Hi All
I have been on this forum for quite a while and have contributed here and there in various threads. I consider myself an intermediate level trader and before getting here (and there is still a looooooooot to learn) I have blown many accounts. Many imploded so quickly like when old tower blocks were brought down by explosives to make way for the new.
We are not going to go into the basics of Forex trading on this thread. Needless to say if done well it is very profitable. The challenge for a lot of people is that it takes time to get to a proficient stage that you can quit the day job. Some people even don't want to quit their day job! (they enjoy it!). The forex cake is for everyone. How do we get our piece while having a full time job?
Three ways come to mind:
Trade longer time-frames i.e the daily time-frame
Trade markets in a different timezone when you get back from work
Trade using a profitable EA
I have decided to focus on point 1 and I am concerning myself with searching out, adopting, adapting and utilizing strategies based on the daily charts. I am knowledgeable in basic candlesticks patterns and use traditional indicators like
Moving Averages, Stochastics, MACD and RSI.
I aim to use this thread to document my trading for accountability reasons.
Dec 31 2010 is as good a day to start recording for the new year
You can help this thread by uploading strategies for daily charts, Contributing your own trades based on daily charts etc.
Many Thanks
Olu
I have been on this forum for quite a while and have contributed here and there in various threads. I consider myself an intermediate level trader and before getting here (and there is still a looooooooot to learn) I have blown many accounts. Many imploded so quickly like when old tower blocks were brought down by explosives to make way for the new.
We are not going to go into the basics of Forex trading on this thread. Needless to say if done well it is very profitable. The challenge for a lot of people is that it takes time to get to a proficient stage that you can quit the day job. Some people even don't want to quit their day job! (they enjoy it!). The forex cake is for everyone. How do we get our piece while having a full time job?
Three ways come to mind:
Trade longer time-frames i.e the daily time-frame
Trade markets in a different timezone when you get back from work
Trade using a profitable EA
I have decided to focus on point 1 and I am concerning myself with searching out, adopting, adapting and utilizing strategies based on the daily charts. I am knowledgeable in basic candlesticks patterns and use traditional indicators like
Moving Averages, Stochastics, MACD and RSI.
I aim to use this thread to document my trading for accountability reasons.
Dec 31 2010 is as good a day to start recording for the new year
You can help this thread by uploading strategies for daily charts, Contributing your own trades based on daily charts etc.
Many Thanks
Olu
Find a trend and milk it for all it is worth. That's how to be profitable