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Please Teach me how to trade for long and short term

  • #21
  • Nov 10, 2015 6:44am Nov 10, 2015 6:44am
Quoting PrideTrader
{quote} i didnt have that time to staring my monitor...
However that's what you will have to do if you want to learn something ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #22
  • Nov 10, 2015 7:27am Nov 10, 2015 7:27am
Quoting FerruFx
{quote} However that's what you will have to do if you want to learn something ...
then lets make it long term sir? lol
  • #23
  • Edited 11:57am Nov 10, 2015 10:02am | Edited 11:57am
Quoting PrideTrader
that means if u play a scalping system, your money will be used just to pay for comission.

Exactly so. Scalping systems are for very experienced, professional traders with spreads of around 0.1 pips and low commission charges. It's close to unimaginable that you could do well from it, as a beginner, using a counterparty market-maker as your "broker".

In short scalping, for a beginning trader is a pretty sure-fire way of stacking the deck against yourself.


Quoting PrideTrader
2. i set the SL for 5pips, is it ok?

Almost certainly not. It's very small, unless you're a highly experienced trader with a high win-rate trying to scalp multiple small targets, intraday. A stop-loss of 5 pips and a spread of 3.5 pips isn't a recipe for success!


Quoting PrideTrader
3. i want to learn for long trade. cause from what i see, its eesier that way, and more profitable.

That's probably right, especially when you're starting.


Quoting PrideTrader
i just cant see how to buy or sell and when amd how many pips i need to stop loss well

What you need at the moment is education, not just practice.

The Babypips "school" pages, mentioned above a couple of times, are one possible starting-point. Another (or to follow that) would be a good beginners' trading textbook (example: Trade Your Way to Financial Freedom by Van K. Tharp).

I think you're much, much better off with some beginners' textbooks than with online tutorials, overall. This is why: there's no "informational quality control", online: anyone can publish anything offering advice, especially when (as is the case with many online tutorials) they have some additional services/products to promote. There's some good information among it, doubtless, but when you don't yourself have the experience and judgement to identify it confidently, it's a real lottery, depending on advice from online "information". In contrast, longstanding, recognised, accredited textbooks published by mainstream, orthodox publishers have (a) stood the test of time and (b) undergone extensive and authoritative peer-review before ever seeing the light of day in the first place.

Trading is about "getting the odds in your favour", and so is learning to trade. Choosing to learn from well-established textbooks rather than from tutorials is doing exactly that.

Be aware that very few beginning traders ever really become successful, and people's failure to do this is one of the reasons why. There's a huge amount of misguided "information" about online, but far less in authoritative textbooks. Be careful by whom you choose to be guided. And good luck!
  • #24
  • Nov 11, 2015 6:51pm Nov 11, 2015 6:51pm
thank you soo much Xela... i really appriciate your opinion. for now i will diligently learn and buying book then practice... thanks anyways
  • #25
  • Nov 11, 2015 7:30pm Nov 11, 2015 7:30pm
come back in 10 years. lol. my advice would be for you to learn another skill. Its not math skill or a training issue...... - its can you look at a chart move and finish it in your head....
..this is gambling at best and the house gets the edge of the spread.....
I think your better off learning web design or starting an internet site selling some type of supplies. Heck, Viagra or bootleg cigarettes.
If others want to say how they made millions - great- sell this guy some books - there is a suker born every minute.
  • #26
  • Nov 12, 2015 5:14am Nov 12, 2015 5:14am
Hi PrideTrader,

i aint no guru but all i can say is you must really have to passion for the markets to stick through the thick and thin during your journey to become a consistent, profitable trader.

i am still on my journey but i hope to point you these 3 essentials in the makings of a trader.
1) Psychology - Trading is about probability, are u able to handle drawdowns while keep your steely determination to continue trading? (law of large numbers means if you have a statistical edge you will come out positive in the long run)
2) Edge - Blind trading will lead u nowhere whereas a statistically repeating pattern may give you better odds of success. Why if you're not confident of what you're trading, would you ever put your money when u know that its not gonna work out?
3) Money Management - Do u treat trading as a business? Just as how profits = Revenue - Losses, your returns will be based on total wins - total losses...so do u have the patience to build it brick by brick or will u just gamble it all.

Good luck to us mate!
  • #27
  • Nov 12, 2015 7:44am Nov 12, 2015 7:44am
Quoting PrideTrader
hi, i am from indonesia. i am start to leanr about FX for about a month ago. and i am still using demo account. its been 2 weeks in my demo account. here some problem that i found. 1. Comision is about 3,5 pips, people say its easy to get. but i found it hard. the hard part is, when u loss, u still pay for it. that means if u play a scalping system, your money will be used just to pay for comission. 2. i set the SL for 5pips, is it ok? 3. i want to learn for long trade. cause from what i see, its eesier that way, and more profitable. but...
I just want to ask how do you have fixed SL = 5 pips? Did you hear about resistance and support levels?
  • #28
  • Nov 13, 2015 3:32am Nov 13, 2015 3:32am
Quoting PrideTrader
{quote} well, i do make it 5 pips. and the result is with today trade, i lost all of my trade. the swing is too big for my 5 pips SL. but the worst part is all trade that has closed in loss rebounded. so if u willing, can u explain to me more? lol
Use this script it's pretty cool and I find it very useful. It sets stop loss and TP automatically based on 1% risk of your account. Depending on the time frame you trade it will set the stop loss ATR * 3 and ATR TP * 4. All you need to do is drop the buy or sell script on your chart and it will open an order with risk of 1% to your account each time TP/SL included. So you will not loose more than 1% everytime. And another thing this ensures your stop loss is not too tight. Except on the 1 min chart you may have to modify the multiplier due to the spread maybe a *4 or a *5.

I found the script here http://www.forexfactory.com/showthre...09#post3714809
Attached File(s)
File Type: mq4 Manual_Trade_Long_ATR.mq4   16 KB | 371 downloads
File Type: mq4 Manual_Trade_Short_ATR.mq4   16 KB | 322 downloads
  • #29
  • Nov 15, 2015 8:49pm Nov 15, 2015 8:49pm
well thanks for all of your answer dude.
about support n resistance, i have apply them sometime, and its quite usefull. i hope i can still learn more and more. i am using Boilinger and MACD for trading now. Any suggest?
  • #30
  • Nov 15, 2015 9:02pm Nov 15, 2015 9:02pm
my advice is to research "price action", and read whatever free articles you can get your hands on. i would make recommendations but i don't want to be appearing to be promoting or pushing any particular site. when i first started i studied babypips as others have suggested here, i read through forum after forum, but i really felt lost and like i was stumbling from one thing to the next, until i discovered price action. then it started really making a lot more sense to me. then i focused in on that like a lazer beam. five + years later, it hasn't all been roses, but i have definitely turned a corner in my trading good luck to you...and be careful, some make it, the vast majority do not.
  • #31
  • Nov 15, 2015 11:28pm Nov 15, 2015 11:28pm
Quoting PrideTrader
hi, i am from indonesia. i am start to leanr about FX for about a month ago. and i am still using demo account. its been 2 weeks in my demo account. here some problem that i found. 1. Comision is about 3,5 pips, people say its easy to get. but i found it hard. the hard part is, when u loss, u still pay for it. that means if u play a scalping system, your money will be used just to pay for comission. 2. i set the SL for 5pips, is it ok? 3. i want to learn for long trade. cause from what i see, its eesier that way, and more profitable. but i just...
indonesia, langkah belajar:
1. pelajari pertama diri sendiri, pahami diri sendiri, dan bentuk diri sendiri. karena penentu keberhasilan adalah berangkat dari inner. maksudnya apa belajar mengkaji diri? bagaimana kesabaran kita, bagaimana konsistensi, persistensi dan banyak hal lain dalam diri kita. nah cari itu kupas.
2. bersamaan dengan pengkajian diri, psikologi dll maka pelajari hal mendasar tentang forex. forex berbeda dengan index, apalagi saham. forex adalah pairing atau pasangan, sedang saham non pairing, contoh sederhana EUR/USD, USD/JPY. kalo saham non pair contoh TLKM yaa saham telkom. seperti hal sepele tapi itu pembeda yg super.
3. terus belajar tentang teknik, disini coba cukup perhatikan saja dulu pergerakan harga pricing dan coba imajinasikan. buka semua chart time frame dari monthly sampai m1 menit, di situ nanti akan mulai bisa makin melihat.
4. meski saya trade non indicatoric pada akhirnya, tetap perlu dan penting coba pelajari semua indicator yg tersedia. cukup yg tersedia ndak perlu cari indikator lain lain. kenapa perlu belajar tentang indicator, krn itu untuk makin memahami ujungnya nanti bahwa indicator terbaik adalah HARGA itu sendiri.
5. hati hati dengan semua iklan, coaching, gurus, training, apalagi iklan penjual sistem. ndak perlu dilihat wkwkwkwk
6. hati hati dengan pengertian longterm dan shortterm. karena bisa menjebak, merasa sebagai longterm maka posisi di floating minus ditahan ujungnya minus guedhe dan amsiong hihihihi.
7. prinsip no 1 trader adalah PRESERVE CAPITAL alias jaga bener capital modal kita alias mainkan dengan resiko yg paling kecil. ingat dengan resiko paling minim sebenarnya profit malah gedhe.
8. setelah lumayan menguasai semua hal diatas, persiapkan modal uang "BELAJAR". maksudnya apa, maksudnya adalah buka lah akun mini atau mikro atau bahkan sen dengan uang real nyata yang memang anda siap bahwa uang itu katakan habis dalam rangka belajar. ingat "siap" bukan berarti sengaja biar habis. belajar demo dengan belajar real money itu beda banget. bumi dan langit. anda tidak akan dpat apapun dari demo account, karena psikologis tradingnya tidak akan dapat.
9. jangan pernah berhenti belajar.

we don't predict, we only ride
  • #32
  • Nov 16, 2015 1:48am Nov 16, 2015 1:48am
Quoting PrideTrader
well thanks for all of your answer dude. about support n resistance, i have apply them sometime, and its quite usefull. i hope i can still learn more and more. i am using Boilinger and MACD for trading now. Any suggest?
S/R BB MACD i use it now and watch red news.
what ever it takes
  • #33
  • Nov 25, 2015 7:07pm Nov 25, 2015 7:07pm
Quoting cakrajaya
{quote} indonesia, langkah belajar: 1. pelajari pertama diri sendiri, pahami diri sendiri, dan bentuk diri sendiri. karena penentu keberhasilan adalah berangkat dari inner. maksudnya apa belajar mengkaji diri? bagaimana kesabaran kita, bagaimana konsistensi, persistensi dan banyak hal lain dalam diri kita. nah cari itu kupas. 2. bersamaan dengan pengkajian diri, psikologi dll maka pelajari hal mendasar tentang forex. forex berbeda dengan index, apalagi saham. forex adalah pairing atau pasangan, sedang saham non pairing, contoh sederhana EUR/USD,...
thanks banget buat pembelajrannya pak !
saya masih mencari cara yang cocok, tapi untuk yg poin no 8.
di pialang saya minimal $1000 pak. cukup besar, tapi msh bisa di tanggung lah.
sebelumnya saya punya pertanyaan tambahn. bagaimana anda dengan sistem copy trade? pialang saya cukup terpercaya. merupakan pialang bisa dibilang terbesar di indonesia. dan mereka menawarkan sistem copy trade. namun saya masih ingin melihat plus minusnya. ada saran pak? hehehehehe
  • #34
  • Nov 26, 2015 11:49am Nov 26, 2015 11:49am
Quoting PrideTrader
hi, i am from indonesia. .........i am using monex demo account.
monex , please check it out about your broker http://ekonomi.metrotvnews.com/read/...utuhan-nasabah and
Inserted Video
and local forum http://www.kaskus.co.id/thread/55dbe...erasa-ditipu/1

and i'm not IB from any broker i'm just share it for your own good.
what ever it takes
  • #35
  • Last Post: Dec 8, 2015 5:28pm Dec 8, 2015 5:28pm
The only way that you will learn how to trade is through practice and read all the posts in the forum most people make heaps of mistakes before they get it right but im still learning after 4 years so dont expect to get rich overnight
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