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!