Forex – System, Money Management, Psychological

8 03 2008

(talking about system)
i am learning now that you must focus on one currency pair only,
EUR/USD seems to have the least spread and the most actively traded.

and watch 3 time frames to view the micro, medium and large picture of the
market. im using 15mins, 1hr and 4 hours…

i had an advantage here on my location (GMT+3) to track EUR/US since the
US and London traders are starting barely on at later half of my working hours.
good for me so as to stay wide awake and focused,

and which oscillators are you using as filters? i use Bollinger, EMA,
Stochastics and RSI.

i had requested my account reset into mini account, base of $100/10k lot,
200:1 leverage. so i can get to feel the real flow of a real amount i
intend to start with.

i limit my initial push to 1 lot only, i had seen that you can easily be wiped out
and issued a margin call due to this leverage thingy, 200:1. and that costs bigtime
on small trading capital

on actual i’ll try to put 2K so i am exposing 5% of capital on initial 1 lot(10K) trade. a missed move shall eat up only 5% of total…and im sure you’ll be very much aware already of the wrong move so as to clik quit b4 your initial push is lost, this is were the stop loss control gets handy.

i’ll try to add up extra lots if my initial move is on positive side and as
advised by a professional gambler, throw all in if 99.99% sure of a winning move,
so that is how i intend planning my money management.

*********
on the psychological side… well that is a big hurdle that still need to be
dealt with… more on this to follow.


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8 03 2008
Sue Massey

I found your site on google blog search and read a few of your other posts. Keep up the good work. Just added your RSS feed to my feed reader. Look forward to reading more from you.

– Sue.

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