I can't tell you how much it I love to hear of others achieving in forex, especially as it is not a market that a person can lie to people to get ahead, i.e. shares.
Keep up the good work, let me know how you progress. :)
Pretend3R, As i've discussed with others you need to define your own strategy, look at the long term. Read heaps of charting books and keep up to date with the news...and most importantly, practice practice practice on a demo account before live trading!!!
Just for your own informaton on my trading last nite, it was a bit of a fight for me, i went against some of my rules to increase the size of my position without taking into account the margin well enough. This was a big mistake for me. It's another rule I need to be more aggresive at to ensure I don't have positions closed out on margin.
My trades for the nite are as follows:
Order 1: Lots: 1 Short: .8294 Close: .8331 Profit: -37 - closed, bad entry
Order 2: Lots: 1 Short: .8241 Close: .8105 Profit: 136
Order 3: Lots: 1 Short: .8208 Close: .8104 Profit: 104
Order 4: Lots: 2 Short: .8181 Close: .8218 Profit: -37 x 2 = -74 - margin call
Order 5: Lots: 2 Short: .8172 Close: .8225 Profit: -53 x 2 = -106 - margin call
Order 6: Lots: 2 Short: .8200 Close: .8103 Profit: 97 x 2 = 194
Order 7: Lots: 2 Short: .8171 Close: .8255 Profit: -84 x 2 = -168 - stop loss
Total: LotsTraded: 11 Lost pips: -385 Won pips: 434 Profit: 49 pips
Hyperthetical count due to margin and bad entry: - Close at minimal pip count closures, .8105
So for all you new traders, you can see how a small rule that was not kept has cost me 972 pips profit...but don't dwell on the negative, I ended the nite with 49 pips profit! However, such is life, keep trading, don't make it emotional!
