Greetings, I am relatively new to all of this FX carry on. I am learning as I go and reading a great many books etc. I deposited $500 into a etoro account which I am fully aware I will probably lose but it is a throw away investment to learn the ropes while I am getting educated. Like I say I started this etoro account with the intent on just learning the ropes, But it is now sitting at near on $1000 without using trendlines, Bollinger bands, or any other indicators. All I have done (and please tell me how wrong it is) I have been observing the eur/usd only and placing buy or sell orders when it looks like the market is either trending up or down in the appropriate direction. Only small amounts with no leverage and setting the take profit to a measly $30 a time and not setting a stop loss order ( I know this gos against everything I have read about stop loss orders) For some odd reason this strategy has worked for a hell of a lot more trades than it has lost. Can anyone tell me why this simple method has worked for the last 3 months or so, I mean is there a reason the eur/usd is not dropping by enough pips to stop this method working ie it always seems to bounce back and hit my small take profit order. Sorry to keep rambling and I am sure I will get abused but I thought I would post it anyways as I am sure it cannot hurt. I by no means intend to keep using this method as I thought that this forex business could be a solid means of income in the next few years as I will have a decent amount of $$$ to invest and I would like to be fully clued up before I put any $$$ into the account. Thanks all and thanks in advance for any input 
Phil (noob trader)
No your right. I would say price will most always return to a level. its a question of how long will it take to return it could be years or decades. And how far will it travel away before it heads back. This is where your system has faults because even with small amounts there is a distance far enough from your entry that you will have a margin call it could be 100 pips it could be 10000 pips. I have no idea. But it will happen eventually. Yes trading with the trend does make trades more likely to be in your favor. You have momentum on your side which is good. So just take your winnings, refine your game, and with your next trades improve.
Also i trade naked. So you can just use what ever method you see fit to trade. You want a lot of colorful lines and widgets go for it. Or just play the plain old chart. Whatever fits your personality
You must have had some trades that at one point were in the minus BIG TIME and then came back into profit… otherwise you wouldnt come here saying that your method will not sustain itself, right after making 100% on ur investment. Heres the thing about MAKING MONEY, if it works dont fix it. But like i said theres gotta be a reason (you said u dont use stops) that you think this method that you have been trading will not win in the long run. but hey if turning 500 into 1000 is great, id say try to somehow introduce Risk Management and Money management into what you are doing.
i hear alot of complaining in regards to etoro here…
Hello again happy traders, So this trading thing that I have been trying is still working. I have pulled out my initial investment and continue to trade. I have been doing some learning also in regards to using indicators. I have read not a lot of good things about Etoro although I have had only good experience. I am thinking maybe I should use another forex online broker. What can anyone recommend to me. I like the simple etoro format ,I have looked at MT4 and Oanda and they both look a little bit scary but I am sure you get used to them but are they good?? Thanks again. Also I was thinking of only using maybe 2 indicators. Which 2 would you all recommend as a good place to start?? Thanks guys.
You have a winning strat and you like your broker.
You are going to change it bec someone told you or you read somewhere?
Just a thought. I to trade with no indicators. Money nanagement and small lot sizes is key for me
So far you have doubled your account as i have also
Reading up on forex is great. But everything you read says your trading style is wrong. Same as me
But herein lies the question. If 95% of the people lose in forex. Maybe all the teachings are not so correct.
For me if my account keeps growing i am not worried about conforming to certain practices that everyone one else follows
Maybe it is luck or maybe it is outside the box thinking. But in the end
Account balance growing. Good
Everything else. Bad
Just my 2 cents.
Ron
Ps. Congrats on doubling your account
Sent from my iPhone using BabyPips
Interesting take on the 95% and information out there.
Be very carfule not using stops, the price can spike at any time, interest rate releases, GDP figures, Bernanke speaks, Trichet speaks. Ok you say you won’t trade near news releases, what about 9/11 or the day Kennedy was shot
I also use large SL. My NO SL doesnt mean all account in 1 trade. If i use 100 per trade, i still have 900 to trade if i have 1k. The chance of obama being killed is too small, so ill take that chance LOL
That is an interesting concept. I am going to run a demo using no stops to see how it goes.
All my trades have an automaticaly set SL of $100 and I have hit that SL 4 times since I started trading that account, However the ammont of times I have hit my TP of $30 far far out does the SL. Like I say I will continue as the $$$ in that account is now profit as I pulled out the initial investment. Just wanted to see what people thought of this weirdo strategy that I have stumbled across
I Use low leverage x25 or below. My ave win/loss is 30/3. Hope its always like that lol. I dont eat whole sl when i think its too far, i cut it when im infront of pc.
Cheers for the reply, Just out of interest what sort of system do you run?? ie indicators etc?
cushpill, the figures you quoted indicate that you are most definitely using leverage, leverage is transparent you don’t kind of actually see you are using it.
So you do run with with stops? So what is the leverage you use?
Yes indeed, I am using x100 Leverage. I have been setting my trades before I go to work in the morning and usually trading for no more than a day per trade. and for the last 26 trades I have made my $30 TP. I am waiting for it to all come crashing down (and I am sure it will) but I am happy to let it ride for now as it is now play $$$. Does anyone think that I could use a couple of simple indicators to make slightly more educated decisions on my trades, And what indicators should I concentrate on. I like the look of bollinger bands and moving average but would these indicators suit this style of trading (Etoro now has good charts with indicators etc so I might as well use them). Thanks guys. and all the best
Hi cushpil. Are you still using the OpenBook?
All things are difficult before they are easy. 
That’s just toooo funny! It’s so hard to pass up a straight line like that!
Hi Ho all. I haven’t been on these forums for a long time now. I am still using the original method I started with. It is still working. I have taken a couple big loses but overall I am well up on my initial $500 investment. I have pulled out another 3 lots of $500 profit along the way and the Etoro account is currently sitting at just under $3000. I know its not a million but I don’t trade that much and its a good bit of pocket money which the wife cant touch NICE! Happy trading you lot.