Hello again everyone. I've only commented here and there in the major currency threads but I decided to make myself more open and known on this forum. Undoubtedly most of the people here are simply rookies trying to squeeze any information they can out of the pros, and I'd be lying if I said I wasn't here too for self gain. So I decided to post my own personal strategy for making it to full time with 2 hopes; 1) That seasoned traders will critique my strategy and make me a better trader and 2) Rookie traders can learn something and maybe even make it big with the help of my experience.
I got started in the currency markets about a year ago. Luckily I started with small money because I was quickly losing a large percentage of my small account. I refused for months to apply a mathematical formula to success. Refused to make rules for myself. When I saw an opportunity (which as a naive rookie trader, all I saw was opportunity) I would try and take it for all it was worth. It was either slam dunk trades, or major losses. I grew out of that, and have been experimenting with disciplined trading plans ever since.
I don't think it would be too beneficial to dwell on my mistakes from the past, but rather focus on what's been working. Just recently I started keeping detailed information of my trades.
Attachment
This strategy is simple. Focused on maintaining a higher gain per win than loss per failed trade, while maintaining above 50% win ratio. I am considering trading less to improve my win percentage, however because of my tight stops it seems higher frequency might mean more gains.
Absolutely look forward to some feedback. As I have the time, I will get more detailed as far as how I trade. My next post will be about how I plan to take this full time.
Happy pippin'
I got started in the currency markets about a year ago. Luckily I started with small money because I was quickly losing a large percentage of my small account. I refused for months to apply a mathematical formula to success. Refused to make rules for myself. When I saw an opportunity (which as a naive rookie trader, all I saw was opportunity) I would try and take it for all it was worth. It was either slam dunk trades, or major losses. I grew out of that, and have been experimenting with disciplined trading plans ever since.
I don't think it would be too beneficial to dwell on my mistakes from the past, but rather focus on what's been working. Just recently I started keeping detailed information of my trades.
Attachment
This strategy is simple. Focused on maintaining a higher gain per win than loss per failed trade, while maintaining above 50% win ratio. I am considering trading less to improve my win percentage, however because of my tight stops it seems higher frequency might mean more gains.
Absolutely look forward to some feedback. As I have the time, I will get more detailed as far as how I trade. My next post will be about how I plan to take this full time.
Happy pippin'