Thanks Tonyro44 It make me feel better to here from you I am doing fine… I just need to be more consistent and it seems that I am not loosing money anymore, that’s the most important. Maybe I have 10% profit in 2 months or in 3 but it will be a profit!
Hi TC,
I think you are using demo for micro account that is why you get less instruments, normally you will get 40 intruments on standard account, but I think FXCM don’t have standard demo account. I don’t know about fxcm MT4, I never used it.
Trading station is very good platform and also easy to understand, you will be fine after few weeks.
If you want good setup then try to trade on weekly TF in terms of bias , you will get less trades but good trades.
Now I am thinking to join a trading firm to utilise my true potential and experience the market from the professional point of view.
I have put great amount of time and effort to reach certain amount of achievement.
I believe that my true desire to reach higher achievement and strong interest for trading it will be better to work with professional to feel the market more closely and grow unlimited.
Hi Sharebazar,
I think you are already a professional trader as you are trading independently and make a living of it. I am sure you will be successful as a trader working for a professional company. I am only surprised that you want to go in that direction but I don’t know what you are looking for exactly. It is always good to explore your possibility’s and develop your skills and experience. You became a good trader by working hard for it and you did it yourself, with that capacity you can do anything you want and become successful with it.
The last weeks I have only 2 trades a week but they where not so good. I takes also longer to recover from it I have to pay more attention to my SL and have more patience. Do you use pending orders? You mentioned something by missing a trade by 2 pips. Disadvantage is having no signal
What are you watching for this week?
Hi TC,
I am monitoring few pairs this week, but may be I will get entry price around Thursday. Looking to go short on EUR/GBP, GBP/AUD and silver, looking to go long on Bund.
I am already holding short position on NZD / JPY from last week. May be I will scale in one more position if I get the opportunity.
Only reason I want to join a firm because of the business model, and I want to experience their way of thinking about the market when they place a big order or deal with big order and get the knowledge about it. As a retail traders we don’t have the most of the tools what professional firm use for their regular business.
I am growing slowly day by day and also my account is growing, hopefully time will come when I need to be more decipline and need be more cautious about the risk when I will deal with the big amount.
Phychologically I am fine with my trading style and risk tolerance. Hope I will have no problem with the big amount.
I used pending orders few times but most of the time it didn’t fill either because of the spread or price just missed with 2-5 pips. I don’t want to use it now.
If you don’t get signal don’t open positions.
This Thursday the US New York market will be closed so volume will be less . just sayin
Thanks Tonyro44
I am also looking for EURGBP and GBPAUD Never looked at bonds and sometimes looking at silver and gold Silver looks at a bottom right now I looked for NZD JPY but couldnt find good place for SL To small account
On babypips are some people who are trading big accounts or working for professional institutions. Maybe they can give you some information.
I think also about how it will be for me trading live with bigger lots. And how big lots you can trade without having impact on prices. I think I was to long on Demo and that I need the experience of live trading.
Nial Fuller says that his trading Capital is $50000.- and he withdraw all profits monthly above this amount. He shows also a live trade with about 8 lot and a big profit. I am sure that is more then 1% or 2% risk but it just shows how he trade.
What Tools do you think professionals traders have more? I think it is more about the information they have. In Tharps book about trading he interviewed traders with big client accounts. This shines some light about how they trade and how they think
What Tools do you think professionals traders have more? I think it is more about the information they have.
Professional traders have knowledge,information and best risk management system in place.
I really want to transfer Clint knowledge into my brain, when ever Clint write something I feel I don’t know anything about trading I need to learn more. Little bit off topic.
NZD/JPY is getting ready for short in my opinion, but I don’t know what market will do but I am still holding short position.
Thanks Tonyro44 .
Hi everyone, hope you guys are doing well.
What you guys think about NZD/USD pair, I am looking to go short.
Let’s see what market want to do.
sharebazar, i like NZD/USD as a short for sure. I think is good for at list 50 pips.
Hi everyone hope you guys are doing great on your trading.
Last week was very difficult for me, lost 300 pips out of NZD/JPY and EUR/USD trade, both trade I was on profit about 100 pips each but left it for more pips and price just turn against me and hit my SL and closed with big loss.
But thanks to USD/CAD trade I have recovered 300 pips in just one trade.
So far good week for me. 157 pips from US30 and 97 pips from AUD/USD.
US30
AUD/USD
Hey Sharebazar…
So, I guess… Nikita is not coming back… has been a whole year
Annyway… what got you selling AU this week… last week was a Bull candle and HH and HL has been forming…
Thanks
Hi Aman, nice to hear from you. Hope you are doing well.
I don’t know why Nikita don’t come here anymore, may be she is busy with something better. Hope she gets back asap.
I went short on last Friday because I was looking at previous week candle for short bias.
Look at the Arrow mark on the chart price broke down 1st Arrow and pull back again 2nd Arrow and then price continue downwards. So support broke then price retest the resistance (support become resistance now). I was expecting that price will come to resistance again and then I will go short, my prediction was correct and I took the short position in the view that I can make at least 50-80 pips.
Daily TF
It is true that HH and HL is forming. We need to be carefully if we want to short this pair next week, long time bias is short.
Sharebazar, Thank you for the explanation.
So I see on the weekly chart there was a tiny red bearish candle. If the price goes above the bearish candle during the next week we are still looking for a SELL ? Shouldn’t we be concerned that bulls maybe in control If the price has broken the High of the Bearish candle from the previous week ?
Thanks
Hi Aman,
AUD/USD Weekly TF
Last week candle closed bearish see the picture, which red tiny weekly candle your talking about.
This is a Weekly chart of Australian dollar Futures.(not the Forex chart) Just slightly different due to different data feeds. Daily and lower TF charts are the same as Forex.
I am talking about the candle marked with the arrow. The number 1 candle.
That candle is bearish.
I believe you took the trade on candle number 2.
You took a Short in that week(candle marked 2) because the candle number 1 marked with arrow was bearish…
Right ?
Hi Aman,
Correct, I took the short position on candle number 2.
We need to keep in mind that when we see the price move above the previous week high then either price is trying to reach the resistance or trying to hunt the stop or price may spike for any news event.
If price broke the higher time frame resistance and move above the previous week high then we can think about to change our bias. In this case price move above the previous week high but did not broke the resistance, so I took the trade.
Another thing if we want to trade on daily bias then our bias can be different then weekly bias and also our entry direction will be different. Hope you understand my explanation.
Sharebazar… Thank you very much for the explanation.