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Help for Newbies (Discussion Thread)

  • #661
  • Nov 7, 2012 9:00am Nov 7, 2012 9:00am
Hi All,

No idea if this is the right place to post this but I'll give it a shot.

I need to calculate the latest weeks average deal leverage from a detailed report made from my MT4. I have now idea on how to do this?

Really appreciate any helpful answers.
  • #662
  • Nov 7, 2012 10:05pm Nov 7, 2012 10:05pm
Quoting Mr.Momentum
I need to calculate the latest weeks average deal leverage from a detailed report made from my MT4. I have now idea on how to do this?
What do you mean by 'average deal leverage'? I have never heard about that. You set by yourself the leverage on the assumption of your strategy.
  • #663
  • Nov 9, 2012 3:34am Nov 9, 2012 3:34am
Quoting Mr.Momentum
Hi All,

No idea if this is the right place to post this but I'll give it a shot.

I need to calculate the latest weeks average deal leverage from a detailed report made from my MT4. I have now idea on how to do this?

Really appreciate any helpful answers.
Please give us some examples of "deal leverage" which you are talking about.
  • #664
  • Nov 9, 2012 8:01am Nov 9, 2012 8:01am
Quoting metroman
Please give us some examples of "deal leverage" which you are talking about.
I needed to calculate the yearly turn over for the account and did so by using Oandas spread cost calculator, and there they asked for "Avg. deal leverage". I had, just like you, never heard the term before and therefore choose to post the question here.

But when using the MT4, isnt the leverage pre-set, to usually 100 or 200? And then you choose position size by using lots, and not determine leverage for each deal?

Here is the link to Oandas calculator: http://fxtrade.oanda.com/analysis/sp...st-calculator/
  • #665
  • Nov 12, 2012 2:41am Nov 12, 2012 2:41am
Quoting Mr.Momentum
But when using the MT4, isnt the leverage pre-set, to usually 100 or 200? And then you choose position size by using lots, and not determine leverage for each deal?
Here is the link to Oandas calculator: http://fxtrade.oanda.com/analysis/sp...st-calculator/
I guess I understood the thing..
Of course you don't determine leverage for each deal. But for example your broker has 3 variants of leverage 1:100, 1:500, 1:1000. You used 1:500 in 50% orders and then you decided to change it to 1:1000 (usually you can change your leverage). So the avg. leverage will be 1:750. Try to do it with your numbers.
  • #666
  • Nov 12, 2012 3:28am Nov 12, 2012 3:28am
Quoting Mr.Momentum
I needed to calculate the yearly turn over for the account and did so by using Oandas spread cost calculator, and there they asked for "Avg. deal leverage". I had, just like you, never heard the term before and therefore choose to post the question here.

But when using the MT4, isnt the leverage pre-set, to usually 100 or 200? And then you choose position size by using lots, and not determine leverage for each deal?

Here is the link to Oandas calculator: http://fxtrade.oanda.com/analysis/sp...st-calculator/
i think you'll find it's just oanda's way of working the numbers. they could have just asked what lot size you normally use and how big your account is. if you have 1k and trade 0.01 lots you would enter 1:1, but if you had $10 and trade 0.01 lots then you would enter 100:1.

it's just another way of looking at the size you are trading and oanda can then calculate everything it needs from there. they might think it seems more polite to ask about account size and leverage used instead of account size and actual lot sizes traded, or they think people are more familiar with the concept of leverage.... which is simply not the case. also, my understanding is that the oanda platform is very different to mt4 and sizing is entered completely differently, so it possibly makes more sense to ask it this way if they are catering to the users of the oanda trading platform.

p.s. leverage isn't so-much 'set' by anyone, rather, it is 'offered' by the broker! nobody is forcing anyone to use the leverage. yes it is a value that the broker 'sets' on their servers, but nobody has to take advantage of the leverage 'offered' by the broker. that's a big difference and most people just don't understand this. everyone wants to freak-out about leverage numbers offered when it really makes no difference. large leverage values offered don't force a trader to trade bigger, it simply means a trader needs LESS money to trade. it just means that absolute loss values are comparatively larger percentage-wise compared to your account if you take advantage of larger leverage. a $1 loss on a $10 account looks a lot worse percentage-wise compared to a $1 loss against a $1000 account. the loss is still $1, despite the leverage employed in either case.
Congratulations ScalaFX for coming out of the closet!
  • #667
  • Nov 15, 2012 10:12am Nov 15, 2012 10:12am
Quoting nubcake
i think you'll find it's just oanda's way of working the numbers. they could have just asked what lot size you normally use and how big your account is. if you have 1k and trade 0.01 lots you would enter 1:1, but if you had $10 and trade 0.01 lots then you would enter 100:1.

it's just another way of looking at the size you are trading and oanda can then calculate everything it needs from there. they might think it seems more polite to ask about account size and leverage used instead of account size and actual lot sizes traded, or they think...
Great! Thanks, I was thinking that it had to do something with the lot size, but I didnt know exactly how to calculate it. What I did was I calculated the average lot size in the account instead and then used a "leverage to position size" calculator i found on the internet and found out that the avg leverage became only 2:1 in the account. Had quite a drastic impact on the yearly trading volume of course. Thanks for the help everyone!
  • #668
  • Nov 23, 2012 9:41am Nov 23, 2012 9:41am
Quoting PeterFM
There is a lot more to come, time is a problem with a project like this if I'm going to do it properly.

TP is hard, and I'll deal with this later, but try this old thread of mine for a start. I don't have hard & fast TP rules, I suck it & see as the trade develops. If I look back over trades, I'm wondering why I took profit at all at some points. Hindsight & fear, really good partners in FX trading
I usually take PARTIAL TP on major support resistances, or on big spikes of price. If for example I am long and we had a +30pips candle, I will have to cash in a little. But the trick is to take multiple exits. I also like to take multiple entries, but thats another thing... and not everybody agree with averaging
If you aim for the stars- but miss, you still get the moon...
  • #669
  • Dec 3, 2012 5:44am Dec 3, 2012 5:44am
I have learned much from this thread. I am new here and needed to get going posting. I think I have made every mistake or nearly all that you wrote about.

Now, it is down to learning how to do it right.

Thanks very much
  • #670
  • Dec 5, 2012 8:27am Dec 5, 2012 8:27am
Hi All!

I would like to ask that is there any software like forextester for stocks?
Stocktester or something. I searched for it via google but didnt find any.

thanks for help.
  • #671
  • Dec 5, 2012 3:01pm Dec 5, 2012 3:01pm
Quoting chartfan
Hi All!

I would like to ask that is there any software like forextester for stocks?
Stocktester or something. I searched for it via google but didnt find any.

thanks for help.
as this is a forex forum you are kind of out of place... no?

but, as it so happens, you can play with ninjatrader to sim trade. don't ask the how's and why's. wrong forum for that.
Congratulations ScalaFX for coming out of the closet!
  • #672
  • Dec 8, 2012 11:56pm Dec 8, 2012 11:56pm
cAN SOMEONE GIVE ME A FE TIPS ON HOW TO MAKE SURE i CAN GET THOSE CRISP, CLEAN CHART IMAGES POSTED ON FORUMS

I USE wINDOWS

I HAVE VISION IMPARMENT SO I USE lOW sCREEN rESOLUTIoN
dO I JUST PRNT sCRN CHART IMAGE FROM fULL sCREEN
eDIT IMAGE TO CROP THE ACCOUNT AND BROKER DETAILS
sAVE IN a fOLDER
AND THEN ATTACH THEM TO THE fORUM pOST?

I AM CONCERNED ABOUT THE RESULTING IMAGE BEING TOO BIG, TOO GRAInY.ETC.

aNY tIPS?

I am not meaning to yell, I use the large case so I can read my typing eaily
  • #673
  • Dec 21, 2012 12:16pm Dec 21, 2012 12:16pm
Hey Peter im new to trading and all that stuff , tho im pretty young i might take this way for my future.
In your help Thread, im refering to 'Thoughts of a long-term trader....' james says that its extremly important to start on long timeframes , why is that so? since im more like a fast paced typo i wanted to go with scalping first(demo ofc), am i am doomed to fail already?
thanks for reply
best wishes to all survivors out there
  • #674
  • Feb 4, 2013 5:36am Feb 4, 2013 5:36am
Hey, thanks alot for the link to the chart.
Quoting 3stepsahead
It says in your profile you have been a full time trader for a minimum of three years. You should know where to get those charts. Google is your friend. http://www.marketwatch.com/investing/index/dxy/charts
  • #675
  • Sep 27, 2016 4:18am Sep 27, 2016 4:18am
Hi guys,
I would like to invite you to my new thread where I post everyday new intraday trading levels. It is completely ok for beginners. You can learn much there and start being profitable.
Here is the thread:http://www.forexfactory.com/showthre...14#post9162014
You are all welcome there!

Happy trading
Dale
  • #676
  • Last Post: Aug 15, 2019 8:30pm Aug 15, 2019 8:30pm
Is there any of you trading news? can you give tips.
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