I have pretty much upgraded my list of tools that I use. When it comes to trading, it really comes down to learning how to be a successful trader and there are many building blocks that need to take place before it can happen. Along with it being incredibly risky in the beginning, getting into the field of trading currency can be very intimidating. Let alone, 90% of new traders end up losing more money than they gain which is something to think about.
I've pretty much stuck to having my account managed by a pretty successful trader and did end up profiting but I wasn't fully happy with the result. Therefore, on and off, I kept on figuring out new methods to game this system and I've finally come up with a pretty accurate depiction recently.
The major factors to look out for is placing proper stop loss with decent money management, trading with a trend, and recognizing systematic patterns that become lucrative. The tools I have acquired do a lot of the automated recognition for me because I don't really have the skill to do so; therefore, I rely on some reliable tools to generate findings for me. The next step would be for me to set the proper stop loss and confirm a strong signal. I've turned into a swing / position trader after being a day trader for quite some time; it was really taxing on my full time work schedule, but I really do enjoy this possibility of building residual income and just managing trades only minutes per day.
