Hi guys, i’m from the UK, i’ve been trading for about 8 months now and have recently just started to become profitable! I heard about babypips for the first time about 2 weeks ago and decided to give it a shot! Can’t wait to build on the knowledge I already have and to continue learning more and more. My ambition would be to be able to trade FOREX as a full time job, and I will stick at it for however long it takes!
Great attitude. Keep going. The more you learn about the Forex market, the better you’ll become.
My daily starting point is always briefly reading fundamental media reviews just to get a ‘feel’ for market sentiment possibly affecting a currency now or later. Then I set up my system strategy and review the technical sites like MarketMilk on here - a very comprehensive technical information board on the forex pairs.
That’s for starters - and I clear my mind before opening up any charts to fully concentrate on identifying and selecting possible trading opportunities.
Discipline and patience are key. So is risk, which for me is a maximum of 2% of capital per trade and only have a maximum of two correlated pairs trading at any one time. I was once caught out with 13 large losses on the same day, because I made the mistake of trading more than two correlated trades - and too many undisciplined trades…
A lesson learnt.
1 Like
Brilliant advice and sounds like a great way to start the day. Definitely going to start doing a similar thing before I open any charts, like you said. Will make sure to take a look at MarketMilk for sure, sounds like a brilliant way of reviewing information!