First trade advice

Lloyds Bank · Nov 3, 2013

I'm going to be making my first live trade sometime next week. I plan on going in £10 per pip on possibly EUR/USD or GBP/USD, and hoping to collect 10 pips. I was hoping for some advice or any tips anyone can give me, it'll be much appreciated.

Shakone · Nov 3, 2013

Lloyds Bank said:
I'm going to be making my first live trade sometime next week. I plan on going in £10 per pip on possibly EUR/USD or GBP/USD, and hoping to collect 10 pips. I was hoping for some advice or any tips anyone can give me, it'll be much appreciated.

What are you prepared to lose to gain those 10 pips?

If it moves against you 10 pips will you close the trade?

My tip is that you shouldn't do it unless you've already traded profitably on demo for a decent period of time.

spinola · Nov 3, 2013

I'm going to be making my first live trade sometime next week.

I was hoping for some advice or any tips anyone can give me

Don't.

But it really doesn't matter if you do, I mean , how do you think people get paid in the biz ? They need people like that to take money off them.

Good luck, but make it £20 or £50 a point to start . And keep on doing it.

Cheers.

pboyles · Nov 3, 2013

Lloyds Bank said:
I'm going to be making my first live trade sometime next week. I plan on going in £10 per pip on possibly EUR/USD or GBP/USD, and hoping to collect 10 pips. I was hoping for some advice or any tips anyone can give me, it'll be much appreciated.

Spreadbetting forex at £10 a point? Sounds like a great way to waste your money.

Purple Brain · Nov 7, 2013

allycapozz said:
you could go well maybe if operas at the time with EURUSD and USDJPY otherwise since I have realized that is muven in the opposite direction

Wise words indeed.

Not seemingly in any particular order or in context, but wise and probably all the more meaningful for their lack of immediate sense.

neil · Nov 7, 2013

Purple Brain said:
Wise words indeed.

Not seemingly in any particular order or in context, but wise and probably all the more meaningful for their lack of immediate sense.

In a sort of non literary abstract sequence of hidden meaning waiting to be mined in a novel fashion.

PualoP · Nov 7, 2013

How big's your stop and account?

Purple Brain · Nov 8, 2013

neil said:
In a sort of non literary abstract sequence of hidden meaning waiting to be mined in a novel fashion.

Well yes. I much prefer accidental Zen to that awfully artificial deliberate stuff - seems to go against the grain.

The very absence of immediate meaning permits a deeper meaning to come to expression in it.

lee.belisar · Nov 13, 2013

Lloyds Bank said:
I'm going to be making my first live trade sometime next week. I plan on going in £10 per pip on possibly EUR/USD or GBP/USD, and hoping to collect 10 pips. I was hoping for some advice or any tips anyone can give me, it'll be much appreciated.

The first thing a trader should have to become a successful trader is sufficient knowledge about Forex trading. Second is training and experience. I guess, you already have those needed. So what can I say but happy trading and good luck. I hope we can share tips and advise about Forex soon. Newbie trader here.

kimo'sabby · Nov 13, 2013

Don't hold any entry method as sacred, they're ten a penny and all pretty much useless on their own. Fibs, news, BOs, you name it, they all need that sublime touch to make them work. You can have this initial lesson for free!

NVP · Nov 13, 2013

PualoP said:
How big's your stop and account?

sadly I predict they will be very similar in value very quickly

N

NVP · Nov 13, 2013

Lloyds Bank said:
I'm going to be making my first live trade sometime next week. I plan on going in £10 per pip on possibly EUR/USD or GBP/USD, and hoping to collect 10 pips. I was hoping for some advice or any tips anyone can give me, it'll be much appreciated.

Hey LB

dont worry to much about the jokes and ribbing going on ...its all part of joining the T2W gang........you will need a few hundred posts under your belt before people realise you are not here for just 10 mins like most newbies

just try to spend a lot of time researching and Demoing first before you start playing for real money ......

this game is a marathon and not a sprint ....:smart:

N

Mr. Charts · Nov 13, 2013

I can see why Lloyds Bank managed to lose a lot of money.

lee.belisar · Nov 17, 2013

kimo'sabby said:
Don't hold any entry method as sacred, they're ten a penny and all pretty much useless on their own. Fibs, news, BOs, you name it, they all need that sublime touch to make them work. You can have this initial lesson for free!

I actually don't get it. Pardon me. But can you tell me more about it. Thanks.

rrayne20009 · Nov 20, 2013

lee.belisar said:
The first thing a trader should have to become a successful trader is sufficient knowledge about Forex trading. Second is training and experience. I guess, you already have those needed. So what can I say but happy trading and good luck. I hope we can share tips and advise about Forex soon. Newbie trader here.

glad to see you here.i am also noob trader and I see your advice helpful.

lee.belisar · Nov 20, 2013

rrayne20009 said:
glad to see you here.i am also noob trader and I see your advice helpful.

My knowledge about Forex trading is not that enough for me to be called as subject matter expert. What I'm sharing is just the things that I learned from other traders here too. Also some are just my ideas on how to get Forex trading done in a better way. I'm glad you find those helpful. Just interact with other members too so you'll learn more, that's for sure.

hungcable · Nov 20, 2013

lee.belisar said:
I actually don't get it. Pardon me. But can you tell me more about it. Thanks.

Don't listen to kimosabby, he trades forex haha, not the most logical or rational markets for retailers to be involved in. aslo, he choose oanda (spread wideners)...may as well go with uk broker...duh

lee.belisar · Nov 21, 2013

hungcable said:
Don't listen to kimosabby, he trades forex haha, not the most logical or rational markets for retailers to be involved in. aslo, he choose oanda (spread wideners)...may as well go with uk broker...duh

I do trade Forex too. Newbie here. But I do not trade live yet. I'm still practicing a gdmfx demo account. Its been more than two weeks now. I am actually here to learn more about Forex trading.

hungcable · Nov 21, 2013

lee.belisar said:
I do trade Forex too. Newbie here. But I do not trade live yet. I'm still practicing a gdmfx demo account. Its been more than two weeks now. I am actually here to learn more about Forex trading.

Bet you haven't even got a general plan together that makes sense, like a big jigsaw, every piece has to fit logically. You trade forex with gdmfx?? Now i'm spitting my tea and toast!

kimo'sabby · Nov 21, 2013

hungcable said:
Don't listen to kimosabby, he trades forex haha, not the most logical or rational markets for retailers to be involved in. aslo, he choose oanda (spread wideners)...may as well go with uk broker...duh

My requirements are perfectly accommodated for...MR CLEVER CLOGGS. All downside risk is taken care of in various other accounts. Now shoo, am very bizzi!

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