Hi Everyone, Top of the day to all of you. I am a newbie both to T"W and Trade, First of all I am also new to forum publication. I have problems to find the navigation tool to make a new post. In this case, I was looking to introduce myself and then post about trying to understand Orders when placing a trade. It is the different Orders I want to understand and their resultants. However, I understand that trying to search a strategy and keep to a plan in trading a live account can be devastating to your financial situation. Unfortunately this has cost me a fortune. But I never give up. That said, I would be fool to go on looking to playing every strategy and still trying to boil it down to just one or just two Orders in my plan, i.e. an P&C or Take Profit and Limit Loss (hope I got it right here). No, seriously, I have problems in understanding the actual physical and logical side to each Order for their result. Where in some cases I did not realise, the trade was still in operation after not checking if my Position or Order?, has closed or completed after placing the Order. Thus losing all my balance or equity?. I guess I can go on.
Last edited:
Pipsaholic
Well-known member
- Messages
- 277
- Likes
- 3
Hey traders,
Az here from Glasgow, Scotland just discovered trading FX, Stocks, day trading from home as I do IT Support from home and lovin it. Still learning about it went to a seminar about FX recently and met some very successful traders however found it difficult to understand the terms like stop loss and breakouts. Currently reading babypips.com Looking for a live trading room would like to trade together with a bunch of people with an instructor is this advised? Also, looking to meet up with like-minded traders to share knowledge as I don't know anyone friends or family who does FX or any trading. If anyone know any trading firms in Scotland would be appreciated. Thanks.
Az here from Glasgow, Scotland just discovered trading FX, Stocks, day trading from home as I do IT Support from home and lovin it. Still learning about it went to a seminar about FX recently and met some very successful traders however found it difficult to understand the terms like stop loss and breakouts. Currently reading babypips.com Looking for a live trading room would like to trade together with a bunch of people with an instructor is this advised? Also, looking to meet up with like-minded traders to share knowledge as I don't know anyone friends or family who does FX or any trading. If anyone know any trading firms in Scotland would be appreciated. Thanks.
Last edited:
Hi!
I live in Europe and am a professional FX-trader and fund manager with a background as a computer programmer and system analyst. I'm trading automatically using my own robots on the MT4-platform since 2008, and will never go back to manual trading
.
Cheers,
Capella
I live in Europe and am a professional FX-trader and fund manager with a background as a computer programmer and system analyst. I'm trading automatically using my own robots on the MT4-platform since 2008, and will never go back to manual trading
.Cheers,
Capella
takeyourtime
Newbie
- Messages
- 1
- Likes
- 0
Hello fellow traders,
I'm in the US in the Northeast. I'm an aspiring trader hoping to find my way. I've read probably 10 or so books on the subject, but am a little discouraged a lack of specific trading strategies (entries, exits, trade management) in them. I work full time so I'm limited in the time frames and instruments I can trade. I've been drawn to FX owing to the round the clock trading and liquidity in the space. Is anyone (who is a profitable FX trader) out there willing to share some of their strategies and experience?
I'm in the US in the Northeast. I'm an aspiring trader hoping to find my way. I've read probably 10 or so books on the subject, but am a little discouraged a lack of specific trading strategies (entries, exits, trade management) in them. I work full time so I'm limited in the time frames and instruments I can trade. I've been drawn to FX owing to the round the clock trading and liquidity in the space. Is anyone (who is a profitable FX trader) out there willing to share some of their strategies and experience?
shyambabu23
Newbie
- Messages
- 1
- Likes
- 0
I am Shyambabu23, a fresher intrading. Through this forum I am trying to learn more about trading. But I have a problem to solved by your help. Whenever, I try to login to this site from my home Computer, I get a message - The administrator has banned your computer from entering this site. So I have logged into this site from an outside computer. Wha is this problem and how can I solve it, so that I can learn things sitting at my home. [email protected].
Hi,
Don't know nothing about MT4 or understanding Orders. It seems every time I place an order for profit I do not know how to cancel to take profit. When I do it seems to still keep running. Sometimes it works and sometimes the statement just leaves a line without info of money balanced. Guess, I do not know much about orders to accurately add a profit line e.g. 10, 20 or 30 pips for profit. The order I place is a live open ticket while market is moving. For example: if the market is showing say, 1.1000 when the order is opened and to change the BUY or SELL as required for the bet, it does not show an accurate request by the time I submit. I also realise there is a spread the company takes for their business. I am also not IT skilled to make changes to MT4 to suit my requirements on the company's platform either .
Don't know nothing about MT4 or understanding Orders. It seems every time I place an order for profit I do not know how to cancel to take profit. When I do it seems to still keep running. Sometimes it works and sometimes the statement just leaves a line without info of money balanced. Guess, I do not know much about orders to accurately add a profit line e.g. 10, 20 or 30 pips for profit. The order I place is a live open ticket while market is moving. For example: if the market is showing say, 1.1000 when the order is opened and to change the BUY or SELL as required for the bet, it does not show an accurate request by the time I submit. I also realise there is a spread the company takes for their business. I am also not IT skilled to make changes to MT4 to suit my requirements on the company's platform either .
Last edited:
1) Study technical analysis in general (there's lots of free material on the net)
2) Learn how to read, interpretate and understand newsfeeds.
3) Choose one strategy and stick to it no matter what. If you experience that the strategy doesn't work and/or doesn't suit you, then try another strategy. Just don't jump back and forth looking for that holy grail indicator, or holy grail strategy. There's no such things. Some are better than others. But at the end, it's how they are used that matters.
4) Trade manually, preferable on a live account with real money; money that you can accept to loose; money that has no major impact on your life if you have them or loose them. Look at the losses as you're buying experience. If you can't afford it, then trade on a demo-account. However, realize, that the price feeds and spread are much better on a demo-account than on a live account, so you will never get the same result.
5) Only trade when you're in balance, and never when you're feeling stressed. Don't sit in front of your computer the whole day. It's better to be 100% focused during one hour than 25% focused during 10 hours.
6) Trade on as short time-frames as possible during the learning process. I'm not saying that trading on M1 is better than trading on H1 or D1 when it comes to earning a profit. I just say that it will speed up your learning process to trade on shorter timeframes, since everything happens much faster.
7) Realize that there's no holy grail EA (robots) out there which you can buy for $99 or whatever that will make you rich. Because, if there was such a holy grail EA, then why would the author sell it for $99 (or whatever)? There are many good EA's though, and with proper and conservative settings, many of them gives a slow and steady income. The mistake most people do, is to over-trade with them using the wrong settings.
There's much more to say.
Good luck!
pauljamesthompson
Newbie
- Messages
- 1
- Likes
- 0
Hello peeps. Novice FX trader here as a new member. Started trading recently and have landed 8 from 12 trades. Any tips or advice or dead certs welcomed!
kenrawlings
Junior member
- Messages
- 23
- Likes
- 0
Hello everyone, Doc Ken here.
I am not new to trading, but I only use spread betting now, having started out buying shares over 10 year ago.
I mainly use John Wheatland's AutofocusFX system, and it was Gillybabe, a member of both that service and of this forum, who suggested I join in here.
I used Richard Hills' Forex Net Trap system from Feb'2010 to about Sept'2010, and am interested in revisiting that to see how to make it profitable again.
I am semi retired, and spend most of my time day trading.
I live in Oxfordshire in the UK with my wife, the kids having flown the nest.
I want to make a bundle from trading so that I can buy a place by the sea in Brittany, France.
My wife is French, we are bilingual, and it has been my dream for some time to have a place in what I call "French speaking Cornwall".
OK, glad to join you all here.
I wish everyone success, and realisation of their goals and dreams, which should be the same.
I am not new to trading, but I only use spread betting now, having started out buying shares over 10 year ago.
I mainly use John Wheatland's AutofocusFX system, and it was Gillybabe, a member of both that service and of this forum, who suggested I join in here.
I used Richard Hills' Forex Net Trap system from Feb'2010 to about Sept'2010, and am interested in revisiting that to see how to make it profitable again.
I am semi retired, and spend most of my time day trading.
I live in Oxfordshire in the UK with my wife, the kids having flown the nest.
I want to make a bundle from trading so that I can buy a place by the sea in Brittany, France.
My wife is French, we are bilingual, and it has been my dream for some time to have a place in what I call "French speaking Cornwall".
OK, glad to join you all here.
I wish everyone success, and realisation of their goals and dreams, which should be the same.
watermargin
Newbie
- Messages
- 9
- Likes
- 0
Hello, I also trade and have been for few years, I was wondering what do you trade
watermargin
Newbie
- Messages
- 9
- Likes
- 0
Hello, what have you learned about Forex?
Hi All,
Ive been messing around with spreadbetting for a few years but just dipping in and out with no real strategy/plan and with obviously 'mixed' results :whistling
Last year I started using a couple of demo accounts and tried different approaches, eventually settling on a suitable strategy (for me anyway) and have seen consistently improving results, problem is anytime I switch to an actual cash a/c, self-discipline goes out the window, along with any strategy or plan. I know this is an aspect of the psychology involved in trading and hope to eventually control it, I just hope I dont run outta cash first
Enjoy reading through some of the forums here, there seems to be a lot of genuine users and a lot of interesting ideas so Im sure I can get some advice here.
Thanks
Ive been messing around with spreadbetting for a few years but just dipping in and out with no real strategy/plan and with obviously 'mixed' results :whistling
Last year I started using a couple of demo accounts and tried different approaches, eventually settling on a suitable strategy (for me anyway) and have seen consistently improving results, problem is anytime I switch to an actual cash a/c, self-discipline goes out the window, along with any strategy or plan. I know this is an aspect of the psychology involved in trading and hope to eventually control it, I just hope I dont run outta cash first
Enjoy reading through some of the forums here, there seems to be a lot of genuine users and a lot of interesting ideas so Im sure I can get some advice here.
Thanks
Hi all,
Only started looking into this yesterday so I basically know nothing at all, got myself a practice account but have no idea how to use it or really what I'm looking at. As a result lost around 200 pretend money in about an hour!! If im lucky i might be ready to trade in 2012!
Basically I'm not looking to turn myself into a millionaire overnight or anything like that. At the moment I have very little working capital but within the next year I will begin to get together more substantial savings, i would simply like to be able to use a portion of that money to achieve good returns, that would surpass the interest earnt were it sitting with a bank. In short my aims are to maximise the returns on my savings. If I could find a way of achieving 15% per annum with a conservative strategy I would be happy with that, anything else would be a bonus. As I said I'm literally just starting out on this so I have no idea how achievable that might be given that I need to hold down a day job at the same time.
Anyway, hope to get some good advice from this site.
Cheers.
Only started looking into this yesterday so I basically know nothing at all, got myself a practice account but have no idea how to use it or really what I'm looking at. As a result lost around 200 pretend money in about an hour!!
If im lucky i might be ready to trade in 2012!Basically I'm not looking to turn myself into a millionaire overnight or anything like that. At the moment I have very little working capital but within the next year I will begin to get together more substantial savings, i would simply like to be able to use a portion of that money to achieve good returns, that would surpass the interest earnt were it sitting with a bank. In short my aims are to maximise the returns on my savings. If I could find a way of achieving 15% per annum with a conservative strategy I would be happy with that, anything else would be a bonus. As I said I'm literally just starting out on this so I have no idea how achievable that might be given that I need to hold down a day job at the same time.
Anyway, hope to get some good advice from this site.
Cheers.
Last edited:
schinnadorai
Newbie
- Messages
- 1
- Likes
- 0
Hey everyone,
I'm a student in my second year at college, soon to start university. Wanted a (fairly) easy way to make some cash and thought trading would be a good way to do it. I don't have much capital to invest, though.
I've never invested or traded much, but recently I have dabbled in spread betting with IG Index. I can't say it was too successful, depositing about £75 and ending up with nothing. I made a few substantial profits, but made a lot of stupid mistakes and I guess poor execution of trades overall.
After losing so much in spread betting, I've had a few cynical thoughts about the way the system works. I suppose IG's ideal situation is when its customers lose money, because if you win they are the ones who have to pay out. So does their vested interest in you losing mean they are manipulating prices to make you lose?
I'm definitely going to be more cautious in the future and hopefully learn some things from the T2W forums. If anyone has any winning spread betting strategies, please let me know!
Thanks.
I'm a student in my second year at college, soon to start university. Wanted a (fairly) easy way to make some cash and thought trading would be a good way to do it. I don't have much capital to invest, though.
I've never invested or traded much, but recently I have dabbled in spread betting with IG Index. I can't say it was too successful, depositing about £75 and ending up with nothing. I made a few substantial profits, but made a lot of stupid mistakes and I guess poor execution of trades overall.
After losing so much in spread betting, I've had a few cynical thoughts about the way the system works. I suppose IG's ideal situation is when its customers lose money, because if you win they are the ones who have to pay out. So does their vested interest in you losing mean they are manipulating prices to make you lose?
I'm definitely going to be more cautious in the future and hopefully learn some things from the T2W forums. If anyone has any winning spread betting strategies, please let me know!
Thanks.
Hi house,
I just discovered this forum and I think its cool. Am new to spread betting and limit myself to just pairs of the three major currencies (EUR,USD and GBP).
I began on a small scale just over a month ago with £100.00 in my account but I want increase it to £1000.00.
Basically I try to study trends in charts an on the average I have done fairly well but get really depressed when I make losses.
I hope I can learn from more experienced traders here
Thanks
I just discovered this forum and I think its cool. Am new to spread betting and limit myself to just pairs of the three major currencies (EUR,USD and GBP).
I began on a small scale just over a month ago with £100.00 in my account but I want increase it to £1000.00.
Basically I try to study trends in charts an on the average I have done fairly well but get really depressed when I make losses.
I hope I can learn from more experienced traders here
Thanks
Similar threads
