Hi,
Thought you would be using 5 min, I trade 3 ducks, using 1 hr for stops and open 2 positions, targeting 10 pips and 20 pips, using fractals for entry and stops, could never find a decent way to let them run.
cheers
Mark
Hi Mark.
3 Ducks is a great system, I use it as the basis for many of my trades. So easy to set up, so easy to understand, and it works!
,bumping this up some more on Eddieâs behalf,
given that Scotland has used up all its
sunshine for the summer last weekend 
The best way to get acquainted to Forex Trading is through Demo Trading, You need to be practice Demo if you want to be successful in Real Trading.
Shamelessly bumping it up 
+1 more bump 
I have taken these from my own notes, they may be taken from the Pipschool, I honestly canât remember. Anyhow, I think they are worth taking on board for new traders.
[B]Focus on the process, not the profit[/B]
Study the market, how it moves and why.
Investigate different trading techniques, testing them on demo.
Study different indicators, demo them, dump them if they donât work for you.
Learn to manage risk with appropriate size positions and stop losses. Your demo account may start you with $50k, I suggest you ignore this unless you intend opening an account with $50k of your own cash. If you are likely to only have $1k when you go live, try only demo trading with $1k. If you use the full $50k you may get into a habit of trading unrealistic lot sizes.
Demo everything new before trying it live.
Record everything in a journal.
Follow a Trading Plan.
[B]Be patient, stay disciplined[/B]
Wait for the right opportunities, they MUST meet your Trading Plan criteria. You donât HAVE to trade.
Research news and be aware of upcoming news events before trading everyday.
Study the charts to see what has happened overnight.
Review your journal daily before you start trading and after your trading day has finished.
[B]Enjoy what youâre doing[/B]
Donât take losses personally and donât get carried away by your wins. Treat every loss as an opportunity to learn.
Look for ways to improve your Trading Plan.
Namaste
I am agree with you bro. Every trader should tarde on demo before going to live. Trade with the same money which you are planning to deposit. It will very helpfull when you start your live trading. Try every broker with trading demo account before start real money. And be aware to ensure the withdrawal methods.
Every trader can enter into the trade very easily. Hard part is to exit from the trade getting reasonable profit. If everyone vmcan do that there are no lossers here.
Enter in to the trade with a proper analyze and plan your exit with current market condition. Donât be emotional and donât exit with the running candle.
Donât Trigger, Untill Clear
Have a relaxing weekend everyone!
HiâŚ
Do you guys know more about Copy Trading? i happened to hear that from one of my friends who is currently following copy trade by some broker called âe toroâ. so i thought it would be better if i ask from you guys first and get some comments and advises⌠so all i want to know is it good to do copy trade as a newbie?
I wouldnât touch it with a barge pole. Far too easy to set up numerous accounts then link the best one on eToro until it blows, then list another.
Keep your money in your pocket and learn how to trade for yourself
This - exactly.
Itâs the same as looking at the results of a clinical trial performed by a pharmaceutical company: you might be looking at the âsole outlierâ and not seeing the twenty other trials they commissioned but decided not to publish because the results showed no significant benefit resulting from their product.
Be aware that when you look at âinformationâ on sites like that, what youâre actually seeing includes a significant proportion of information which was effectively [U]selected[/U] for you to see by people selling something, and the overall appearance can be extremely misleading. (âSelection-biasâ.)
And ask yourself this: if you were really able to trade convincingly and profitably and safely and steadily with âthose resultsâ, is that [I]really[/I] the way youâd be trying to raise a few dollars from subscription-fees? Or might you have âbigger fish to fryâ?
If you had a system or algo that would consistently profit, would you give it away for hundreds, or sell it to the BIG MONEY for millions? (and they would gladly pay if it really works).
The ones that work are the algos being run by HFTâs that we see moving the markets - my job is to fit into that puzzle, observe it, understand it, and find a way to go along for the ride as I can. I sure as hell canât compete with it!
That is where finding your own understanding, groove, and method that fits your situation to trading the markets is what the âsystemâ is that you need - and you canât buy it from someone else.
My humble opinion, but nobody is going to sell you something that truly works.
Sorry if this is off-topic, but I saw this on bbc and thought it quite shocking how the airport exchanges are profiteering from travellers at a time when Sterling weakness is already hurting them
Less than one euro to the pound at many UK airports - BBC News
100% agree. Anyone can develop a system that will give decent results short-term, make s few quid, then sell it to multiple newbies as a holy grail. If it worked long-term theyâd be too busy cashing in
Easy links for this thread
[B][U]GETTING STARTED[/U][/B]
[B][U]HOW TO SURVIVE[/U][/B]
[B][U]TRADING BASICS[/U][/B]
[B][U]TIPS FOR PIPS[/U][/B]
.
.
Useful tool here to help compare volatility on various pairs
Hi Eddieb
Another Newbie here. This is really informative and I am being mentored big time.
My question is, what if I am so sure that the release will of in a particular manner and drive price in a particular direction. Hence I enter as soon as the release meets or even beats the expectation to catch the the trend (as many pips as possible to avoid getting in the market is exhausted)
Julius Wfx
Hi Julius.
If events pan out as you and I would expect, odds on most other people also expected this so it will likely have been included in the current price. The biggest moves are on unexpected news or news that far exceeds market expectations.
Thereâs a great thread here on COT analysis that you might enjoy.
Hi.
One thing noticeable in forums generally, not just here, is the tendency for established members advice to newbies to sometimes come across a bit heavy handed - Iâm guilty of it myself sometimes - and I wanted to start this post by saying that in most cases this isnât the intention.
One of the many problems with the Internet is that no one knows what prompted someone else to use the words/phrases they did, and different people reading the same post will interpret it differently. This can, and does, lead to misunderstandings and occasionally arguments breaking out. I would like to apologise for any I may have caused, inadvertently or otherwise.
So, if one if you guys posts an innocent comment and are surprised by what seems to be an aggressive or insulting response, just take a step back and see if it could be read another way, it might turn out to be a great piece of advice.
Namaste