Do you trade only fx
Yes some gold silver and oil trades but not many
Are you profitable if so how much % a year.
Between 15% and 60% per month with a risk limit of a maximum of 4% (I now have 4 accounts I trade with the help of my other co traders)
How many trades do you take a week
5 trades on average
How many pairs do you trade.
Around 14
How long did it take you to be profitable if you are.
5 years, 2 in which I lost money and the rest were profitable
Why would you want to help people such as me who just can’t crack it yet :}
Because I am sick of people ripping off with stupid information.
This is where I manage my accounts and I also write their market updates, but I don’t really want to talk about my job I want this thread to be about education only and free advice.
If this is a problem to anyone at baby pips I can remove the fact that I have a job, I just really enjoy trading and have had a really hard journey to get to where I am now and want others to get there too, but without all the crap that I had when I was a novice trader.
What would be the most valuable advice that you can give to someone about trading?
You mention you are now profitable, what was the game changer for you?
The most valuable advice is be persistent! not giving up if this is something you are passionate about.
The game changer for me was meeting my trading mentor, and sharing and developing strategies with him.
This is based on a number of things i.e. if I am trading a pin bar candle I will have a stop 15 pips above that candle, and that also depends on the timeframe but I have rules for all the time frames and currency pairs because of volatility, so you cannot have the same stop loss for eur/usd 4hr and eur/jyp 4hr the increments in price do not allow this.
As I mentioned at the beginning I do not use any indicators I use stochs and the 200sma but not for the original purpose. If you are asking me why I enter and exit a trade I will post my charts up on Sunday and maybe one today with an explanation
I came from a physical foreign exchange background and we used to used options allot they are very useful for a number of reasons (buying stock and fixing your asset price) in trading they can be useful in other ways, what I have done with an option in the past is weigh up the pros and cons of a particular pair and bought an option based on that decision. So lets take cable for an example at the moment if you were an American buying goods from the UK for the next year you would be crazy not to fix this price in for 12 months. That is the same way I would view it as a trader. Go long on a GBP/USD option for have the option holding for a longer term, at the end of the day its still a game just make sure your risk to reward is balanced.
Well I for one will look forward to your advice if you are what you say you are.
There seems to be a lot of people come here who aren’t what they say they are.
Any help would be gratefully excepted.We will see :}
At the moment im only looking for a sell on silver will need fuurther confirmation. I will post the chart and reasons tonight. There was a good gap this week thanks Cyprus!
