As Above, So Below
DislikedHello, Mr Tashkent, I don't know to call you sir As I said, I'm a new-learning forex trader with 1.5 part-time trading year experience. I'm here to ask hopefully you sir to recommend me something to learn successful forex trading. I'm new here,So I dont know how to post. . I hope I'm posting thisIgnored
Disliked{quote} hello buddy, i am not an expert nor professional trader but if you have any questions on trading just fire away, i will answer in my capacity. if you have been trading for 1.5 year, i am pretty sure you must already know all the basics of trading.Ignored
Disliked{quote} Hi Tashkent, Do you trade for a living? Just wondering. BTW... Haven't been reading posts much, but I've been drawing lines per your suggestion and trading price actions. Though demo only, I'm taking it very seriously as if live trading. Still I'm aware there are significant differences. So far overall results are slightly under water, which is actually a big improvement from the past. I won't live trade until demo trading is consistently positive first.Ignored
Disliked{quote} Hi Adel, if you meant i am a full time trader, then no, i trade part time. couple of hours a day is sufficient for anyone to get his share from market. there is no need to sit in front of pc all day long. i am glad to hear that your trading is improving. horizontal lines on the body and h/l of the previous candle and reading the price action on lower tf can be really helpful. unfortunately can't give much advise since i do not know anything much about how you trade. from what i have noticed so far, my advise is learn when to take your profit....Ignored
Disliked{quote} I like the small chart window. It says something about the unique way you think & operate.Ignored
Disliked{quote} thanks my friend. much easier this way for me rather than watching tons of charts and indicators. how has market been treating you lately? i am getting into more and more losing trades and now my winning rate is about 61% but no harm, just managing the losers and applying different exit strategies.Ignored
Disliked{quote} Only 61% Jeez... my first thought was that must be an unusually low figure for you. I'm hovering around 76% with losers pips typically larger than winners. Still demo trading though, so winning rates may not be reliable. Perhaps I would recommend hedging to boost winning rate. My main strategy is 'If/When in doubt, HEDGE '. Example... when I have an open position just prior to news event, I may place a stop order to hedge my position in case price goes the wrong way.Ignored
Disliked{quote} you know what, look at my monthly stats, i have lost 357 pips this month, 482 this week in addition to a low winning rate of 61% i think i must give up trading, that is a total disaster btw, thanks for the advise, i prefer not to hedge and overall i really do not care about useless things like winning rate etcIgnored
Disliked{quote} You're joking, of course I do have live positions of AUDUSD from a few weeks ago, big losers that I'm still holding.Ignored
Disliked{quote} hmm, holding aud and euro shorts is little risky. however there has to be some kind of bounce but the question is when... do you ever try to rescue the bad position before things get worse?Ignored
Dislikedthere is something we all need to understand. this is not about having a high winning rate nor collecting pips. for example, my winning rate is not so good, because i am not concerned about it, therefore can take lots of consecutive losses, the main thing is that these losses are small, therefore have lots of red pips. if i do not like my position i will just kill it and move forward. also may keep some of them if have positive swap and waiting trend to resume like audjpy. since they are usually small, i do not mind couple of hundred pips in red...Ignored
Disliked{quote} Fantastic... I like your war analogy. I will have to think about the rescue strategy and not always sit out a worsening drawdown with vain hope.Ignored
Disliked{quote} yes, you need to practice it. it is like martingale, but your rescue team is a few times bigger than the scout team, and they are very fast, the job must be done in a few minutes. longer they stay in the field higher the risk of losing them allIgnored
Disliked{quote} Scary... But I do believe such a strategy is a key to success. Will try it.Ignored