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"The Logical Trader." Newbies, ask your questions here

  • #21
  • Aug 19, 2011 7:40pm Aug 19, 2011 7:40pm
Quoting SteveHopwood
Hehe. Magix, I neither know nor care whom you are. I can say this; you are not allowed to abuse someone offering a simple explanation to a newbie asking for help. I note you did not offer your own explanation.

You are barred from further participation in any of my threads. To my knowledge, this is the only time you have participated in any of them, so this should not be a hardship.

Looks like he deleted his post that caused your response. It makes him look very shallow! Plus, in part of his comment he was in error on a certain point.

As for you, thanks again for answering my questions. To many they might seem stupid and they might just well be. But you answered them respectfully.

Thank you.

  • #22
  • Aug 20, 2011 1:34pm Aug 20, 2011 1:34pm
Quoting QweeQwa
Looks like he deleted his post that caused your response. It makes him look very shallow! Plus, in part of his comment he was in error on a certain point.

As for you, thanks again for answering my questions. To many they might seem stupid and they might just well be. But you answered them respectfully.

Thank you.

I submitted a 'cleanup' report, along with a request that the mods ignore me if they thought I was overreacting.

I assume they agreed that his post was unnecessary, and so removed it.

Good luck in your trading. To give you a bit of a leg-up, start at http://www.forexfactory.com/showthread.php?t=308304. My ea that trades the system is to be found at http://www.forexfactory.com/showthread.php?t=309980, but you really need to understand Bob's trading system first.

  • #23
  • Aug 20, 2011 3:58pm Aug 20, 2011 3:58pm
Quoting SteveHopwood
I submitted a 'cleanup' report, along with a request that the mods ignore me if they thought I was overreacting.

I assume they agreed that his post was unnecessary, and so removed it.

Good luck in your trading. To give you a bit of a leg-up, start at http://www.forexfactory.com/showthread.php?t=308304. My ea that trades the system is to be found at http://www.forexfactory.com/showthread.php?t=309980, but you really need to understand Bob's trading system first.

Thanks for your intervention SteveHopwood.

And yes, you did the right thing, we should always discourage that kind of rude and disruptive behavior.
  • #24
  • Sep 3, 2011 5:53pm Sep 3, 2011 5:53pm
Hi Steve,

I like your idea behind the RSI... Do you have an indicator build to display that when using other timeframes...?

JMWilk
  • #25
  • Sep 3, 2011 6:11pm Sep 3, 2011 6:11pm
Quoting jmwilk
Hi Steve,

I like your idea behind the RSI... Do you have an indicator build to display that when using other timeframes...?

JMWilk
Attached File(s)
File Type: mq4 #MTF_RSI.mq4   4 KB | 285 downloads
  • #26
  • Sep 3, 2011 7:52pm Sep 3, 2011 7:52pm
Thanks Steve... I like the idea of a manual trading system too... Nothing against automation... But a reasonable manual trader would be nice...

Fisher is an excellent resource... He has the experience as a successful Pit trader... I believe his methodologies can be applied to Forex... Figuring out how is the hard part...

JMWilk
  • #27
  • Sep 7, 2011 12:53pm Sep 7, 2011 12:53pm
Quoting muzza
Try IBFX. Nano accounts 1c/pip and regulated, been around a long time.
Another reason to try IBFX is our brand new social network, IBFXConnect. Copy and follow successful traders all for free! Check it out-- we'd love your feedback.
  • #28
  • Sep 12, 2011 3:07pm Sep 12, 2011 3:07pm
I saw that you wrote "To us retail forex traders, support and resistance is everything" do you mean at the big round numbers?
  • #29
  • Sep 15, 2011 10:40am Sep 15, 2011 10:40am
Hello, I am selftought at forex through babypips.
I used the demoaccount for 2 months where I took time to learn the tools, and what I thought was my own system. After the two months I had a rather decent profit so I thought that this is something that I am willing to invest in.

A few days ago I made 10% profit of my total account, then the following day I am down 10%.

I dont have anyone to ask wheter my analysis are correct and I should go long instead of short, and vice verca, sell or buy.

I watch day high low, (dl fro FF) bollinger bands and fibo.
I dont struggle whit my mental game - I set S/L 10 pips and T/P 10 pips, at 0.10 lot

My goal is to slowly build up a bigger account, I understand that this will take time - so I am in no hurry as I want to do this as a sidejob for the rest of my life. Unless I win the lottery

Are there anyone that would like to help me look over my system and come whit hints and tips as to where I should improve or implant other tools?
  • #30
  • Sep 15, 2011 11:43am Sep 15, 2011 11:43am
I have done 5 trades today.
1: +4,60
2: +0,60
3: +1,90
4: +3,60
5: +13,40

Should I be happy whit that and just leave it there?

I lied a little in my previuos post, I hardly manage to keep profits all the way to 10pip profit - after I lost "big"
  • #31
  • Sep 17, 2012 9:04am Sep 17, 2012 9:04am
Hi,
I am in south africa and have a number of questions about having trading accounts in different countries.
I have traded stocks and warrants on the JSE for quite a while, but the costs bother me a LOT.
I would like to learn about forex trading. Hence my interest in this site.
I have looked long and hard and think I have found the best forex related forum around.
This site is a godsend (thank you) as it speaks about the things that work, PA and your own personal "headspace" in trading.
(Money management is a given)

I see there are a number of South Africans who trade forex and who are members of your forum. If there is anybody out there who would be prepared to answer specific SA related "Forex" questions it would be appreciated.
jacksprat
  • #32
  • Jul 19, 2015 11:44pm Jul 19, 2015 11:44pm
Can somebody tell me please. I have withdrawn some of my profit from my account. and rather than my overall return in percentage going up, it has gone down for my overall return, Anybody got any opinions on this. for example my overall return was nearly 200pc and now after my withdrawal it is just below 50pc.
Richie A Conway
  • #33
  • Jul 23, 2015 11:00pm Jul 23, 2015 11:00pm
greetings and thank you for allowing.

I have question of the BTC and / USD trend mapping.

Please, do you think that the method of transaction in the BTC allows for seeing new types of trends?

BTC market data is different than USD or other financial data.... If we take into consideration these initial knowns maybe we can learn more about all markets in general.

What do you think logical trader.
  • #34
  • Aug 12, 2015 1:50pm Aug 12, 2015 1:50pm
I have a question and since I cannot create a thread, here goes...

Today I made a very nice profit (+9R in total) from selling the USD, especially USD/JPY, USD/CAD and EUR/USD, but I did so based on instinct and momentum rather than the predefined setups I have written in my trading plan. So basically I had a bad and inefficient trading day - but it was profitable. And the one I took, the bullish 1h pin bar on GBP/JPY failed me

How should I deal with this?

Should I completely avoid breaking my trading rules, should I revise the rules or what do you think???

Any thoughts and feedback is appreciated
  • #35
  • Aug 13, 2015 12:48am Aug 13, 2015 12:48am
Quoting SophieFX
I have a question and since I cannot create a thread, here goes... Today I made a very nice profit (+9R in total) from selling the USD, especially USD/JPY, USD/CAD and EUR/USD, but I did so based on instinct and momentum rather than the predefined setups I have written in my trading plan. So basically I had a bad and inefficient trading day - but it was profitable. And the one I took, the bullish 1h pin bar on GBP/JPY failed me How should I deal with this? Should I completely avoid breaking my trading rules, should I revise the rules or...
There is only 1 rule.
"Don't lose your money"
  • #36
  • Aug 13, 2015 8:25am Aug 13, 2015 8:25am
Hello guys, i'm dissapointed with myself, i dont know if this is the best place to post this, but its about losing.

Right now I'm losing money, one time i made 400 from a 200 account in 2-3 days, and i already have grown an 25 account into 200 but in the end i always blow my account expect on those 400 i gained i withdraw them

I know iM blowing my account because I'm risking too much,

the problem is when i trade low lots ( I use a micro account ) i never feel good about the profit, because its too damn LOW , i deposit every new account with 100 what is your best tips for me ?

Btw i would love to see or talk with a "Real Trader" to get some ideas.

Any one can help me ?
  • #37
  • Aug 13, 2015 9:38am Aug 13, 2015 9:38am
Make a larger deposit if you are not satisfied with the profits from a small account. No matter what size account you have, you always have to use good money management. It's like bankroll management in poker. If you have $100 in your account you wouldn't sit at a table that the buy in is $50 or $100, you would have to play $2 to sustain inevitable losses from time to time. Even sitting at a $5 table could be possibly a bad idea since you only have twenty $5's and it's possible to lose 10 buy ins in a day.

Safety first
  • #38
  • Sep 3, 2015 4:31am Sep 3, 2015 4:31am
I still believe forex is all about mathematical logic. Despite the vast things one needs to trade, success in forex relay majorly on the understanding that forex is all about logic, you don't have to know everything, but you can just think logically and get it right. I once saw a video on FxPro how the guy guiding the webner talked about logic, it was good, I guess, upon evaluating this video on an individual basis, I realized, it was all I need to understand, logic!
  • #39
  • Sep 15, 2015 9:16pm Sep 15, 2015 9:16pm
can someone please tell me why these trends are so different. One is bullish while the other is bearish and which one to trust?
Attached Image (click to enlarge)
Click to Enlarge Name: WTF.JPG Size: 331 KB
  • #40
  • Sep 15, 2015 11:13pm Sep 15, 2015 11:13pm
Quoting xf4ct0r
can someone please tell me why these trends are so different. One is bullish while the other is bearish and which one to trust? {image}
Trends are always different. Trust your own judgement.
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