First create demo trading account with the most reliable traders, then discuss your strategy with the mentor of Babypips and practice your strategy with demos. By this process you will be able to identify the bottle necks of your trading styles and strategies and also the effectiveness of your trading facilities that will be provided by your broker. Once you will get the confidence that your strategy is going well then start with mini accounts.
@_bob, numero uno is momentum this implies something more than PA as a stand alone.
- Getting a thorough grasp on momentum will cover a lot of sins and put the market in your hands to trade with.
- As a more direct answers to your question, I don’t think many here will argue with money rules. In forex the big currency banks rule, hands down not is ands or butts. Thus what you’re really asking for is supply zones that bring in the buyers and demand zones that bring in the sellers, S&D zones are not the same as S&R zones.
There is a good teaching firm that has a good channel that introduces this, is free the firm is not… I do the free youtube channel… I would mention the name but I would get slammed for advertising again…
Sorry but I do not know where the line is drawn in the sand. Maybe a moderator can send me a message about this?
Hope that help.
Thank you for taking the time to reply to me. However I was being sarcastic in my responses to NaguibSawiris. His/her responses are gravely naive and misinformed.
You need to revise this. By the time momentum builds then its all over. Basically you’ll miss the bus. Don’t worry but, another bus will come along. But will you catch that one or wait for the next?
Again, you and I will never know. Do you really think big business wants its competitors to trace their money movements through open order books held at their bank. Hell no. Why price moves from zone to zone we’ll never know. Its a fact you will need to accept. My advice to you, everything you’ve learnt from your gurus and YouTube sites is pure genuine bull shite. Forget it all . As an overactive day trader - study time of day. One or two trades taken at the right time of day makes redundant all technical and fundamental analysis
@_bob, well I suppose that’s why I’m a veteran so we can all believe and say pretty much we want to. You are 100% wrong and I know several hundred traders that can prove it as well as a fund that trades several billion per month teaching momentum and the Benjamin Formular a cash management system second to none.
You may be a great tradin I would have no clue but you attitude needs an adjustment from a yank, mate.
Peace & Tranquility.
@_bob, BTW I earned 80.06 pips last night with an $800 account with no great risk. Just trading a 1H 1 ATR off a 5M chart. No Scalping just let it run until TP.
How did you do and with what size account, matey.
rookie to veteran in 13 days. Thats a record.
Calm down son. Last night was Sunday. OMFG.
Guess your 6 digit broker trades weekends aye bro.
Sometimes you have to think inside the box in order to think ouside the box.
1 Like
@_bob, correction that was +80.90 PIPS, you still didn’t answer the question matey put STATS where you mouth is!
instead of pointing one finger and having three pointing back at you!
or look at the pot calling the kettle black!
are you getting the picture mate?
Oh I so love the sensitive types
BOXES bro, think beautiful BOXES
I am trading a 0.01 lot size as I as I don’t have a lot of wiggle room. But then again that’s cash management for you along with momentum trading… LOL
Peace & Tranquility,
@_bob, sorry Bob I wasn’t trying to offend you or anyone here.
here is last night history file, hope it pasts ok I had the delete many of the columns but the just is still there. I know its not much for a night’s work but it is more than 10% of my account size. Our funds aim is to produce consistently profitable traders. I’m not quite there yet as I am still a rookie but I’m catching on.
Thanks for the word play…
1900 3/26/2018 10:57 Closed Buy Market 0.01 USD/JPY 105.069 Market -3.4 -0.36
1898 3/26/2018 10:21 Closed Sell Market 0.01 EUR/GBP 0.87267 Market 2.7 0.34
1897 3/26/2018 10:13 Closed Buy Market 0.01 EUR/USD 1.24148 TakeProfit 14.9 1.45
1894 3/26/2018 9:02 Closed Buy Market 0.01 GBP/JPY 149.385 TakeProfit 23.3 2.18
1899 3/26/2018 10:22 Closed Buy Market 0.01 GBP/USD 1.42161 TakeProfit 13.4 1.30
1896 3/26/2018 10:09 Closed Buy Market 0.01 GBP/USD 1.42043 TakeProfit 6.7 0.63
1895 3/26/2018 9:23 Closed Buy Market 0.01 GBP/USD 1.41982 TakeProfit 13.2 1.28
1892 3/26/2018 8:24 Closed Buy Market 0.01 GBP/USD 1.41822 Market -3.4 -0.38
1893 3/26/2018 8:26 Closed Buy Market 0.01 EUR/USD 1.2388 Market -4.5 -0.49
1890 3/26/2018 8:11 Closed Buy Market 0.01 GBP/USD 1.41847 Market 6.6 0.62
1891 3/26/2018 8:22 Closed Buy Market 0.01 EUR/USD 1.23934 TakeProfit 5.2 0.48
1889 3/26/2018 8:10 Closed Buy Market 0.01 EUR/USD 1.23858 Market 9.5 0.91
1888 3/26/2018 8:06 Closed Buy Market 0.01 GBP/USD 1.41812 TakeProfit 11.1 1.07
1887 3/26/2018 3:19 Closed Buy Market 0.01 EUR/USD 1.23819 TakeProfit 11.5 1.11
1886 3/26/2018 2:11 Closed Buy Market 0.01 GBP/USD 1.41729 TakeProfit 12.8 1.24
1885 3/26/2018 0:40 Closed Sell Market 0.01 EUR/JPY 129.918 StopLoss -38.7 -3.73
16 tots 80.9 7.65
Avg per trade/expenctcy 5.1 1.00
Good day, guys.
Before this discussion gets any more heated, I would suggest that we all take a step back and calmly collect our thoughts. There’s nothing wrong with having opposing views, but I’m sure that we could settle this in a more civil manner.
Thanks!
2 Likes
@Penelopip
@_bob
Thanks for your input Penelopeep, you folks are quick on the draw!
My apologies, my last post has been edited,
BTW I don’t get mad, something Mark Douglas taught me, I am the best loser I know.
2 Likes
hi Martin
sorry for not be here on the forum
last week a little in red, but not a problem. You remember I said I started use something else? I start understand more and more now.
thank you for your guidance
@IulianForex
Out of respect … for you taking the time to write this on the public forum.
i’ll do you the respect of breaking my rule to no longer be here and no longer respond via PM.
but this is my last comment on this site.
so in response to you
that’s ok… it’s not a problem (as you are already aware)
as for the Understanding and the Guidance
Mate… You’re Very Very Welcome and thank you as well for listening and learning.
We’ll continue this on email ok
this is my final comment on this site
i will make no others.
thank you for this public comment though, i do appreciate it (as you know)
Take Care mate
and keep going and stick with it, you’ll be right.
It’s so terrible indeed. 6 years of constant losses? I think, you need to stop trading for a while and do something else. Or switch to studying Forex.
yes, completely agree. He needs to stop trading for a short term but doesn’t quite this market place. you never got money from here within this time but of course acquired minimum knowledge and experience. it will works next time.
i am new in trading and i am thinking to trade many pairs in demo. actually, i think this approach will help me to increase my trading performance very rapidly.
@daddy22, what cash management system are you using? do you know your win-loss ratio? what is you expectancy? If you can answer those simple trader questions you can turn it around shortly. if you can’t it is time to learn how.
I request and suggest not try this approach , at the same time trading so many pairs is not good decision for beginners due to lack of exact knowledge. it can make you get rid.