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Forex for Dummies

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5% of account per trade. lot sized varied depending on where the stop loss is.

cut losses early (even before the 5% lots of the time) and let the winners run. look for strong trends and go with them.
 

Wondering why do you need E Signal live feed when IB has feed data ???

How much do you need to pay for this per month ???

Thanks
 

Thanks for the input. No, I have spared a little for loss in the beginning. Am having a business too but it is kinda tough in this economic climate ? I do not think I would succeed initially but hopefully in the longer terms of course. If no confidence at least, no point of trying right ???

Am trying to learn quickly that's all

Kinda tight but still can move a little so I need to learn fast and lose a few k before I can start to earn a little hopefully :d



Thanks for the kind advice. Yes, I know the harsh reality. I am coming from share trading. I just want to learn quickly the basics. Forex has this liquidity. I do not aim for too much, just a little in share, it is kinda a bottleneck atm especialy with the high commissions.

Stormin_Norman said:
theres no such thing as a free lunch.

and go to the casino and put it all on black. at this stage youll receive better odds.

Click to expand...

That's true. No, I am willing to put out a fight and learn as much through here and the various demo accounts to test my trading plan. Just need to set up things quickly for my trading system. That's all. Getting impatient !!!

white_goodman said:
based upon this attitude you wont succeed... if you dont have the drive to google and read things for urself you wont make it... no-one got successful by being spoon fed.
Click to expand...

I have, that's why I got here and other forums in the first place. I kinda have a system I like to follow but I need to get things organise quickly. I need more time to test the trading plans that is all. Plus trying to put some of trading indicators you guys have been discussing to see if it works for me or not. That's why I need to know what's generally work especially from Aussie's point of view, rather than experimenting again. Do not need to reinvent the wheels. Time is very scarce these days.

But am trying a few different demo accounts. But need to consolidate them somehow though as they are a little confusing with different platforms.

Wonder why not all brokers try to meet to available platforms out there to make it easier but of course they have their wise reasons to do so ...

Thanks for the interesting discussions so far ....
 
Stormin_Norman said:
depends who u ask about fibonacci numbers.

fibonacci isnt an indicator. its a number progression series.
Click to expand...

thanks for the correction ...

woohoo .. a bit mind blowing trying to learn the meta trader ....

any tips etc ? how do you delete stuff on the meta trader ... right click does not do it .. hmmmm
 
How do you like them apples?




Cheers,


CanOz
 

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nice one bruv. those MA look closer then mine, but the principle is very similar. i probably would have been taking longs as the stoch moved up because it looks like an uptrend there.

but whatever gains the pips!
 
Good to see you on that one Bent! Using the break of support too, nice one.

CanOz
 
Yeah...broke an ascending TL on the hourlies......any excuse to sell it!

Hopefully she is a runner like the other one
 

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Re: Forex for Dummies ... data feeds

do we need to keep the computer on to get the updated data feed at all times ??? is there like a backfill for example in MT4 ???

not sure I would like to be up all nite and might be wise to turn the puter internet off to get rid of prying eyes plus save Earth by conserving energy ... Earth needs no more heating ...
 
I do not know much about MT4 but there is an option in it were you get all the recent news updates.
 
Page said:
I do not know much about MT4 but there is an option in it were you get all the recent news updates.
Click to expand...

Hi Page

Thanks for the information.

I just look at the demo account. I just lost whopping 2400k within two days ... wowwwwwwwwwwwwwwwwwwwww

Scary scary ...
 
I realise one of the huge loss is due to japanese pair ... do people actually trade these big movers ??? they seem to drain the margin a lot and hence I got closed down due to small movement yet big in terms of margin.

Whats are your insights and experience ????

Thanks
 

What size lots are you trading? Generally i'm trading 10k to 30k lots on the major pairs. If you are trading a few 100k lots or more then you'll see some moves allright!

CanOz
 
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