New trader needing help with manual trades and calculations
Feb 18, 2010 at 09:09
1,641 Views
3 Replies
Feb 18, 2010 at 09:09
Hi All, I am a new trader with only about 4 months experience or their abouts.
Got into FX after a seminar when they tried to take $4000 out of me. This was the first I have heard of FX trading and I would like to become a expert which means it would be the ideal job for me as you can trade anywhere in the world.
My story so far, purchased FAPTURBO and this was tradig well on both my demo and live account, until I messed with the settings and it had a couple big losses. I have moved settings back to default except with a longer trading time and results have been positive and the account is slowly comming back.
I also purchase Megadriod and so far have had 100% profitable trades. so I am happy with this.
My issue is that I want to manual trades so I have done a ton of research (too much actually so I have brain overload on what to do), watch the markets & news, place my trade and then the lose my trade. Strategy needs refining.
I have two questions for the group
1) what is the caspian ea like which i found a link to on the forums from adry-fx. Price is really good. Has anyone had any luck with this as well
2) as I refine my manual trading further, i am having difficulty calculating my stop loss. I only want to risk 2% per trade which is easy to work out on my balance, but I dont know how to then translate this to a stop loss or pip loss
Any information or assistance will be muchly appreciated
Got into FX after a seminar when they tried to take $4000 out of me. This was the first I have heard of FX trading and I would like to become a expert which means it would be the ideal job for me as you can trade anywhere in the world.
My story so far, purchased FAPTURBO and this was tradig well on both my demo and live account, until I messed with the settings and it had a couple big losses. I have moved settings back to default except with a longer trading time and results have been positive and the account is slowly comming back.
I also purchase Megadriod and so far have had 100% profitable trades. so I am happy with this.
My issue is that I want to manual trades so I have done a ton of research (too much actually so I have brain overload on what to do), watch the markets & news, place my trade and then the lose my trade. Strategy needs refining.
I have two questions for the group
1) what is the caspian ea like which i found a link to on the forums from adry-fx. Price is really good. Has anyone had any luck with this as well
2) as I refine my manual trading further, i am having difficulty calculating my stop loss. I only want to risk 2% per trade which is easy to work out on my balance, but I dont know how to then translate this to a stop loss or pip loss
Any information or assistance will be muchly appreciated
Feb 18, 2010 at 09:48
(edited Feb 18, 2010 at 09:49)
ok, i'll give it a shot 😄
firstly, since you don't have any experience, do not use any robots until you understand their inner workings - this is probably the fastest and easiest way to wipe your account clean.
cannot comment on the caspian ea but can answer your second question:
what you need is a pip calculator - there's a nice one here: https://www.ibfx.com/tools/pip-calculator.aspx
calculate how much a pip worth in your trade, then you can get the number of pips ($sl/$pip = number of pips)
firstly, since you don't have any experience, do not use any robots until you understand their inner workings - this is probably the fastest and easiest way to wipe your account clean.
cannot comment on the caspian ea but can answer your second question:
what you need is a pip calculator - there's a nice one here: https://www.ibfx.com/tools/pip-calculator.aspx
calculate how much a pip worth in your trade, then you can get the number of pips ($sl/$pip = number of pips)
Sleep is for the weak.
forex_trader_6207
Member Since Jan 27, 2010
59 posts
Mar 27, 2010 at 11:40
Here is a video that I made a while back that tells you in Detail how to calculate your Lot Size, Stoploss, etc based on your Risk Appetite.Its Really the first baby step that everyone needs to understand before thinking about day trading.
Good Luck with your ambitions and I hope that your success with automation works out for you.
Apr 17, 2010 at 13:35
(edited Apr 17, 2010 at 13:36)
my question to you Casper?
what type of trading you do is it Robo? if yes which EA do you use? and howmuch per week/month profit targt you are talking about could you please give more detaills please?
thanks 😀
what type of trading you do is it Robo? if yes which EA do you use? and howmuch per week/month profit targt you are talking about could you please give more detaills please?
thanks 😀
casper79 posted:
Hi All, I am a new trader with only about 4 months experience or their abouts.
Got into FX after a seminar when they tried to take $4000 out of me. This was the first I have heard of FX trading and I would like to become a expert which means it would be the ideal job for me as you can trade anywhere in the world.
My story so far, purchased FAPTURBO and this was tradig well on both my demo and live account, until I messed with the settings and it had a couple big losses. I have moved settings back to default except with a longer trading time and results have been positive and the account is slowly comming back.
I also purchase Megadriod and so far have had 100% profitable trades. so I am happy with this.
My issue is that I want to manual trades so I have done a ton of research (too much actually so I have brain overload on what to do), watch the markets & news, place my trade and then the lose my trade. Strategy needs refining.
I have two questions for the group
1) what is the caspian ea like which i found a link to on the forums from adry-fx. Price is really good. Has anyone had any luck with this as well
2) as I refine my manual trading further, i am having difficulty calculating my stop loss. I only want to risk 2% per trade which is easy to work out on my balance, but I dont know how to then translate this to a stop loss or pip loss
Any information or assistance will be muchly appreciated
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