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Hello everyone
Členem od Feb 07, 2019
44 příspěvků
Feb 21, 2019 at 13:02
AlHashim posted:togr posted:walpants posted:
hello and welcome, im new to, im doing a lot of reading on here, there is some very good advice on here.
I would not say you get proper education here on MFB
The forums are very good for tips and specific questions but there is better educational material in other places
of coarse, i am finding material from all over to add to my education.
Členem od Feb 13, 2019
10 příspěvků
Feb 24, 2019 at 07:24
have you tried babypips? they have a lot of great info for total beginner
Členem od Mar 02, 2017
46 příspěvků
Feb 24, 2019 at 13:19
After 4 years studying Forex I learned something called Positive Expectancy.
For example, in roulete game, your positive expectancy is:
Winning% - 1/38
Losing % - 37/38
Reward - 36
Loss - 1
Positive Expectancy = Winning% x Reward - Losing% x Loss
PE = 1/38 × 36 - 37/38 ×1
PE = 36/38 - 37/38
PE = -1/38 = - 2.63%
In short, no matter what you do, the house (Casino) has an edge. You only have luck to win the house...
But Casino has an insurance against lucky players: a max bet value.
But in Financial Markets, you need to do like Casino: a positive expectancy strategy with small bets in the long run.
Let's say your strategy has a winning ratio of 40%, a reward of 2, and you trade 20 positions a month, risking 0.5% per trade...
20 × 40% = 8 winning trades = 8 x 2 x 0.5% = 8% reward
20 x 60% = 12 losing trades = 12 x 1 x 0.5% = 6% loss
Monthly profit = 2%.
A 2% strategy means 27% a year... not bad, because 70% of retail traders fails! Why?
They don't have a strategy, they don't have money management. They only trust in luck.
If you want to win in market, you need:
1) a strategy where you know your risk (loss)
2) a strategy where you know your reward (profit)
3) a strategy where you know your winning ratio.
These 3 questions are not answered by 99% of Expert Advisors. Because Martingale/Grid/Averaging strategies (very common in these EAs) doesn't have a known risk. If a trade goes wrong, these EAs increase the risk in a new trade, to cover the previous loss and make some profit.
3 months of backtesting in a strategy that answer these 3 questions is enough. 1/3 months in foward test in a demo account is enough. Start small in real account, and be happy!
For example, in roulete game, your positive expectancy is:
Winning% - 1/38
Losing % - 37/38
Reward - 36
Loss - 1
Positive Expectancy = Winning% x Reward - Losing% x Loss
PE = 1/38 × 36 - 37/38 ×1
PE = 36/38 - 37/38
PE = -1/38 = - 2.63%
In short, no matter what you do, the house (Casino) has an edge. You only have luck to win the house...
But Casino has an insurance against lucky players: a max bet value.
But in Financial Markets, you need to do like Casino: a positive expectancy strategy with small bets in the long run.
Let's say your strategy has a winning ratio of 40%, a reward of 2, and you trade 20 positions a month, risking 0.5% per trade...
20 × 40% = 8 winning trades = 8 x 2 x 0.5% = 8% reward
20 x 60% = 12 losing trades = 12 x 1 x 0.5% = 6% loss
Monthly profit = 2%.
A 2% strategy means 27% a year... not bad, because 70% of retail traders fails! Why?
They don't have a strategy, they don't have money management. They only trust in luck.
If you want to win in market, you need:
1) a strategy where you know your risk (loss)
2) a strategy where you know your reward (profit)
3) a strategy where you know your winning ratio.
These 3 questions are not answered by 99% of Expert Advisors. Because Martingale/Grid/Averaging strategies (very common in these EAs) doesn't have a known risk. If a trade goes wrong, these EAs increase the risk in a new trade, to cover the previous loss and make some profit.
3 months of backtesting in a strategy that answer these 3 questions is enough. 1/3 months in foward test in a demo account is enough. Start small in real account, and be happy!
Trade safely... Remember, a high Drawdown means a high risk!
Členem od Feb 08, 2019
200 příspěvků
Feb 24, 2019 at 13:50
BipinBike posted:
have you tried babypips? they have a lot of great info for total beginner
I agree
Členem od Feb 25, 2019
10 příspěvků
Feb 25, 2019 at 13:49
Arcferreira posted:
After 4 years studying Forex I learned something called Positive Expectancy.
For example, in roulete game, your positive expectancy is:
Winning% - 1/38
Losing % - 37/38
Reward - 36
Loss - 1
Positive Expectancy = Winning% x Reward - Losing% x Loss
PE = 1/38 × 36 - 37/38 ×1
PE = 36/38 - 37/38
PE = -1/38 = - 2.63%
In short, no matter what you do, the house (Casino) has an edge. You only have luck to win the house...
But Casino has an insurance against lucky players: a max bet value.
But in Financial Markets, you need to do like Casino: a positive expectancy strategy with small bets in the long run.
Let's say your strategy has a winning ratio of 40%, a reward of 2, and you trade 20 positions a month, risking 0.5% per trade...
20 × 40% = 8 winning trades = 8 x 2 x 0.5% = 8% reward
20 x 60% = 12 losing trades = 12 x 1 x 0.5% = 6% loss
Monthly profit = 2%.
A 2% strategy means 27% a year... not bad, because 70% of retail traders fails! Why?
They don't have a strategy, they don't have money management. They only trust in luck.
If you want to win in market, you need:
1) a strategy where you know your risk (loss)
2) a strategy where you know your reward (profit)
3) a strategy where you know your winning ratio.
These 3 questions are not answered by 99% of Expert Advisors. Because Martingale/Grid/Averaging strategies (very common in these EAs) doesn't have a known risk. If a trade goes wrong, these EAs increase the risk in a new trade, to cover the previous loss and make some profit.
3 months of backtesting in a strategy that answer these 3 questions is enough. 1/3 months in foward test in a demo account is enough. Start small in real account, and be happy!
You make a very interesting point but the hard part for me has been finding a strategy that yields just 2%. Most strategy I try end up losing a lot not matter what I do
Členem od Feb 10, 2019
52 příspěvků
Mar 05, 2019 at 07:25
I agree, Babypips is really helpful!
Členem od Feb 11, 2019
27 příspěvků
Mar 10, 2019 at 06:47
hi and welcome! I have to say I love babypips, very good resource
Členem od Feb 07, 2019
44 příspěvků
Mar 12, 2019 at 09:30
babypips and youtube have some great stuff.
Členem od Feb 08, 2019
23 příspěvků
Mar 15, 2019 at 08:11
WELCOME BUDDY
Členem od Mar 20, 2019
10 příspěvků
Mar 24, 2019 at 07:07
i agree with most here, babypips is the best place to learn
Členem od Feb 08, 2019
200 příspěvků
Mar 25, 2019 at 06:55
AharonGorion posted:Arcferreira posted:
After 4 years studying Forex I learned something called Positive Expectancy.
For example, in roulete game, your positive expectancy is:
Winning% - 1/38
Losing % - 37/38
Reward - 36
Loss - 1
Positive Expectancy = Winning% x Reward - Losing% x Loss
PE = 1/38 × 36 - 37/38 ×1
PE = 36/38 - 37/38
PE = -1/38 = - 2.63%
In short, no matter what you do, the house (Casino) has an edge. You only have luck to win the house...
But Casino has an insurance against lucky players: a max bet value.
But in Financial Markets, you need to do like Casino: a positive expectancy strategy with small bets in the long run.
Let's say your strategy has a winning ratio of 40%, a reward of 2, and you trade 20 positions a month, risking 0.5% per trade...
20 × 40% = 8 winning trades = 8 x 2 x 0.5% = 8% reward
20 x 60% = 12 losing trades = 12 x 1 x 0.5% = 6% loss
Monthly profit = 2%.
A 2% strategy means 27% a year... not bad, because 70% of retail traders fails! Why?
They don't have a strategy, they don't have money management. They only trust in luck.
If you want to win in market, you need:
1) a strategy where you know your risk (loss)
2) a strategy where you know your reward (profit)
3) a strategy where you know your winning ratio.
These 3 questions are not answered by 99% of Expert Advisors. Because Martingale/Grid/Averaging strategies (very common in these EAs) doesn't have a known risk. If a trade goes wrong, these EAs increase the risk in a new trade, to cover the previous loss and make some profit.
3 months of backtesting in a strategy that answer these 3 questions is enough. 1/3 months in foward test in a demo account is enough. Start small in real account, and be happy!
You make a very interesting point but the hard part for me has been finding a strategy that yields just 2%. Most strategy I try end up losing a lot not matter what I do
Doesn't have to be 2%. You can set yourself free with 0.5% edge or even lower
Členem od Jul 12, 2018
23 příspěvků
Apr 01, 2019 at 08:15
Mikelsius posted:
I have been training for some time and now I am in the test phase in demo accounts :)
I'm from Barcelona, regards!
Hi! And how is your trading going now? I'm sure you have found yourself a profitable strategy?
Členem od Feb 22, 2011
4573 příspěvků
Apr 01, 2019 at 10:29
Treeny posted:AharonGorion posted:Arcferreira posted:
After 4 years studying Forex I learned something called Positive Expectancy.
For example, in roulete game, your positive expectancy is:
Winning% - 1/38
Losing % - 37/38
Reward - 36
Loss - 1
Positive Expectancy = Winning% x Reward - Losing% x Loss
PE = 1/38 × 36 - 37/38 ×1
PE = 36/38 - 37/38
PE = -1/38 = - 2.63%
In short, no matter what you do, the house (Casino) has an edge. You only have luck to win the house...
But Casino has an insurance against lucky players: a max bet value.
But in Financial Markets, you need to do like Casino: a positive expectancy strategy with small bets in the long run.
Let's say your strategy has a winning ratio of 40%, a reward of 2, and you trade 20 positions a month, risking 0.5% per trade...
20 × 40% = 8 winning trades = 8 x 2 x 0.5% = 8% reward
20 x 60% = 12 losing trades = 12 x 1 x 0.5% = 6% loss
Monthly profit = 2%.
A 2% strategy means 27% a year... not bad, because 70% of retail traders fails! Why?
They don't have a strategy, they don't have money management. They only trust in luck.
If you want to win in market, you need:
1) a strategy where you know your risk (loss)
2) a strategy where you know your reward (profit)
3) a strategy where you know your winning ratio.
These 3 questions are not answered by 99% of Expert Advisors. Because Martingale/Grid/Averaging strategies (very common in these EAs) doesn't have a known risk. If a trade goes wrong, these EAs increase the risk in a new trade, to cover the previous loss and make some profit.
3 months of backtesting in a strategy that answer these 3 questions is enough. 1/3 months in foward test in a demo account is enough. Start small in real account, and be happy!
You make a very interesting point but the hard part for me has been finding a strategy that yields just 2%. Most strategy I try end up losing a lot not matter what I do
Doesn't have to be 2%. You can set yourself free with 0.5% edge or even lower
It is nice to calculate expectancy when you know you have 8 winning trades and 12 losing trades.
But you never know how many trades will be winning and how many loosing.
Členem od Oct 31, 2018
10 příspěvků
Apr 01, 2019 at 12:41
Treeny posted:AharonGorion posted:Arcferreira posted:
After 4 years studying Forex I learned something called Positive Expectancy.
For example, in roulete game, your positive expectancy is:
Winning% - 1/38
Losing % - 37/38
Reward - 36
Loss - 1
Positive Expectancy = Winning% x Reward - Losing% x Loss
PE = 1/38 × 36 - 37/38 ×1
PE = 36/38 - 37/38
PE = -1/38 = - 2.63%
In short, no matter what you do, the house (Casino) has an edge. You only have luck to win the house...
But Casino has an insurance against lucky players: a max bet value.
But in Financial Markets, you need to do like Casino: a positive expectancy strategy with small bets in the long run.
Let's say your strategy has a winning ratio of 40%, a reward of 2, and you trade 20 positions a month, risking 0.5% per trade...
20 × 40% = 8 winning trades = 8 x 2 x 0.5% = 8% reward
20 x 60% = 12 losing trades = 12 x 1 x 0.5% = 6% loss
Monthly profit = 2%.
A 2% strategy means 27% a year... not bad, because 70% of retail traders fails! Why?
They don't have a strategy, they don't have money management. They only trust in luck.
If you want to win in market, you need:
1) a strategy where you know your risk (loss)
2) a strategy where you know your reward (profit)
3) a strategy where you know your winning ratio.
These 3 questions are not answered by 99% of Expert Advisors. Because Martingale/Grid/Averaging strategies (very common in these EAs) doesn't have a known risk. If a trade goes wrong, these EAs increase the risk in a new trade, to cover the previous loss and make some profit.
3 months of backtesting in a strategy that answer these 3 questions is enough. 1/3 months in foward test in a demo account is enough. Start small in real account, and be happy!
You make a very interesting point but the hard part for me has been finding a strategy that yields just 2%. Most strategy I try end up losing a lot not matter what I do
Doesn't have to be 2%. You can set yourself free with 0.5% edge or even lower
I find getting an edge the difficult bit. I have trade the standard strategies but none of them give me the "edge" that means I can beat the market and get some profit. 0.5% would be a vast improvement on the 20% loss that I am currently in
Členem od Mar 03, 2019
57 příspěvků
Nov 05, 2019 at 11:31
Atchris posted:yes i started off using Babypips and found it helped a lot.
i agree with most here, babypips is the best place to learn
Členem od Nov 03, 2020
63 příspěvků
Jul 06, 2021 at 04:27
I think it's right to learn as much as possible about how the market works and how you can improve your trading system
Členem od Feb 18, 2021
10 příspěvků
Jul 22, 2021 at 07:24
Just like many others said, babypips is a good place to learn forex trading. For more sources of forex learning, certain youtube lectures are also worth watching.
Členem od Jul 23, 2020
696 příspěvků
Sep 05, 2021 at 13:47
Hello in the forum. It is one of the best communities for traders.
Členem od Apr 16, 2017
37 příspěvků
Sep 05, 2021 at 15:21
Mikelsius posted:
I have been training for some time and now I am in the test phase in demo accounts :)
I'm from Barcelona, regards!
Hello mate I wish you all the best
Členem od Mar 28, 2021
586 příspěvků
Sep 06, 2021 at 05:40
Hello and welcome to the community. Keep learning and practicing. You will get to know what more you need to do. Best of luck.
