Trade of the Week: Rules of the Contest

permits listening to the information you provide sir! I am newbie in trading forex

Can you give me detail information regarding with the trading forex, what is the main functions of trading forex in our economy?

LOL I trade a priceaction system that I make a plan and stick to my stoploss and profit targets but I can also adapt my profittarget with the market flow meaning if the price actions dictates moving my profit targets while trading the price action system which I do off the 1 HR and 4 HR time Frames I only trade it during range bound markets becuase I use it on Supply and Demand zones . I also have a trend system which I could never win this contest on becuase I enter on my EMA 20 weather long triggered with price being above the EMA and RSI above 50 zone or short while price below the EMA and RSI below the 50 line. I also plot stoch at 20-5-5 so I get a true signal with overbought over sold when in a down trend I will exit trade on first grren candle when pair is in oversold condition and I reenter the trade when the pair is back near the 21EMA and I got over bought condition and I get a nice red trigger candle to the downside to tell me the down trend will continue I place my stop 20-30 pips above the 21EMA just incase market noise or intervention or some unforseen movement goes against the trade for a candle or so and for up trends of course I do the oppiste of the downtrend the enter is the price above 21 EMA stop is 20-30 points below the EMA and I exit when I get A nice red candle on over bought contions on my Stoch or I get a hugh green candle way above the 21 in overbough condition becuase that generally is the exhaustion move and the next candle usually retraces that exhuasted candle in the other direction. I rather get out while the exhuastion candle is forming and be wrong on the right side of the trade then lose out on my hard earned pips becuase the pair retraced the exhuastion candle. I also have a nice Bollinger Bands System as well I use the 21-2 settings I open the trade in direction of the trend if the mid band is pointing in a up or downtrend position meaning if the EMA or middle band is pointing down the its a downtrend I open my trade below the center band targetting the lower BB Band If the mid BB is heading or slopping up I open position above the centerline and close it at the upper BB Band if it is trending I will continue to trade in the direction of the EMA or mid BB Band slope but only on the direction of the trend I don’t play the retraces I only tarde in direction of trend. Now if the makert is in a range or consolidation mode I will play either direction opening the trade when the price action touches or breaches the Upper BB Band and exiting the position at the Middle BB I do not tempt fate by going for the extreame BB becuase most of the time price stops before hitting the extreame opposing BB yes that is conservative but that works for me and my profit targets are met most of the time and I see that steady balance increase in my Account.

Where can we find the results of the last weeks?

I am seconding the assertion above. The result of last week will make us to be relatively informed.

Hi ForexNinja. I have been trading for a couple of years. I keep reading about how the brokerage firms are all ripoffs. Forex.com, FXCM, GFT. Can you tell me if you have a favorite and how can these brokerage scam you? If you put a stop-loss and think that the broker made you reach that stop is crazy. That mean that BOJ will let their currency go up/down because some brokers want to hit their clients stop loss orders? please advice and thanks.

Interesting idea

ict videos ?

this is a beauty idea !

good but do you think profit will continues with me?
i want to ask you alot of questions but this is enough for now
thanks

Really a good one!:53::18:

May the best NINJA WIN!!!

what a wonderful idea jii…i m really excited to beat it

I just joined this forum. Can I also be a part ofthe contest?

your question is quite interesting but as there are different quotes from different banks so they always choose bad quotes to hit your stop loss. If you see the lows and highs at bloomberg or at reutors you will always see a difference and this is how brokers cheat - but if you are good enough with your strategy they cannot cheat and every broker don’t do this. I have been trading from a long time with a company fxdialogue and I was never cheated because my broker’s interest and my interest matches. My broker want me to earn so we have a long term relationship. I traded with the companies like GFT , FXCM but all disappointed me.

Risk percentage: Yes, yes, we know you all want to earn the largest amount of money in the shortest time possible, but here in BabyPips.com risk management is the number one priority. This means that your trade ideas can only risk a maximum of 5% of the account. You can risk as little as 0.01% or as much as 4%, but never over 5%!

this looks so breathtaking.

fantastic-great idea

can’t wait to enter

Am I allowed to use my own hyper charts.

That’s good idea.