The £10K Gamble - [The Journey]

I’ve never checked it out myself, but after having a quick look there are certain sections that caught my eye such as Three Types of Analysis, Multiple Time Frame Analysis, Support and Resistance Levels (probably more).

These I would consider universal knowledge and worth understanding.

The rest will end up binding you to a certain style, and certain way of thinking (the majority).

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I’ll be honest, I’ve been titting around a lot since this pandemic started.

But got bills to pay.

So far, so good.

image

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This is what happens when you tit about, you make a loss.

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:joy:

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Wow it’s amazing bro, currently I try to let the profits run, although I always end up with 5-10 pips.
What leads you to close a trade at 6 pips and another at 46? You close it or your stop does?

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The big pips are when I am either asleep or away from my computer.

The 5-20 pips are when I’m meant to be doing something else but keep closing trades in the green.

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What happened to all the drawdown positions Baller? Did they turn round in the end?

Some did, some haven’t yet.

Opened some new positions so DD is more or less the same.

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Still around the 9k mark? How come they don’t show up in ur running balance?

Again apologies for the daft questions, although there’s plenty more where they came from unfortunately :weary:

Because I didn’t include it in the screen snip.

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You still confident those positions will turn round over a bit of time?

I’m guessing some of those positions must be closing in on the stop loss if the max u can lose is 10%? Unless there is a lot of positions amongst the 9.5k?

Yes, won’t be closing them any time soon.

They’re not really anywhere near the SL at the moment, and there are several positions open, just a case of keeping an eye on each one and making a case by case decision.

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Caught a nice one today.

Week just got a bit better.

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I agree with The_Baller’s comments.

In addition:

Make sure you learn to calculate profits and losses in percentages and in dollars, not in pips. Pips of one currency pair are not comparable to another and you’ll find yourself unable to compare opportunities if you don’t start ingraining this stuff at the start.

Ignore most talk about trading the most liquid pairs only. This idea is pushed by brokers and any of their affiliates because the lower volatility translates as lower risk for them when they take the other side of your trades. The more volatile pairs have higher returns, but remember, this also means higher risk, so make sure to get your risk management skills together.

You’ve probably already realised from reading this thread, but you should ignore the repetitive examples with 20 pip stoplosses. This agenda is also pushed because brokers want you to get stopped out and reenter, paying more spread and/or commission.

I would read courses 1 and 2,
skip courses 3, 4, 5, 6, and 7,
read 9, 10, and 11,
then go back and look at anything else you want to from 3, 4, 5, 6, and 7.

Just thoughts, don’t trust anyone’s words, not even mine. Follow your intuition and manage your risk, stay in the game long enough to learn.

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Haha, a fellow chisit here!

Hey Baller,

Hope you’re doing well mate. Glad to see you’re still active with this thread - very grateful!

I’m still plodding away in the background with your stragtegy, and have mostly been successful as well.

Just done an exercise and reviewed every single pair I’ve traded in using your strategy. Man I need to let my winners run as I would’ve had some big ones! Definitely an eye opener.

Cheers!

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Well said brother, well said…
I couldn’t have done better.
:clap:

I can buy the latest iphone model with this kind of profit in my country…
You make trading look like a joke boss.
:joy:

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Some people loves beating round the bush. Some just skip straight to the point.

But where is the beauty of life if things were to be gained so easily?

Always learn trading with a grain of salt.

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Pls i have a little bit of question

Trading Journal is said to be a very important for every forex trader.I ab been trying to keep a journal but its not been easy.

Pls is there any site or app that I could use to journal my trades in an organized and effective way sir ?

Thank you sir :relieved::pray::pray:

I’m sure there are apps and web apps out there you could use, or you could start a thread on here.

My technical 'HyperTrend' strategy journal is a good example.

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Found this on Play Store, looks descent.

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