Well, two trades later and my account grew by $93 dollars. My stop loss saved me on the first one, limiting me to a $23 gain. The second trade was a sell that netted me $70 dollars before my take profit took me out of the trade. I feel like I might have set my take profit level a little to small. As you can see, I do a lot of second guessing. The important point is that each of these trades made me a profit.
As a little background, I am a technical trader. I use three indicators that I freely admit that I have kept from the stock market. I learned about them back then, and I kind of understand them, so have kept them in use in the Forex market.
The first one is the Stochastic, the second one is the MACD, and the third one is Volume. I have added one tool that was never available to me in the stock markets, and that one is the Williams Percent Range. I'm a little short on time this morning, so I will have to postpone telling you what I look for in using them until my next post.