FXWaveRide trader's profile

I've been trading for 7 years. I got into trading at the outset (like most people) because it seemed like a great opportunity to make a lot of money. But, like most people, it didn't pan out that way and within the first year I lost a ton of money! Thousands and thousands. Within a couple of years, tens of thousands!

I didn't quit though. I invested further and a lot more heavily. Not in actual trading this time - but in a quality, professional education. After that education, with directed effort, I learned how to trade. 7 years on, I'm developing my own strategies. The ones on here are new and under testing.

I presominantly Swing Trade and use technical analysis. At the core of that analysis is FIB retracement and extension levels, weekly and monthly pivots, S&R levels and Wave Counts. I will carry out overall, larger timeframe analysis of a currency pair using the Daily, Monthly and Weekly. The short to mid-term swing trade set-ups, entries, targets, and exits will be off the 4h, 1h and 15m timeframes.

Of absolute and equal importance within any strategy I use to trade is strict equity management. This is applied and adhered to at all times. Risk is calculated before placing any trade, lot sizes are calculated according to risk, and risk management is monitored, updated and adjusted as the trades progress.

I have developed a new swing trade strategy and new custom indicator. And that's what's on test here. The risk is conservative at the moment for testing purposes. With a larger period average obtained, I'll then see clearly at what level I can ramp it up to for greater returns within the parameters of sound equity management.