Me again, I want to know a good strategy that wont get my money fried in my first few trade’s. Just want to
be careful going into it. I understand it probably happen’s so what would you suggest as a safe starting s
strategy?
Thanks,
AdsterHello Adster, Just like you I am a babypipster with way more questions then answers so I can not even begin to tell you anything about strategies. What I can say that might be of help is to test any ideas you have with a demo trading account. If it works on a demo then that is a good sign to go by. If your ideas lose $$ on the demo then you have only lost the time you spent and not real $$. I hope this helps and good luck.
If you have not already go through the school of pipology then check out Nikitas thread 301 Moved Permanently and that should get you started at least open a demo and good luck
Lastly welcome to babypips
Use very low leverage, lowest that you can use.
I would really not worry about the leverage side of things, that will come second to your money management (risk reward ratio). Once you have your ratio sorted the leverage will adjust its self accordingly. If your risking say 3% of your bank roll per trade then the leverage will not even come into account. In a nutshell, don’t worry about leverage and margin. As long as your trade set-ups are clean and realistic all will be fine.
Agreed, can’t stress MM enough… its greater than 50% of any strat. No matter how good the strat! 1-2% of balance trades and you’ll weather the drawdowns just fine and on the upside? There’s compounding.
Even if you risk small, if you use high leverage, you’ll lose a lot or All.
I disagree here, even if you have high broker leverage say 200:1 or 400:1. And you only risk 2% of your account your going to only lose that much if your stop gets hit. Also the difference between true leverage vs broker leverage I doubt that anyone (who is even moderately competent) would use their full leverage as true leverage. Also having high leverage but using 1:1-2:1 true leverage changes the amount of margin requirements. That can be used to your advantage if structured properly. My advice take the highest leverage your broker offers, use stops on your trades where you would lose less than 2%. I didn’t demo that much before I went live but you need to be able to weather drawdowns wither your a pro or a novice just novices are going to have bigger ones and may not have the skills to recover just remember when you lose 10% you need to earn 11% when you lose 50% you need to earn 100%. To get even so MM is always an issue. Anyway find a simple system that works for you, nakitas thread that’s linked above is good. Also ICTs thread, eremarkets thread, and alternative technical templates threads are all very good.
Open up a free of charge Forex trial account to train with online forex trading market. It is advisable to train with trial account. It’s certainly achievable to become accustomed to investing fundamentals without having risking anything. Whenever your comfortable enough, you can now start real trading.
Two strategies of mine designed for the beginner.
you are right, you will lose only 2% per trade if you risk 2% but as a newb like me, we have higher chance to lose a lot of 2% with high leverage bec of tight SL. He said, he doesn’t wan’t his money to be fried in first few trades. His low leverage would last longer than that tight SL with high leverage 
I have read this type of advise before, is this the crawl before you walk method? It makes sense anyway to ease into a trading method with a sharp eye on results to get a feel on how it will work wide open.