pipbull, you’re a wise guy - you put the point across very well. Totally agree with your point.
Look at the result of the BoJ rate rise, most thought the yen would recover if they raised the rate, they did indeed, but just take a look at where the price went.
Didnt make any sence until they released the reasons and gave signal they would like to keep the currency weak.
news trading is a lot harder then technical trading, you cant trade the news on its own, you need to have a very food understanding of the fundamentals along with the bigger picture.
hey i would like to share an interesting thing happend to me… i used to trade 5$ system in marketiva website. due to my misunderstanding in leverage i invested only 0.01$ in trade. i got fed up. in this rate i would have reached 6$ only after 10000 pips was raised… soo beginers dont ever hesitate to know the concept of leverage clearly.
Making over 1000 pips a month overall is great! But it would be even better to show others how you achieved such success. Perhaps showing couple of your winners and explaining your trading methods.
Numbers are just some digits to me. The know-how is actually the essence of trading is it not?
To get from Point A to Point B, I believe it’s the journey that’s important.
Don’t get me wrong, I would love to make over 1000 pips per month.
I am teaching my kids how to trade the forex market. Using the simplest trade style I know, I will teach them based on pips. We have opened an FxSol demo account. Leverage is 400:1 and each lot only controls $1,000. I had my 14 yr old son call FxSol tech support and raise the account balance to $20,000. After they have grasped the concept, I will teach them to trade the same style on an account with a lower balance. The idea is to stay away from Margin Call. When we are all finished I will open a $300 Live account for each of them. As you know my son is 14 yrs, and my daughter is 17. Today we place our first trades based on an ATR of 14, an ATR of 1, a 64 moving average exponential, and a RSI of 14.
I always get nervous (for them) when I hear traders talk about wanting to avoid a margin call. Why would you make that your focus? Getting a margin call implies losing a massive chunk of your account value, which suggests to me trading way too big. Wouldn’t it be better to focus on something like not taking a loss larger than x%?
Let’s not forget that we are all here to learn from others and if Babypips was not for [B]FREE[/B], how many people would be here. I for one am grateful for this site and all that I am learning from it as well as all of the people who share their ideas.
Interesting perception! I have met many who have margin called. On the demo they traded with a large account balance. Then when the went live they started with $300. Yes. You guessed it, margin call.
Please state your wisdom more often. Many need to hear it.
I did not mean anything against Babypips.com. I spent many years and a great deal of money learning to trade. Every time someone new realizes what I can do they ask me to show them. The largest number of people told me that I am crazy and that will not work. Many I have given my trade style for free didn’t like it for what ever reason. A few that have learned I charged money for my services. I then realized they saw it as valuable because they had to pay money to learn. I have paid with time and money. I see this as someone buying a car (you know like financial vehicle) and then I ask them if I can have it for free.
The little people that are learning to trade forex from me pulled 721 pips out of the market today. The are learning on a demo but if it was live they would be $72.10 better off. Being younger that 18 they both thought that would be a good deal.
+1509 for the month of February. It has been a very nice month. The first month I was able to stick to my system and rules. It worked out well. Don’t know if I can post a link (nothing for sale) to my blog, it is a daily journal of my trades. Forex for profit. Happy trading!
Big Pippin has a blog link that is a Sticky in the Forextown forum for everyone to list their blogs. I think you just have to email him the link. (See Below)
In my experience, trading the news is like tossing a coin. Impossible to predict. It’s safer to trade the after-effects of the news, i.e. the market conditions following a major news release.
I will trade the news if there’s some spare cash in my account by ‘guessing’ which way the price will rocket and putting in a 20 pip GUARANTEED stop-loss. After all, the odds are 50-50 on a big profit!
The kids have managed their demo account. This takes about 30 min. It is hard for teens to stay focused. Their result was 3381 pips. That would have been $338.10 with a live account.
hey im pipgods son! thats why my username is thepipkid. the tradestyle im learning from my dad is totally awsome! my sister likes it too. today me and my sister closed with 2570 pips in the good. IM LOVIN IT!
Eh pipgod hope all is well! I was wondering if you could tell me how you get so many pips per day? By no means am I asking for your system, but I am blown away by how many you get per day(1000!!! still trying to catch my breath!). Do you just have small leverage and trade multiple lots? Do you trade many pairs per day? Am I even on the green for this one? Again if you can tell me it would be much appreciated, if not it’s cool don’t worry too much about it, I know I must utilize my way of trading to be the best trader I can, I was just curious. Anyways thanks for the time!
