Thanks One Texan, never thought of it that way. I’m winning!!! Am gonna go back onto the demo for a couple of weeks just to make sure I’m still on track. Think it benefits to stand back every few weeks and do an appraisal, after all, the market ain’t going anywhere and there will still be trades to be had.
It’s nice to hear someone sharing a positive experience about forex and even better to hear a wiser choice to going back to demo to back test strategies. Keep going.
hello, I’m new, I need all help as possible. I really want to understand this business, and trade with it. If someone can give me some links , It will be great! thanks. 
this website is the greatest link you gonna find anywhere 
Go thorugh the school and then the forums get a demo and you are all set to go
Keep making stupid mistakes. Trading S+R lines as I’ve said previously and have gone back to demo platform because of mistakes I made on live trading. Well, yesterday, again my levels were spot on, but twice I went short on break of resistance levels instead of support levels! I went from 27 bucks to the good to 17 to the bad. Think I need different coloured support and resistance lines, anyone know how to change the colour of horizontal lines on MT4? I can only get red ones. Whilst I’m at it, is there a way to delete individual lines of choice other than back-spacing, that only deletes the lines in order, last to first.
I’m sure if I can cut out this finger trouble I’ll be a successful trader. I’m determined! However, looks like I’ll be on the demo for a little while yet. I’m convinced that S+R is the way to go though because it’s uncanny how, if the S+R line is breached, it goes on to make pips, that’s providing you’ve set the line in the right place, which isn’t really difficult. I usually set fib levels too, which if they coincide with S+R lines, can make the line even stronger and can give a reversal more weight.
Hi jesimps,
To change the colour of the horizontal lines in MT4, click on the lines then right click and select horizontal line properties. You can chagne the lines to any colour you want. By the way, our trading concepts are similar, I ma alos using SR levels to trade. I recommend you to read this thread 301 Moved Permanently It helps me in understanding more about SR levels. By the way, Pattaya is a nice place, hope to visit there again when time allows.
If you are trying to short, try waiting for price to go above your support/resistance. Then place your short under (what is now) the resistance, not right on it. Then wait for it to come back down and break through. That way instead of chasing price it comes to you. And if it doesn’t come back down and instead keeps shooting up… your order won’t trigger and take your pips away. Try the opposite going long.
Just make sure to find the overall trend and trade with a bias toward that and set reasonable TP/ SL.
Thanks Ray 1 and ThePhoenix, will take your ideas on board. Also, now know how to change colour and delete horizontal lines. Had an up and down day today but was experimenting on demo between stop loss levels. Still think its best to have a stop loss at least as big as the limit, but will experiment for a few more days, see how it goes.
hey phoenix
one problem with what you say (which is very much the correct method) is that your sell stop can also be hit exactly like a stop loss, and even faster because its a piece of cake to spike into the sell stop if youre actually only a few pips away with the market price.
NOT that it happens all the time, and i DO use it often myself given the time, its a REAL factor to watch.
Of course, if youre trading with the major trend (or sticking with the timeframe of your choice) even if the price moves away from you on one of the scheduled reverses, it will come back and make one a happy trader, which you point out !
enjoy and trade well
mp
With all due respect Sir,
It’s not a Fr@cking game.
There’s a stat out there: x% of Traders fail. ([I]Everytime I see the stat quoted the specific number is different but is consistently above 80).[/I]
I’m not so sure this stat is accurate. I think that x% (again, not sure the exact number but above 80) is actually representative of the “Tourists” who were perhaps somewhat successful gamblers, exceptional at math (Trig/Calc/Discreet/etc.), or just have an intellectual curiosity about Macro economics. For whatever reason, being successful in one of the above categories doesn’t just immediately translate over to being a successful trader.
I’m sure I’m not the only one gets annoyed whenever they Trader’s journals on here that start out strong with exponential growth and then abruptly end. I guess I’m annoyed because it gives people who are serious about dedicating their lives to this art false expectations.
There’s a certain psychology that [U]must[/U] be mastered if one is to be successful. My advice? Approach this like you would a business … not a game.
I don’t mean to jump down your throat …
Just trying to sprinkle in a little realism to make your “game” more viable.
the statistic you seek is stated as either 90% or 95%, depending on whom youre reading at the moment.
that said, YOU ARE ABSOLUTELY RIGHT — the figure does NOT refer to TRADERS, but to those who ENTER forex trading and the percentage LEFT after the slaughter !
so many reasons for so many “tourists” that it boggles the mind, but youve hit a decent amount in your analysis and congrats !
I guess because its a business to those who are serious, we tend to dislike having to be jostled and shoved by the “tourists” and just wish they would go away.
so be it !
mp
[B][I]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !
As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !!
[/I][/B]