Hi Everyone :)

[BrunoBarreira]

Hi!, I'm new around here, and new to trading also, I've been trading in Euronext Lisbon market, as i am Portuguese
I've earned good money in it and now have 3300€ in my account.

Recently my father started to trade in the Forex, more specifically XAUEUR, and he started with 10.000€ and now has 16.000€ in one month and a half. I am also planning to trade in the same market has he is BUT! he trades with nothing more than he's gut felling which worries me a lot. Today he had his first loss of 1600€.

As I am very new to this market, i started to simulate an account and trading in XAUEUR, the first day I've made 290€, and didn't tried anymore, BECAUSE, i don't know how to trade very well and i am insecure about trading my own money...it was hard earn by working a hole year.

Anyway, what influences this market? I Google it and i found little to nothing about it, no news, no nothing, i don't know what influences it! Can anyone give me help?

Thank you very much

 

[BrunoBarreira]

Please could someone give me some advice?

 

[Jaydee]

Hi Bruno and welcome to T2W.

I'm afraid I don't know anything at all about XAUEUR but this board has a wealth of knowledge between all of its 100K+ members, so I hope someone will be able to help you here.

Really, I just wanted to address the first couple of paragraphs you wrote concerning yourself and your father.

Gut instincts are fine once you become experienced. However, intial gut instincts are to run losses and cut profits - a surefire way to go broke. Without wishing to sound insulting, it's possible that you have made money so far though a bit of good luck. I would, therefore, recommend that you only risk 1% of your account on each trade - it is vitally important you develop a risk management system. Your dad just lost 10% of his account - this is a frighteningly large amount to lose on one trade.

Sorry I can't help with your actual question but I hope my advice keeps your account (and your father's) whole.

All the best

JD

 

[BrunoBarreira]

Thanks Jaydee for replying

Your are truly right, this until now was just good luck, but I don't want to rely on good luck, gut felling now it's not reliable to me.
You are right about going broke, i may end up there if not cautious, you are not insulting in any way, just giving good advice.

I will, when trading for real, risk as minimum as i can, which are 50ouces.
For now I will only simulate, and do some graphical analysis and keeping an eye on some tendencies, like 12:00 am to 1:00 pm...in which almost 70% of the times always goes down...dunno why :| , but i guess everyone goes to launch

 

[Victor90]

Best advice ever: remmeber to have a good risk/reward. If you always aim to make 1 and half more than you are willing to lose your gonna be fine in most cases.

 

[BrunoBarreira]

Thanks Victor I'll keep that in mind for good opportunities

Thank you both

 

[grantx]

Bruno,

If your doing well with Euronext, why do you want to switch to fx? The two have little - if anything - in common, so success in Euronext doesn't necessarily translate to success in fx. Stick with what you know and what you are good at.

Grant.

 

[BrunoBarreira]

Grant, your right. But lately, all the stock market is failing,little to no profit can be done right now, Euronext Lisbon, has been closing red many days straight. I know that they are totally different, Forex is totally other thing, but it's giving good money at a risk though.

The only way i have is to continue to simulate, to practice.
But it kind of makes me mad, today I've made 490€ in XAUEUR, but tomorrow I'm afraid that i can lose 1000€ for example. This is so frightening