Hello,
I got +5 years market (not just fx) experience, very good technical knowledge. (no trade demo/live experience until this year. - I've read countless books about FX, money management etc. - been interested for about 10 years)
(I got a day job in an investment company, I am doing equity research/analysis but I'm not a trader)
My first live account grew from $1.000 to $5.000 in a week, but due to GREED and bad money management I failed.
I may seem that I overtrade but I don't:
Trade Explorer: (Demo for now)
http://www.forexfactory.com/openyoureyes#95-overview
Account age: 8 days
Strategy:
- I don't seek perfect entries / waiting is wrong in this strategy. I HAVE TO BE IN THE GAME.
- Never ignore news
- Fundemental > Technical
- Don't trade rumors
- News trade is OK (no news trade on XAU/USD - XAG/USD)
- ALWAYS STAY IN THE TRADE NO MATTER WHAT.
- DON'T OVERTRADE.
- NO GREED.
- BABY STEPS.
- TRY TO WITHDRAW MONEY (prove yourself that this is not gambling)
Strategy:
Spot overbought / oversold currencies in Daily (very important) graphs, double check in weeklies.
Determine the trend.
Mark support / resistances.
Switch to 4H check if the daily trend continues.
Switch to 1H determine entrance point / exit expectation.
(Switch to 30 min, determine best price)
Money Management:
Lots:
0.5 lot per $1000 (total max trade count: 20 x 0.05 // non-aggressive: 10 x 0.05)
Follow trend; if a trade is green and moved 40-50 pips than open new trade in the same direction: if moves green 10-20 pips, close the trade.
Currencies / Pairs:
All pairs except: CHF pairs, awkward crosses (sgd/jpy)
Average Trade Time:
If green: let it run not less than 1H, until trend reversal mostly 48H-72H
If see sign of reversal in opposite direction of my trade: try to carry it.
Indicators:
Main Chart:
DEMA_RLH (entry)
HMA_Russian_Color (entry)
Quickfib
SlidingChannels Mtf
Others:
The 80's Heiken 1 Hour (entry, important one)
GG-RSI-CCI (confirmation)
Figurelli Series (I don't rely on this one very much)
Rapid QQE - mtf (this one is very important, it's a rapid smoothed RSI)
Trix (for confirmation mostly)
Volume (for confirmation)
Rapid MACD (for confirmation)
Retracement Finder (I don't rely on this one very much)
I got +5 years market (not just fx) experience, very good technical knowledge. (no trade demo/live experience until this year. - I've read countless books about FX, money management etc. - been interested for about 10 years)
(I got a day job in an investment company, I am doing equity research/analysis but I'm not a trader)
My first live account grew from $1.000 to $5.000 in a week, but due to GREED and bad money management I failed.
I may seem that I overtrade but I don't:
Trade Explorer: (Demo for now)
http://www.forexfactory.com/openyoureyes#95-overview
Account age: 8 days
Strategy:
- I don't seek perfect entries / waiting is wrong in this strategy. I HAVE TO BE IN THE GAME.
- Never ignore news
- Fundemental > Technical
- Don't trade rumors
- News trade is OK (no news trade on XAU/USD - XAG/USD)
- ALWAYS STAY IN THE TRADE NO MATTER WHAT.
- DON'T OVERTRADE.
- NO GREED.
- BABY STEPS.
- TRY TO WITHDRAW MONEY (prove yourself that this is not gambling)
Strategy:
Spot overbought / oversold currencies in Daily (very important) graphs, double check in weeklies.
Determine the trend.
Mark support / resistances.
Switch to 4H check if the daily trend continues.
Switch to 1H determine entrance point / exit expectation.
(Switch to 30 min, determine best price)
Money Management:
Lots:
0.5 lot per $1000 (total max trade count: 20 x 0.05 // non-aggressive: 10 x 0.05)
Follow trend; if a trade is green and moved 40-50 pips than open new trade in the same direction: if moves green 10-20 pips, close the trade.
Currencies / Pairs:
All pairs except: CHF pairs, awkward crosses (sgd/jpy)
Average Trade Time:
If green: let it run not less than 1H, until trend reversal mostly 48H-72H
If see sign of reversal in opposite direction of my trade: try to carry it.
Indicators:
Main Chart:
DEMA_RLH (entry)
HMA_Russian_Color (entry)
Quickfib
SlidingChannels Mtf
Others:
The 80's Heiken 1 Hour (entry, important one)
GG-RSI-CCI (confirmation)
Figurelli Series (I don't rely on this one very much)
Rapid QQE - mtf (this one is very important, it's a rapid smoothed RSI)
Trix (for confirmation mostly)
Volume (for confirmation)
Rapid MACD (for confirmation)
Retracement Finder (I don't rely on this one very much)