Hi all, just starting the journey and already have loads of questions so hopefully the babypips community can help me get answers and become a successful trader. Happy trading everyone.
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the In the right place to learn a lot of good people here that will help
Kind Regards
Langers
The Scruffy Trader
Welcome you,
Welcome!
you are in the right place if you have lots of questions, never be afraid to ask
Thanks. I subscribed to your YouTube channel and have picked up a few ideas already (always good to see someone else with a proper appreciation of coffee too!). Do you have any suggestions for strategies when I’ve only got about 2 hours to trade per day (around the London session opening)? I’m having an issue finding entries and it’ll be difficult to figure out if I can implement a strategy if I don’t open any trades. I’m restricting myself to GBP, EUR and USD pairs right now to get a feel for them before perhaps expanding to others. Any thoughts on a suitable way to approach this? Thanks
Look at the higher timeframes for swing trades if time limited , there are plenty end of day plans about and can point you in the right direction if stuck
Good luck you are at the right place. Everyone who trades forex is always learning, no matter how much experience they have.
Try with 0.01 lot sizes, then use the 60 SMA on a 1 hour chart, if at least 2 candles close above the SMA buy, if it is below the SMA sell, use 20 pips stop loss and 30 pips take profit. This should help you get started.
Even experienced people still have a lot to learn!
2 hrs a day is more than enough time. Pull up a weekly chart, plot your S/R levels and trend lines if you use them. With practice you’ll see these things easily. For entries set orders, don’t just go in, especially on a weekly chart as it could go the other way for hours before it turns in your direction. Use small positions with wide SL’s and you can hold these trades for days or weeks if you choose.
