thank you for your replies i will look at each one and see if i can make this work.
put i do have more too ask you?
how do you know when a trend ends?i make pips and lose them.
when is the trade bad?when drops to were?
ive got out of a trade were it went down 50pips thinking it has turned around just to found out the trade when back up and more
.
Hi
once you get familiar with the basics discussed here I would suggest to follow the trading system mentioned in the school here.
It helped me a lot to sustain (small) newbie-profits.
Practice, practice, practice.
You’ll probably try many more things before you come across a combo that works for you. Try writing a system down and make sure you follow it.
I am just starting out also, and for advice I look to the bloggers on the site like comdolls and pipcrawler - for a system that seems to work more than it fails ie: if you follow it it you will likely make more than you lose - and ALL systems lose sometime or another - check out Cowabunga. The advantage to these folks is twofold, one - and most important - you can go back in the archives and see exactly what they did and how they performed in the market. second and of interest to both of us - is that they try to explain WHY they pick the trades they do. If all you do is follow their trades you will more likely than not make some money - but if you can get a sense of what they are thinking when they decide to do a trade you will understand the market better - and be able to decide on trades on your own.
The most important rule of all ?
NEVER risk more than 1% ! Otherwise a bad streak when the market goes it own way for whatever reason will deplete your account and you won’t be able to take advantage of the times when the trades work.
GOOD LUCK !