If you are a nervous trader like me, no system in the world will work for you. However, I have been focusing on a system that many others have tried and it seems to be working.

Firstly, foget about trading big money if you are a worried trader. Forget about sitting in the front of the screen all day. Forget about the news. Forget moving averages. All you have to check at is the long term trend. Consider fundamentals.

Example, we see that the pound/dollar is quite bullish and probably will always be that way. When you have a look at a 2-5 year chart, you may see what I am talking about. That being said, why don't you just reduce your investment dollars into fractions and go long on the drops (100 pips or more). If it goes down again, buy more and so on. You ought to even plan on a dip out of your original entrance of 400-500 pips. If you cut down your levels significantly, that type of loss should still allow you to sleep at night.
So when do you market? I market when my most recent buy is up 50-100. You will never get rich doing this. . .yet. However, as soon as you see that it is working for you personally and you acquire the confidence of the system, you can start to think about larger numbers. I've attempted paper trading with larger numbers but I had to sit at the computer all day. Very tiring and very stressful. Always had losses and of course had a few wins. But as a nervous emotional trader, the losses really got to me.

I've been using this system for about 6 months and have not recorded a loss however. Sure , I had to sit on a transaction for a little while before it turned positive for maybe 3 months or so but I was able to hold on because the numbers weren't too significant. They did include up as I bought more and more but that's why you have to trade in VERY small amounts until you get the feel for it. I just recently put more money into my account and feel fantastic about it. I'm upping my investment numbers (maybe not Trading amounts) and am very familiar with it. And because you know, that is one of the biggest problems: FEAR!
Today, the lack of dread does not make me do stupid things. I cant tell you the number of occasions even though I knew (or at least had a fantastic feeling) the pound was going to go again, I took a loss because I couldn't stand being at the negative and sitting having to look at it for hours or even minutes. Lets face it, the pound is quite volatile, it's easy to get stopped out to 20 pips roughly. So, I gave up trying to be precise. I buy at service and market at resistance, but those areas are usually major SR places. If you are a newcomer and not able to decide on those regions, dont. Just wait until the end of the trading day and buy only if it's gone down 100 or more pips. BUY LOW, SELL HI ! It's simple.

Bottom line