a couple years ago ,i remembered i had learned in hard way from the market. as newbie i am too brave with forex trading without proper knowledge, i opened a trading account and lost around $20K , it is hurt me a lot and put me in traumatic state. need one year or more so i can recovered my mental state.,and learned anything about forex trading Today i started to trade again and opened a new account with one simple objective. Trying to survive with minimal funds. so deposit around $50 and for broker i use tickmill because they are suitable for my needs, they have low minimum deposit For trading system i try to trade with price actions and EMAs, FXBlue Trading Account Publisher This Week High Impact News Time using GMT+7 opened 2 trades, Sell EURAUD and sell EURNZD Sell EURAUD Sell EURNZD
What is your sample size of the method back tested? What is your MAE? What is your drawdowns, What is ave swing for time periods you are trading as ever hour the swing aves different amounts? What is best hours to trade Forex as each country has best hours. If you are a newbie still, I would not recommend using an RSI unless you become an expert in reading charting, most new traders this TA is the way to go, but unless you get to expert status in chart reading, indicators such as RSI makes it very difficult to understand, it s not just reading charts but knowing what the RSI should display when price does something, you need to know this like breathing, I am not saying RSI is useless, but after you see price structures for 10,000 hours, you can read divergences without oscillators. I would use one sma, low is better than fast moving averages as it forces you to wait for deeper retracements, faster moving averages are gears more for scalping handful of ticks or a trader who has developed into expert chart reader. Instead of trading, I would advise sim trading and when you can be profitable 19 of 20 days three times, then you ready to compete against the best in the business, otherwise that $50 will be gone.
Forgive my boldness - but obviously not Get on SIM..., get it figured out (where you're consistently profitable using a reasonable approach/ methodology - with damn good risk management..., and I do mean damn good) - then go live or not RN
busy all days, and just updated my journal after i finished all my business thing opened Sell GBPJPY dan Sell GBPUSD Closed with profit and after some drawdowns with my account in 8 days, finally i can banking some nice profit into my wallet now i am Breakeven and in profit Requested $45 WD +$45 at 20.30 GMT+7 Recieved 20.42 in same day. my target : to WD $1000 from $50 is it possible?dunno, let us see, how long i can maintain my trading account. and consistantly banking some profits into my wallet
i just can say thx for your advice my sample size ? well, i had forward tested this trading system with 1:2 RR , few years ago, and i can make nice profit if i were patient. waiting the best signals. and few years ago i can hold my trade up to 2 weeks. which is i can not do it right now. average trade durations : dunno. maybe 2hours to 1 day? about RSI, well i learned from my guru/ mentor, and he even teach me how to calculated RSI abnormality and combine it with the chart it self. but to be honest, i am not even mastered this RSI. anyway thx for your advice, and $50 is my risk
thx for your advice, it is reasonable approach because i learn this strategy for around 1 year. but i do not recieve the full lesson, because my mentor passed away befor he gave me all of his lessons
i starts my day with opened trades for several pairs Sell USDCHF @ 0.98823 SL @ 0.99073 TP @0.98190 Sell Stop USDCHF @ 0.98573 SL @ 0.98823 TP @ 0.98190 Sell AUDCAD @ 0.98449 SL @ 0.98849 TP @ 0.97449 Sell stop AUDCAD @ 0.98049 SL @ 0.98449 TP @ 0.97449 Sell EURAUD @ 1.57448 SL @ 1.57848 TP @ 1.54314 Sell stop EURAUD @ 1.56813 SL @ 1.57448 TP @ 1.54314 Reason : not bad. got good spreads when i entered this 3 trades
My fokus today is CADJPY, to find out the best price to buy CADJPY Spoiler My reason why i decide to buy CADJPY 1. W pattern 2.RSI Divergence And if we compare USDCAD and CADJPY , why i buy CADJPY because few days ago, USDCAD had strong bearish trend , Spoiler and tonight we have crude oil inventories news and as far as i know , OIL and CAD have strong correlation