As a complete beginner can anybody please give me the order in which I place a trade for the Sniper strategy on eSignal. For example on the long indicator I see in green Daily 4 Hour Hourly Buy 1.6447. I then wait for the price action to retrace to the red indicator which I assume is the 1.6447 entry point. In the meantime it is telling me how many pips to go before it reaches the entry point which is the blue triangle point. I assume when it reaches the entry point the display shows triggered which set off the sniper alarm. My query is when do I actually place the trade? On my account please explain the procedure for executing the trade working on the buy instruction at 1.6447. Please explain the figures I would use based on the buy instruction with the relative target and stop loss in place. There is £3000 in my account therefore I would have to work in accordance with the 1% risk ratio. I hope this all makes sense. As a beginner I want to keep it simple bearing in mind I have spent over £100 on signal and not used it. Another month’s payment is now due. It is therefore crucial I start trading. Thanking you in anticipation.
Adrian,
I may be new to the forums but I am certainly not new to trading. You should never, ever be trading with real money when you are a complete beginner. It’s suicide. If you haven’t heard the old forex adage, about 90% of traders fail, 5% are break-even traders, and the last 5% are successful. You’re enthusiasm is great and much needed for Forex, but please please please demo trade before you attempt any live trading. As a general rule of thumb, you should demo-trade for at least 3 consecutive, profitable months before going live.
Hope this helps. PM me if you have any questions!
SerenityFX
First its not suggested to trade with the help of others signal and for a new trader it is not at all recommended that they trade using other traders signals because of losses which they may face due to inability to manage their trades efficiently.
I totally agree that one should not follow someone’s signals as trading style should suit one’s personality.
It would be more prudent to learn the basics of the trade first before diving fully.
Adrian. My advice would be to forget about signal services and invest some time in learning how to trade, or your 3000 account balance will soon be gone. 