i went through the whole baby pips school program … now i have started to play on demo account with Instaforex …
What ever i learned from the program is that 1st i have to concentrate on the one pair and its movement … so i am doing it …
but i am not getting understand when i should buy ans sale …and at what time … or what market position … is that any news follow or any simple clue or step that "if such is happen u have to buy euro/usd and if such is happened you have to sale "
is that kind of help can i get ? and if yes from where … and if not then what should i learn more ? how i should watch the graph of mt4 ? how should analysis that i have to enter with buy or sale and i have to exit with buy or sale …
please answer in details… as i new i do not want to loose the confidence and i want to work hard to learn this …
as soon as possible i want to start on live market…
please
here is my demo account details …
amount 10 000 $
leverage 1:500
spread 2.8
please make me understand this… what i have asked …
For me it seems you didn’t graduate from the school of pipsology, do you? May be you read some chapter. Atleast complete middle school.
First, for the success in this business you should have ultimate patience.
You want to trade live as soon as possible, right? Is there any tight money problem for you? My friend, urgency will harm your money seriously in this business.
We are here help you. My suggestions are given below.
Graduate from the school.
Get an idea about all pairs. (majors, crossers and exotics)
Learn candle stick patterns especially pin bars, doji, inside bars and engulfings etc.
Learn different chart patterns like head and shoulder, flags etc.
Learn how to draw trend lines.
There are many indicators, stochastic, Atr, MACD, BB etc.
Last find a suitable trading sytem for you. And make a trading plan.
After graduation you will come to know how and when to enter a trade.
Do demo atleast six month and fund a small amount to your account.
I am not trying to discourage you but trying to save your money.
Patience is virtue. You need it. Tomorrow never dies. The market will be here forever. So learn.
Amount:The money from which you are gonna practice on Demo account.
Leverage: Your leverage is 1:500 so 10000 X 500 = 5000000 $ is the total leveraged amount in your account i.e you can place the trades upto worth of 5 million US dollars.
Spread: The difference between the bid and ask prices by the liquidity providers.You may consider it as their fee.
Of course none of the forex traders randomly picks the buy/sell position.We all have rules,we have systems,we have experience.A system is a set of rules which you have to follow during your analysis.It may seem very easy to stick with the system and those simple rules at the first glance but it’s never.We all have to choose a system which suits our trading personality and our daily routine and than we practice and again and again practice.As u know"Practice makes a man perfect".Be a regular student at the School of Pipsology and take forex seriously as it seems to me that you have a very little knowledge about it yet.When u think that you have scratched the surface barely at least than choose a system.You might have to take a look at here:Free Forex Trading Systems and practice on Demo account.Remember!!! Demo account is the best friend of every newbie in the forex world.
Dog, you have to evolve, its a longggggg process, step by step… Your success is hinged on your efforts you put forth…
I can honestly say I have over 9,000 hours of chart time, meaning, Just watching candles, how they react to other candles.
Keeping notes is the most important thing…
You say you went thru the school, and I hear the school is pretty good, but you seem to not be able to grasp the whole idea of Trading… So Im going out on a limb and telling you the learning curve is going to very difficult if you cant answer your OWN questions in post #1…
Correct?
Forget Demo, throw $100 on an mini account… 0.01 per trade.
i am glad and very much thankful to all of you that have found time for me whatever is my name and country …
i am really glad that step by step i will learn here … but most of the time when i read the babypips program i am not able to understand as there is not live market thing … just watching a picture and how it was and how it would after some time and thats to image is difficult …
and yes i am running shorts of money and want to learn this to make money … so please send me some basic strategy to make it simple study … thanks …
sorry dawg - there is no shortcut - check my join date “2008” i think - and I am breaking even dats it. no magic -
for me part time for over 4 yrs - maybe I am slow?
Everyone is different and some people just catch on quicker. How much time did u spend in those 4 years? I’m just curious cause I’d like to be full time in 2
Good point: I did fail to mention - I am a part timer – I have never put in a 40 hr week on this - - more like 2-15 hrs a week - a 2 year goal likely is doable (I really don’t know for sure- like you say, depends on how quickly you catch on)
I try to avoid the news at all cost. But that is my way of trading, everyone is different. I try to enter near S/R levels and always know when there is a news announcement coming, to make sure I am not placing a trade that will only be stopped out within seconds.
you are not qualified to go live as soon as possible.
You clearly need to study more.
make sure you understand the concepts BEFORE you study the subsequent chapters/levels.
please make sure you follow my suggestions, unless you want to lose a lot more money in the process.
dats it. no magic -