FYI - interesting exit thread here ....I forgot about this oneHappy new week guys.
Please what's the best way to trail a trade strategy on 5mins TF that has 10pips SL and 20pips TP.
Secondly at what point is should be breakeven.
It's has been frustrating so far getting stopped out and watching trade move as anticipated and on the other hand, getting over 12 pips and only getting 1 pip out of it. Please help a newbie.
Thanks and happy trading.
heres the bottom line guys....If a forex trader wants to handle all his funds properly then he will require a strapping back ground of trading skills and comprehension. In order to continue trading journey in a more systematic way in this world market place, a forex trader will need to craft trading plan after understanding his trading needs. Without understanding the trading requirements a trader can’t even select broker that will best for him.
Hello Donwealt,Thanks Tim. I already got a plan but I miss a lot of my trades out of lack of concentration or fear. Then seeing it 5 to 10 mins later vehemently moving as expected, I try to do catch up which means I don't enter at the precise entry point though the setup is still valid. This messes up my SL position(as I used fixed amount of pips) and break even point. Thus I get frequently spiked out. I think I need a sort of alert system to get me alerted once my setup occurs to ensure early entry. I will sort out the fear issue.
Thanks once again.
Why do you want to make money from teaching of others rather than using your edge in trading and make much more money? Don't you find a bit lacking the sense?Hi guys, I am an Experienced Trader and running my own trading company in Dubai.
In the past years I managed different brokerage/trading desks in London and Dubai for almost 15 years.
Recently I start offering a consultancy service on Twitter only for subscribers.
I've been using my trading system for almost 20 years and I made during the years outstanding profits.
If you are a new Trader or Experienced one maybe you could be interested.
If so pls do not hesitate to contact me on email@example.com or using twitter (you find me under 'derivtrades').
Hi there, I run an investment consultancy firm and I am not teaching any trading system or trading course at the moment. I just enjoy posting my personal trades on twitter and find a challenge and help other traders to make money trading too for a small fee and offer my expertise that's all.Why do you want to make money from teaching of others rather than using your edge in trading and make much more money? Don't you find a bit lacking the sense?
I guess it also helps if you have a constant income, it takes some of the pressure offHi there, I run an investment consultancy firm and I am not teaching any trading system or trading course at the moment. I just enjoy posting my personal trades on twitter and find a challenge and help other traders to make money trading too for a small fee and offer my expertise that's all.
If you are new to a forex trading and just started exploring financial markets. You need an experienced teacher who will teach you how to trade profitably, step by step.
You do not need to create a trading system yourself, trust it to those who have been trading profitably in the financial markets for many years.
The teacher will determine your psycho type based on this, he will recommend you a trading type: long-term, medium-term, daily or scalping. For each type of trading, there are already proven forex trading systems that have been operating for more than a dozen years.
You do not need to create the forex system yourself and determine what type of traders you belong to. This will help you avoid mistakes.
An experienced teacher will correct your mistakes. All people make mistakes when they study. This is normal and there is nothing scary about it.