Friday, January 07, 2011 10:03:17 AM
Hi joanneg,
The holidays were fantastic. I got my butt kicked in Forex for a couple months before I had my "ahhh haaaa" moment. I realized that Forex doesn't trade like stocks or ETFs, it is a beast of its own to be conquered. I now draw trendlines all over my charts, and don't enter trades unless I feel almost completely confident. I also only trade on the 3 hr chart with only 1/3 of my available cash and use stop losses and take profits. (I can manually override them if I'm watching and see something interesting.) I place limit orders before I go to bed, and 8 out of 10 times wake up to a profit. I've more then doubled my $$ in a little less then two weeks since I've been sticking to my strict rules.
Best of success to you.
The holidays were fantastic. I got my butt kicked in Forex for a couple months before I had my "ahhh haaaa" moment. I realized that Forex doesn't trade like stocks or ETFs, it is a beast of its own to be conquered. I now draw trendlines all over my charts, and don't enter trades unless I feel almost completely confident. I also only trade on the 3 hr chart with only 1/3 of my available cash and use stop losses and take profits. (I can manually override them if I'm watching and see something interesting.) I place limit orders before I go to bed, and 8 out of 10 times wake up to a profit. I've more then doubled my $$ in a little less then two weeks since I've been sticking to my strict rules.
Best of success to you.
Please don't buy/sell based on my posts, they are simply my opinions.
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