Making it easier as a beginner

After I wrote my previous post I made some changes to my setup which should hopefully help me make more profitable trades:

I removed all currencies with a spread greater than 3 pips. What this should do is make it safer for me to make a trade and if it goes sour then at least I'm not going to lose as much as if I trade on something like the USD/ZAR (it has about a 1000 pip spread), I actually made the mistake of trading on that, before I went on vacation I saw a lot of movement and even made a bit of profit though after returning from vacation I misread the spread and straight away lost 1000 pips!

So for the next little while I'm going to only play with the majors and see if I can slowly build back my deficit (which has really blown out!) 

Related

1. Money Management
2. Finished reading the candlestick book
3. Good System to Profiting?
4. Becoming Disciplined
5. Trading Currency Crosses

Archives

» Nov 2006

» Oct 2006

» Sep 2006

» Jul 2006

» Jun 2006

» May 2006

» Apr 2006

» Mar 2006

» Feb 2006

» Jan 2006

» Dec 2005

Links

» Forex Blog

» Forex Project

» Oanda

» FOREX @ Investopedia

» Baby Pips

» Trading Software

» Forex Bastards

» Ernest Chan