A few thoughts and maybe some help from the group.
First off, I'm very impressed with the knowledge of the folks here and the links provided to learn about the FX market. Thanks for having me. I have a mini account as well as a practice one and I'm trying out different strategies to see if they are worth following.
Due to job commitments, I can only trade from the hours of 1800 to 2000 cst from the Sunday to the Thursday, which is the Far East market. I've been practicing on the GBP/USD and the USD/JPY. I also try to to look at the news concerning anything that may move the currency up or down - unemployment, farm, interst rates, etc...
Also, since the time is short for trading, I try to take all the emotion out of the trade by focusing on the technicals - MACD, RSI, and EMA on the 5 minute chart. I've found decent success with that aspect of trading on the practice account and would like to concentrate on just the technicals. And also found out how to profit from a falling currency as well.
My goal is to get maybe 20+ pips during my trading time frame if I can.
So, my questions to the group are - are the currencies I'm looking at will get that 20+ pip target? Are the technicals I'm looking at the right ones to focus on?
A final note - I'm glad I found this market and the board as everyone can make a good amount of money if they are wise and careful, which I try to be in investing.
Thanks for your help.