I am not good at math, can I still be successful?

Beginner Questions
54

You’re welcome
and in the future… some Friendly advice… ok

if you want the forum to be better , try understanding that it’s not our fault all the time… ok
if you want a forum to be good, IT’S A TEAM EFFORT, it’s not just one side that stuffs it up

also
GO AND DO IT MATE… it’s as simple as that
GO AN BRUSH UP ON YOUR MATH… ok

if you don’t , YOU CANNOT TRADE… dont’ even try
if you do, you’ll Lose

hey for the record… FYI
remember when i said to you, I’ll even teach you if you want me to
i was also going to say , if you did it , i’ll give you $100 (Seriously)

and i would have …just to motivate you
but. you had to go and do all this, so now why would i do that ?

you said, what i’m saying Demotivates Newbies
well
How about What you said Demotivates me and makes me wish that i didn’t write 5000 words for nothing
how about that

Just something to think about mate. ok

55

We seem to have gotten our wires crossed. You seem like a good bloke and want to help so I appreciate that. I am very new to trading and have a lot to learn, however everyone has to start somewhere! I am open to any and all (constructive) advice. What I do not like is others in this forum telling me that I am filling this forum with trash simply by asking a newbie question in the section for newbies.

56

@TheTexan1984
Hi mate, i’m going to say something and I NEED YOU TO NOT TAKE IT PERSONALLY , NO MATTER WHAT OK

it’s important you understand this… ok

Now. in those past comments
I can assure you i was just trying to help you

Secondly the "slap to the head " thing, has been brought to my attention that you took that offensively.
I apologise if you did
Now. Text can sometimes cause confusion, i accept that, but Mate, that was a joke that was supposed get you to lighten up and understand what you were doing wrong.
clearly it didn’t come across that way. so… Sorry, it’s not what i meant

now my account was just blocked as a result of all this

and they were trying to figure out if i was being abusive to you or not.
I CAN ASSURE YOU I WAS NOT

Mate, from my point of view, i was helping you , i offered to teach you math on skype, i kept saying i’m not being rude.
I mean… what else can i say
anyway…

it seems that you took everything i said as rudeness, THAT’S NOT HOW I MEANT IT TO COME ACROSS… OK

now let me address your points.

yes, i would say that definitely happened

thank you and so do you and i understand about the math, i have friends who were in this situation, I GET IT…
I"m not trying to publically embarrass you , i’m trying to help you, that’s the purpose of the forum

i’m glad to hear that, but it really didn’t sound like it

i know that , and i’m here to help

exactly

Ok… Honestly… i really doubt that
but, OK. if you really mean that , then I’LL HOLD YOU TO IT

we’ll get to that in a second… ok

let’s addrress this first

but… i didn’t say that
i didn’t say you are filling the forum with trash, Now… i didn’t re read the whole conversation, but i know that i don’t use the word TRASH i would use the word RUBBISH instead
i didn’t say that mate, and feel free to show me where i did
(and i mean this in a nice way… ok)

now back to this…

Mate, this is awesome if you are
but i was giving you advice the whole time and you were not accepting it.

so… OK LET’S START AGAIN… ok

in a nutshell… You were saying this…

and that’s good
so my question numerous times was…

SO WHEN ARE YOU GOING TO DO IT ?

because i’ll tell you this for a fact
IF YOU DO , You have a pretty good chance of being successful

Math is a part of it
Psychology is a part of it
Emotions is a bit part of it

if you get these 3 things down you have a damn good shot at it
the math part just requires some brushing up on basic maths, that’s all

so… if you can take advice
welll TAKE THIS ADVICE… GO AND DO IT NOW
and if you need help on math
PM ME ok
I’LL HELP YOU, it’s not hard… ok

I apologize for the misunderstanding, but i was just trying to help you … ok

Take care

57

From my point of view mathematics and forex aren’t directly related that’s why you have a chance of success in this area. However the lack of thinking can interfere you with trading , there are some moments where your analytical abilities will be required. But it’s worth trying.

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59

i can respect that opinion even if i disagree with it
but let me add this to the mixing pot

even though i know luck doesn’t exist, but i’ve given up trying to convince people of it, you obviously think luck still plays a part

ok, let’s say it does
but, Your theory only applies if the market makers are fair and they are not doing anything to hinder the luck one might have
but i can assure you if an element of luck exists it has been squashed to almost non existence, thus bringing us back to the fact that we need to find a mathematical solution to this.
the other option is a fundamental solution, but you will encounter mathematics through the process regardless
just thought it’d throw that in for consideration :stuck_out_tongue:
be cool

60

Hi @TheTexan1984,

Can you understand the math in these ten posts?

  1. Confused about position sizes and Account Margin Used
  2. What is the best leverage?
  3. Trouble undetrstanding Position Sizing
  4. Both buy and sell positions losing?
  5. How much units cost
  6. Pip value for 500 bucks on metatrader 4
  7. Trying to understand leverage and my own expectations
  8. Discussion on setting stops losses and risk management
  9. Etherium flash crash triggers stops and margin calls on GDAX
  10. Can someone tell me why this trend reverted exactly on my position candle!?!
61

It’s a good message you have done… thanks for the reply.

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62

I also think like you as maths is not much needed in forex you can do forex with simple maths calculation. Much important for my point of view is practice on choosing lot and finding right time for trading according to your trading style and capital.

63

Yes to be good at math is not a big deal in Fx trading to make sure a healthy trading life. Patience and practice is more important in here, because it a long term process to acquire success and that’s why there is no way to ignore patience and practice.

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64

There is no way to ignore the importance of patience. but the main challenge is learning and practicing at the same time.

65

I can relate to this topic. I’m also not so good at maths. I’m still going through the school and it takes up so much time for me to grasp a concept. But I feel that we are not in a race anyway. With more time and effort even if I’m not good in maths then I’ll eventually get there. The important thing is understanding everything until the concepts taught stick.

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66

Just like what @Pipcrawler said in his post here: Pipcrawler’s Thoughts on Setting Newbie Expectations

:blush:

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67

Good thinking with different reply.

68

When I first learnt Forex couple of years back through a paid course, I was given materials and position size calculators that did everything for me. I was weary that I did not understand what was going on, the profits and losses, leverages, etc. how these were calculated so that I could improve. The good thing is that I have an engineering background so my maths level is quite alright to understand babypips formulas etc. By creating my own position size calculator, I finally understood many sections in babypips such as on leverage, account balance, the commissions, and other numbers I see on my MT4. Other formulas such as risk/reward ratio, %, compounding %, etc are crucial to understand so that I could layout a plan for myself and as a check to identify and improve on areas I was weak in. Maths and Forex in my opinion go hand in hand. Although I was fortunate to have a good maths background, you must know that I did not start off with that. As a matter of fact, through my younger life from primary to highschool, I usually only “just pass” or failed in maths test and exams. But when I was miraculously accepted into college to do engineering (yes I have always wanted to engineering despite my maths situation at the time), I told myself, “This is it, buck up on my studies or get the boot in life”. And so that started my journey to attain a good level of maths. What I am trying to say here is that, no matter what you do, there is always maths involved if you want success in the top tiers which is Forex in this case. Unless we are in the top tiers of traders…the rest do not make profit. And basic maths can be learnt by practice quite easily.And I must say it is easier to learn Rocket Science than it is to learn Forex because there is an element of psychology in Forex that cannot be mathematically calculated accurately.

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69

What a great first post from a new member! Welcome to the forum, Farex_huat. :sunglasses:

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70

What is maths on forex for? ) I’m not very good at maths either, but it doesnt prevent me from making money on trading, so don’t even bother about that stuff.

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71

Dear Texan1984,

a candlestick have 4 values.
open price
close price
high price
low price

open to close
= open price - close price
= net pip gain

High Low range (assuming daily candlestick)
=High - Low
=daily pip range amount

1 week has 5 days
eg. daily pip range for the following
Monday = 80pip
Tuesday =70pip
Wednesday =100pip
Thursday = 70pip
Friday =70pip

Average daily range
= (80+70+100+70+70)/5
= 78pip

Average daily range have a start point and end point. It is up to you to define.
Eg. you can use GMT 0000HR as start point and 2359GMT as end point. Say for example, at GMT1200 HR half the day is gone,more often than not, the high point or low point of the day is incomplete, and will be completed only by 2nd half of the day. You could make use of the average daily range to project how much more pip there is before the High Low of the daily candlestick will be completed.

Occasionally, High Low range is completed during the 1st half of the day. Usually it just mean that particular pair is dead. It may be a better idea to start searching for other juicy currency pair to trade.

The above is just an example of a trading idea or you can call it targets projection if you would prefer. In forex, you only need to know how to calculate AVERAGE values, ENTRY price to TARGET price and ENTRY price to STOP LOSS price.

Most of the time it is just addition, subtraction, calculating average or mean values. I would recommend reading up on mean median mode and learn a bit on how to determine certain values. It would prove to be quite useful later on.

The maths involve are not rocket science, pretty elementary I would say.

Lastly, just make sure the risk reward ratio are worthwhile before taking any trades. The stop loss are usually the high point or low point of the current daily candlestick.

Good Luck!

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72

The Texan 1984

Have you been through all levels of Babypip education. If you have it is clearly indicated what you have to do! If you didn’t understand anything in the course, I am sure there would be many individuals here willing to help.
Have a positive attitude and you will get there eventually. Just remember anything worthwhile takes dedication, hard work and patience!

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73

This is a very common question and can come to the mind of a new trader. In forex market the trader has to make a lot of analysis and interpretations, though it doesn’t require high level mathematical knowledge like theories and laws but still some basic calculations are there. You can be successful even if you don’t have high mathematics knowledge, as there is a availability of various calculators in forex which a trader can use, but manual calculations are considered as good as it gives the trader a deep insight of what is going in the market.

74

Don’t give up. Practice, learn and demo and you will know :slight_smile:

1 Like