Tips and tricks!

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!
    

good ones

Thank

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.

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.

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.

professional advice

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 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? :)

@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.

RedRhino posted:
professional advice




Thanks for the link,I dont think the guys in the pits believed in much of this stuff.

togr posted:

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.

I got a nice email from a guy in our trading group,thanking me for saving him thousands on putting in a guaranteed stop loss on a trade he was holding over night.

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.

Adjust the size of the lot too risk,it happened to me once lucky I jumped out of the trade right away,touch screen not good for trading on.

be lucky

togr posted:

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.

Did you work on Liverpool st?

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
What time is Goldmann sacks sitting down at their desk
Normally we should see selling off of the Euro during European session,but this is not always the case.
Remember that most strategies have been tested before,but just because they failed at a certain point in time doesn't mean they don't work now!

be lucky!
    

snapdragon1970 posted:

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
What time is Goldmann sacks sitting down at their desk
Normally we should see selling off of the Euro during European session,but this is not always the case.
Remember that most strategies have been tested before,but just because they failed at a certain point in time doesn't mean they don't work now!


be lucky!
    

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.

Oh wow, that was nasty. I got myself being cautious by now...

Pepen_supendi posted:

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.

Oh wow, that was nasty. I got myself being cautious by now...

I seen some other traders place huge lot sizes,they escaped for awhile then its wipe out.That pending order happened me once it went bad,lucky I had the minimum lot size on it.

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!

At least 2:1 or 3:1 risk reward
let trades run until you see weakness
close out of losing positions fast,a better trade is coming.
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,wait for a trend to develop.
technical trading is only a guide,not set in stone.
remember that the market learns quickly of any mispricing
If you miss a great trading opportunity,do not chase the trade,most of the time it will retest the same level.
Accumulation, otherwise know as consolidation or order stacking is your signal to be ready for a sharp move.
 

be lucky!