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Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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4 comments:
I think making one trade a day is a step in the right direction for you. It shows that you are not being impulsive/gambling. That being said, I think you need better trade entries, gauging from the last week of trading I see many entries for buys near bollingerband highs and shorting new bollingerband lows, instead of buying the dips or selling bounces.
About me not being impulsive/gambling one day later I'm showing exact opposite :(
I'm used to that break out style, which wasn't right thing lately because of constant range. Few years before I wasn't being able to go in direction of trend, I had only reversal trades. It will be some time until I learn to buy dips and sell bounces.
Also, consider the instrument is seeking to make higher highs or lower lows. If I thought it was about to make a higher high I would have either bought at the dip or waited and bought just as it "blew by" the higher high to get that burst and see if it continued to run.
Yeah, I was looking for higher high I entered in anticipation of it, but didn't want to capitulate when it failed.
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