Hi guys, a somewhat experienced forex newbie here. I'm located in houston and am looking to see if anyone was interested in meet and discuss or live forex trade sessions. I have read a lot of the technical analysis books and have been trading off and on over the last three years, while not woundrously successful I have not experienced disastrous failure either.
There is a big piece missing in Forex trading... techniques to use by the small fish. I have seen it said that you need $25000 to have a chance to trade successfully. This can't be true since mini lots are available allowing the same trades offering a proportionate reward and risk to the small cap trader. I am aware that I still lack the 10% that would theoretically allow me to follow the same methods these larger traders use but I am learning to keep my losses under control, and having a loss limit lets me refund and gain on my account balance hopefully adding to my ability as a trader the whole time.
Thus far my problem I believe is not seeing or understanding a method to determine reliable 'Safe' stops. I have seen my general analysis prove correct only to be stopped out for a loss instead of the projected win. This is annoying!
Also I have kept a paper journal off and on , and having finally built my account to round number
(mostly over time rather than trades :frown ) I decided to keep an electronic blog version ( http://sstrader.blogspot.com/
) This will let me post graphs (unlike the journals here AFAICT ) and analysis I can access anywhere and never lose it again. Today I posted my intended trade plan. I will be starting trading on this next week. I welcome any comment or suggestion that should be considered in the trade plan.
Also I would especially like to meet anyone in the houston area willing to share/trade info and experience.
Thanks ttyl
sstrader
There is a big piece missing in Forex trading... techniques to use by the small fish. I have seen it said that you need $25000 to have a chance to trade successfully. This can't be true since mini lots are available allowing the same trades offering a proportionate reward and risk to the small cap trader. I am aware that I still lack the 10% that would theoretically allow me to follow the same methods these larger traders use but I am learning to keep my losses under control, and having a loss limit lets me refund and gain on my account balance hopefully adding to my ability as a trader the whole time.
Thus far my problem I believe is not seeing or understanding a method to determine reliable 'Safe' stops. I have seen my general analysis prove correct only to be stopped out for a loss instead of the projected win. This is annoying!
Also I have kept a paper journal off and on , and having finally built my account to round number
(mostly over time rather than trades :frown ) I decided to keep an electronic blog version ( http://sstrader.blogspot.com/
) This will let me post graphs (unlike the journals here AFAICT ) and analysis I can access anywhere and never lose it again. Today I posted my intended trade plan. I will be starting trading on this next week. I welcome any comment or suggestion that should be considered in the trade plan.
Also I would especially like to meet anyone in the houston area willing to share/trade info and experience.
Thanks ttyl
sstrader
