Charting myself !!
This is how I have done so far for this month. It was good that I plotted this out. It does give me some feedback. I can see that I have a lot of trades for this month which means I have overtraded. You can see that when I was overtrading I was going nowhere. For every upmove there was an accompanying downmove also.It is funny that when I see the above chart, the first thing I noticed were the support and resistance lines. It seems that there is a huge support level at 250 and some minor support at 300. I wonder if I can apply my Fib lines too to see where my next retracement will be. Just kidding, but who knows they might be true on my charts too.
Am I becoming a geek trader now? ;)
posted by Kilaxi at 12:18 PM
2 Comments:
Hi there Kilaxi,
I have really enjoyed reading your blog so far. It is nice to see someone having some success in the forex market. What broker are you using for the mini account. I am a forex newbie and have been working through some of the stuff at Babypips, and I am trying to find all of the good brokers that allow mini accounts. Are you satisfied with your broker? Thanks again for your great blog. It is really an inspiration to hopeful future traders like me! - jorhyne
Hi Jorhyne,
I'm using Fxsol currently. So far I have had no problems with them. I don't use their free charts as I don't like them. For charting I have been using GFTForex's demo account. It is always advised to use the same charts provided by your broker due to some price differences between brokers. But as far as I have seen the price difference between fxsol and gftforex is very minute. If my mini account trading goes well, I might open up a regular account with GFTForex.
Good luck with your trading,
Kilaxi
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