first of all I'd like thank you for your kindest replies, I am following your tips, I jumped first on short for NZSUSD then I sold it and then on BUY and then sold it again taking some pips, at the moment I am studying the Elliott Wave on an Internet book in Italian my language but it is really for experts, it seems so.
By the way, I think I must take practice with the Metatrader to measure the retracement.
Thanks for now, I'll send you some good Italian wine then :)
@mirange NZDUSD is valid under 0.8435. Just place the stop there and don't worry. It is a trade with well defined resistance. I'm waiting for 0.8390 and don't want to ruin a good month. Also I'm not that confortable paying swaps.
I wanted to inform u that we have got a good team of forex traders and let me truly inform that I was also one of the loosers but after a long time I got a gud team of traders and then my days got back. I lost almost all my money and I had only $90 remaining before 2 months but now I have $1600 balance on my account after 6 weeks and this is all with the help of my team members n obviously me. So I would like to suggest u to once contact me personally so that I could show u my live performance. I hope this messages is going to b really helpful to u. Thank you
Yes it really looks like advertisement.. Ardit, excuse, but which instrument do you use? Metatrader, to measure the waves? thanks and have a good weekend I am 41 :) doing accountant in a company, but trying to learn this hobby / work
Metatrader is a platfor for automatic trading and don't think it's good for manual trading and analysis.
I use Trade Station, platform from FXCM UK, a very good platform for manual trading. It is also supported for IOS (ipad and iphone) and android devices. I would highly recommend open a practice account with FXCM and get familiar with the platform.
Also a very good platform is Ninja Trader too, it is a paid platform. I am thinking about switching to Ninja, but Trade Station will do just fine.
I am 31 and banker by profession. Have a nice weekend too.
Yes, intact the meta trader does not fit me, at the moment I am looking the graphics at on line investing web site they have a real good news, calendars and the platform, but it is just to read and cannot doing all the staff, ok I am going to follow the raccomandation, i'll be back :) Thank you and Enjoy
Well second question is a little bit hard to answer in general, but I'll answer my experience.
I see trading from risk/reward perspective. My time horizon is wider than most of the traders you can find. I don't try to get rich fast on forex (not that I don't want too) because it involves a lot of risks. Here you can find a loot of traders who make 200-300% in a month, they get in great length to promote their trading, but in the end they loose all. Best way to go it to limit risks as much as possible, always to calculate what you are willing to loose (stop loss) and never risk loose more than 1% on a trade and never trade more than 3 pairs. So I define risk not with lot size but with % of risk.
To be honest, 1-3% monthly gain is perfect and everything above that is additional risk. Yearly gain 20-25%. In my country time deposits on banks is about 1% yearly why not feel comfortable with 20% a year in forex.
Done, I made a demo account at FXCM in italian, plus I have noticed that is the same platform that I have already seen in a webinar, and fits on iMac, wonderful, but another thing to study :)
About the average income, yes you are right, the money management that I am studying, it looks that is going to save the little account I do have, but, I have lost all the little capital, because I traded in 6 - 8 trades each time, and let say I was lucky for 1 month or so, then my account was rewetted and failed because I did not fixed the stop losses, now I have learned.
Yes 3 pairs, it is good and never more than the 1% of capital, but, the account I do have in demo, ok, now I have 2 demos, but the normal bank, it opens a position and just the 1% limit, but cannot fix the stop loss and take profit, just a point that I don't like.
Hello , I apologize my question, I joined the FXCM in my language, and it is really worth, by the way I am trying to connect a new account of FXCM with Myfxbook with a iMac, do you think is this possible?
WARNUNG VOR HOHEM RISIKO: Der Devisenhandel birgt ein hohes Risiko, das möglicherweise nicht für alle Anleger geeignet ist.
Der Einsatz von Leverage schafft zusätzliches Risiko und Verlustgefahr. Bevor Sie sich für den Devisenhandel entscheiden, sollten Sie Ihre Anlageziele, Ihr Erfahrungsniveau und Ihre Risikotoleranz sorgfältig prüfen.
Sie könnten Ihre ursprüngliche Investition teilweise oder ganz verlieren. Investieren Sie kein Geld, das Sie sich nicht leisten können, zu verlieren. Informieren Sie sich über die mit dem Devisenhandel verbundenen Risiken und lassen Sie sich von einem unabhängigen Finanz- oder Steuerberater beraten, wenn Sie Fragen haben.
Alle Daten und Informationen werden ausschließlich zu Informationszwecken bereitgestellt und sind nicht für Handelszwecke oder Beratung gedacht.
Die vergangene Performance ist kein Indikator für zukünftige Ergebnisse.