Only to excel? Not so much… Other platforms offer more formats: CSV, pdf, html, etc.
wow, that is pretty much the best newby friendly advice i have ever read on this forum. you deserve my like!
Yes, I agree with that as well. I think it is a great approach. I never use market orders. My mentor always told me to use pending orders and be patient. I may miss a few trades, but that is fine with me.
well, my statement was not referring to the pending order. i meant the placement and sl and tp mainly. but yeah, pending orders are helpful as well
Thats an interesting strategy, and it may work for some, but it doesn’t work for all concepts. Usually I place my stops at the price where their ‘trade idea’ becomes invalid. If I was to place a limit entry where the trade idea was invalid, I would essentially be ‘trading against my strategy.’
it is newbie friendly advice. not for skilled people 
I think you should stay realistic and work the numbers out. How much are you currently gaining each month? If you are not gaining yet, let’s say your goal is 10% a month like I have read on the first few pages.
Starting Balance * (1 + Gain) ^ Months
50 * 1,1^12
50 * 1,1^24
A year would give you 156,92. Two years would yield 492,49. With these gains it would take you four years to get a reasonable amount (4850,86) of cash in your balance, that is before you even start thinking about taking one cent out. I started my account with 500, working my way towards 50000 in the first year. If I don’t reach it, but do make gains, then that’s okay; there’s always next year because that’s the beauty of this game: what you make, you can always re-invest.
You really don’t have to rush things, just go easy and steady then you can make. And another thing is that you should always have a plan B, you can’t rely solely on forex dear, wise up and get on your feet.
5 months back,on January 2013 . I was introduced to forex first time by a friend. Before that i was a blogger and engineering student. But after studying and analyzing the potential of forex market. I had to choose b/w blogging and forex as my part time job, and i chose forex.
After working on demo accounts with capital of $ 1000, i decided to go live with only 50 bucks. My aim was just to get the real experience . It didn’t take much time to blow all that 50 dollars. But i learnt a lot. When you trade with this low capital using high leverage. It doesn’t give you much room for possible pip reversal in a trade. As a result, one has to put very tiny number of pips as stop loss or your whole 50 bucks will be blown off (you can do the math by yourself). So my suggestion is to atleast invest a couple of hundred bucks more (if you believe you can carry it on ) or else put to much energy in every trade by keeping lot size very tiny. and you ll have to wait for a long time to make a big amount.
No offense buddy but i think what you lack is discipline.I am demo-ing for 10 months and made great achievements but with great costs.When im in the market im like a robot,i don’t care what is going around me i only focus on the trade .I set my goals to a point and if any sign is of a reversal i cut it and run with the profit without any shame and hesitation,even when the trade goes agains me.It’s better to take a 5 pip loss and in case if the trend reverses put another trade in after or if i`m wrong, then to take a 50 pip loss because of hope… The GREED and FEAR is the biggest enemy of the trader not the bad strategy/system whatever…I’ve taught this to my friend who is doing it live for 2 years now,i also learned much from him,and he is made a 5-10% profit increase /month to now making an average of 20-30% increase now even with bad months.
You demo which means no trading, no costs, nothing. I suggest that you try to trade first and then comment. So let me get this right, you demo and taught your friend who is trading live and now you learn from him? Am I the only one who sees something wrong with this picture? From what you have written it is obvious you have never traded, but you did state that so I am not attacking you, just pointing it out.
It’s impossible, i think, or it takes really more then 1 year…may be you have to earn more on another job and then try to use Forex…
It is not impossible, but it takes more than one year as well.
You definitely need a reasonable equity to start off. $50 starting equity is practically nothing.
No you got that wrong.He trades mostly stocks for almost 3 years now.I taught him the psychological side of the trading,and emotion control ,since I have some background in all of these.I did 2 years of psychology at the university I went to and 2 year macroeconomics.So to clarify Im mostly a noob in forex trading, for now :),(i know how economy works but im not going to be fundamental analyst probably sticking with low timeframe scapling ) so I could not have been teaching him that but I taught him how to be more disciplined and now he is better than before.And because of this he also helps me to learn technical analysis since im very very bad at looking at graphs so I need a lot of help.My math also sux.So im presently learning and doing a demo and also many many back-testing and simulation to become a good trader 
[QUOTE=“Proximus;503813”]
No you got that wrong.He trades mostly stocks for almost 3 years now.I taught him the psychological side of the trading,and emotion control ,since I have some background in all of these.I did 2 years of psychology at the university I went to and 2 year macroeconomics.So to clarify Im mostly a noob in forex trading, for now :),(i know how economy works but im not going to be fundamental analyst probably sticking with low timeframe scapling ) so I could not have been teaching him that but I taught him how to be more disciplined and now he is better than before.And because of this he also helps me to learn technical analysis since im very very bad at looking at graphs so I need a lot of help.My math also sux.So im presently learning and doing a demo and also many many back-testing and simulation to become a good trader :)[/QUOTE]
I don’t know that someone who has not experienced the psychological turmoil of risking real money on a trade can really understand or offer any advice on the psychological aspects of trading…
I agree with you 100%.
@Proximus: You studied macroeconomics, but you suck at math? I am sorry, but your story does not add up (at least not to me).
Probably you’re right i did not experienced it on myself,but I know how to deal with it.That is how i can help others to relieve their stress,uncertainty and pressure when dealing with risky stuff.The worse will be when I will have to calm myself down not others ,now that will be hard but that would be a strategic move towards succesful trading
Yes and 2 yrs of pyschology.Idk why math is so important here.Price action can be determined with various tools,and for
any extra calculations like position size,etc the old windows calculator will help me :).I agree on that im not a professional trader yet but im learning quickly.Putting aside the emotional side ,then a demo acc is almost as good as a live account.
With proper self discipline any trader can become succesful.About this was my original post also,I didn’t gave the OP any technical analyst advice only to become more disciplined because that is very important.Maybe you don’t know me enough but I consider myself disciplined and have moderate patience which I think will be very helpful in the real market.Now I know that some bad trades diminish self confidence but that’s ok, but everyone has to deal with that of his own and look for the bigger picture 
You can train a goat to trade, if he can follow a plan, he will succeed.
I just have to say this…@Babypip1… Your avatar is sooo adorable. I just want to pinch that cute little checks!! Ok… I’m done…
@Proximus : You also confuses me with your storyline. I can’t seems to follow your logic. It is very unfortunate that doing Demo for 10 months or so is not the same as doing it in real account , psychological wise in trading, no matter how you want to explain it in your own words it is not the same. So yes Rambo35 and ILPM are correct…… besides why are you still in demo if you are soo knowledgeable about how psychology and macroeconomics works? You should leverage what you know now and use it to your advantage. You should try trading live even if it is a few hundred dollars or $50 dollars like the OP did and see it for yourself if your results in Demo is similar in Live account. Also, why scalping if you know how economy works too? … So, there are so many things that in your comments don’t added up.