I am new to Forex but have been interested in stocks, watching the markets, and trading for last couple of years. I have developed a strategy which over the last year has an average gain of about 800 pips per month. It runs on daily and some trades last in upwards of ten days. There are some months without a single trade. My first question is, to at least me, this seems like quite a bit of pips but my strategy is running on daily and rides major trends, is this actually quite a bit of pips for trading seriously? Secondly, it seems as though trading daily, allowing it to run all night is quite risky. Is it recommended that I stay away from daily and instead invest my time looking for strategy that would only give active trades while I am overwatching the market? Third, as I am new, I was wondering if anyone could recommend some excellent texts to help me understand more on forex. My four question, is are there any problems that forex traders deal with that stock traders do not? I am not one easily swayed by emotions but as I have already asked I am cautious about the system and any kind of factors that I would have to pay certain heed to.
Thank you for your time and I appreciate any comments.
Thank you for your time and I appreciate any comments.