I asked you something yesterday, I appreciate your reply. I been profitable using amazing risk management lot size 0.01-0.10 I’m trying to see better percentage than profit every week , I don’t get emotional , i love studying, this makes me happy, but for some reason i tend to think about this career alot to where my mind is always thinking about chart work and studies could this affect me in a bad way? what do you think? sorry this is off topic… hope you have an amazing weekend!!
Check out the free resources on Baby pips. Make a basic strategy, and see if it is profitable through extensive backtesting.
It could effect you in a bad way if you are constantly feeling like you have to trade. Trading out of boredom can hurt your account.
Being obsessed isn’t a bad thing, only if it impacts the trading you do. Rather than feel like you have to trade all the time try and channel it into a need to backtest / strategy build all the time. This will help you considerably in the long run.
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It’s been a year now.
May I know why are you diverting yourself from currencies to commodities, equities and cryptos?
What is your trading strategy? what do you prefer more technical or fundamental analysis?
I’ve found these markets easier to make significant gains.
Discretionary trading, and one hand washes the other. Need both.
Do you think a trader is more likely to be successful trading one market only, a handful or a shopping list of them?
Much comes down to the individual of course, but there must be a general pattern - or maybe not?
Also in your experience do you think those in the industry are more concerned with money flows and market depth than pure technicals?
Granted you have worked in forex, but from what I’ve heard prop traders in stocks all use auction data such as level 2 rather than charts only.
Does such types of data even exist in FX?
IMO yes specialising in a certain asset / currency / market increases traders likelihood of success. IE at a bank a trader will typically only trade AUD pairs or even just one AUD symbol. I’ve never quite understood why this is the case for professional traders but retail traders dive in and expect to be profitable on everything.
Nothing wrong with a handful of related products, but to dive in and expect success across a huge range of products is unrealistic. I’m sure you’ve seen similar things yourself.
Not too sure how auction data works in stocks… so can’t really help there. Money flows definitely applies to fx, as traders look to trade mostly with risk sentiment and real time direction. Banks are able to see order books.
Yes, I have heard that the best traders trade one market only - and in my own experience, my best trading has been when trading one instrument only. God knows why I then choose to diversify.
I ask because as you say, many retailers seem to think they can trade many markets. For me the biggest problem trading one instrument is the doing of nothing and patience required. And then if you are a systems trader, and your chosen market breaks out (or down) without you because the setup wasn’t present, panic can set in and FOMO can take over.
Trading silver only (long side only too) this type of thing would happen to me all the time. These days I am better but the question for many beginners is to trade one instrument and get to know that market inside out, but also suffer FOMO, or trade multiple markets (many of which move at the same time) and suffer from over trading.
Anyway, keep up the good work. It’s cool to have someone on here who has seen things from the inside.
Hi there
Is it safe to give a professional my MT4 access to trade on my behalf since it’s not linked to my actual account where my funds are. Obviously apart from the fact the could blow my account
Yeah, that’s all he could do. Nowadays, tier one regulated brokers only allow withdrawals to be sent to the same account where the initial funds originated. He should have a hassle if he tried to extract your funds - unless of course the broker is not regulated. And you’ll be able to see your account balance on your charts at all times…
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Cheers for your insight! Personally my pairs of choice are NZDJPY, NZDUSD, AUDUSD - not too much to handle.
My slow move into crypto’s commodities and equities is a lot more of an investing style, with long only, no leverage. God know’s why we diversify aha!
Happy trading!
That should be fine - this is how most account management systems operate. Sometimes they only need the login to setup Maam / Paam softwares, and don’t log into your account. They won’t be able to withdraw your money, only trade with it.
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Thanks for your advice
This is very interesting. From all the data you’ve looked at so far, how’s the slippage situation looking like? Is it really bad? 
It depends completely on the broker! Most brokers have low amounts of slippage, with 10-20% of trades being slipped, some have less and some have far more.
Try out the Mt4 EA for yourself and see how good your broker is. It’s completely free and we’ve just launched a new portal with more tools, so it’s the perfect time 
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I’ve read in one or two other forum threads that tick volume is broker specific? So, basically if I use a relatively new and small broker tick data could potentially be a lot more volatile and unpredictable, as opposed to using a top broker like IC Markets?
I’m not too sure on this - I’d imagine that brokers use their liquidity provider tick volume, not the broker tick volume.
Again, not too sure.
Actually the liquidity pool was what was mentioned here. I don’t know the difference and how that affects tick volume tbh.
Here’s a scr shot of the part it’s mentioned in the thread.
