"Wisely and Slow: They stumble who run fast"
I second that. This small thread has been very interesting.
I don't know about you guys, but I have NEVER any money to lose. Before I do that, I prefer to give it to a charity of my choice.
I am still not trading life, and I will NOT, until I understand how to read a chart properly, why the indicators indicate the things they do, and until money management has sunk in. Even so I am using a few EAs that make profits everyday (demo only), but I have to understand them first before I can trust them.
I am still very confused about leverage and the $ amount a pip it represents. I just keep on reading the money management that is here on FF.
Again, thank you everybody for giving the beginners here a real chance to make it.
There are many books that can help you learn about the different indicators. I find that the japanese candlesticks are an excellent leading indicator. Used in conjunction with MACD, RSI, BBs and some others you can efficiently predict the movement. Steve Nison has some interesting books on the origin and use of the patterns in market movement. Reply if you want more info.
Hi
I think I evolved a bit since the first post here 2 months ago. (no3 in the pic)
I actually wiped my account about a month after the first posting in this thread, and went back to demoing. Never thought I will say it was a good thing, but if that didn’t happen I probably would not have gone on to the journey I’m still busy with.
Because I already traded live, the emotional factor which by the way caused me to loose in the first place, played a major role in my learning, I was looking for a clear enter and exit method. I’m using cross-over moving averages for know, and I know that it is lagging, but I’m currently on an average of 25+pips per trade.
I will still not go live, not before I can trade my system blindly and without emotion.
System = Method + Money Management + Trader...tx daillist and all others for the advise
Still, I’m curious without taking lots size etc inconsideration, what is a good average of pips per trade per curency?
btw @ time off writing this… 65pips+(EUR) for the day, and blowing my own horn
I think I evolved a bit since the first post here 2 months ago. (no3 in the pic)
http://www.cs.mcgill.ca/~bmaniy/imag..._evolution.jpg
I actually wiped my account about a month after the first posting in this thread, and went back to demoing. Never thought I will say it was a good thing, but if that didn’t happen I probably would not have gone on to the journey I’m still busy with.
Because I already traded live, the emotional factor which by the way caused me to loose in the first place, played a major role in my learning, I was looking for a clear enter and exit method. I’m using cross-over moving averages for know, and I know that it is lagging, but I’m currently on an average of 25+pips per trade.
I will still not go live, not before I can trade my system blindly and without emotion.
System = Method + Money Management + Trader...tx daillist and all others for the advise
Still, I’m curious without taking lots size etc inconsideration, what is a good average of pips per trade per curency?
btw @ time off writing this… 65pips+(EUR) for the day, and blowing my own horn
- #24
- Jan 23, 2007 8:08am Jan 23, 2007 8:08am
- Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts
