The image above is an example of a profitable demo trade I made to test my theories and ideas. Basically, I noticed that the market was on a down trend and by drawing Fibonacci levels accordingly, I observed that a bearish candlestick might be causing a reversal to the small uptrend during my entry. After entering, during the next candle which I have circled, it hit my target profit which was a huge bearish candle!
Overall, I'm really enjoying this set and go style because I wasn't at my computer the whole time the trading platform made the profitable trade. I was actually at work, so I just put in a trailing stop at a 1 to 1 risk reward ratio to protect a good trade for me. Other factors that encouraged me to try this trade out was that it also looked like the market was currently at a resistance level. Also, the trend line I drew looked to have been broken by a bearish candle, so I was like let's enter to see what happens.
My target profit was a 1 to 2 risk reward, so I made profit that would support the idea of breaking even being correct 33% of the time. I want to try out trades by only keeping a simple 1 to 1 RR ratio trailing stop and then see if my trades ride out to capture some more profit! It's been really fun and enjoyable for me and I can totally see this field you have to be knowledgeable in becoming a reality for me someday.
My trading style isn't so keen on using EMAs anymore, even though it is a popular method. I'm just sticking to trading with divergences, support/resistance levels, Fibonacci levels, candlestick patterns, trend lines, and checking the news whenever I can. I'm basically reviewing all that I know pretty often as I can to solidify a strong basis of becoming a professional Forex trader. I can see it being a very rewarding career and a huge blessing to my preferences of a life style.
