Hi there, I am a relatively new trader, having started in equities in July 2018, where I made a brief profit before switching to FX in September. Since then I have lost approximately half of my equity when I first started, but have begun anew. While I had previously managed to not absolutely decimate my account in these past 5 or 6 months, I recently had a bad streak after having my most profitable month ever. This thread is an attempt to help me keep on track so I don't overtrade and make sure I am following my trading rules.
I have found some success in short term trading, but honestly I always manage to screw it up with my greed. If I trade small and over long periods of time, I have learned to hedge well enough to manage my losses without a stop. See why I struggle short term? Lol. Anyways, my system is to follow interest rates and check crosses on my favorite currencies. They are USD, GBP, EUR, and CHF. These 4 allow me to cross check and almost always have a trade available to me. My whole goal is to buy the cheap and sell the expensive. My analysis will entail me checking other important markets including PMs, Bond, and Equities markets through my favorite free conglomerate, MarketWatch. Eventually I may trade some PMs, but currently I do not have the account size to do so, even though Silver is making a break for 20 and I could just barely enter the market since it is so affordable. If you would like to join me daily, I will make a post ranking those 4 currencies, and give an outlook on the trends I am observing. I find my weekly and daily predictions tend to be about 80% correct, but hourly trends are the bane of my existence. I am including my trade explorer so that I can keep myself honest with my gains and losses, as well as possibly offer trade signals to anyone who might care to join me. I am always open to suggestions, but beware that I reserve the right to my opinion, as do you. Thanks, and I hope everybody is ready to make 300-800% per year! I am looking forward to a couple of purchases I have wanted to make all of my life! Rags to riches!
I have found some success in short term trading, but honestly I always manage to screw it up with my greed. If I trade small and over long periods of time, I have learned to hedge well enough to manage my losses without a stop. See why I struggle short term? Lol. Anyways, my system is to follow interest rates and check crosses on my favorite currencies. They are USD, GBP, EUR, and CHF. These 4 allow me to cross check and almost always have a trade available to me. My whole goal is to buy the cheap and sell the expensive. My analysis will entail me checking other important markets including PMs, Bond, and Equities markets through my favorite free conglomerate, MarketWatch. Eventually I may trade some PMs, but currently I do not have the account size to do so, even though Silver is making a break for 20 and I could just barely enter the market since it is so affordable. If you would like to join me daily, I will make a post ranking those 4 currencies, and give an outlook on the trends I am observing. I find my weekly and daily predictions tend to be about 80% correct, but hourly trends are the bane of my existence. I am including my trade explorer so that I can keep myself honest with my gains and losses, as well as possibly offer trade signals to anyone who might care to join me. I am always open to suggestions, but beware that I reserve the right to my opinion, as do you. Thanks, and I hope everybody is ready to make 300-800% per year! I am looking forward to a couple of purchases I have wanted to make all of my life! Rags to riches!