My Money Making System With Forex

I think I've finally figured out how to trade Forex profitably. I've been doing it for awhile now and by just testing out strategies that I'm mainly comfortable with, I've finally compiled a complete system based on using ideas and techniques I've learned off of other successful traders. For the most part, I'm going to be using terminology probably most of my readers don't even know about. Anyway, I'm writing this post for myself and if anyone is interested, I'm okay with continuing any discussion they want to think of regarding Forex.

My main system is pretty much entering the market when price bounces or crosses over some moving averages after it breaks out support or resistance. I have both a short term or long term system but they both stick to the day chart. I've also added in the useful harmonic patterns to trade counter trends seamlessly and avoid slowing down markets. My main money maker is the all-useful fibonacci retracement tool- it's a real worker when calculating some reasonable stop losses and what I could expect to gain for profit. For the most part, my trades are set to win at least 1 to 2 risk to reward ratio or until it crosses on the opposite side of a price moving average. On a nut shell, I increase my chances of profitting if I set up a break even trade after a day of trading. Because I don't really want to spend that much time on Forex even though I could probably profit a lot more from watching it all the time, I want to enjoy some freedom to do other things. That is why trading on the day time frame using my break out system seems to be the best and most enjoyable for me. I only need to spend the most at like thirty minutes. It was hard at first to trade because I wanted to always be in and make money, but I've found that being patient and making these timely trades is more efficient for growing my account and letting it sustain me financially.

I've also been fortunate to find an automated trading robot which does hedging for me on the EUR/USD pair. I believe that the EUR/USD is the best pair to consistently trade and has the best opportunity for profitting. I'm also currently running some managed accounts on demo too, just to see how they perform with some human interpretation at work. Overall, I'm going to continuing gathering some useful data of my trading habits for about a year before I invest $25,000 into this market. It's probably going to be really fun and interesting to see what happens for me. I use a rule where I never trade beyond 2% of my account and to allow a good trade to ride and continue making as much pips as possible. I could probably see a nice ROI for myself sooner or later while only investing a little of my time each day.