What should you be doing? -
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thread: What should you be doing?

  1. #21

  2. #22
    Welcome to Thursday. The day has lots of news, particularly to the US Dollar and therefore we should be looking for opportunities to join the bullish trend for the Usd, following the recent return. What I want to talk about today is persistence.

    Somewhere at the Rookie section there's a ribbon with a title such as Does back testing work? Also it mainly deals with Robot Trading or so called Expert Advisors. Unless you are a seasoned trader I'd stay away from these. (a) you want to be a skilled trader to appraise the performance. (b) You want to be a skilled developer to correct their functionality. So lots of work to do to best those thoughts. See article 21 above. But back testing manually has taught me that there's a fantastic opportunity that straddle trades operate on the daily chart if exchanged correctly. So I am ready to trade them. I understand they mostly work because I have personally completed the analysis using a pencil and paper.

    Anyhow. Persistence. If we look at the simple straddle trade clarified in article 38 previously, we find that it roughly created 1 : 1 based on where your stop loss was put, then reversed abruptly and is currently threatening to go another way. I was fortunate, I moved my stop loss to a small profit, but it did not go to 1 : 1 for me personally. Now I am taking the straddle trade another way. There's a strong possibility that individuals who, like me, got the direction wrong, will close their shorts. What's a closed short? It is a buy order.

  3. #23
    Monday again. Are we rested and relaxed after the weekend? We ought to be, and I'll run the risk of being boring here. Surely not, ? Let us develop good habits - eating, sleep, exercise and plogical intelligence.

    Forex trading puts some unique plogical pressures, calling for a self consciousness and discipline that can be demanding. Beginners can be caught up in gambling habit, in itself damaging plogically, however, the cruellest blow is if we've got a run of unsuccessful trades that have been properly planned and implemented. What other job can cause us to work hard, plan and implement our egy, just to get rid of money?

    Oh I forgot the most important excellent custom - have fun. Bye for now.

  4. #24
    Junior Member lurefe's Avatar
    23
    My Rod is so long so cheep it will make girls cringe
    lt;lt;lt;

  5. #25
    Junior Member Jttelight's Avatar
    25
    Quote in the article :This gave us the opportunity to play with these high up the ladder and then poke them with an extremely long and affordable stickhttp://www.babypips.com/school/presc...#ixzz3VYSLysMT

    My stick is long so cheep it will make girls cringe

    Its a good article and babypips did an awesome job in re-structuring and re-writing their learning centre into a new unique loion all novices must be studying and re-reading everything in babypips.

    The tools and data new traders have supersedes all of the info we had the old school traders because rivalry got more intensive as regulation increased. So knowledge became the instrument of recrunt, and much better and more transparent data now exists. While before, it had been walking in the dark using pamphlets that supplied a number of the picture, but not a lot of it and just lots of expertise and inner knowledge unveiled that required a lot of time and effort to get. So traders your lucky now, and all of the knowledge is available in addition to trading is much more fairer now then it was a lot of people still think that everyone wishes to mass together, and its not true brokers want your organization and the majority of them do not want to jeopardize it. Forex market is as less hot potato it was because of a lot of negative twists and restrictions. So new people are not as drawn to it, since they hear awful things.

    The fact is everyone wants forex to be just like an ATM and spit out money at them, and for whatever reason people do not enter stock market cause its complex yet forex some the way in comparison looks simpler, but in reality it is more complex then bonds or stocks or futures. Forex has more moving parts and larger more complied worldwide mechanism where rules and regulations differ from time zone to time zone and all this bunch ends up in the middle where everyone of every size is able to barter on a value of something that is derived from debt. Literally money = Debt that's how money is created so more debt = more money. So next time you buy a car or a house you have just created more money into the economy by creating debt.

  6. #26
    As always a pleasure to see your posts..keep these coming. .

  7. #27
    Junior Member servigo's Avatar
    24
    Very good points in this thread.

  8. #28
    If ever you wonder if you should be endangering your broker or if somebody is chasing your stop, think again. Take a look here: http://www.babypips.com/school/presc...structure.html. A fast study of market structure will place you right. Open a few demo accounts and exchange them. You'll come across various brokers have various characters. Most will be within half an pip of one another on price, but you will be interested to find the distribute differs at news release time.

    Some brokers won't let stop orders or pending orders over 5 pips of the current price. I presume that is so they have time to put off big orders. I won't utilize those brokers. Most of my transactions are pending orders which are stop orders which mean the price is already going my way before my order is executed. Your method might change from this, but it is worthy of thought.

  9. #29
    utilize cliqforex's excellent Calendar attribute to analyse what moves previous releases caused and how they might possibly profit from that understanding .
    Profit from that knowledge.

    I just need to pick up on that term. A few years back I spent many hours back studying and forwards analyzing egies using indiors. I suggest that anyone new to this topic should do the same. The distinction here is between indiors and price (price action). I really don't need to blindly tell you not to use one or another. You need to learn on your own. But allow me to provide an example of what can happen.



    On this particular hourly chart we can see how the price doesn't wish to break the red line. Any indior under sunlight would tell you it's OK to brief to that line. Now check where that line comes from. Yes, it is a level from 10 months past:



    I dare say you could discover previous price action at the level. If you do that work, you'll save yourself a lot of pain. In the upcoming few articles I'm going to give examples of where indiors work and where they do not work.

  10. #30
    Junior Member lurefe's Avatar
    23
    Smikester, I wish to discuss something if you do not mind.

    As I observed, nearly in 90% of a time, price fills enormous shadows gradually.

    Below is instance of EUR/USD H1 chart.

    I hope it's going to be helpful for newbies.


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