Hello Traders! 
I’m Elmucholoko, 24 years old and I’m writing to you directly from Portugal.
I am newcomer to the world of Forex, I have friends who already dominate the market easily, and as I like to learn and challenge my limits, this will certainly be a new adventure.
Of course, what I expect most in this community, besides the good time that I will spend here, is the learning that I will take from here. 
Ready for the long and ambitious walk beside you guys. 
Thank you for your welcome!
Hi Elmucholoko!
It’s great that you know people who are already traders, as you’ll have someone to go to directly for advice. This site is also great for learning!
Good luck
The best thing you can do would be to look over their shoulder every day they “dominate the market easily”. Really no need for you to be here if that’s the case…being honest.
Thank you for being honest. 
Indeed they can give me very good advices, but you cannot only use an advice from the persons that you know. Sometimes you got to learn from someone else, from other ways of working and thinking.
One of the reasons that I’m here is from one of their advices, they strongly recommended me this community, for my learning and to have diferentes points of view on how it’s done.
I hope I’ll have some good times here with you 
Cheers !
Good attitude, welcome. IMO, it’s important to find your own path on how you like trading, and stick with it. That would be your edge. Many people on here would shudder at how I trade, because I do it my way - just like Sinatra.
And I just laugh when they say they’ve entered a trade and let it run its course without touching it, presumably because that’s the best strategic process.
WRONG. Clearly it wasn’t when it hits the S/L.
I of course, manage my trade throughout and cut it quick if needed. Shock, horror. The lesson to be learnt from the above is you won’t be successful if you are unable to understand this.
That’s right S …you have said all you really know.which is totally bias,almost like you are trying to manipulate the mindset of this young traders especially in a business that you should keep a leveled head…
The real issue is that most new traders enter trade on impulse…I am guilt of this in the early days…but being mentored and trading more than 6 years,with my collective and extensive knowledge on forex…I have understood that you need have a trading plan which have been backtested over 100 trades meeting the conditions of your trading strategy and a good risk management plan as to know how much you are willing to risk per trade (risk tolerance level)
There four requirements that needs to met before I place a trade… it’s the C.E.S.T
(1)condition:these are the conditions of my trading plan and strategies…set of rules that shows me which direction going
(2)entry point:this is that confirmation point in which you place your trade for maximum profit
(3)stoploss: this is the point that show the maximum you are willing to risk for a trade and also closes the trade once that point is reached…it’s imperative you find a good risk to reward ratio that works for you and the amount you are comfortable
(4)Targets:this is a point set as most profitable you are in a trade in which you want now want to take profit…
I guarantee you if you master this and understand how to set a good risk to reward ratio with a good strategy like I have…you will be profitable over time and not some newbie trader who nothing to do with his time than to play with his stoploss
In all welcome and congratulations on your new journey…may you find favor in it
Corbin, Thank you for your response, albeit condescending at times. As an intraday trend trader utilising the Daily, 4hr and 1hr set up which must correlate and be consistent like 3 ducks in a row, I rely on my backtesting that has been in place as being profitable since the 1960’s - Ichimoku.
From that, I get everything I need and expect as to how to trade the Forex market. When following a trend, while it is feasible that I could enter at the beginning, if lucky, I’m not going to miss a profitable opportunity by waiting for the ‘perfect’ ambiguous entry point. The market is not going to do me any easy favours.
Yes, I set an initial S/L which is no more than 1% risk per trade, always, and I never have more than two correlated pairs running at the same time. Where I differ from most is to manage my trade, not just let it run its course. It’s called money management.
That involves target setting of a differing nature. If a trade is positive, and price moves in my favour, my first target point and aim, is to hope to reach the breakeven entry point. this could involve shifting the S/L minimally to aim for a 0.75 risk…If reached, I can then relax and decide how I’m going to play it out. I could use a trailing stop, or even manually move my S//l towards the action.
As I’m hoping for a reward ratio of 1.5:1 and the trend is still continuing in my favour, that’s my 3rd target point. Another decision time, do I take a 50% profit or let it all run. Well that very much depends on the four main indicators I have running.
1.RSI bar set only at 50. Above 50, it’s a bullish trend, below 50 it’s a bearish trend. i delete the 30-70 as being an ‘over the hills’ unprofitable signal.
2. PSAR, which is a lagging indicator I’ve quickened up the settings to indicate a change in direction no more than one ball. I use that in correlation with -
3. the MACD histogram bars which show the depth of the trend. Naturally, I’ve speeded that one up (tested 100 times against other settings confirmed by Trading Rush) with an earlier entry point signal, I’ve also tweaked the Ichimoku settings to conform to a 5 day trading week from the original 6 days as used by Japan in earlier days.
4. 60 EMA. I buy below and sell above. Must correlate with Ichimoku red(fast) and blue (slow) line signals.
I have three other confirmation tools, Market Watch on here, Trading View currency pairs and info from my phone app MYFXHELPER which I use to determine Buyer/Seller strength in all main time frames before entering a trade.
And finally, I cut losing pairs readily if they’re not performing. Use the savings to fund a better trade. There’s always one awaiting.
if you need any more information about how I trade, e.g. increasing the opportunity of making larger profits at minimal risk, how to psychologically plan every move and mindset and occurrence, and have the patience and discipline to follow my system religiously, please let me know.
steve 369.
Wow…I get you Steve but I feel like you have lost sight of the purpose of this forum… you trying to prove a point at the expense of educating these newbie…
I have my system of trading and I am not trying to shove it down people’s throat…whoever I do my utmost best to educate the newbie of the basic structures they need to know before taking it a step forward and explaining the forex lingua and tools needed to make good technical analysis
Some of these guys don’t even know what a 50 ema means Steve… try to get their views because you are not only addressing me you are addressing everyone here and you have that mind especially when we are literally welcoming a new member to this forum…
And you forget that most of us have a busy lifestyle including mentoring,work, golfing and other stuff so we make sure that details are in place to make sure risk is being managed to our best of our ability as we can’t all sit and stare at a computer screen all day like you
And with a proven strategy that I use that show a 70% profit is just golden…that means on every 10 trade,7 is profitable… which goes to show how meticulous I am about my trade and I always go for trade that I am 100% sure of…
Great job Steve,putting in more work and I assure you will be profitable in no time
its a very nice post with so many information,
thanks for your nice share. got so many fine lines.
Yes, quite right. I lose sight of helping newbies at times, mostly because many think it’s a fast track to making money if you only press a few buttons, while relaxing in a beach. If they’d seen the hours I put in, the blood sweat and tears it takes to just become a break-even trader. When I left my 8 month demo account (which I learnt how to trade as I do now as though it was live) I was running at a 32% APR over the last 19 weeks.
Apart from recording each trade, I’ve Excel spreadsheets on progress of all kinds - overall win/loss ratio, buying and selling win ratio ( which if its within 4% of each other, the strategy is good). I was running at 51% & 53% over 255 trades. I even have a sheet that records which days of the week are more/less profitable - and similarly for each forex pair.
Plus I’m writing a daily diary, come book, as a historical record of my progress. Right now, you could call me a break-even trader peddling a $1000 account - but call back next year, see if I made it, ha ha.
For newbies reading this, apologies if I overstep the mark. I mean well.
I’m really surprised at your mentality/ way of working, on the positive side, of course. It’s amazing how complex the trading path is, just as mastering it is not an easy task.
I’ve been reading each line of your answers, and as @corbinknox said, @steve369 used terms that I’ve never heard and certainly must be something very technical.
However, I really appreciate the time you took to share this fantastic information. 
I know that I can count on the help of well-trained guys during the long journey that awaits me.
Thanks for your support 
You’re welcome. Best of luck with your learning and progress.