Trading will be carried out using a mixture of RSI and Momentum to trade the reversal. TP will be based roughly off resistance levels.
I’ve been trading in total for about 2 months and live trading for about 1.
Made some big losses in the first week as I was impulse trading. I’ve since started following a new system that’s been working very well for me.
I work from home full time and have MetaTrader open on a 3rd monitor so I can constantly monitor
Here’s the MT report from opening the account. You can see where I started following the new system after impulse trading initially with improper SL
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Welcome to the forum @andyeyking
Is your equity also up now, or only your balance?
It’s great you can work full time from home and still monitor your trades. I think that’s an ideal setup to learn without the pressure of having to make your income from trading alone.
It can be very easy to sit there staring at charts willing something to happen so try not to fall into that trap.
I’m +£31 on my starting balance. Trades are usually less then 2 hours so all profit is realised. I did have 1 trade overnight that was in profit but that was purely so I understood swap works.
Having a stable income really takes the pressure off. Especially when my initial input is only £200 that would overwise sit in an ISA
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Luckily my job is fairly involved. The indicators I use have audible alarms when they trigger so I’m not spending a great deal of time watching and babysitting.
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Nice little shot of what my indicator looks like. Green indicators at the bottom are automatically drawn in.
Missed the low reversal as I was out of the room. Took the reversal at the top for 4 pips. I prefer multiple smaller than 1 longer.
If it is real, it is really praiseworthy. Keep it up dude.
Ah best way! Can drive you mad staring at the screens and it’s such a waste of life when you can use audio triggers as you say!
Friday has always been a quiet day for this system due to Fridays been less volatile in general. Work was busy as well so I had to leave some signals unchecked. Still took 7.9 pips
The volatility chart via MarketMilk shows this perfectly
Monday is probably going to be a good day to look at USD pairs now that the final states have called there respective election results.
After spending the best part of 2 weeks trying to get out of bed and failing due to getting kicked to the curb by covid I’m finally able to sit up without feeling fatigued.
Still on sick with work so in between counting my blessings I’ve done a little trading today.
Fairly good day, no monster moves but a good day nonetheless.
that’s interesting - How are the spreads affecting your returns - ie what is the spread on these prices ?
The account I’m trading on is 0 spread, instead I pay commission on each trade. Factoring in the commission it works out around .7 and I very rarely get any slippage at all.
