I'm starting to understand my own simplified style of trading currency. It's definitely speculating because you really don't know what the market is going to do at any given time. I watched this really cool documentary on YouTube about how top traders were putting in billions of dollars in the market just to lower or raise the currency by a couple cents for making profit. It's pretty crazy how they were scalping the market by coordinating with other big banks!
Anyway, my take has been a more eased approach and something I have been longing to do on a part-time basis while letting this thing turn into my main form of living. I'm taking on a day/swing trading approach from just enjoying the style. My employed strategies are in no particular order: Fibonacci numbers, candlestick and chart patterns, divergences, support/resistance, news reports, and trend lines. On top of doing that I will trade no more than one currency per day and add on the next day, if I am in a no lose situation. It's turning out to be quite promising and pretty fun.
I pretty much have a set and go thing where I just use my customized script I wrote to set up a 1 to 2 risk reward trade and then manually put in a trailing stop of 1 to 1. It's still on demo but if I can get it working really well then maybe I might have something that would support my finances in place of having a full-time job.
