 pips and my average win is 80+ pips. ill attach myFxbook as well. this account has been open for about 2 weeks now and i really have been only trading my macd strategy also just regular bounces of trend lines. i have learned not to trade the news directly when its realsed but to trade the result of price once it happens. this has minimized my losses a lot.
The thread will be created soon about the strategy.
Was enthusiastic reader till my eyes stumbled upon the word “demo account”
Don’t want to baffle you, but 100$ profit on demo is 1$ profit on real, I mean 100 times more difficult. It can appear too pessimistic and uninspiring, but this true is something I struggle with everyday. Don’t waste time on demo, try real trading with 100-200$ and you will make a huge leap in your progress…
Cheers
sorry to disccourage you about the demo account thing. I’m trying to ge a real account soon… I’m 17 and currently trying to convince my parents to let me open one. i might ask for one for my birthday in april but maybe I can get one sooner. i use FXCM as you can see and its annoying how i can’t open a account with like 500 dollars. the minimum is 2000… thats annoying. can you any of you recommend a good beginner broker?
If you’re purely tracking your results there ain’t nothing wrong with a demo account.
If you’re doing well and making calculated decisions there you can cross over and do the same with a live account, provided you stick to the same rules.
And that’s where people’s concerns lie. Some traders go stupid with demo accounts and blow them up until they get lucky with one and think they can go live with some whack strategy. And when real money is in the line with something high risk and no potential edge, then one is more likely to stray from the original plan and it’s likely the original plan was garbage to begin with.
i don’t think i would have a problem on real account but who knows until i try. the only reason why is because i really only risk 20 pips at a time and once my first TP is hit i move my stops to breakeven or even in profit. Im gonna make a thread about it soon. where is a good place to put this thread? the systems page? or here?
Are you from US? If no, there is a plenty choice for you! I’m personally with Tickmill on ECN account, I consider their commissions among the lowest. Feel free to try their demo.
The other advice would be to…diversify. Try as many brokers as you can, because they can be quite different when it comes to real trading
