After testing platform, learning to trade and moving to a trading course (OTA in London) the last 4 months it is time to take the step and start to exchange for the real $$. I set up the account here so that I can learn even more and discuss my measures, ideas and trades. I hope to learn more and to check what I did wrong or right.
What I've learned so far is to select a good pair and find out about it. Make this your pair to trade. I will trade EURUSD. In my trading plan I set the following principles to exchange a 30 pip profit by entering at the ideal time (looking at support, resistance, pair history, pivot...) and never risk more then the 1/3 risk reward ratio. After 4 minutes I need to be in profit, otherwise it was a lousy trade and I'll be outside before the 10 pips risk is filled.
This will not be the only way I use, however in the time the most important one. After the support and resistance is clear enough and the indiions for the trade are looking good I might require a longer trade and trail it.
I will also look in the EURGBP. I will use this pair when I can't find a good entrance for the EURUSD on the afternoon I'm trading.
That I will try to exchange on Technicals. Will look at the fundamentals but when mayor news proves will not be trading to prevent a huge movement and loss in case the news could activate a huge movement (from another direction)
that I am likely to trade with the SAXO bank trading platform.
Thanks for looking here in my first article. Looking forwards hearing from all of you on the board.