Sunday, December 9, 2012

Trading Update


I'm finding out that I'm only opting to spend about 10-15 minutes reviewing ideas that appeal to me on the Forex market. I think I'm becoming more of an independent trader now, which is pretty cool on top of being able to read a bit faster and more comfortably than I used to. I can see why reading is a very useful skill that everyone should really develop and utilize for someone to go wherever he or she wants to.

Therefore, it seems like a lot of free stuff are out there to put together like a cooking recipe. For once, I'm going to try my hand at actually cooking! I'm a guy so I'm very bad at cooking or that's what I'm already assuming, but nonetheless it's just an analogy that I'm applying to playing with the Forex market. It's like I'm a chef in this market who is preparing his own recipe to make lots of money!

My daily charts that I am now adding are just supplementary adds on top of my primary 4 hour charts which I'm starting to love utilizing. I'm not particularly paying attention to any proper timing of the market- as long as I'm making some pips then that's all I care about! These charts are mainly being used with the major pairs to catch any potentially long term trends but I'm sticking to my 1 to 2 risk reward ratio; I'm basically now an active swing trader and can't go back to day trading. It's just not something I want to do anymore; I'd rather play video games if I had all that free time instead of looking at the market all day.