Jumping over a Fence!

Trading Discussion Trade Journals
1

Greetings BabyPips!

I totally found this site by accident, what a great discovery this has been. I’ve traded (and lost) over the years and finally, decided to jump , leaving the 9 to 5 feet 1st into the world of Forex! I am a sponge and this site has been amazing at filling up my head with nuggets of wisdom.

The Plan:
100 DEMO trades after I complete ALL sections of BabyPips before i even think of using Green Backs.
Alway use a Stop loss within a % of ATR (still trying to sort out that % rate).
Understand that my EXITs are more critical than my entries.
Keep indicators to a minimum.

Risk Management:

  • No more then 1% of my account balance
    ** Never more then 4 trades per day
    *** However, I can do 2 trades and double the number of units trades for a higher ROI on a single trade.
    Size does matter and managing my position size is a priority
    *Only Major Currencies
    ** Right now I am sticking with USD / CAD and USD / CHF
  • Trying to understand the currency volatility and how that can impact my trade.
    Working on the whole account funding management thingy.

I WANT to know more about this whole RoboPips info we get in the daily emails: Assuming the trades are made using a EA on Meta 4 or 5?

My goal is to find a 5 step process for how I enter and exit each trade and stick to it (OCD is not a bad thing). The only variable is what trading strategy I use base on Price Flux and market trend (Attempting to Keep it Simple).

Questions:
Can you Robo Trade on some other platform then Meta 4 or 5 (TradingView, NinjaTrader, Trade Station, etc).

Thanks for this awesome Site!

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Cannot comment on the rest i.e. don’t trade FOREX. But TradeStation only for the pros. No automated trading. Only analytics and strategy testing.

3

Welcome. Seems you have a good plan so stick to it and you`ll see what will happened.Only remember to do not risk what you cant afford to lose. Good luck.

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