I’m from caribbean (GMT-4) and start my FX learning.
This is my first post after my slow reading of babypips school pages. It was time for me to recall also all my reading during …a previous life
First of all i would like to congratulate and thank the babypips owners and mods for all the VERY GREAT job they have done so far and they still do.
As the writer guessed and said i thought of a “trading system” (wow) while reading. I downloaded MetaTrader 4 and opened a demo account and tried the system. Each time tested, it seems quite fine. ASAP i tried to code it with MT4 language it became my main headache provider ;). I never came out of it during those 3 last weeks.
But, trying to code, helped me to look deeper on “my” trading system. I felt it wasn’t sufficient and added a few indicator. Still i can’t code it or it’s just a matter of time i think.
During all the reading, babyschool is talking about mentor… They ended their lessons waying none of them are free :((
Allow me to still ask : is there at least one that would be soooo nice (sure!) to show me the way(s) ?
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
I don’t know if you would consider me a mentor or not, but my advice does come free! I have been trading with a demo account since February and only last week I have opened my first live trading account, and I’m already money ahead.
If you are interested in my advice, check out my blog… the link is in my signature below this. I offer weekly predictions for the 6 major pairs that I follow, as well as a detailed explaination of my system, what indicators I use and what signals a buy/sell, what timeframe to use, etc. Check it out!
Thanks for answering. I read you blog and was interested in the way your thoughts were upgrading and how you end to your 3.0 version.
Well I made quite the same logic with others indicators which is not surprising in fact because babypips told us to get confortable with those we want to use.
So my test are made based on a set of 4 LWMA (2 on High (8 shifted +1, and 5), 2 on Low (same settings)) and Stoch (5,3,2 simple L/H) and finally MFI(8) with a set of rules quite similar with those you described to decide when to enter or exit the market. I am in demo mode only and i feel ok with a 5mn period looking at 15mn and H1 and more generally D1. Well I’m not sure yet about the 5mn or 15mn. I’m just trying both. I look EURUSD and GBPUSD.
So with my $10K demo account with all bad defaults settings and this manual way of doing, i made say $2 500 in a couple of weeks. As said on babypips i followed each time my rules and i lost yet so i’m quite happy with the result.
BUT I think the great step would be to test that by coding it on MT4 for example. What do you think ? Why you didn’t made it yourself with your rules ? Lack of time ? Trying to still tune ?
Another point is, i have no idea why the trailing stops are min 15 pips ! So i raise my stop by hand all the time !
Another question. While looking how i could improve the system, i looked at USDJPY and GBPJPY still on the 5mn period. I was surprised to notice that when the first 2 were ascending these last 2 weren’t. The reverse is also true. Is it a lack of study or one may also have noticed that ?
Sorry for all these beginner question …
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
It is more than 70 pages long now - a book for you to read!!
It is [U]completely pictorial[/U] - practical with easy theory.
It is the 2nd largest thread on the forum.
If you read it slowly you will not only have a [U]top quality trading system[/U] for life but also most of your questions will be answered.
Further to this, you are then welcome to contribute and ask your own questions.
I will pay attention to your thread. I will be glad to help you in anyway I can. My trading style may be quite different than yours. I am a simpleton but I am making money on a live account.
Feel free to add me to your instant messenger with aol or yahoo if you have one.
Thanks for your words. No IM yet. Will set one dedicated to FX when I’ll feel ok to trade live. Until then, i’ll try to write my thoughts wether they are good or not on those different thread…
simpleton ? sure ?
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
I just wanted to thank you a lot for all your very precise explanation in your thread. It makes me recall when i was 10 to 15 years old with my math teachers. It was always with those kind of queries with little trap to guess if everyone was following.
Very good.
I wrote here because it would not be clever to write on your thread because i’m still too far. But i’m comming an learning fast and will for sure share my thoughts and queries.
I still have 60 pages to read…yes i’m slow but it is so incredible and interesting to learn at each step.
I wanted to check this evening star candle reversal pattern. It is quite unreal but it works. I find also many Abandoned Baby & Dark Cloud. It is also so easy to just check the prediction if i had to do one just because all vectors are on the screen !
I just can’t find yet how to set a 20mn chart with MT4 (so i use the 30mn). I’ll look on google but if one know…
Anyway keep the pressure master …
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
