[RealDemo]

Hi,
beginning at the start of next year I shall be trading my first live forex account.

In true community spirit I'll be recording these efforts for delight and derision here:

http://forexnovicetrader.weebly.com/index.html

.... should you wish to look

I'm not selling anything btw.

Actually.... other than to publicise my possible slow death, I'd be interested to here from anyone who may be planning going live soon. Preferably forex trading, but don't let that stop you, happy to share thoughts with anybody who finds themselves at this particular stage on their trading route.

I'm going to try and post some stuff here as well but I must make it clear this is obviously not 'Guru Time'. The aim is to just try and provide a record of what might happen when we (me) as novice traders open our wallets and stop playing monopoly.....

....if statistics can be believed then this might not take very long.

My own reason for creating something public is this...

Firstly, that the ease in which I could stray from my rules will hopefully be restricted due to the public embarrassment it would cause me. A well executed trade that didn't work out is fine, but a forced trade that didn't make the list and then lost is not.
You never know it might work.

Secondly, I hope it genuinely might help others in whatever way that might be, even if it's to say "*u*k that!"

As I say this is the first time so I'm not going in deep, I'm putting $2000 in a microlot account and taking it from there. This money can be lost without provoking death or divorce....or both.

So there you go, hope this might interest somebody.

[henryduncan12]

Thanks to share your 2012 forex trading plan. Same thing is here. I am also planning to go for real account with AVAfx https://www.avafx.com/Real-Registration-Steps/ since next year. I hope next year will good for you and me as well.

[RealDemo]

Hi,
hope things go well for you too. If you can find time post your thoughts and experiences.

[RealDemo]

Nice snowy christmassy Swissie bonus this morning.

Set-up gave a normal entry signal, entered early getting in before the rush, stop just the other side of last 15m swing. Fairly high probability of a $ pullback today on all pairs anyway, some profit taking and the Euro at a significant low 1.30. TP set for swing low support and within ADR.

I don't normally trade news but the correlation of a technical set-up with a bonus fundamental move created a pretty good trade.

2 lots left on for the possibility of a continued move lower, may have to wait for NY before a continuation or reversal is seen,50pips locked in with stop.

[RealDemo]

An important lesson I've learned on the subject of support and resistance is the way it changes from one to the other and the trading opportunities that creates.

Looking back at this recent Eurusd chart, 3 possible short entry set-ups stand out for me at this swing low support turned resistance.

First entry would be short off the line 3220, high probability that price will be rejected there.

Second would be short after the formation of this bearish candle, we arrive a little bit later but we've got some more supporting evidence that sellers are coming in.

Third would be to wait for the candle and look to short a fib retracement of that candle. This last one of course risks missing the boat completely if it doesn't retrace.

All these entries allow us to get in early before the price takes off on the breakout, which in a down trend is what we want.

This pullback retest can be seen on all time frames and is an excellent way to enter a trend.

[RealDemo]

Approaching the low of 2011.

Where are we off to next

[RealDemo]

USDCHF remains in bearish mood in this channel. The triangle formation butting up against the DP this morning falling away sharply at the London Open.

My bias was bearish with the 4hr trend and from the DP the TP levels were S1, S2, and much to my surprise S3.

On the 4hr bullish channel price is now on the lower trend line.

[RealDemo]

Long GBP this morning out of this Asian range. Looking at the 4hr gives some perspective on where price will probably find sellers and buyers will bail out, plus some news mid morning to watch out for. Actually R1 target hit before the news so closed trade.





Looking for a set-up to go long this pair back into this channel. I chose to try and fade this Asian session breakout, looked like a possible DB pattern but first trade stopped out by a spike.

Re-entered on the break of the last 15m swing. All out at R1.