My Advice for Beginners - Page 3
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  1. #21
    Join Date
    Sep 2008
    Posts
    25
    Quote Originally Posted by scotty View Post
    Hello I am new in the forum and I am looking for a good minute to minute indicator, does one exist?
    I prefer to trade using the 15 minutes charts and I think that for the 1 minute itīs too difficult to find reliable indicators as the time is too short and market changes and is hard to set the TP and SL for the one minute period

  2. #22
    Hi Johnny FX,

    Your post on the calculating risk ratio sparked an interest in me. However, i don't really understand. 1% of what? Acct size? and divide by 50? So does that equate to how much my stop loss should be? Kindly clarify. Thank you! Still a newbie...

    Regards

  3. #23
    Join Date
    May 2008
    Location
    Newport Coast, California
    Posts
    143
    Quote Originally Posted by devile_sid View Post
    Hi Johnny FX,

    Your post on the calculating risk ratio sparked an interest in me. However, i don't really understand. 1% of what? Acct size? and divide by 50? So does that equate to how much my stop loss should be? Kindly clarify. Thank you! Still a newbie...

    Regards
    1% of your available equity if you are trading multiple pairs.
    If you are trading one pair at a time always, 1% of your balance.

    Avoid the high risk/reward lot size calculation now becoming
    popular among newbies that uses stop/loss margin spread
    ratio nonsense convoluted BS method. These newbies only
    look at the reward portion and never consider that they
    are actually risking more than using the normal lot size
    calculation used by PROFESSIONAL TRADERS and use that
    calculator mostly pushed by other brokers funny enough eh?

    Use simple lot size calculations.
    Take a percentage of your balance/equity.
    Divide that by 1000 if on standard 1:100 account.
    Divide that by 50 if on mini 1:200 account.

    And I do not set a stop/loss. I have a mental stop/loss
    that I only rarely execute.
    Last edited by JonnyFX; 10-04-2008 at 07:16 AM.

  4. #24
    Join Date
    Oct 2008
    Posts
    14
    Yes, you have to practise a lot with a demo-account to have an experience and also you must learn basic trading rules.to have profit you must know a lot of different things, not easy things.don't be in a hurry to do trading steps, it's better analyze before do anything!

  5. #25
    Join Date
    Sep 2008
    Posts
    8
    Thanks meggi I will conserve your advice. But sometimes this people here get off the subject I donít understand, by the way where can I get a demo account to practice on?

  6. #26
    Join Date
    Aug 2007
    Location
    UK
    Posts
    1,466
    Thanks meggi I will conserve your advice. But sometimes this people here get off the subject I donít understand, by the way where can I get a demo account to practice on?
    Oanda
    alpari
    fxpro
    hotspotfx
    interbankfx

  7. #27
    Cyclopip Guest
    Check out our brokers guide and you may come up with another questions or two to help you choose the right broker for your needs:

    How to Choose a Forex Broker - BabyPips.com

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