Friday, December 7, 2012

Profit In Forex

The green at the bottom of the screen means that I reached my expected profit level. I ended up with 7 wins that doubled my stop loss so would mean a 4% increase of profit for each trade I made and 3 losses for a loss of two 2% each. Overall, it would hypothetically mean a 22% growth of my balance. My target goal is averaging 20% of growth each month in my account.

I am still testing out the waters and figuring out the kinks of my preferred methods of trading and looking into what these tools could offer me. So far, it's looked pretty promising for me. I have dropped down the third chart to a 30 minute and just look for a moving average crossover to confirm a decent push or rally. I think the third chart is the least meaningful for me but I paid a lot of money for those, so I'm going to stick with it and learn how to use it to maximize my profit. It's pretty much like my security blanket I'm always going to take with me wherever I go in my Forex trading career.

I'm pretty excited about making trades everyday and still this is just a demo account. I'm just enjoying how to be a profitable trader and do it consistently. I am now incorporating trailing stops permanently to my trading repertoire.