Hope I get enought sellers to keep on pushing down....
look at the wicks at the top and look at the resistance to the left...
look at the wicks at the top and look at the resistance to the left...
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHmm I feel almost embarrassed to post my chart, it was really pretty simple and basic... that being said I guess I should definitely work harder on my next trade I signed up and got 50 bucks from FXCM micro, figured I'd try to parlay it into something decent. Would basically be similar to paper trading, except I would potentially make "something" Have a little over 200 now, and probably need to find better setups so I don't have to add more to it.
Underestimated how much I had put down on trade, and made a little more quicker then I had...Ignored
DislikedOnce price hits my lower support I will take partial profits and move rest to break even lets see how we play out...
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DislikedHmm I feel almost embarrassed to post my chart, it was really pretty simple and basic... that being said I guess I should definitely work harder on my next trade I signed up and got 50 bucks from FXCM micro, figured I'd try to parlay it into something decent. Would basically be similar to paper trading, except I would potentially make "something" Have a little over 200 now, and probably need to find better setups so I don't have to add more to it..Ignored
DislikedBe careful here buddy. $50 to $200, that's a 400% increase! Tell me that's over 2 years and I'll be patting you on the back for a job well done. Somehow though I have a feeling that you may have acheived this a little more quickly...
If you're starting out trading, the best advice I can give is to use proper money management tools from day 1. Work out the proper risk allocation for each trade you place and follow your rules to the letter. Ok, so you may not become a millionaire in your first year, but this is all about building a long term business...Ignored
DislikedHmm I feel almost embarrassed to post my chart, it was really pretty simple and basic... that being said I guess I should definitely work harder on my next trade I signed up and got 50 bucks from FXCM micro, figured I'd try to parlay it into something decent. Would basically be similar to paper trading, except I would potentially make "something" Have a little over 200 now, and probably need to find better setups so I don't have to add more to it.Ignored
DislikedJust wanted to change my name on here so it matched the one in the PF. I lost my post count but not my experienceIgnored
DislikedWell with the FXCM micro $50 bonus you could not manage your money management properly...hence the free bonus
So you got lucky...with $200 you could manage it quite properly now
CMIIW
The smallest amount of position size is 1k right?
That's approx. $0.1 per pip..depends on the currency pairs..
With 40 stop loss and 1k size your true leverage would be 5:1...Ignored
DislikedChart.
Obviously if there is any Daily bearish Price Action or a reversing PB, I'll adjust my position accordingly.Ignored