I am from Lagos Nigeria and a newbie. Been on live account 3 month now and I know trading is for me. In these 3 months, I am particularly proud of my risk management. I have never risked more than 0.5percent of my capital in a single trade. My major challenge is I never have the balls to hold on till my take profit is reached. So I am challenging myself to grow balls to wait till my TP is reached. I hope posting here will make me accountable and focused on my next goal.
How big are your trades?
How bad is your a$$?
Welcome to the BPs! XT!
This is the place to learn and grow for sure!
FR&L
Good luck XT! Let us know your trades and we’ll certainly keep you accountable, haha.
0.2 to 1 lot size. Leverage 20
How many pips do you aim for in your trades?
30 to 70 pips usually.
Understand the concept of range, between one zone to another there is a range and your job is not to catch the entire move, trying to take trades at perfect highs and lows can mess you up. just trust your analysis and if you think you’ve got a fair reason to get out of a trade do it.
Here’s some information that may help you.Let There Be Range - Ted.pdf (831.7 KB)
Welcome to babypips, @XT! You can also start a trading journal at the journals section so that others may help you out. Did you trade on demo before switching to live? If so, how many months did you demo trade?
Thanks CoinLady. Traded demo for a month or so. It was boring sort of and I could not be committed since the money is not real.
I see. I’m demo trading right now and trying the 3 ducks system. Now I’m thinking of trying real money hehe. But I’m also sure I won’t have the guts for now.