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seo20 - starting to trade forex like a boss ;-)

Discussion in 'My Journey Discussions' started by SEO20, Feb 28, 2013.

  1. SEO20

    SEO20 Elite Member

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    Mjelloooooooo

    Never created a journey discussion before but could be fun to document how far I can take this trading business :)
    I am totally green into trading - so don't judge.

    I only do this for fun but believe that if I follow some combined indicators I can make a good profit daily.

    Will primary trade EUR/USD and GOLD. I use the etoro platform because it's simple and got the indicators I will use.

    Will post what I buy and sell - what the gain or loss is in %.

    OK - let's see how it goes.
     
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  2. loclhero

    loclhero Supreme Member

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    My investments are strictly equities, IRA's, 401k's, and options etc that I can't really touch but have always kicked around the idea of playing with some trading.
    How much did you start with and basically HOW do you get started?
     
  3. SEO20

    SEO20 Elite Member

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    BUY EUR/USD - Open 1.3057


    Market seems to be going up (I hope).
    RSI was just below 30.
     
  4. SEO20

    SEO20 Elite Member

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    Just got started last week or so to read about it. Fascinated about the whole business.
    How much I invest is not important I think as these things scale.

     
  5. wasted

    wasted Jr. Executive VIP

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    seo20,

    How much you invest, leverage, products, etc, is extremely important because it plays on the psychosis of your human nature.

    Trading a mini account where 1 pip = $1.00 is a lot different then trading a standard account where 1 pip = $10.00
    From 7 years experience....

    It is really common to see a trade first start off a handful of pips against you, what is your psych going to tell you when your down $140 compared to being down $14 or even on micro $1.40.
     
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  6. SEO20

    SEO20 Elite Member

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    I know - but I don't want to disclose it here :)

     
  7. WeBlack

    WeBlack BANNED BANNED

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    3 years, that's the time i spent to learn and work on forex, very difficult world... Good luck.
     
  8. SEO20

    SEO20 Elite Member

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    Any golden tips - besides sticking with your plan?

     
  9. trustedfire9

    trustedfire9 Jr. VIP Jr. VIP Premium Member

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    good luck if want help with forex leave me a message on skype .....
     
  10. petrovski

    petrovski Regular Member

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    Mate, you should be posting in another forum related to FOREX. You will get a shit load of information and advice.

    RSI is a lagging indicator, you can not trade based on indicators alone. You need to learn about, price action, support and resistance, candle stick patterns... You will need to learn about pips, time frames there is to much to go into here, but man FOREX is great and you can really make a good full time living, but it can also KILL your finances if you do not know how to trade.

    PM if you want some info on great forums to get into and learn from.
     
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  11. SEO20

    SEO20 Elite Member

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    Thanks - I am mainly doing this to keep me focused.
    There are tons of forums - tons of indicators and theory. Have my own little simple method that I want to test out - let's see how it goes.

    Worst thing that could happen is that I fail and you can enjoy reading about it :)

     
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  12. WeBlack

    WeBlack BANNED BANNED

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    Really i can help you only tell you that every trader has is own method, trade M5 or H4 depend on your life, your free time, or what you prefer. My better advice will be to begin small because markets makers are reality, always put stop loss, bots does not works etc etc...

    You must learn by yourself, i can help you giving you some greats websites and greats methods, but every trader will have differents results from every method. Work hard and give it some nights if you really want to become succesfull in forex.

    One golden tip will be, if you find a good system, try like IM to make it work, don't try another system again and again, make it simple and be disciplined, again always use stop loss and good money management are the keys.
     
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  13. SEO20

    SEO20 Elite Member

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    Thanks man - rep+
     
  14. petrovski

    petrovski Regular Member

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    Yeah true, well best of luck to ya! hehe...:1244:
     
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  15. MadMaddy

    MadMaddy Junior Member

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    I'd be following this journey closely

    Good Luck buddy
     
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  16. SEO20

    SEO20 Elite Member

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    I have set a "take profit limit" to 1.3067 and a "stop loss limit" to 1.3035

    Will hit my bed now. Update tomorrow.
     
  17. SEO20

    SEO20 Elite Member

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    Just before signing out I sold it.

    Gained 8% - Closed it at 1.3064
     
  18. SEO20

    SEO20 Elite Member

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    Made another 8% gain... started an aggressive risk buy now.
     
  19. SEO20

    SEO20 Elite Member

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    On the previous buy I made a support buy - sold them both at 8 and 12% gain.
     
  20. simond1130

    simond1130 Newbie

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    Nice profit!