NZD/USD
Same story with the NZD/USD. Clearly in a bullish trend, but the price is really far away from the Kijun. Definitely have to wait for a pullback before entering.
So, I’ve been pretty busy for the past 7 months. So busy that I’ve all but forgotten to post on here - but I have not forgotten to trade!
Let me recap. I finally found a well - paying job, so it looks like I will have the capital that I had planned on committing to my FOREX account sometime early next year.
I changed up my strategy as well, or rather, went back to price action. Over the past few weeks, I feel like I’ve really gotten the hang of price action and am getting more comfortable with it. My account is showing that as well! At the start of October, I had $400 in my account. That was down to below $390 at one point but is now up at $423! I have a trade on right now that could bump me over the 10% return/mo mark too!
My goal is to have at least $520 in my account by Jan 1st. That will be a 30% return in 3 months. At that point, I would feel comfortable to committing a few thousand dollars to this venture. We’ll see about that though.
good stuff, price action, i did many research on that. and already do my own research and plan to develop an ea.
10% a month are still at big time profit i think, but as long as the DD are low, everything seem great.
if it possible keep the account stable for at least a year, and you’ll find several people contacting you as their manager. has already put on myfxbook page yet?
Thanks for the encouragement, ontario!
I’m not sure if 10%/mo is reasonable or what…It’s hard to find info online as far as expected returns go. Do you think 10%/mo is outrageously high? I know a ‘good’ return for a Hedge fund would be anything over 10% annually - hard to believe it’d be possible to show returns 10X that of a good hedge fund. Is that just due to the lucrativeness of FOREX?
I’m risking anywhere from 1.5-2.5% of my account on a single trade - never more than that. That seems like an acceptable risk to me.
any profit are acceptable, as long as the Drawdown are low, keep the DD below 10%, or at most 15%. i’ve been years research many clients, and here’s few requirement of their thought,before having their account traded by fund manager,forexcopy,or autotrade :
first is DD around 10%, account performance at least 1 years (live account), montly profit aroung 3-10%, no negative trade for 2 consecuetive months, no lot increasement strategies such martingle, etc, each trade use stop loss, and prefer an average daily trade length.
at first my thought is to run my own money and profit from it, but when you realized 500usd initial deposit would get you anywhere, as times goes you’ll get pissed off seem you;ve got nothing from trading. try to develop good trading strategies, use small money, adapt the strategies to the markets need, and put it on your myfxbook page, and you;ll have few investor contacting you in order to become their manager.
EUR/USD
As you can see by the weekly chart, the EUR/USD is in free fall - with no real support to speak of until the 1.206 level.
Looking at the daily chart, there’s no real bearish signal right now. However, I’ll be watching this in the coming days for a nice bearish pinbar. A noice toight pinbar. Or maybe some other type of PA signal so I can re-join this downtrend.
Looks like the GBP/USD is in free-fall as well. Price broke below a recent support and not there’s no real support to speak of for a couple of hundred pips.
Looking at the daily chart, there is no decent PA bearish signal right now. Will have to be patient but I’m waiting for a pin bar or some other sort of bearish price action signal. On the weekly chart, it looks like the price has ranged between that resistance and where it is now. Maybe it will rebound before a bearish signal forms?
