Recent content by £80

Did this skype group start or is it still in planning phase?

I have a lot of respect for you guys. Reading through the forum looking at how I can help traders but its quite difficult. I find that some one else might not understand something the way I do. All you guys that have been on here for the longest time guiding the newbies, you guys are doing a...

You have £200. Basic money management says you should never risk more than 2% of your capital (£200) on a trade. So that means you will risk £4 in order to get a reward of whatever you choose. If your R:R is 1:2 that means you risk £4 to get a reward of £8 That is as simple as I can put it

This depends on your win loss ratio.

sorry. 1:1 R:R

I personally place my stop at a point where I know if the trade passes that point I am wrong about that trade. I usually aim for 1:1 as my first target but as I am typing this I realise that it also has a lot to do with your strategy/system.

I am assuming you are a technical trader if not ignore everything I say. Every one is different. People look for different reasons but what is constant among traders whether they be profitable or not is the trend. The other constant is support and resistance. This comes in various forms eg...

A few years ago I would enter about 4 trades a day. I have slowed down a lot since then, now I take maybe 2 to 4 a week.

This is something you need as well, a trading plan.

In terms of preserving your capital I think the basic 2% rule is a good place to start. I know for a lot of traders a spreadsheet is enough but for me I needed pictures as well. The pictures gave me an idea of what exactly was going on in the market when I took the trade. I usually go over my...

Hi Revorocks It is exactly that good strategy and money management that helped me become profitable but not why I became profitable. Some time ago I placed one trade that I consider to be the best trade I ever placed. I had everything under control in terms of emotions and trade management. I...

I do agree but personally I think everyone should understand money management first.

I was just curious. Ftse is fine, it will be even better when you understand the rhythm of it and when to trade it and when not to trade it. Do you have a strategy/method/system that you are currently trading? Do you understand money management? Do you have a trading Diary?

Hi Cowlinn Just a random question. Why trade the ftse?

I have been trading for many years which started in 2006. In 2009 I started a thread on t2w and that is when I had my first profitable month. Click on my stats and you can read all about my mistakes as trader and a bit of how I started. I am still trading the only difference from then and now...