Ok here we go, I'm new to forex trading and planning to move to real money soon (just small money but to make it realistic). Basic money management: I start with $5000 and will not risk more than 2% in any trade. I'm explaining my thoughs for entering into the trades, please explain if something is fundamentally wrong or something that can just never be profitable, have a ball, i'm ready for crit because I basically know nothing. Also look at how I change stop loss and take profit levels. Trade 1: EUR/USD long at 1.3680 for 40,000 units with initial stoploss at 1.3657 (a support level in the upward channel) [23 pips] and take profit level to be determined later. Reason for entering the trade just following the upward trend channel on the 5min graph. Trade 2: Limit order to sell USD/JPY if it reaches 117.96 for 50000 units with initial stoploss at 118.18 [22pips] and take profit to be adjusted. The level has been supported 3 times and it it breaks I expect good downside.