Hi Guys, It's me. I'm New

Thank you x

Iā€™m definitely feeling better this week! :grin: thank you! Iā€™m really fortunate so many people have offered up such great advice on this thread. Thanks everyone xx

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You are welcome.

Youā€™re very welcome. You will, over time, settle on your preferred approach, but one thing I think all successful approaches probably share is that they are methodical, bordering on mechanical. If I see a potential setup, then there is simply a set list of things I do next to see whether it passes my tests. I do them in the same order, I apply the same judgement to it, so I am almost entering on autopilot. Being boringly consistent in your approach might makes your returns boringly consistent, too. I always figured that I am happy to be boring at work, as I can have my fun when I am spending the proceeds!

Simon, i didnā€™t Check your past entries but did you ever share this list?? Iā€™m curious about this test Like ā€œiā€™ll get in trade if itā€™s double top/bottomā€ or Like ā€œif itā€™s triangleā€ā€¦ Ä°f you didnā€™t, could you please share?? Iā€™m trying to set up A strategie also Like, iā€™ll trade only if the price hits to trend line or s/R line for the third timeā€¦ May be i can enrich mine, with your tests or rulesā€¦ Thank you in advanceā€¦

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@lillyw91 ,

Welcome to BPs!

Itā€™s a great itā€™s a great place to learn & meet new Forum friends!

Good luck!

KC

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Thank you @frandlost

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I think I have historically a few times, years ago. Iā€™d caution against looking for someone elseā€™s off the shelf list of criteria, though, as context and experience are as important as anything on the list. But Iā€™m not being resistant. Itā€™s in my head, these days, but it would be something like:

Daily chart, is there a clear trend or range or reversal?
Monthly/Weekly chart - is there an obvious level?
Within the clear trend/range or reversal on the Daily, is PA giving a likely setup, where in the cycle are we?
Throw on S&R levels - do they intersect with PA?
Is there an EMA in that same zone?
Have Fibonacci levels been powerful within this move (not for ranges or reversals, just for trends, for me)?
Do those last few suggest any future level Price might reach?
Is RSI showing overbought/oversold?
Is there a news event about to get in my way?
Does the proposed TP give me room for 1:1 or better?
Does the PA/cycle on the 240/Hourly support my idea, and does it give scope for a more elegant/efficient Entry?

It would be something like that. Not claiming that it is exhaustive, or that it will make you rich, but Iā€™ll be in that zone for most setups I take. I scan a lot of Pairs and only take the strong ones, am happy to sit out not losing money rather than be in taking setups which donā€™t really fit enough criteria.

Sorry again to be so slow responding, and I hope that that gives you food for thought. Weā€™re all different and took different routes to our own today, so it might be complete junk for you. Just please donā€™t shout at me if you adopt that and lose money. You wouldnā€™t be the first!

ST

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Hello Lily,

welcome to the Babypips forum! Feel free not only to learn and observe but to participate in the discussion too, weā€™d all love to have you!

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@lillyw91 We have not heard from you in a while: how are your health and your trading?

Hi! I am still here and still trading. Iā€™ve just been answering some questions to help with an article about female traders so that was really nice to be involved with. Iā€™m not sure I made much sense but still. Health wise Iā€™m totally fine now, I had a minor operation that sapped all my energy for a week or so but I am good now. How have you been? How is your trading going? xx

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Thank you so much xx

Oh hello, great to hear from you, back in full health!

Can I ask who the interview was with, or even better, would you share the link (if online)

when published?

Look forward to your posts.

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Itā€™s more of a community engagement initiative actually not really an article. So it will be on baby pips. A lovely lady penelopip asked me to take part in it. I know sheā€™s still waiting on some responses so it might be a little while before itā€™s posted yet xx

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We look forward to reading it!

What are you trading, by the way?

I trade forex and occasionally some commodities. What about you? X

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Oh yes, I meant which forex pairs ? :slight_smile:
I am still trading exotics (TRY, MXN)ā€¦

Ahh right haha! I did wonder as I thought I had mentioned that I trade forex before :joy: to be honest I donā€™t exclusively trade certain pairs. I stay away from anything with a high spread. Mostly I trade EUR/GBP/USD/AUD/CAD/CHF and JPY pairs. Over the past few weeks Iā€™ve mostly been looking at AUD pairs. Do you think itā€™s more beneficial to set a few pairs and only concentrate on those? Xx

I see ā€¦ Yes, exotic pairs do suffer from lower liquidity and higher spreadsā€¦

You would not like them very muchā€¦

There is no real advantage in diversifying if you are diluting your time

and energy at the detriment of focus; however, for people with small

accounts it may feel difficult not to shop around for better deals when

their currency pairs/asset class of choice is so calm that nothing

moves and no money can be made thereā€¦

Because we do not know how our chosen asset will behave in the future,

and we only traded (for example) a singe asset - say, one currency pair -

we may face a difficult choice when, while sitting on our hands for several

weeks in a quiet period (e.g. very small pip movement, directionless, not

enough to call it a ā€˜rangeā€™ by any stretch of the imagination), we start

wondering how long the quiet period will lastā€¦ Indeed, if we did nothing

there could be the real possibility that we could cut ourselves out of

months of potentially good trades by just adhering to the 'I must stick

to my rulesā€™ mantraā€¦ Sometimes rules have to be broken and it is not

a bad thing: for example, if your chosen asset is not correlated to other

assets that move better during a quiet period, why not branch out and

try just one more?

What do you make of this angle?

Hi sorry it took me a while to get back to you. I hope youā€™ve been ok. Thanks for taking the time to write all that out I really relate to that actually as not trading is something I struggle with. I make bad trades sometimes just so that Iā€™ve got something running which is something Iā€™m working on and definitely getting better atā€¦ slowly haha. Iā€™ve lost a bit of confidence in myself recently, I just havenā€™t been trading as well as I was before. So this week Iā€™m going to self reflect and look back over some of my recent trades xx

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