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Mike L. · 31-12-2002, 22:43

Hi All!
I am just starting out in trading FOREX and am trying to find my trading style via a demo acct. My initial strategy was to intra-day trade moment to moment using 5min and 10 sec charts after reviewing overall trends for the day on hourly charts. I have to say that it has not been too effective for me. I find that the market moves too fast to try and capture the small (10-20 pips) up and downs, at least for me at this early time in my education. Also, the volatility seems to often stop me out. I decided to trade a more daily style (actually overnight has worked well for me) and Ive actually gotten all my losses back. I agree that being able to catch the intraday ups and downs could be very profitable but I dont yet have the technique to do this. For example EUR/USD went up-down-up aprox. 60 pips today (for a total of 180 pips) but I got about 40 pips out of it with one day trade. If any of you could shed a little light on how to profitably trade in this style I'd (and others) would greatly appreciate it. I hope this is not too broad a request, any tips would be greatly appreciated.

Thanks to all for their great posts and to all great tradesin the new year !

31-12-2002, 22:43	#4 (permalink)
Mike L. Registered User Join Date: Dec 2002 Posts: 2 Rep Power: 0	Hi All! I am just starting out in trading FOREX and am trying to find my trading style via a demo acct. My initial strategy was to intra-day trade moment to moment using 5min and 10 sec charts after reviewing overall trends for the day on hourly charts. I have to say that it has not been too effective for me. I find that the market moves too fast to try and capture the small (10-20 pips) up and downs, at least for me at this early time in my education. Also, the volatility seems to often stop me out. I decided to trade a more daily style (actually overnight has worked well for me) and Ive actually gotten all my losses back. I agree that being able to catch the intraday ups and downs could be very profitable but I dont yet have the technique to do this. For example EUR/USD went up-down-up aprox. 60 pips today (for a total of 180 pips) but I got about 40 pips out of it with one day trade. If any of you could shed a little light on how to profitably trade in this style I'd (and others) would greatly appreciate it. I hope this is not too broad a request, any tips would be greatly appreciated. Thanks to all for their great posts and to all great tradesin the new year !