So let me get this straight. You have been trading on and off and making small profits. So where’s the problem? Perhaps try to stick to a strategy consistently and see if your profits increase. If not, tweak your style and investment type maybe.
Sometimes it's hard to stick with a strategy or system when the drawdown hits. But often it's good for you to evaluate objectively If it's a regime change or statistical blip.
I have been trading intraday mostly, using 4 hour USDGBP trading strategy. I have barely been able to make more than a few cents which is very discouraging and keeps derailing me from moving on with bigger amounts.
To be honest bitcoin has been catching my fancy of late, with its value creating such a buzz, but I see you have put it in your last preference list. Do you think it’s gonna crash anytime soon?
It’s absolutely fine to keep your investment amount small. For almost a year when I first started trading with Etrade I never went beyond 2k, and that too because that was the minimum required in order to avail margin with the broker. Believe me or not, I only traded $200 as my first trade on Fxview. I scanned for brokers that have low or no minimum balance requirements and finally went ahead with them for their low commissions. It takes years to finally have the courage to be able to invest big amounts on any platform.
And I think it is a good place where to be. If you wish to know more about building good strategies, just let me know. I have an experience with trading millions of dollars in a hedge fund for many years by using systematic algo strategies for stocks and futures. I am here for you
I am no way against changing strategies along the way, in fact I agree that constant tweaking is actually necessary. But I have seen many beginners jumping from 1 style of trading to another, which obviously will not benefit.
As far as market entry and exit goes, use indicators to look at the overbought or sold phase and accordingly enter the market. Exit always as per the stop loss level that would be pre decided. If emotions come in your way, use EAs.