charts are looking good.
DD is lowest it has been in months.
FOSI is rearing it’s head!
I must keep calm and carry on!!
If I close all trades now I will have surpassed my original demo goal. However, as my chart reading has continued to improve and my strategy refined, I feel as thought there is more green to be seen.
I’m sitting tight. The key things I have learned on this demo account has been patience. Lot’s of patience!! The market goes up and down and I can wait for profit. ALSO, risk management! It is critical and lies at the heart of my strategy. this is possibly the most important thing I have learned. My lot sizes range from .01-.05. There has been a couple of outliers: 1@.1 and a few at .06.
I have found adding to my position has been profitable and setting limit orders has worked out well. I no longer will pull the trigger on a market order.
Still unsure of which broker I am going with for live account. Would like to settle this and do one more demo with the broker of choice.
Edit: Just received confirmation that Turnkey still accepts US clients but only accepts Bitcoin and Ethereum for deposits and withdrawals. I don’t think I want to get involved with that right now. I don’t need more speculation on speculation!!
So this has my potential broker choice as Oanda, IG Markets US, LMFX.
the two benefits with LMFX:
tighter spreads ( as a long term/swing trader may be a non-issue)
the margin required to open a position would be drastically reduced. ( this could be an issue as my initial deposit will be less than originally anticipated.)
Edit: Trades continue into positive territory taking profit.