What Every New or Aspiring FX Trader Wants To Know

If you see the numbers get filled move to the sidelines and turn charts off… the battery life on the volitality typically runs low and you think the entire day will provide 50 pip swings you can surf into the sunset… avoid this. It will likely bite you in the hinder parts…

It gets better… stay tuned.

Very nice to see trades posted in here. I still get encouraged when I read others success. Please continue in the future.

Used did a great job of recapping the trade last night into today… so I will refer you all to his excellent post, well done again, friend.

I trust you see with only a few of the basic concepts you can find some real tigers by the tail and Forex trading can be successful.

I will post material this evening… until then, Good luck and Good trading! :cool:

Use public transportation.

You don’t need any more motorcycle incidents;)

I can do that. After you upload your picture, there will be a link to it in the manage attachment section. Right click on the link and select properties. Then highlight the URL and copy it (Ctrl C)


Then exit back to your post and click on the yellow icon with the mountains on it which is “Insert Image”. It will bring up an entry box where you paste the URL you just copied (Ctrl V)


It will insert the url into your post with the forum’s tags around it when you click Ok.

Hope that helps :slight_smile:

How to post pictures. That’s a new way for me Sweet Pip. Learn something new everyday.

ICT, another method that I use is to get a free account with photobucket. When you upload a picture there it will give you several links that you can copy and paste into your post. Sorry that’s not real detailed but I’m at work and just taking a quick look around.

The only benefit of hosting pics somewhere else is if your pic is larger than BP allows. Other than that, doing it this way accomplishes exactly the same…inserting the url into your post… but you don’t have to be on 2 different websites to do it :wink:

Hi ICT, how are you today? Feeling any better?

Did you catch a trade in there and have finished for today, or are you still waiting for another opportunity?

Hi All,

Only found this thread over the weekend. Got to say thanks to ICT for this and for the way that things are written and explained, it really is a great thread.

Quick question, what time frame are most of you using for your entry? I work 9 -5 so can’t keep an eye on the charts all day so i am thinking of using this on something like the 30m or even the 1hr. Any thoughts / suggestions?

I have 10% of my position still on and looking to see if we can run under the days low put in, resting buy stop on last portion at 1.5080.

Covered 60% at 1.5120
Covered 30% at 1.5025
resting limit order to cover last 10% at 1.4999

Sold Short @ 1.5202

Thanks :slight_smile: Sorry bout the late reply…I went back to bed after that :smiley:

Yes I did. I had a pending order set at 1.5020, which was just below the low of 1.5024 on my chart. It was both a roundish number and the difference between my spread (4pips) and the low. Actually those are the BID prices, and it was trying to fill on ASK at 1.5016. On screen it looked like it definately should have triggered. However, it got down to 1.5021 Bid (1.5017 ask) …1 pip away, and then started going back up. :cool:

Not wanting to miss it I entered a market order instead at 1.5024, but it filled at 1.5028 and I set a 30 pip stop which was just below the next S pivot. Not the most optimal entry price, but it did go up and touch 1.5054 which is what my tp was set to and actually resulted in 26 pips, not 30 due to the spread.

Sweetpip, could you please tell me what you mean by upload your picture? upload your picture to where?

Upload to Babypips. When typing your post, there is paperclip icon above. Click on that and it opens the “Manage Attachment” feature which is my first pic. Also in that pic, you can see in the background where it says “Upload file from your Computer”, a browse button (which is hidden behind the properties box), and waaaay over to the right of it is an Upload button. It also allows you to “Upload File From a URL.” Once it is uploaded, the “Current Attachments” will display the filename as a hyperlink where I have circled. If left just like this, it will display your picture as a thumbnail.


:slight_smile:

That was new (and clever) for me too.

I’ve always used Photobucket to get a hyperlink. Never thought of this!

Very good… were you using the entry based on anything?

I enter off of a 5 minute chart - monitor it on a 15 min chart - find setups on 1 hour and 4 hour charts with longer term trend analysis and S&R levels in mind.

I set my orders last night and went to sleep… I got up and adjusted my stops and limits and went back to bed. So it possible to work a day job and find a few pips. :rolleyes:

Glad to see you enjoy the content.

awesome thank you :slight_smile:

ok, do you mean like:

Supporting factors that might find confluence at this same price level are:

daily highs and lows - Yes, it was yesterday’s daily low
Pivot level
monthly, weekly or daily s&r level
price patterns
candlestick formations
indicator divergence - Yes, I had a bullish divergence with my CCI indicator
fibonnaci levels and extensions - forgot to check…:o
time of day (session openings-Asain, London, New York)
etc… - price had covered the average daily range

Also, it fit with your description for buys…:

“[I]I like short term oversold conditions and price in the S1 and or S2 levels under the the Central Pivot. I like buying Previous days low or a false break under this level given the conditions warrant a bounce[/I].”

?

nicely done… :cool:

I have a question.

In the case of today’s long trade, is it still reasonable to expect price to go through four pivot levels?

Thanks for the awesome material. :slight_smile: