Newbie looking for experienced traders to answer questions!

I’ve been researching and learning a lot about trading recently in particular trend trading, psychology & position sizes. I have a few questions I’d love to be answered:

  • Proven trading strategies - Does a website exist that shows different trading strategies with their backtested performance?

  • Taking profits - How do you approach taking profits? Keep adding them to your total capital or take a % or £ amount every month?

  • Stop losses - when paper trading I approached my stop level based upon a support/resistance level & not wanting to risk more than 1% per trade, what happened in practice was I was stopped out too often - in hindsight smaller position sizes would have been better - what else do I need to know about stop levels?

  • Trading plans - is there a place on Babypips where people share trading plans?

  • Open trades - What’s the maximum trades you should have open at one point (I’m trading in evenings/post work).

  • Maximum risk on pyramid trades - Is there a max capital you should put in on a trade if it goes your way (assuming your risk remains at your planned level)?

Many thanks,


To answer your first question there is a little known site called forex factory that has lots of people testing different strategies etc…and the rest of your questions you will be able to answer yourself when you have put in the time and effort to research and practiced on a demo account.
And not to state the obvious dont put your stops too close to the supply/ demand area .!!! Use 0.10 lots to start until you have a good low risk high probability setup strategy that has been performing well. Dont open too many trades and learn to manage you risk properly.
Good Luck.

Lots of good questions.

I dont know of a site that lists trading plans. If there is one I would hope they post thier results. Maybe I should post mine on my blog.

I place my stop just outside S/R levels. You said that you did this and got stopped out. That should not be happening. How did you determine your S/R levels?

My max risk on a trade is 10 percent of the account size which is very large by most peoples standards.

10% that’s insane!

Surely you’d need a win probability of around 75% to get your risk to ruin to any decent level?

Yes it huge. I definately do not reccomend it. It probably is the result of years ago when I started. I had to make a living by trading a way too small pile of money. Sort of go big or go home. Its been 20 plus years now and the numbers look like this. Average winner is returns three times more than the risk taken. Max drawdown over 20 plus years has been 50 percent of my account. This is also very high. Again, not something that I reccomend but it has worked for over 20 years for me.

Best Advice. Follow it and you’ll be able to answer your first question as well