First trades EUR/USD GBP/USD

Wideboy

Well-known member
489 1
I'm just giving forex a go, and using a demo account from cms-forex for the foreseeable future.
I will try and post my trades here and would welcome any comments (and criticism!) from you all.

Lets start:
Both pairs seem to have formed higher lows and started trending up, hence a long entry on both 122.52 and 180.70.

Doing ok, so far...
 

Wideboy

Well-known member
489 1
Both stops now moved up to breakeven +1 pip.
At least I haven't made a loss on my 1st 2 trades :)
But have I moved my stops too soon and not given it enough space to mature? Only time will tell...
 

Wideboy

Well-known member
489 1
Was hoping to post trades as I take them but you know how it is with time! Anyway was initially long in the morning on both EUR/$ and £/$. Then decided on shorts with tightish stops (prev 30 min candle) for the rest of the day.
Had a couple of losers due to spikes but ended day up 105 pips :)
All demo trades btw, not real money yet!

No real system as such but i use a couple of ema (10,20) to help me visualise the trend and then trade with the trend once it has been established. By established I mean for uptrend, a higher low, and higher high, and vice-versa for shorts.

I'm not posting on here to shout about my wonderful winning trades, but hopefully I will attract some advise and critique to help me and others reading this improve techniques on forex.
 

divinci

Junior member
31 1
so how have you gotten on Wideboy? Im also considering my first trades this week...
 

Wideboy

Well-known member
489 1
Well its been 2 weeks and I have made 59 trades, net loss of 65 pips. Now I dont consider that too bad and have learnt a lot from it so far:

1. I am failing to wait for an ideal entry - I am overtrading.
Most of my losses are from 50/50 trades.
2. Keep my stops tight, on the occasions I didn't, I paid for it dearly.

So I hope the next 2 weeks will be my profitable!

One thing I will say is that I have been trading EUR/$ and £/$ and if you know your TA you should do well :)

Good luck fella!
 

DESKPRO

Active member
120 0
I too am trying the forex mkt (EUR/$) and have a demo account with fxcm. If you are overtrading or not waiting for entrys has your sw not got option to specify at what level entry should be and predefine stops and limits for that entry. The fxcm has and is very useful and takes some of the emotion out of trading.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock