Forex Trading

As always, i am interested by making money. I started mid April, trading on the forex market. At first with demo accounts, but quickly i started trading real money, and what is astonishing, is that without any effort i have been making regular profit!

So how did i proceed? Well first of all i read a great deal of information on the forex. My main source of information was Babypips.com! On Babypips.com, i found all the basic information such as “Fundemental economic news” always need to be taken into consideration, as you cannot rely on graphical studies only. I then learnt to analyse graphs, and especially candles with patterns such as hammers, hanging man, dodji, or shooting stars! Once i had a basic understanding of the meaning of of candles, i then started looking Indicators, such as Fibonacci, macd, rsi, bollinger, MAs, EMAs!

The most important is finding a system that you understand and which suits you! When trading, it is essential to have at least 3 indicators that confirm your trade decisions. Also any economic information must also be taken into consideration. I have several systems, some which are for specific pairs such as GBP/USD or GBP/JPY. But in all casses i use macd, rsi, bollinger, and MAs.

So how has trading been getting along for me? Well in fact pretty well. I have been trading irregularly for a month. I would say that i have traded half of the business days this month. My profit is 17% which is really good considering i have only been trading half the month. I can easily make between 20 to 80 pips a day, which is quite good for a beginner

So i will continue learning and trading and i hope to improve my skills and increase my monthly earnings!