Read, read, read and then read some more. And in between watch price move every chance you get.
And stick with it. Probably still take you a couple years to make any money at all.
You should focus more on not losing money. And the process of trading.
got any suggested reading?
Did you read my post? The one in which I asked you if you want the link to this ex brokers YT?!
Yes I read it and I would love the link sorry I got caught up with some stuff here. I didnt understand much of what you were talking about in that post though.
It’s alright…To be expected because, as I told you before, you have no real point of reference yet…But you will eventually if you manage to keep your focus on Fx! If you read my first posts on this forum you will recognize same things you’re saying right now, lol.
Anyways, this guy is my “muse” in this business…A looong time broker and wise as fck!
His videos should give you the moral(psychological boost), as well as technical boost in trading that you need right now.
Good luck.
cheers ill look into your posts. worth seeing.
Not really, just a noob talking crap mostly…Once you have certain amount of hours spent just observing the charts, it will be much easier…
Yeah, I also forgot to give you this PA thread 301 Moved Permanently People there can teach you how to pick and choose your trades more carefully.
Gl
Oh, and want to add this info… MAKE SURE ALL YOUR LIMITS ARE CLOSED WHEN CLOSING YOUR ACCOUNT FOR THE DAY,
What a dang bonehead man, stupid stupid stupid…
I guess I had a limit order open, but stashed below my visual, and low and behold, it got tagged, went plus +5 pips, then sprung long for 20 pips… But becuase i use shi*ty Oanda Java, I didnt have a trail for this instances… I hate Java sooooo freakin bad…
Just ffound this out, ummm 7 hours later, ahhhhhhhhhhh, so much for the peaceful weekend, lol…
I would try not to lose a whole lot of sleep over twenty six cents…
Actually,you can triple $50 in matter of a week…this is possible in forex.But I recommend you read about [B]wolfe wave[/B].
Ouch, that was harsh Brah!!!
But its all good, Im going to use your post tho in my Documentary film. I have about 300 or so of them from various folk here…
Hahah, ur making a docum movie too?! You’re awesome,MNS! Accept my friend request 
I dont think that it matters that the account is a penny account, what I believe MNVRS is showing is potential to make a percentage of an account regardless of capital, using the same logic with a bigger account will reap reward.
Also the numbers are actually very good so credit to MNVRS.
As for the daily target of 5%, that is a good target to have and possible, the people disputing this would be better off putting the money they have in a savings account, untill they learn the game for what it is.
I believe 5% a day is possible.
Just not EVERY day.
And just for the record, while I do believe it is possible, it is not by any means practical. The constant adjustment of lot sizing in order to keep the compounding rolling can be too much for the head. I know that the percentages stay the same, but wait until you are $100.00 in the hole, and that is just the spread when you enter a trade.
It WILL screw with your head, PERIOD.
There’s a HUGE psychological difference between $0.10 pips, and $10.00 pips. Not to mention $50+ pips. I don’t get anywhere near 5% a day increase, but my compounding is still fast enough to occasionally hassle with my head when I step up a level on lot sizes.
You can’t win at this game without a clear and happy head. Putting pressure on one’s self to maintain a certain daily average clouds clear thinking. And you know those big numbers? Ones like $10,000 or $25,000 or $100,000? Or that account double figure whatever that may be? Wait until you encounter one on a growing live account. There are tons of pitfalls that happen. It’s all about presence of mind, and a simple setup. Wash, rinse, repeat. That gets hard to do when things are suddenly larger. I tend to err on the side of caution, and stay in my comfort zone a little longer.
It decreases my average gains, but I like safety…
Yes the 5% is a daily target, that does not mean you will hit it daily that would be impossible, its only a target to work to.
When trading, the pip/cost size shouldnt matter to the trader as they should be going into the trade with their expected probability edge, along with calculated risk taken from SL giving you pip/cost.
If it does matter then your trading on emotions which has no place in trading.
LOL That textbook reply shows me you haven’t ever been there yet.
Get back to me when you do. We’ll compare notes then.
Me and MoneyNvrSleeps are gonna make a documentary together and it’s gonna be called " The Secret to Successful Scalping", but you guys can refer to it as just “The Secret”. In one chapter we will explain to you guys how you can just cut out a picture of some mansion in the Hamptons out of a magazine and then just pin it on a fridge and wish it real hard to get that 5% ROI daily on a 300.000$ capital. And, the house will be yours in no time…That very same house on the picture…It’s a little creepy, but it works!
I did the math, and you can actually reach $1,000,000 from a $5.00 deposit in 251 days at 5% per day, compounded daily. . But it is Possible…
We choose to make 5% daily in this decade and do the other things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and skills; because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one we intend to win!