Hi everybody I have seen some of the posts in this forum that make me sad. I can see by questions some people ask that they will find it very hard to make money in Forex. I have been telling my self there is nothing I can do about that, some people are just destined to fail but I am fed up wit it.
Babypips is a great site with great information but trading Forex requires more than what Babypips provides. It gives you a start and it gave me my start but I had to learn more before I became successful. I love Babypips it got me started in Forex and now I think it is time to give back to the Babypips community.
For this reason I thought I should write an ebook explaining exactly how I trade. I will not charge anything for this book it is [U]100% free and it will have no advertising for any products or services[/U]. It is purely going to be a book taking you through what I look for and do when trading this market.
What I need from everybody here is an idea of what you want me to discuss in the book. I want to make this book for the Babypips community so it is important that I know what you want in it. So please take 2 minutes out of your time and give me some ideas of what you want me to address in this book.
Along with your reply also give me an email address (private message it if you prefer) to send the book to when it is complete. It will be done in a few weeks thank you for your time.
P.S. I can not guarantee the book will make you rich but I can guarantee it will be honest, unbiased and will only have things that really work. I will only write about things I have used.
I agree with your view on the posts we have seen here lately. Many of these basic questions are answered in the babypips school. (There are notable exceptions who post useful thoughts - TopGun, rhody, james, pipbull, the “old hands” - sorry if I left anyone off.)
Babypips has a unique take on trading. Information is presented in a positive, encouraging, and humorous manner. It’s fun to read. I hope your e-book will be presented in similar fashion.
Babypips is a great site with great information but trading Forex requires more than what Babypips provides. It gives you a start and it gave me my start but I had to learn more before I became successful. I love Babypips it got me started in Forex and now I think it is time to give back to the Babypips community.
I agree again. There is plenty of general information out there already and we all need to dig deeper. What are the three [U]most important discoveries[/U] you have made along your path to forex success that can illuminate practical trading application for other prospective traders? Would you share those thoughts in your book?
I’ve read many e-books, along with others that I bought, and I found that most of the information you get is pretty much the same. The only book that has a different view was benoit mendlebroit’s the misbehaviour of the markets(and the psychological ones). I’m not saying get all mathematical, but if you could fit in new topics like how you go about assessing risk on each trade and in a previous post you said to have descretion and not take a bad trade (but you are a mechanical trader, correct). I would be curious as to how you would go about that. I may be mechanical, and have failed when doing that before, however if your technique can be incorporated it would be of much help. Also I would like to know how you go about when your system is in a losing period. Once those gravy months are over is there any way to limit your losses more. I’ve tried past data, cycles, tight stops during these times and have been burned by all. Other than that, I’m pretty much set for money management, thanks. I hope more reply though, this could yield great insight for them. Have a good one eh!
Yes - the more I read the more I realise that money management and determining profit and stop loss levels are what is most important.
I do not think there is much point in going over explanations of indicators etc - this info is easily available elsewhere, more how you personally pull it all together into a method and trade day to day.
That sounds like a great idea, the effort would certainly be appreciated Groovenator.
I’d be interested to hear about various take profit strategies you have used and the strengths/weaknesses with each. Also some personal/psychological difficulties you faced and/or still face, and what your solution has been.
One issue I’ve never seen explained to my satisfaction until today is stop-hunting. It might be worthwhile to cover the idea behind that, and how smaller traders can both take advantage of it and avoid being whipsawed out of the market by it.
Many of the posts (questions ) I have seen seem very basic that are covered in the Baby Pips school and it makes me wonder if these posters have gone through the school at all and if they have did they take the time to understand each lesson. IMO if you’re new to Forex (like me) you should take the time to go through the whole school before posting questions.
At any rate I love the idea Groovenator and welcome your experience. I love reading the generous posts by the experienced traders in this forum. At the moment I can’t think of anything I would like to see in your ebook. There is so much to learn in Forex I’m just trying to absorb a little everyday.
I would like opinons from the experienced traders on the optimum time zone to live in and have a decent chance to be successful. I live on the West Coast and can’t imagine being successful unless I permanently change my sleeping habits.:(. I think I would rather move east then do that.
A more practical alternative would be to change your trading style to something longer term that doesn’t require you to watch quotes all day while the market is active.
You could cover multi-time frame analysis, drawing trendlines & s/r lines and fibonacchi in more detail than you can find in the basic courses. These are the things where I can never read enough about because everyone has a way to do it better
Thanks in advance for entertaining the idea of the ebook on FX. Many of the newbies here as myself will greatly appreciate your endeavor. I think the School of Pipsiology had covered the basics and the nauances of FX trading quite well. What I think will really help us (FX newbies) will be the set-ups that you use and your daily pre-trade, in-trade, and post-trade analysis and thoughts that you go through. This step-by-step practical and tested set-ups that you can share with us will go a long way in expanding our FX trading toolbox and will be grateful for it.
This is true and I have thought of this but I am a long way away before I have the knowledge, finances or confidence to be a position trader. Right now I feel more comfortable watching the market. I feel like will learn more bye watching and trading the market while it is active.
Thanks guy I would like to be included on the list I have been studying for 2 months and now would like to finance a account so not sure if I’m planning to start trading with my cash yet but I will be looking at the demo for 30 days and tracking my results.
Best of luck and we’ll be cheering U on my fellow Pippiser
Thanks for all the ideas some I do not know about and would not feel right discussing things I have no knowledge of. it would be a waste of my time and yours but most of the mentioned subjects I can write about extensively. All the ideas everybody has given me is enough to fill 10 books.
That doesn’t mean stop I still want some more ideas.
Don’t forget to private message me your emails so i can mail the book out when it is completed.
Here is a good definition of stop hunting. Do not place your stops at obvious places like double or triple zero levels, or at key resistance points. Place them 5 or more pips beyond those points to keep your stops from being taken out.
First I don’t think it needs to be mentioned but just in case you were thinking of it. Don’t give us a history lesson. There is too much info on that subject already.
I have had a hard time learning how to drawn FIBS. I know how to do them and read them it is just where to place them. I’m getting the feeling that that is just a matter of personal prefrence.
I’m also intrested in learning more about ELLIOT WAVES. They seem vary useful, but all I can find on them is 5 up 3 down, just to condence it.
My 2 biggest questions are WHAT INDICATOR TO USE FOR WHAT TIME FRAME. I have heard that stoch is no good for sideways markets, and macd is better on the shorter time frame charts. DO YOU CHANGE YOUR PRAMERITERS FOR DIFFERENT TIME CHARTS. I saw a video on youtube.com they said that with macd (just an example) in the 15 min sharts you should set your numbers to match the hours of the day (ie 12= half day, 24= 1 day, 48=2day) and the day charts should match the days (ie 5=1 week, 15=2 weeks ,30=1 month). They aslo said that you should set up your MA’S like this. 5,10,50,200 I have found to be pretty good.
Well thanks for hanging yourself out there and offering us your advise. Cant wait to see the book.
Hi,
Thank you for the new e-book you promised to release shortly. I think it is worthwhile. The greatest problem a newbie faces is how to manage the initial set-ups. Particularly, the stop loss issues, the entry components of,exits multiple placements. etc. I will be gratefull to also receive the e-book.
Hi,
Thank you for the new e-book you promised to release shortly. I think it is worthwhile. The greatest problem a newbie faces is how to manage the initial set-ups. Particularly, the stop loss issues, the entry components of,exits multiple placements. etc. I will be gratefull to also receive the e-book.
They all work for someone, just not everyone. I have tested many trade styles from e-books. Some i have paid for and some I have not. All the trades styles worked. Some worked for these people, some worked for those people, and others worked for other people. Keep in mind some people want security and others want a large ROI.
In your e-book list as much as possible about your personality, your experience, and your lifestyle. You man add how life was when and where you grew up. Put in as much as you can. This will be very important to the people who are reading your e-book.
