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walpants
Mar 24 2019 at 07:46
44 posts
ParticipantLAD posted:
Hey Walpants, Good on you for asking this question as it's a foundation must of trading.

You first want to focus on your timetable, What obligations do you have currently? Job? Children? Morgage?. As this will decide how much time you can place into your chart to left click your strike rates.

Second, What is your strategy?. What are your rules?. Can you confirm that it has a frequency that will deliver consistency. This will create your income.

Third, From the first when you turn off your charts you turn off the mode of thinking about your positions. Providing you have rules and the confidence to see your positions through as trading is a job at the end of the day and must be respected as one.

Think about these first.

ParticipantLAD.


Thank you for your input, as yet I dont really have a strategy or any rules so to speak, I need to figure out what type of trader I am first I guess.

walpants
Mar 24 2019 at 07:47
44 posts
MrRenev posted:
Who are you? Background? Interests? What are your goals? Etc. Just go watch videos on youtube (UKspreadbetting & MoneyWeek are good channels), read about all this on investopedia, read the forums, ideas, etc...
There are systems spread over the internet you can look at this for fun.

I started live immediately. Demo... idk it's boring. Will teach patience I guess but it could also push you to risk alot make you confident couldn't it?
Going live doesn't mean you have to take 10 trades a week risking 1/10 of your account every trade.


Thanks, I rushed into a live account last year and blew the majority of it at which point I quit, determined to try again but don't want to make the same mistakes.

Rachel (REB_FX)
Mar 25 2019 at 06:53
35 posts
walpants posted:
MrRenev posted:
Who are you? Background? Interests? What are your goals? Etc. Just go watch videos on youtube (UKspreadbetting & MoneyWeek are good channels), read about all this on investopedia, read the forums, ideas, etc...
There are systems spread over the internet you can look at this for fun.

I started live immediately. Demo... idk it's boring. Will teach patience I guess but it could also push you to risk alot make you confident couldn't it?
Going live doesn't mean you have to take 10 trades a week risking 1/10 of your account every trade.


Thanks, I rushed into a live account last year and blew the majority of it at which point I quit, determined to try again but don't want to make the same mistakes.


Your in the right place, and asking the right kind of questions.

Slow and steady wins.

ParticipantLAD
Mar 25 2019 at 07:02
2 posts


Thank you for your input, as yet I dont really have a strategy or any rules so to speak, I need to figure out what type of trader I am first I guess.



No worries, It takes time to work out.

ParticipantLAD

FX Ekspert EU (tforexx)
Mar 29 2019 at 11:07
6 posts
walpants posted:
Ok so I'm looking for some help in creating my trading plan, what should I be thinking about when putting it together? what kind of things do I need to have in it? do I even need one at all?
Any help anyone can give would be very much appreciated as I'm feeling a little overwhelmed.


It seems you are still very new to the trading world. Maybe you should start with educating yourself first, especially if you are feeline overwhelmed. That feeling is quite common because there is a LOT to know. You will get the hang of it eventually.

What is your trading experience like? Are you trading right now, on a demo account maybe?

ScottyCarsonMVP
Apr 01 2019 at 06:03
54 posts
dylanjessop posted:
walpants posted:
Ok so I'm looking for some help in creating my trading plan, what should I be thinking about when putting it together? what kind of things do I need to have in it? do I even need one at all?
Any help anyone can give would be very much appreciated as I'm feeling a little overwhelmed.


simple support and resistance levels would be a good place to start


Yes agree here

walpants
Apr 02 2019 at 06:34
44 posts
tforexx posted:
walpants posted:
Ok so I'm looking for some help in creating my trading plan, what should I be thinking about when putting it together? what kind of things do I need to have in it? do I even need one at all?
Any help anyone can give would be very much appreciated as I'm feeling a little overwhelmed.


It seems you are still very new to the trading world. Maybe you should start with educating yourself first, especially if you are feeline overwhelmed. That feeling is quite common because there is a LOT to know. You will get the hang of it eventually.

What is your trading experience like? Are you trading right now, on a demo account maybe?


im not currently trading no, not manually anyway. i read a lot but when i try to put it into practice i doubt myself so much and just get frustrated.

walpants
Apr 02 2019 at 06:35
44 posts
ScottyCarsonMVP posted:
dylanjessop posted:
walpants posted:
Ok so I'm looking for some help in creating my trading plan, what should I be thinking about when putting it together? what kind of things do I need to have in it? do I even need one at all?
Any help anyone can give would be very much appreciated as I'm feeling a little overwhelmed.


simple support and resistance levels would be a good place to start


Yes agree here


yes i sit watching videos on this all the time and while watching it all makes sense but then when i look at a pair and start to put my areas on it just doesnt seem to work the same and i doubt that i have done it correctly.

Fxekspert eu (FMovingAverage)
Apr 02 2019 at 08:47
24 posts
walpants posted:
tforexx posted:
walpants posted:
Ok so I'm looking for some help in creating my trading plan, what should I be thinking about when putting it together? what kind of things do I need to have in it? do I even need one at all?
Any help anyone can give would be very much appreciated as I'm feeling a little overwhelmed.


It seems you are still very new to the trading world. Maybe you should start with educating yourself first, especially if you are feeling overwhelmed. That feeling is quite common because there is a LOT to know. You will get the hang of it eventually.

What is your trading experience like? Are you trading right now, on a demo account maybe?


im not currently trading no, not manually anyway. i read a lot but when i try to put it into practice i doubt myself so much and just get frustrated.


Regarding the feelings you are having, I think you just need to stick with it and try to trust yourself a little more. Yes, you will face losses most likely and it will bring you down at first.

Are you using an EA? That is a great way to trade for people who can't control their emotions. But when you one day want to switch over to manual trading, you need to get your emotions on check.

You said you want to get into creating a trading plan, a strategy for yourself. So do that, research and put it together and then go on with trading.

PPPStrategy
Apr 04 2019 at 06:04
6 posts
Make a plan like a scientist; to publish a hypothesis, one must prove it is not true.

Find an entry that you beat those X number of reasons for you not buy.

You get the idea.

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