Oh thank you danimated for your encouragement and your support as well. I checked on your wall, and you are like Pro-Newbie than me as a Baby-Newbie. lol
Sure, I’ll keep it updated as I don’t want to go by my own. Mistake cannot be realised easily by myself. You motivated me to keep doing this. Thank you. 
Day 9:
Closed with profit of $2.14 (0.02 size)
Day 10: Today I had a very very good day that I lose more than 500 dollars (with size 0.50 because I want to try different) but haven’t closed the open trade. I can’t see that it can recover back in few days. It’s unexpected move that EUR soars so high against USD. Now I’m started to learn anything, it’s not easy at all, no matter how profitable I can be with any logic, and it’s totally unpredictable.
Shorted EURUSD @ 1.16591 (17:25:36), the point where it went completely opposed to my eyes analysis.
@alphahavoc it lasted in 10th day. 
Day 11: No trade since there is one open order yesterday, it went to -700 then back to - $465.
Suggest me what I am supposed to?
Should I keep it for next week or maybe month and start focusin on new trades?
I’ll never ever trade with size more than 0.10 anymore. 
It’s weekend now. Let’s babypipsing and 
So you prefer more swing trading than day trading? Also, what are you doing as far as risk management? Did you set a stop loss or anything?
I’m not sure what is swung trading but I do trade daily, on average 2 trades per day except weekends but when one trade is not favouring, I wait for it to come to minimal loss or zero.
In my view, if I set Stop loss, I would have more losses than wins till now because there are few trades that losses went high and then back to profit, that was more than 10 hours trades.
But this yesterday trade (heavy losses open) made me realise the importance of using Stop Loss.
I’m thinking to start new trades and hold open losses trade, what do you say?
Apart from this, I have a lot to be educated, also planning to build risk management soon.
Swing trading is where you pretty much just keep your trades open for more than a day, or longer. I consider myself a day trader. I also still consider myself a newb as well, been on demo for about half a year now I think lol But every day for me I learn something new, that’s important. Keep up with your education bro, because in the end it will definitely pay off. YouTube has been one of my best friends. A couple of the trading channels I follow are “The Trading Channel” (reallyyy helpful) , Adam Khoo has some great vids as well (risk management vid you need to watch), and there a tons more. Just keep practicing on demo, backtest the strategy you develop (always stick with 1 strategy at a time, that way you can determine which one has more of a winning % after testing), and even blow as many demo accounts as you want lol its alll about trial and error. Also, DONT QUIT. Once you quit, that’s it
1 Like
I was taught to always set a stop loss on every trade, and it makes sense to do that.
Thanks for sharing out these tips and suggestions. I found “The Trading Channel” and “Adam Khoo from Wealth Academy”, good way to start weekend. I’ll be loser if I quit, so never. High 5! I really hope that you found the real solution and get a great muscle to start off.
And regarding stop loss, I’ll have to think about it, like real. Appreciate your time to share your experience. Always good for newbies.
Thanks! I plan on going LIVE at the beginning of the new year
1 Like
Sounds perfect planning. You have more than 3 full months to prepare. I’ll be cheering and learning from you.
I’m struggling to add my demo account to ForexFactory since they don’t accept those who don’t open broker account. I’m not interested to decide or choose any broker now, I have MT4 account from MetaTrader site directly. Is there any alternative way to get it on board?
I use forexfactory too look at the forex news, that’s it. I’m not too knowledgeable about not using a broker to trade, but I found a nice article that will probably help you decide what’s best. You can then link your demo account to an analytics/tracking site like MyFXBook in order to see how well you’re performing on demo
https://www.quora.com/Can-someone-start-Forex-trading-without-a-broker
1 Like
Awesome ! And no problem, I try to give as much input as I can
1 Like
Day 12 to 17: Nothing but watching mostly.
On day 15th, my previous order placed on day 10 (Short EURUSD 1.16591) which went worse to 1.160570 and back:
On day 16th, it’s recovering nicely like -$200 to -$100 but it was night. So I decided to set “Take Profit” for the first time, set 1.16500
The 9-days trade came back to green life, unfortunately, there would be very high profit if I didn’t set profit order. [yellow intersection is where I order.
I think I set wrong order, I should have taken “Trailing stop” where I could lock profit and let the it go long. What do you say? And where is trailing stop order in MT4 trading?
Before it came back to green, I open another order which go the same way but in opposite side. 
Detail of new order placed in 25 Sept (3 days ago):
Long EURUSD @ 1.17886 under size 0.10, currently it’s - $180
You can check my record here (credit goes to @justshell).
I forgot to tell you justshell, Adam Khoos is really a great guy, speaks too fast but very good one on risk management video. But it’s a heavy subject to understand completely, it made me feel like I need to finish babypips course to clear out the basics. I’m too slow nowadays. will get energy to back up.
Thanks for recommendation. I’m keeping him in my list.
You’ll always have things to learn and you can never stop learning when it comes to forex. I’m learning new things everyday lol but yes, Adam does talk fast, but he’s excellent in explaining risk management. It’s best you finish up with the BabyPips school first though.
I’m still on demo, but I consider myself a day trader. So, I look for a setup that fits my system, and enter and get right back out after I make the amount I want. Sometimes, I’ll set a take profit, but if I’m looking at the charts then there’s no need. I ALWAYS use a stop loss. So, I would have been closed out that 9-day trade after I saw it was going against me. But, it’s important to know whether you want to be a swing trader (keep trades open for days/ weeks/etc),or a day trader (you make daily profits) before anything really, in my opinion. Then that way, you can build a strategy around that
Everything is a process man, and you just have to trust the process. The more time you spend on the charts, the more things will start to just click and make sense. Do more than what the average person would do. If the avg person is studying forex for an hour a day, make sure you do more. I was told that it takes at least 10,000 hours to become an expert at something. So, just keep grinding and eventually you’ll become a great trader. I tell myself I’m the best trader in the DMV area every single day, even though I’m definitely not at the moment lol But I believe it, and as long as you believe in your goals then they will come to fruition 
2 Likes
That’s beautiful advice. Thanks my man for always being there to guide me. You encouraged me to be active in Babypips course, though I don’t find much time in weekdays but I know how to find the time time, it’s all about passion now. Thanks for sharing your fruitful lessons and motivation. My best wish is to see you a greatest trader in DMV area.
I think I’m doing both. What I’m finding is, if one trade doesn’t work in a day, it will work in days or a week. That’s my finding. How do you feel if I can have mixed strategy?
1 Like
here is a spread sheet for you to try, let me know if it helps and feel free to share with others if you prove it to be useful. https://contattafiles.s3-us-west-1.amazonaws.com/tnt27056/T1Bl0UpXqPVaDAX/trading%20plan%20and%20risk%20management%20updated.xlsx
as to the stops I am going to agree with alphahavoc. Risk is best managed by position size, outside of that, most traders believe that your stop loss should be set according to your max risk tolerance, meaning, most trraders dont want to risk more than say 1% to 2% per trade. SO that means, you should consider your entry based on your stop loss ( I dont use stop losses, but beginners probabaly should at least initially until they give them a constant bad taste in thier accounts), so you set your stop loss so that if it hits you will lose a preset amount %age wise like 1% or 2% some like to risk only .5% per trade. thing is though when you have a SL at 1 or 2% you need to set your profit stop (TPT), at least a 1:1 ratio, most traders prefer at least a 2:1 Risk_TO_reward (RR) ratio and ideally maybe 3:1 that way if you lose half your trades, as long as you let your winning trades run and hit your tpt, you will be making 2X per trade more than the 1X you are losing, look into its logical, but doesnt always pan out, but is considered best practice to have a max SL of no more than 2% and a min R:R of 1:1 but 2:1 is better and 3:1 even better yet!
1 Like
This excel sheet, this is what I’ve been looking for. It’s indeed useful. Thank you very much Ram for your precious time to look and analyse my trading life here.
Regarding stop loss, I understand how important it is for practising, especially to control my emotion and protecting the fund when there is live risk. I’ll make a plan out for SL soon once I’m into calculations. Again, thank you for your help and suggestions. I’l try out 2% at first practice and later into 1% if done well, and then to 0.5%. I’ll study about R:R part too. I’m too baby for those stuffs for now but I’m getting to it. 
Sharing is beautifully caring
1 Like
Let’s keep each other motivated, accountable and pick some pips along the way!
2 Likes