My friend I don’t know every thing. I try to learn something that will help me closer to my goals, and make note of something that could possibly cause me to move away. IO do not like to trade the early Sunday opening. I like to wait a few hours and see if I want to start stetting up. This week I strayed from that as on Friday when I closed out all my open trades there were 2 that were right on the rule for closing but not quite, so I held over the weekend it turned out good based on that info I opened another trade that has not stoppedout, but has reversed and may stop me out. If I followed my Sunday rule to the letter. I would not opined s short trade but based on the info I should have opened a long. Point is make the plan live the plan and thik long term For me it’s a late night:cry:
I won’t do anyone work and I won’t give you mine, but I will how to help you do your own
Gp
Lots of great stuff in this explanation. Thanks for being thorough and sharing!
Welcome. Good Luck
Gp
Hi Gp.
I have been trading for some time now. At first my journey started well, but later it seems I have never traded before all my trades started going south. It was like my strategy has never worked before and it has really caused me a lot of emotions stress. I now plan on going into more studies. Please what advice do you have for me.
Hi GP, I just found your forum, great stuff. I was wondering if you have any thoughts on a reliable volume indicator for Forex? None that I have tried seem to work very well
Hi, can you help me assess this price pair movement. My brokers platform shows a large downwards spike compared to other brokers. Just wondering what would drive this? Refer attached.
Hi First let me start with saying I’m sorry for the delay in getting back to you. Here’s one of the best pieces of advice I ever got. "ALL PLANS WORK SOMETIME. . .NO PLAN WORKS ALL THE TIME."
Just like money moves up and down, so does trading and don’t let anyone tell you different. You plan your trades according to a good bankroll management, you apply a trading strategy that based on the balance of probabilities will give you more winners than losers, then be patient and try to make the same mistake the least amount of times as possible, realizing mistakes are part of the business.
Hope that helps. again apologies for the delay
Gp
Hi First let me start with saying I’m sorry for the delay in getting back to you. I the trading volume Indicator I use is free and you can get it with MT4or5 under code base on the platform. It’s "trading_volume_V1. I find to be accurate on 1 hour and below time frames
Hope that helps
Gp
Hi First let me start with saying I’m sorry for the delay in getting back to you. I don’t trade this pair so I won’t be able to help. I did look it up and it looks like what you already know pair went sideways then sellers took over. I don’t have enough info as why the down swing. Again ask your broker rep why the difference. Again sorry I don’t comment on brokers,but off hand there shouldn’t be that much of a difference, I guess it depends on what your definition of downsweep.
Which I could be of more help
Gp
Thanks for your reply.
I looked up this instance on my own broker’s chart and it agrees with your upper chart exactly. On this kind of 1 min chart, I suspect the down spike on the lower chart is a rogue price print- it happens.
It will, of course, affect any indicator values for a while but its impact will soon have disappeared as time passes on this TF. On the other hand, if this rogue price triggered a SL then a decent broker will normally correct the issue.
Okay - how much do you make monthly in average ? Do you have any possible numbers for that or not ? I do hope you have to make it possible. So let’s do it in some way, correct ? I do need to make it better for me as well, cause not full time yet.
Wrong question. Don’t be concerned with what I or anyone else makes. Everybody’s situation is different. Examples for you. A trader trading 10 years full time should be making more than someone who’s been trading 6 months, A trader who makes their living trading will make more money than someone who trades to get a higher return on their investment. Full time trader should be making more money than a part time. Get the picture?
Their is no secret, one size fits all, magic programs or traders who are right 100% of the time. All you need is: 1. a trading strategy that on the balance of probabilities will give you more winners than losers over the long hall. 2 a bankroll management program that always protects your bankroll. 3. the discipline to follow the 1. and 2. without fail.
If I were you, here’s what I would do. First make a plan. Figure out how much time you can devote to trading. From their pick a trading program you’re comfortable with that fits the time you have available for trading. From Their figure out how much money you can afford to lose. Then make your bankroll management plan. After that it’s discipline.
Hope that helps
Gp
ps Before I did any of the above, I would learn not just read all of the baby pips school. How well you plant the seeds now will determine the fruit you bare down the road
Hi Gp,
It’s nice to come across your thread after almost 2 years of being opened and that you’re still answering questions! So thank you. If after 5+ years I am still around and succesful, I would like to give back to the community as well.
My question is: Since I have only about 7 months experience and there is so much to learn, do you find that you are still learning a lot at your level OR have you learned to just look for what you need to know for the pairs you’re going to trade? I’m just wondering how much of the learning intensity tapers off. Because right now, I’m learning how to put all the pieces of the puzzle together but not so much trading yet. I’m still doing some demo trades when I want to try something out but also some live trades with very small size to protect my capital and test my pshchology.
Loving the journey but still trying to figure out the markets and what kind of a trader I am.
Thanks for your reply.
HonestDon
Hi Don
Excuse the delay for getting back to you. I have been sick and haven’t been able to answer my mail. Anyway getting better so to your question. I try to learn something new every day and most times I’m not disappointed. Whether you have 7 wees, months or years if you approach everyday with what can I learn new today. Now it can be what can I learn new everyday to help me get closer to my goals or it could be what can I learn today that will make me a better trader; or a combination of both. 7 months in I was trading one pair and only when the pair was trending. Now I trade 12 pairs. I trade trends up and down and sideways movements. I swing, trend and scalp. I try to trade the best opportunities. I believe I can do this because I’m always trying to learn something new. My suggestion to everyone is the same. Rome wasn’t built in a day and neither will your trading career. Take it slow learn to master 1 pair, and keep trying to learn something new that will get you to two pairs and so on.
Hope that helps and again sorry for the delay
Gp
Thank you for your fantastic response. So learning to trade really is a lifelong journey no matter how much experience you currently have. Good thing I like learning!
Currently, I’ve got my eye on AUD/USD for a couple of months now. I like it because it’s so closely tied to the US-China trade war.
Hope you’re feeling better and back at the desk keeping an eye on your 12 pairs.
Don
