Basic trading guidelines for optimal results
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thread: Basic trading guidelines for optimal results

  1. #1
    Junior Member Ticki's Avatar
    22

    Basic trading guidelines for optimal results

    Before you begin trading, you have to realize that you are not gambling. If your heart beat is racing while the pairs are moving, you're doing it wrong. Trading is just like every typical daily task: damn dull and repetitive. The idea is not to become a millionaire in a commerce; rather the notion is to live the market and make a living from it. Few things you have to need to understand before you begin your trading practice: 1). Money direction 2. Trend identifiion. Finally, 3. Support and resistance identifiion.

    Money Management

    Let me begin with the elephant in the area: money management. There is nothing more important than this factor. Folks always end up blowing their accounts because they ignore this indispensable part of trading. Alright, let me go straight to the gist of it. To start with, You cannot risk more than 2 percent of the capital you're investing on any 1 trade and I cannot stress enough on this point. 1 major component that contributes to this volume you'll be risking is your STOP LOSS. SLs are very important because they determine the lot size you need to adjust before you put your trade. Brokers permit you to transfer your Sl should you wish to BUT YOU SHOULD NEVER EVER MOVE YOUR STOP LOSS EVER once you've placed your trade. Why? Well, because your stop loss is that 2% we talked about before. You need to adjust your lot size in accore with your stop loss. Then, the idea is to gain at least 1:2 in the trade but ideally you want 1:3 to be profitable in the long term. If you master this basic trick, if you're able to control yourself rather than go your sl, never exchange more than maximum 2% afterward you have a chance to live in this market. I'm going to join the mt4 indior which will do the dull maths for you and will provide you the lot dimensions based on your stop loss Attachment 2240036 . Now, there is lot more to this 1:2 and 1:3 philosophy which I have not contained in here. You have to do your own research on it before you begin your trading practice.

    Trend Identifiion

    This is perhaps the hardest for most newcomers and professional alike. There is nobody way out there to achieve that. Thousand upon thousand of indiors are all out there which will assert that they will identify trend but to be very honest, they are nearly useless. Personally, I'm a sucker for simplicity therefore that I only use 3 SMAs to determine trend: 200, 50, and 10. The idea is simple, if the price is below 200 it's down trend and vice versa Attachment 2240048. There're fundamentals which also play a very important role in deciding the fashion and if you're the pupil of economics then you may have an edge above, let say someone like me, that do not completely understand the macro economics. I solely base my trend identifiion on those 3 SMAs I mentioned earlier and so far I am doing well.

    Along with trend identifiion, you must also pay attention to price patterns. The main reason I am not going to talk much about it is because it is a really in depth topic and require it's own separate forum. But simply to give you an overview: prices do not always move in 1 direction; if the trend is up then the price will go up for some time, return, then might continue moving in that way. At least this is the major idea. There're lots of uncertainty and discussion whether the price will probably move again in that way or not generally they do.

    Support and resistance

    Before I begin explaining the value of SR, let me provide a concise definition of each one of these for the real beginners.

    Resistance: The imaginary point where the price stopped the final time when it was up trend Attachment 2240066.

    Service: The imaginary point where the price last stopped when it was in a downtrend Attachment 2240071.

    Since you have to've noticed by now that both of these are fanciful lines and so very hard to determine. There is nobody way to determine which is a appropriate support or resistance. I'm going to join the indior use to determine that Attachment 2240073Attachment 2240073 but by no means, it is the only one or the best one. Shop around to get a much better one and if you do come across one, do allow me now. Or, if you know a better way to compute them than please do share this info with me. But something is very clear: you should NEVER put your trade without knowing them.

    I've talked about STOP LOSSES sooner and mentioned how important they are and how you should never put your trade with them and the best way to determine your stop loss is your service or resistance.

    The idea to develop into a successful trader is not a make lots of money in the shortest period of time but rather it is to endure the market. Should you practice patience, place only .5% of your capital, like I do, and receive at least 1:2 of each trade you put then, I promise you, you will last very long and you'll always be over your first capital. These clinics are applicable on all time frames; however, I use range bar chart which completely remove time and reveal pure price. It works for me however, does not always function as the cup of java. I will include things like that only if you need one. Very good luck everyone and do not hesitate to ask me some question. Attachment 2240077
    https://www.cliqforex.com/attachment...1716570488.mq4
    https://www.cliqforex.com/attachment...6698994196.mq4

  2. #2
    Junior Member oxdnice's Avatar
    20
    Hy fxfast,nice article about trading. quote I utilize 25 percent of my funds on single entry at 400:1 leverage and choose only the finest possible entry based on my trading platform and expertise , no SL ,appearing to have the ability to endure 100 pips against me and appearing to a benefit from 4:1 to 10:1. If the market go against me I will Begin to scalp against my initial entry to pay for the damages.I did this last 7 years with great succes and I build an ideal system that allow me to become very agressive.The agressivity and expertise will decide that the amount...
    I can totally relate to this and even thought im not that new for this any more and still not quite succesful I still share this doctrine

  3. #3
    Junior Member Ticki's Avatar
    22
    Hy ,fine article about trading. quote I personally use 25% of my capital on single entrance at 400:1 leverage and choose only the best possible entrance based on my trading platform and experience , no SL ,looking to have the ability to survive 100 pips and looking to some benefit from 4:1 to 10:1. If the market go against me I will begin to scalp against my initial entry to cover the damages.I did this last 7 years with great succes and I build an ideal system that allow me to become really agressive.The agressivity and experience will determine that the amount...
    To believe risk all your life saving on one trade or find another occupation, is lunacy. Clearly, you guys have never exchanged with actual cash on your life or you would never have said something as absurd as that. Or, maybe your parents have left you a treasury. However, to think that this market is simply for gamblers, is childish thinking, rather than for serious traders. Fantastic luck on your transactions.

  4. #4
    Junior Member Ticki's Avatar
    22
    Hy ,fine article about trading.Many of new traders has alot to find out in this article.
    My pleasure 584

  5. #5
    Hey. Nice writting.

    Id like to take the Chance to piss you off a bit.

    Your claim that one needs to follow the two % risk/trade is taken from thin air and shouldn't be shouted out as a religion. It has to be placed into perspective into what trading system your are after. If your shooting 100 transactions per day on the 15min, you have a point. However, if your position trading (holding rankings for 3 month or even more) I'd dispute that you can up your risk (as a retail trader). If your holding a hedge fund with #150million I really could comprehend the rigorous riskmanagment however as a retail trader, I think you should, first off find a egy which you're familiar with, then suitably apply a % per trade which you're willing to risk.

    Basically, what im wondering myself is why 2% is the golden number, there is no statistical or proven data that 3 percent is what keeps you going.
    Anyhow, whats your thoughts?

  6. #6
    Junior Member Ticki's Avatar
    22
    Hey. Nice writting. Id like to take the opportunity to piss off you a little. Your claim that one should follow the two % risk/trade is taken from thin air and should not be shouted out as a religion. It needs to be put into perspective in what trading platform your are following. If your taking 100 transactions every day on the 15min, you got a point, absolutley. However, if your position trading (holding rankings for 3 month or even more) I would dispute you could your risk (as a retail trader). If your holding a hedge fund 150million I could understand...
    I'm not so easy to piss off lol. Anyway, there is no magic amount for the %; that came from my personal experience of 8 decades of trading. Personally, I exchange with .5% but then again I have much larger amount riding on forex so, I can take .5% but it's not for everybody I concur particularly if you're trading with $2000 or not. 2% is merely the best number which allows you to survive in the market for a little longer that is all. Larger your percent, more you are exposed and as you likely know: you cannot be 100% confident about any trade no matter how strong the trend is and how confident you're that it WILL go in that direction; hell you can't be even 50% confident about any given trade. Take current GBP/USD for example; it's on an uptrend but is it 100% sure and risk 5% of your initial funds on such trade or 50 percent or 100%? No, you cannot. However sure you're, you ought to be careful and that is that 2 percent is nothing more.

  7. #7
    I had problem to atach
    PositionSizeCalculator_Separate on my mt4 can any one help me please

  8. #8
    Junior Member Ticki's Avatar
    22
    I had problem to atach PositionSizeCalculator_Separate on my mt4 can any 1 help me please
    What is the issue?

  9. #9
    It can not be viewed , ihad placed to specialist - indior then I attempt to utilize it doesnt appear

  10. #10
    Junior Member Ticki's Avatar
    22
    it can't be viewed , ihad placed to pro - indior then I attempt to use it doesnt appear
    Don't put it in the expert folder. Set it in indior folder and it will look in customs. I'm including mq4 in case that is what is missing. https://www.cliqforex.com/attachment...9739584707.mq4

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