Definitely not revenge…but what you just mention about what the journal maybe what I need. Sometimes, my mind tell me leave the position now, but because I’m following the trading plan i always decide to stay… maybe it is time to listen to myself, maybe that’s why I was doing so good in demo because i didnt mind to close with a lost in orden to take the opposite direction and make some pips…Thank you a lot for your advise mate
Really? What broker are you in? And are they offering paypal or skrill deposit?
A great way to pick a strategy in case you don’t wanna develop or invent one, just pick the worst one, I mean that one people does not like to try. Obviously without propper risk management will be as bad as people say.
I would suggest starting of with EMA set at 20 and 50 - RSI or Stochastics and watching price action.
The japanese candlestick will help you and looking for support and resistance.
BabyPips is the best free education tool out there. I went on a course 3 years ago but they have taught me that course and more in an easily digestible manner.
Once you found your strategy that works only use that strategy and do not trade too often. Maybe set up a second demo and treat your first demo like a live. The pros do not trade a lot but they know what they are looking for and once they see it they go for it.
I would go with/ recommend Currency Analysis,Price action, and A day trading strategy.
if you are really willing to learn trading, i suggest that you dont start with indicators. study price action , candles, and fundamentals
I have found support and resistance in 4 hour and up time frames to be quite accurate. It gives me a heads up that price may turn, and if the candle action is held and pushed back, control is reversing. Very simplistic approach is forex4noobs.com
i would like to suggest a trendline… you can use the trendline on h4 as a trend direction. for trading, you opt to h1 and use the trendline for breakout entry…
ps: feel free to sneak a pip my profile
Trading in a planned way.
Learning fund management.
Learn trading psychology.
Trading during the period of maximum market movement.
Learning Trend Trading.
Learn to find support resistance.
Learn about price behavior.
Learn trading signal patterns.
Finally, form their own trading system.
Well usually most newbies start from S/R lines they are easy to use&intuitive but of course they are highly biased since you can’t determine them exactly. High at 5M timeframe can be a short-term rebound on 15M and general trend on it can be dovish. That’s why you have to position trades correctly, like if you trade on 5M your trades should be closed within the interval of 5 minutes.