Broker leverage

Beginner Questions
185

Hi @TYGMedia, thank you for this. I thought using TP at a previous liquidity level may be a good thing to do since previous price levels have created it causing a zone/POI to form.

Ive really been trying to implement my FVG and been watching tons of videos on why they aren’t working for me and how I can improve it. I’ve tried tons of methods such as using external FVG, waiting for a narrative, waiting for liquidity to be tapped ect… I cant really find that FVG actually work

I want to know your past expericne with SMC/ICT why did you quit SMC? Did fair value gaps work for you??

Regards tomo

186

Speaking on my point. I’m going to do a probability win rate calculation. I’m going to test both theories which are Smc/ict. And general price action (snr,market structure) ect…

Depending on the higher wr i will focus on that certian method I’ll try this with mutiple major pairs too

187

Hi @tomo22, that is the irony :rofl:. The way I look, ICT/SMC are trading philosophy. They don’t need to be correct, but you understand how to use it. This applies to all methodologies. You only need to use what works for you. :slight_smile:

I have met many SMC traders, many of them use SMC, voluntary combine with others methodology.
But when they talk about their methodology, they claim their own SMC.
Such as FVG, it’s said to be so powerful, but it has been patched with many additional “exceptions” to make it work. If there are 10 SMC traders, there will be 10 variants on how to use it. All of them can be worked, but it’s no longer the original idea. So, we have to do whatever to make it work. FVG is a very old concept in PA about range to range. You have to analyze the FVG from lower to higher TF, so you will realize FVG is just RBR, DBD in single candle. Look inside a FVG, you will see RBR or DBD. By understaiding it, you know what to do when you see FVG.

I learned SMC for 2 years, I was looking for a new perspective in trading. SMC and ICT are actually good, for beginner. But I don’t like with their concept about market. Market doesn’t work that way, but for the sake of their marketing, just enjoy their story. Their technical skill, the way to find a structure, is good. However the explanations about how it moves are completely wrong. :thinking:

Example, the FVG is being targeted. They explained with their concept of candle formation, during the course, it’s 100% success, very simple and satisfying. In livel trading, we hit up down, left right. We get bullied by market. Waiting for inducement, liquidity sweep, we open positions and bang!! … we are robbed by market again. :woozy_face:

The proper way to trade is, started by picking an instrument. Look for patterns, and find out how to apply the methodology on it. Volatility, instrument’s behavior will be the parameters on how to use it. So, from my experiences, there should be a SMC for EURUSD, SMC for XAUUSD kind of thing.

So you have to find out how to apply the skill on each instrument. You may proof it yourself by trading with EURUSD, GBPJPY, XAUUSD, XAGUSD, XAUAUD, XTIUSD/USOIL, DE40, US500. Each of them are different type of ghosts. :rofl: .

So I finally can say, to be a successful trader, you can only keep trading, exercise the mind and action. For example, you are instructed by your supervisor to deal with a customer. The supervisor teach you how to win a deal. When you are on field, all of the teaching are garbage. Supervisor told you make the customer happy, the real thing, how? How to make a customer happy. You need to meet a lot of customers and learn how to react fast and accurately in a split of seconds. You miss one step the deal is off. You react to slow, you loss the opportunity. There is nothing can be used to help but keep doing it until you understand the whole thing.

Example again, when I want to meet a new prospect, I will have to check the person background. I will read articles the person has interest to. The minutes I meet the person, I will assess everything quickly about the person and try to blend him or her will all my skills naturally. These thing can’t be taught but experiences.

The same thing with trading. You need to trade everyday, make it your habits. For example, EURUSD keeps moving down. If you have no experience, you will look for “insights” on how to make profit with current condition.

The truth is nothing can be done. Technicality, we know EURUSD is testing its strong support. We just wait for reversal. Don’t have to squeeze our brain for liquidity and FVG. Just waiting for a good reversal. If we use PA, look for HH, HL. If we want to scalp, look into M15 and bellow to swing with. If the support is broken, just look at our trading plan. Do we have breakout experience? if don’t, learn how to do it. :smile:

188

Hi @TYGMedia, yes I agree ICT over hypes FVG and majority of them make exceptations such as “oh it can breakout and then re touch it still counts” which is not true.

When you say “look for patterns” what do you mean by this.

I wanted to ask how do you trade during consolidation? Should you even trade during this period and wait for a trend to form?

I feel like I have completly forgotten everything about price action I’m not sure why and SnR I’ve been trading SnR today and I’ve been getting stopped out due to breakouts occuring at my SnR. I’m going to watch some videoes on price action, SnR and some others :smiley:

189

Exness allow higher leverage

190

Hi @tomo22, patterns as what I had explained here :slight_smile:

Yes, I am still trading during consolidation. I will trade when price is consolidating in a good area. Have you watch Batman Return? Ra’s al ghul told Batman: Always mind your surroundings. :smiley:

191

@TYGMedia

Hi thank you for this. What is the ma50 by the way?

Also I’m having some trouble with babypips some reason I can’t reply on my computer when I click the reply button but on my phone i can.

For instance, when I reply to your comment on my computer and I’m finished I click reply and nothing works it’s very weird. Do you know any possible fixes?

192

Pepperstone has pepperstone pro accounts which is only for professionals traders . You have to pass a financial degree like the rg 146 and be trading with them for at least two years to get the pepperstone pro which is 1:500 leverage

193

Hi @tomo22, MA50 is Moving Average 50. MA is the most reliable indicator. It works on every instrument, we just need to reconfigure its parameter accordingly.

I’m not sure for this. Probably you can ask BP’s moderator. Last time I got the same problem, due to login problem. We can only login into 1 device at the same time. When you login in other device, the previous will automatically logout.

It’s also can be caused by the page isn’t fully loaded, so the javascript run with error. :slight_smile: Better to consult with BP’s moderator for sure :smile:

194

Have you tried using Firefox

1 Like
195

Nope fire fox doesn’t work I think I’ll stick with what @TYGMedia has said

196

@TYGMedia hi, oh I thought so haha . What do you Mean configure how do you know what to configure it? Is it based on pair?

I will contact BP support

1 Like
197

Hi @tomo22, every pair has their uniqueness. If you are using methodology such as PA, SMC, you wont see the different. But, when you try to dismantle the chart, you will realize there are parameters to apply any methodology. It’s a myth a concept can work on all instruments.

When you use Moving Average, you need to pick MA’s type, Period’s length, Calculation based.

Example: when you look at EURUSD, you look at consolidation period at D1’s chart is about 25-50. So the average price is better in within these numbers. The use of every method has to have a good reason. Without knowing these, a trader can hardly survive, or the person just have abundant of lucks :smiley:

198

@TYGMedia, hi

Do you know an indicator specific for EMA 50?

Alot of them are 100, 200. How do you set it to 25-50 too?

Also I’m taking inspiration from you to start a journal I think what u have done is really good and I want to do it too

199

Hi @tomo22, I’m confused by the question. What do you want to ask about EMA50?

I use EMA50, since it’s very reactive, EMA is best to use for entry signal, Some minor pair react nicely with big EMA, such as 100 and 200.

Looking for good configuration to a indicator must have a good skill in naked chart. You have to find how an indicator react to price movement. And you try to match every indicator with their parameters. It’s actually similar to how AI works. :grin:

1 Like
200

Hi @TYGMedia, Thank you for this insight.

I have been reading your stories on your businesses and your experiences.

I wanted to ask how did you learn the skills and knowledge to start your own business up?

And how did you go along with selecting a model whether it be e commerce or anything?

Regards tomo

I wanted to ask you on this because I’m thinking of starting my own up due to my free time

201

Hi @tomo22, I knew nothing in the beginning. I did many mistakes, suffered a lot financially and mentally. When you have made decision to step in this path, you have to physically, mentally and financially ready.

Physically means you need to do a lot of extra works. In my prime, I often worked, slept and ate in office. Even when I got sick, I still had to work.

Mentally means you will need to prepare to face many dead-end scenarios, you have to be creative to find a solution for every issues. When you feel depressed, no body can be relied on. You are all alone. Perhaps, I was unlucky person, none of my business partners, friends, family and others I could ask for help.

Financially means you have to calculate the number properly. How you can survive, buffer, emergency fund and every single thing. You have to have plan A, B, C, etc. Always think few steps ahead is the point.

After all, you need to be a thoughtful person. Never make accidental mistakes, meaning you are allowed to make mistake, but a mistake that have been calculated, and you have to prepare things to do to fix the mistake.

It was difficult to do in the beginning, but by time, you will get use to. It’s a discipline, no work around, our life is actually that fierce.

We have to tirelessly learning. We have to evolve, don’t like our ancient brother, dinosaur, to get extinction.

I am a founder and co-founder 10+ companies. Only 3 of them are still under me. The rest, either being closed or sold by me. All of them started from small and simple concept. If you are a beginner, you have to give it a try. You will know yourself better. Skill and knowledge is important, but experience will define your success rate.
Example, when I want to start a business, I will do some research with the business model. Everything must be started from simplicity and has economic value. Some have to be started offline, some can be run online. You have to look at your competitors, learn how they do, target market, supply chain and edges. You have to understand the concept of blue and red oceans. Pick one of them as your strategy. Blue ocean can be a new business model, leveling up from what we currently have.

You will confuse about how to select a model, unless you have experience, so you have to try to know more.

In short, without real experience, we don’t know how to design a good business model. :slightly_smiling_face:

1 Like
202

You are extremely inspirational. I’m lucky I have people to look to for help such as yourself. I really really appreciate this means slot coming from someone who has experienced the difficulties and fails and has succeeded.

:smile:

1 Like
203

@TYGMedia, Hi

regarding the business topic. Im thinking about starting freelancing. I think my goal would be to learn another skill such as website devolopment, graphic design and leverage my skill for consumers. could ponteially turn this into a business

204

Hi @tomo22, That will be a good start for you. :slight_smile:

Do what ever you like, but make sure you have milestones. Everything must be done according to a plan.

Strengthen interpersonal skill and network are very important. No matter how good you are, without these twos, you are nothing. If possible, keep yourself away from the “dark side”. The dark side is very attempting, but you won’t survive in a long run. Being honest in business will slowdown your progress a lot, but when you have credibility, on right moment it will boost all of your hard works. :slightly_smiling_face: