Big E Trading

Roggy and Leona, thanks for the reply’s. I managed to download a MT4 practice account and moved the files over no problemo. Looking back at some of the history, it seems to be quite impressive! I’m excited to get pippin with this rig. Thanks again for the help, its a pleasure to be here! Thank you John for taking the time to share this with everyone.

Cliff

Johnny K,
You sound like you’ve been trading for a long time, what kind of EA’s do you use on your account.
I’ve only ever heard that the robots bought online are junk and not worth the time.
Just wondering what your thoughts were on this?
Wondering if I should be putting more time into studying different EA’s to keep the account growing.

gbp/usd short 30min is +14 so far and still open.


EURUSD is interesting today. Just took a short on it and picked up 19 pips. Will be interesting to see what happens when it hits the support. May be able to grab a few more pips on the way back up!

glad to have been of assistance, happy pippin

checking out nz/us 30 min time frame – going short…wish me pips :slight_smile:

Clif welcome to babypips. I’m glad you got things sorted out. When you trade with a practice account I would suggest one thing. Trading is kind of like typing. You can finger peck and type whatever you want. If you learn bad habits from the beginning you will keep bad habits for a very long time or even forever. Trading is the same way. Bad habits are hard to shake. Like finger pecking you may be able to squeak by with poor trading habits but in the long run it will prevent you from being great.

Rule #1 Money management. When you look at the balance and equity on your demo, pretend it is real hard earned money. Protect it! This is the most important aspect of trading. I know many people will not believe me but you will know you made it as a trader when you are more focused on protecting capital more than you are on earning it.

Rule #2 Discipline! Discipline! Discipline! Don’t trade hunches or emotions or whatever just to trade. Trade your system. Big E is a big moneymaker in the long run but it will only make you money if you trade with discipline. Miost losers I ever get are from me taking less than perfect setups or at the wrong time or anticipating a cross of the tdi. UIf you can control yourself and follow the rules you will succeed.

Rule 3. Psychology. This comes with time. First off you need confidence to trade. That confidence only comes from trading for a while and knowing your edge works. Accept losses they happen. Don’t get overly excited about wins they happen too, and if you are good wins will outweigh losses and you will have a positive expectancy.

Rule 4. Love this journey if your anything like me you will be a trader for life. Have passion and drive. Keep reading keep learning and keep moving forward, and enjoy the ride :smiley:

okay I’m done with my soapbox for today.

Johnny K,
You sound like you’ve been trading for a long time, what kind of EA’s do you use on your account.
I’ve only ever heard that the robots bought online are junk and not worth the time.
Just wondering what your thoughts were on this?
Wondering if I should be putting more time into studying different EA’s to keep the account growing.

Read more: 301 Moved Permanently

A lot of folks around here say that ea’s are garbage. Everyone has there own beliefs, but in an attempt to not clog this thread I will direct you to my other active threads in the ea section and please feel free to ask questions there, even if they are not related to that particular ea. I will always try my best to answer.

http://forums.babypips.com/expert-advisors-automated-trading/37459-forex-growth-bot.html

http://forums.babypips.com/expert-advisors-automated-trading/38781-wallstreet-forex-robot.html

http://forums.babypips.com/expert-advisors-automated-trading/39243-million-dollar-pips.html

Hi Johnny
Just thought i,ll stop by and say hi,this week have made great pips trading the system,on the 1 hr charts.
Remember KISS.
Regards

Hi all.

Has anyone tried the modifications I post on message 95? Yesterday I got 2 looseing trades and 1 winning on EurCad. Overall 100 pip profit.

As soon I get my 5 post I will attach the files promised in message 95.

Bye

The original rules are all I need for 1H TF NY session trading. The original thread is over at FF and BigE explained that he took a year off from trading (I think he is retired) and tweaked this strategy. I don’t want to stray from what works for me. d.

I have not attempted your modifications, I am studying the BigE system on another forum as well as here

K.I.S.S. is the byword
Keep
It
Simple
Silly :58:

Thanks
Leona

The only thing I noticed is if TDI crosses up below 50 for a long entry and both confirmations are OK and we are in a downtrend this could be a fake signal there are more chances to not work out well.

The system could be used strictly mechanical for entering a trade but if u want to maximise the win % then combine it with support/resistance levels from previous price action and trendlines, fibo levels and other technical tools and it ROCKS!

Regards

For me is still enough simple :wink: … but tnx for the advise anyway.

Have a good weekend!

ps: finaly my 5th post :smiley:

Thanks for the encouragement John. Funny thing, these are exactly the areas that I am starting to realize I need to really start to pay attention to. I’m not going to be able to “reset” my real money account when I finally do step up and open one. :34:

I’m trying to start with an account and act as though it is real cash, and I’m learning that if I have a bad trade, not to try to enter another one right away on a hunch to try to make up the loss. I’m getting through the part of the school that is making me realize there are many things I should be watching and taking into account before I enter any trade. Having a game plan so to speak. I really like the idea of a mechanical trading system that takes the emotions out of it as much as possible. This is something that I hope with enough time and patience I can learn to make work. Quite frankly I would like to be able to trade full time and be able to rely on it as my main source of income one day. Any advice I can get is greatly appreciated. If there is anything you think I should read or anywhere I can go to accelerate through the learning curve, please don’t hesitate to say so. Thanks again for the support!

Cliff

hey guys, could someone please explain the difference between stoch 8 and stoch 14

and what are the advantages and disadvantages of each other?

thanks!

Now this I completely agree with and so does BigE - he states that if one doesn’t know some basic forex, S/R, congestion, low volitility in off hours, etc., then no strategy will be successful for someone ignoring the basics. Common sense coupled with this strategy is a winner. d.

Here you have some homework reading:
Stochastics: The Free Forex Encyclopedia
Stochastic Indicator | Forex Indicators Guide
Forex Stochastic Indicator Explained | Forex Indicator Guide
Forex Indicators Guide: Stochastics Indicator

Basicaly the first number is a number of periods on which the slow line (K) is calculated. As I understand (and I am no expert) is similar as moveing average … you give it a number if periods on which it calculates the line …

Regards

Hi Cliff,
I might add a word or two, not that I am an expert at all :51:
Trading demo is NOT the same as trading with your real money. Might want to do a two step process – trade demo to get the “feel” of trading, and the markets. :53:
Then move to a real account, trading micro lots - penny a pip kinda thing, to get a feel for the adrenalin rush - positive AND negative - when trading. It IS different when it is your own money, however small the amount. :59:
At least, IMHO.
Hope that helps.
Leona

1 Like

EU and EJ look good to long but its Sunday night so I will pass.

btw I agree with roggy any system on earth will do better if you are trading it along with price action and key levels. Many people have said to disregard key levels but I say you must at least be aware of them. Chances are if its a first or second test than it will likely bounce so if that is in confluence with the big e signal than great if not than be aware and be nimble thats all.