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Tips and tricks!

snapdragon1970 (snapdragon1970)
Sep 22 2015 at 21:16
1944 posts
Hi everyone!

some tips for new traders,I hope it helps to improve your trading and to be more professional.

this stuff is free online you just have to know what is right!

2:1 or 3:1 risk reward
Max 2% of your total capital on one trade
wait for spike downs or spike ups
watch out for support and resistance levels,these are targeted by the big boys!easy pickings.
don't trade before data releases
technical trading is only a guide,not set in stone.
remember that the market learns quickly of any mispricing

be lucky!
    

"They mistook leverage with genius".
arigoldman (arigoldman)
Sep 23 2015 at 20:35
907 posts
kozawhtike
Sep 27 2015 at 05:56
1 posts
togr (togr)
Sep 29 2015 at 16:11
4862 posts
snapdragon1970 posted:
Hi everyone!

some tips for new traders,I hope it helps to improve your trading and to be more professional.

this stuff is free online you just have to know what is right!

2:1 or 3:1 risk reward
Max 2% of your total capital on one trade
wait for spike downs or spike ups
watch out for support and resistance levels,these are targeted by the big boys!easy pickings.
don't trade before data releases
technical trading is only a guide,not set in stone.
remember that the market learns quickly of any mispricing

be lucky!
    


Well I do not say these rules are bad.
But almost eveyrone is following these rules and..
loose their money.

snapdragon1970 (snapdragon1970)
Sep 30 2015 at 06:01
1944 posts
You'd be surprised by how many people don't use these basic rules,even where to place a stop loss,another problem is that new traders over trade and don't wait for a trade to come to them,doubling up on a lossing trade,trading to many positions at once and not sticking to a narrow field that they can become expert in,believing that a pattern on a chart is fact TA is not a science,it's mostly laughed at by the professional trading community.This is what new traders are taught to believe so that brokers and wall street can have a steady income.But people are starting to ask more questions now as to why their account isn't moving in the right direction.
I recently contacted a trading company and asked them to add certain risk tools to help traders and I normally get a quick response from them but not this time.They are in the business of making money not lossing it.

"They mistook leverage with genius".
togr (togr)
Sep 30 2015 at 08:19
4862 posts
snapdragon1970 posted:
You'd be surprised by how many people don't use these basic rules,even where to place a stop loss,another problem is that new traders over trade and don't wait for a trade to come to them,doubling up on a lossing trade,trading to many positions at once and not sticking to a narrow field that they can become expert in,believing that a pattern on a chart is fact TA is not a science,it's mostly laughed at by the professional trading community.This is what new traders are taught to believe so that brokers and wall street can have a steady income.But people are starting to ask more questions now as to why their account isn't moving in the right direction.
I recently contacted a trading company and asked them to add certain risk tools to help traders and I normally get a quick response from them but not this time.They are in the business of making money not lossing it.


My point is that following these rules thus mean nothing. There are many ways to succeed.
I don't follow these rules and I am in 5% of successful traders.

frank
RedRhino
Oct 08 2015 at 06:30
471 posts
professional advice


Rihan
RSTrading
Oct 09 2015 at 09:24
385 posts
Make sure your lot size is right when entering a trade..I have had some nasty (actually they turned out to be good, but could have been nasty) trades - and they were pending orders that triggered during my sleep.

togr (togr)
Oct 09 2015 at 09:29
4862 posts
RSTrading posted:
Make sure your lot size is right when entering a trade..I have had some nasty (actually they turned out to be good, but could have been nasty) trades - and they were pending orders that triggered during my sleep.

@RSTrading
Rihan and what lot size is the right one? :)

Rihan
RSTrading
Oct 09 2015 at 09:38
385 posts
@togr
That is a very debatable subject, but can be determined by your account size (not going to go in it - traders can google it).

What I meant was, make sure you are trading 0.1 lots if that is what you wanted not 1.0 by accident. It happened to me a couple of times. The terminal is set to use 'default' lots (own input) if terminal is reset, or for some unbeknownst reason it loses this setting and uses 'last used' .Maybe you entered a trade that you were very confident about and used a bigger lot size.

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