Setting up the platform!

om goodness, i spent the majority of 3 hrs today setting up and finding out what all the buttons were on the oanda screen. using babypips manual for macd etc. i did not realize i was responsible for that i thought it came all ready to go but am ok now. lol. made whooping 0.56cents. at this rate should be financially stable by uumm, say age 4005. hahaha. i have officially started to paper trade and its fun.joanne.:cool:

Hey, at least you are making “money” and not losing it. Just follow the breadcrumbs and you will be fine. :slight_smile:

Make sure you check out the Fibo lines tools (second button from the left). I love using the fibo line tools for price targets & Support/resistance levels :D. I just started using the Fibonacchi Fan. Check out how well the price respects the levels. Also use trendlines to draw lines on the daily / 3hr / 1 hr charts and they will come in handy for finding areas where the price “could” change direction. Congrats on having positive results. Anytime you can break even or take a profit is better than a loss.

edit: the below picture is of the EUR/USD 3 hour chart since Oanda doesn’t have a 4 hour chart yet :(. Does anyone else use these fibo tools, besides the standard ones that is?

Topgun

fibofan.bmp (509 KB)

om goodness, i spent the majority of 3 hrs today setting up and finding out what all the buttons were on the oanda screen. using babypips manual for macd etc. i did not realize i was responsible for that i thought it came all ready to go but am ok now. lol. made whooping 0.56cents. at this rate should be financially stable by uumm, say age 4005. hahaha. i have officially started to paper trade and its fun.joann

Well done Joanne keep up the good work.

:wishes:

hey there i am a new bie from nigeria and i want to thank you guys for doing a mavelous job here.
please can you refer me to any broker that gives a min dep of $100 and a leverage of 20:1 .
thanks
i plan to increase the deposits with time so ?anybody?
thanks 1nce again

Good morning Topgun
I am very new to this. I am extremely green. Everytime I think that I have learned a little, I find out how little I know. I am trying to follow the conversations in this forum and I discover 2 things. 1)I am not nearly ready to trade live. 2) I don’t know when I will be prepared to trade live. I can say that Babypips has given me some insight to the game but I feel that the demo trading is not getting better fast enough. I have come to the conclusion that my system has to get better or change all togeather. I would like to get some basic help. Is there any teaching tools that will start me out and"spoon feed"me until I am ready. I also have noticed that you seem to have some insight and respect from the other members. Point blank “I need help desparately” please.
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You can trade with Oanda for $1 and change your leverage to 10:1, 20:1, 30:1, 40:1 or 50:1 to one but your margin will be higher for lower leverages (see attachment). If you were to trade the EUR/USD for .10 a pip (1000 units) you would have to lay out 5% margin on $1400 which is $70. That would leave you $30 left for your stop loss.

(1000 units x 1.4137 current rate) = $1413.70 X 5% = $70.685 (margin requirement)

Good Luck! Test it out on there FREE demo before trading real $$$

Topgun

https://fxtrade.oanda.com/

leverage.bmp (190 KB)

You should check out the Cowabunga system on babypips. This will teach you good money management skills as well as the discipline needed to follow a system. There is also a thread dedicated to it for any questions you might have. It’s a great place to start [B]AFTER[/B] you go through the school :smiley:

Topgun

Pip My System - Beginner’s Guide to Forex Trading, Free Forex Education, Learn to Trade Forex, Forex Training - BabyPips.com

thanyou all again for all the wonderful and very humorus help. i cant do any of this training without your very valuable and patient help. thankyou. joanne.

Congratulations joanne, & good luck