I will do a post later today of the trades I have entered this week and the reason for entering them.
My starting balance is £550 and I am currently using a UK broker called IG Index, anyone else who is in the UK and can advise a potentially better broker let me know...
My aim is to increase my account balance by 10-20% each week and by risking a maximum of 5-10% of my account at any one time...
I am very new to the Forex market and have already made a lot of stupid mistakes (even made a couple this week),I think I have lost approx £800 and alot of those losses have not come because the systems I have been using were wrong, but because I have been impatient and tried to chase the market / trade news etc.
The problem I have also found is that generally when I have suffered a big loss, it is because I have tried to make too much too quickly and not been able to implement a big enough stop loss for any retraces, so often my stop or a few points around it, would be the point the retrace stopped and continued in the direction I expected.
Anyway, whatever your trading style and your aims from trading Forex I wish you all the best and may we make many pips together!!!