Introducing Myself

Beginner Questions
1

Hello Everybody!

I’m a 25-years-old electronics engineer from Italy.

I discovered forex more or less 3 years ago from a collegue I had at that time: as a firmware developer, I started programming Expert Advisors for MT4, but honestly without any result. I left the forex world after a while, and then here I am, at the end of the last summer I came back willing to study forex and work on it “manually”.

I’ve read almost all the School of Pipsology topics and I’ve trade a lot on DEMO accounts; it looks like that I’m not a good scalper (too much anxiety) and I’m not a very good swing trader (I don’t like the sense of lack of control of a trade left alone at night), so I’m thinking to follow the 3 ducks strategy for day-trading

I’ve never started trading on a live account because I think I’m not ready at all: I’ve tried to follow different strategies, but any of them seems to work so far.

I’ve just a couple of questions for someone who knows this world better than me:

  • Is it possible to Day-Trade looking at the screen for 3-4 hours each day?
  • Is the 3 ducks strategy good for a newbie?
  • Considering that I would start with a 10k account and that I don’t want to risk more than 1%, does someone know a good risk management strategy (Lot sizing, Stop Loss placing etc) to suggest me? I only want something to start from.

I hope that my introduction and my questions are clear, if not, please ask!

Thank you everybody, this website is great!

Raffaele

1 Like
2

Hi Cico Come Sta
a Fellow Engineer huh :stuck_out_tongue:

let me address some thing if i may

I’ve been trading for around 8 years, i’m trading very profitably at the moment so let me give you some advice…

this is good

this is also good

and… this is why you’re an engineer :stuck_out_tongue: and why you’re not an idiot. Plain and simple.
Smart people know when they are not ready
Stupid people jump in out of greed 1 week after being on a demo account
THIS IS GOOD MATE. Stay on Demo Until you are ready

Now how do you know ?
here are the guidelines

  • Must be able to show a profit over min 6 months
  • the profit must be consistant
  • the growth must follow some sort of consistant logic and growth pattern, you can’t be spiking all over the place.

if you can do that, you are ready.

Re the Rest… I’ll PM you
speak soon

3

Knowledge is key to success in every field of life as in Forex. If someone knows which things move the market then he can be a successful trader. The main thing is that trade as low as possible with good management.

4

Welcome to the forum. And I must say that forex is one of the largest financial markets around the world which is offering versatile earning opportunities to the millions of traders per day. And please be sure to gain sufficient knowledge and skills about forex trading so that you can feel comfortable while selecting your trades.