HonEB's Trading Plan
Roughly how much time do you dedicate to developing your trading skills per week?
I devote 4 days a week towards monitoring potential trades, following fundamental announcements and technical analysis. I work 20hours a week part-time as a customer service representative in a call center from Friday evening to Sunday during closed market hours.
What kind of currency pairs do you trade?
I am truely a Comdoll at heart and I focus on pairs like AUD, NZ, CAN... against the JPY. I also love the huge protential for earning with the Carry so I also go after the South African ZAR. When the Carry is not in play, I swing trade the usual suspects GBP/USD, EUR/USD, USD/JPY, USD/CHF.
What motivates you to be a trader?
The ability to be my own boss. Work from home. Dictate and determine my income based on my performance... AND THE MONEY!
Using a percentage based on the value of your account, how much do you expect to make per month?
I am trying to slowly build my account balance up before I start relying on any income generated from trading. I've been studying forex for 10 years and I've learned that if people start having goals or trading plans that have a set amount of money or pips they have to make in a day(s), week(s) or month(s), they are usually the ones that fail. The market will move when it wants and where it wants and doesnt care if you HAVE TO MAKE 1600pips in a month to live comfortably.
Which timeframe do you use most often?
My focus has always been the 1h, 4h and daily charts. If I"m carry trading I may take a peak at the weekly chart.
What trading-related goals do you have?
Generate a steady secondary stream of income part-time.
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