I am not an expert in Forex trading. I can tell you that. I started practicing trading Forex using dummy account from two famous Forex brokers using just one indicator given to me by a very sincere friend who have shed me some light on how to trade in Forex online. Being an amateur, the indicator was quite a good one actually and it does help me a lot in predicting the market fluctuation. During my trading using the dummy account, I doubled my equity in just three days, amazingly remarkable indeed, but then, lost it in the week after, sigh.
Then I started again training myself as well as trying to understand the Forex market fluctuation attitude. I started changing pairs in attempt to find a few performing pairs to trade, of course I didn’t actually know what is backtesting back then. Then, I started to develop my own style and tried to establish my own so called “Trading Plan”. It was a very simple one really; no stop loss and no take profit. Whenever the market jump on high (bull) or low (bear), I get onboard and of course, the volume of lots put was based on what I believe will maximize my profit without calculating the risk. Risk management was absolutely next to nonexistent. You can see how nasty it was trading without knowledge. I never knew how to trade base on any whatsoever technical analysis. Fibonacci, RSI etc was so alien to me and it still is until now. I have no formal training in whatsoever way to actually trade in the Forex market as it does to any other traders. One indicator and that’s it.
Even so, I started my real live trading exactly in December 2009 with a very modest capital of USD500.00. To be very frank, I lost all of my money in less than 1 week. The emotional and psychological state at that time is unexplainable. Depression hit me and I finally know the reality of Forex trading. But the lost didn’t stop me from keep on finding a better way to trade. Bear in mind I have no knowledge in doing any of the technical analysis stuff. I put in more equity to my account, and this time I put in USD1,000.00. Using the same indicator and a few changes on the “Trading Plan” I started to trade again. Giving myself full commitment of 24 hours of my time to trade, I lost all of that equity in just two weeks. Whoa..!!!
At that time, I realize that I have no other choice but to learn and upgrade. I then went to see my friend, the one who gave me the indicator, trying to seek some advice on the issue. To my surprise, he actually has developed a complete package for Forex trader that covers all of the things any Forex trader ever needed. This is great..!!
He then explained to me on what actually any trader need to trade. Three things he said, Mental, Money Management and Method. Hmmm… Very interesting indeed..
I started to use his package in February 2010, and the result was amazing. That month my trade achieved a stunning 73% winning rate trading with two pairs. I maintained the same pairs on the subsequent month with a winning rate of 67%. Using the method he developed, I managed to do a real and reliable backtesting to track good performance pairs. By the end of May, my winning rate dropped to 33%, I believe it was due to the Greece debt crisis, but even so, the overall equity is still positive. In June, I started to trade 5 high performance pairs and to date the winning rate is still at 85% with 2000 accumulated pips.. Not bad for someone who doesn’t even know how to do basic technical analysis I would say…
Me, an expert Forex trader, nah… But now, I trade with accurately calculated risk, I have a trading log that tracks all of my trades, doing backtesting is ultimately more reliable than ever, trading is never so confident, and above all, I can now actually trade with a peace of mind…
The package is Betras Swing Method. It works for me, it should work for you…
Get the information, visit : http://betrastrade.blogspot.com/
And that friend is none other than Mr.Romzan Miskon… Thank you my friend…
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