FxGliderV4

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To be a successful trader I would say the following would apply - apart from being able to spot entry and exit positions that is.

  • You have to have lots and lots of patience. This goes hand in hand with greed. People get greedy, because they do not have the patience to wait for them to make money.
  • Do not be greedy - the profits will come. If not today then tomorrow
  • It's OK if you don't trade everyday - sometimes conditions are not favorable for trading and then we sometimes enter the market feeling that you should. Only trade when you want to - not when you have to.
  • Stick to your strategy for at least 6 months if not longer. Many traders start a strategy, start of well and then they start loosing money. Sometimes you are not loosing money because of the strategy, but because of patience, discipline, greed, etc.
  • Have a goal and stick to it - decide on how many pips you would like to make per month. Brake it down and determine what you have to pocket per day. 200 pips monthly can give you 2% ROI per month or 20% ROI per month if you up the risk. This would mean you have to pick up only 10 pips per day. If you were given the whole day to spot only 10 pips could you do it? Here is what is important. Once you have banked the 10 pips, switch of your platform and walk away from your computer. Many times it is the second and third trade that cost you to loose your pips you've just made. Try this - you will be surprise to see how many profitable trades are the 1st once you make in the day
  • Trade with a reputable broker only!
 

Daily ROI: 0.92%

Monthly ROI: 26.74%

Drawdown: 1.93%

Profit Factor: 2.84

21 Trades in total: 19 Winners ( 90% )

 

Getting ready to start trading...

 

Well, I had a great start for the week, banked 45 pips. Current statistics as follows:

Daily: 0.91%

Monthly: 25.71%

Drawdown: 1.93%

That's me for today, might have one more trade this afternoon when NY opens otherwise I'll be back tomorrow morning.

 

Another great trading day for me - gained 42 pips - done for the day, will be back tomorrow morning.

Cheers!

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