Tuesday, August 20, 2013

Forex Trading Update


I am running two monitors right now on a 23" Dell All-In-One PC. It has turned out to be quite useful on my trading career journey. Right now, I am mainly focusing on trading breakouts of tops and bottoms, Fibonacci retracements, and divergences. It isn't taking me that long to analyze and manage trades each day, possibly about just ten minutes. 

It's taking me longer to figure things out though because I'm still new and learning, but I've pretty much narrowed down to a simple set-and-go trading style with some interesting and strong strategies to test out. It makes a lot of sense to me now to try out the systems I've narrowed down to because it really is based on my own personal preference. 

What's so great about managing trades as a business is that if it goes really well, you can invest in more capital and the earnings can compound in growth each month. What I mean is that, if you start from $10,000 capital and keep growing the account by 20% each month then by the end of next two years, you'll be on your way to over a 500,000 dollars!