Hi. I’m just a newbie, just started exactly last month. I’m from the Philippines.
I just deposited a certain amount into real account, because I believe if you wait too long enough (study too much) you will never get started. I believe that my learning curve can be compounded if you will do the “real thing”.
So, these are my trading patterns. Just the basics:
Support and Resistance
Trends (of course)
Moving Averages (I just set the indicators on moving averages on 10, 20, 50, 70, 100, 150) and someone told me that if all lines “meet” then its time to reverse.
Economic Calendar on investing.com. (but 50% of the indicators were right (just my observation). because in my theory that forecast is now considered “late”.
Timing the market to where markets around the world collide. (Supply and demand)
Then I will pending my order that is set on the assumption where the wave will end and reverse. I will set Take Profit / Cut Loss to another support or resistance (or usually 10 to 15 pips max).
And if I believe it will continue to reach greater than 15 pips, I will initiate a separate pending order. And another pending order if still applicable. The concept is like “rolling” your bankroll in a casino, if you know what I mean.
For a month, I look at my transactions and computed my total pips that I entered. Its 50-50. 50% profited and 50% lost. (my total transaction time elapsed was 50 hours). I loved to record my trade so I can compute it thru excel and learn from my mistakes.
But I lost just a ($20) due to inconsistencies on lot amounts (0.15 average, 0.20, 0.25, sometimes 0.05 on 1:500 leverage). Max profitted is +$150, and lost is -$60. It’s up and downs.
Your opinion for these, please? It will be appreciated. Thanks!