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Trading Tips

  • #61
  • May 7, 2019 10:35am May 7, 2019 10:35am
There are plenty of non-professional traders who also do a good job at it too.
  • #62
  • May 8, 2019 5:36am May 8, 2019 5:36am
professional is a very nice word at any section of working , by the way what you think nay different there is between professional or successful trader ?
  • #63
  • May 12, 2019 8:16am May 12, 2019 8:16am
The trading tip for today should be to stock up on cryptocurrencies in light of the intensifying trade war(s) between China and the US.
  • #64
  • May 21, 2019 4:08am May 21, 2019 4:08am
the most important trading tip , i think try to manage your money when trading in practical , only money management can change your trading life , otherwise no way to survive in here with successfully.
  • #65
  • May 22, 2019 6:57am May 22, 2019 6:57am
Quoting HajiMohsin
the most important trading tip , i think try to manage your money when trading in practical , only money management can change your trading life , otherwise no way to survive in here with successfully.
Of course; money management is the key! Even, with a good trading strategy the result will be unexpected if traders don’t follow the rules of money management.
  • #66
  • May 23, 2019 4:01am May 23, 2019 4:01am
what you think according to your own experience , any different there is between money and risk management ?
  • #67
  • May 23, 2019 12:13pm May 23, 2019 12:13pm
Quoting Aldumbell
The trading tip for today should be to stock up on cryptocurrencies in light of the intensifying trade war(s) between China and the US.
What cryptocurrencies do you prefer and what war do you mean?
  • #68
  • May 25, 2019 3:00pm May 25, 2019 3:00pm
Quoting LanaBanana
{quote} What cryptocurrencies do you prefer and what war do you mean?
He said it clear - trade war between USA and China. And about the cryptos - every major one works fine.
  • #69
  • May 25, 2019 6:46pm May 25, 2019 6:46pm
- be patient
- understand how news affect prices. Does a high interest rate in Europe means the EUR/USD price will rise or fall?
- understand the market; what is the sentiment within a major economy?
- if your not confident in a trade, don´t do it
- don´t interfere with SL and TP targets; stick to them as planned
- take losses and try to be better next time
- learn from your mistakes, make a trading diary and go through it every other day
  • #70
  • May 27, 2019 4:24am May 27, 2019 4:24am
What would you guys say is the best approach if starting with one currency pair only? E.g. EUR/USD; intra-day, swing etc?

I wanted to begin my demo learning with day trading as in my mind it offered the most opportunity to test patterns / actions, but it is also quite fast paced.

Would anyone recommend a different currency pair to start?

My strategy is based on a 1:2 risk:reward, using a 1% risk limit, aiming to achieve at least a 50:50 win ratio to start. I am tweaking my approach, focused on raising my win ratio first but still feel like I am guessing too much,
  • #71
  • May 27, 2019 2:38pm May 27, 2019 2:38pm
Quoting ben.martin
What would you guys say is the best approach if starting with one currency pair only? E.g. EUR/USD; intra-day, swing etc? I wanted to begin my demo learning with day trading as in my mind it offered the most opportunity to test patterns / actions, but it is also quite fast paced. Would anyone recommend a different currency pair to start? My strategy is based on a 1:2 risk:reward, using a 1% risk limit, aiming to achieve at least a 50:50 win ratio to start. I am tweaking my approach, focused on raising my win ratio first but still feel like I am...
Starting with EUR/USD isn’t a bad choice; but you also can add GBP/USD is you like actually!
  • #72
  • Aug 5, 2019 5:50am Aug 5, 2019 5:50am
Quoting HajiMohsin
what you think according to your own experience , any different there is between money and risk management ?
according to me, there is no vital different between two , its all same about.
  • #73
  • Aug 5, 2019 7:53am Aug 5, 2019 7:53am
can you please share the detail . what same same between RM and MM.
  • #74
  • Aug 5, 2019 10:06am Aug 5, 2019 10:06am
Quoting AlexImam
can you please share the detail . what same same between RM and MM.
Money management is what you do with the $1000 you have in your trading account to make it last long enough for you to learn to trade and grow.

Risk Management is what your wife did by allowing you only $1000 to put into your new "hobby".
In trading, there is no bullshit. You either make money or you don't.
  • #75
  • Aug 5, 2019 8:19pm Aug 5, 2019 8:19pm
Trade with your own system. If you do not have one, make one. The highest chance you've got in this market is make a system that suits you. No one else.

Making your own system means that you are the most comfortable trading with that system.
Work work.
  • #76
  • Aug 6, 2019 11:57am Aug 6, 2019 11:57am
A lot of traders don't have the knowledge and experience to create their own trading system. Until they get to the point where they can do that they have no choice but to use another person's.
  • #77
  • Aug 6, 2019 2:39pm Aug 6, 2019 2:39pm
I have been (demo) trading successfully for the last month or so using support or resistance levels drawn from hours that are above average volume (for that particular hour over 30 days). I'm generally in a trade a couple of hours max for 40 to 50 pips.

It was working well until the fed/tariffs/trump. Now volatility seems to be higher my levels aren't as 'sticky'. It kinda feels like irrationality has spiked. There will be big buyers or sellers at levels who disappear without a trace.

Every hour of August in most currencies has above average volume for the hour. Which is a complete nightmare for me.

Does anyone have any advice/stuff to read regarding the viability of s/r levels or general market behaviour during higher volatility (or after big price moves)? And is this higher volatility likely to last?

Sorry for the ramble.
Hypocrite lecteur, mon semblable, mon frere!
  • #78
  • Aug 6, 2019 2:58pm Aug 6, 2019 2:58pm
earn money with your trading system ,its possible for all time just need a real money managing plan, nothing without it. .
  • #79
  • Aug 7, 2019 10:41am Aug 7, 2019 10:41am
If you have a trade plan - and it is advisable to have one - stick to it as much as you can, don't be chaotic and impulsive in your trading.
  • #80
  • Aug 7, 2019 12:52pm Aug 7, 2019 12:52pm
i dont believe any kind of plan, more plan means more useless working , i have seen in my life who make more plan ultimately get nothing from working , plan always useless until practically working.
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