Oct 23 2016 at 07:09
I've been learning all I can and practiced on demo for a year & half. I wanted to develop a strategy that works for me using as few indicators as possible. I ran 3 demo accounts into the ground before I was able to become profitable in demo for several months. I went live last week, and I feel optimistic. I met my goal for my first week. I'm hoping it will continue.
Cut it while it's hot.
Mentioned points are just top of an iceberg, but basically crucial and useful tips, thanks.
Another interesting thing that can help learning is live trading webinars, because you can actually see things in real time. This is exactly how I like things- no scam, no bullshit, pure knowledge.
Oct 25 2016 at 09:51
I agree. Another positive about webinars is that you can ask questions while the lecture is still going on, and get an answer in real time.
mlawson71 posted:
I agree. Another positive about webinars is that you can ask questions while the lecture is still going on, and get an answer in real time.
Exactly! More useful then any book or article
Oct 26 2016 at 06:49
Steps:
=====
1.Study the forex market and mt4 usage
2.Find a system suitable for you
3.Backtest the system by strategy tester for at least 2 years of past data
4.Forward test the same system in demo account for 3 months
5.Forward test in cent real account for 3 months
6.Go for live trading in a standard account risking not more than 1% to 2 % per trade
=====
1.Study the forex market and mt4 usage
2.Find a system suitable for you
3.Backtest the system by strategy tester for at least 2 years of past data
4.Forward test the same system in demo account for 3 months
5.Forward test in cent real account for 3 months
6.Go for live trading in a standard account risking not more than 1% to 2 % per trade
Artificial General Intelligence
Oct 26 2016 at 14:17
Very good point about the webinars, indeed! I've attended several so far and it was very helpful. Also YouTube is full of videos and webinars 😄 I've heard about live trading rooms as well, but these are paid and I am not sure what would be the return on investment with them.
Oct 26 2016 at 14:18
leo23 posted:
Steps:
=====
1.Study the forex market and mt4 usage
2.Find a system suitable for you
3.Backtest the system by strategy tester for at least 2 years of past data
4.Forward test the same system in demo account for 3 months
5.Forward test in cent real account for 3 months
6.Go for live trading in a standard account risking not more than 1% to 2 % per trade
I would not limit it just to MT4. You advice is good and platform agnostic.
Jan 10 2017 at 09:53
Nice observation! Really, new Forex traders should start with a small trading capital as, most of the new Forex traders crash their 1st deposit! In addition, in your learning session, you may get so many information’s but it’s not easy to absorb all of information’s, it takes time to absorb all of info! This is way, experience Forex traders can apply their trading knowledge perfectly here!
To change your trading result, just change your thinking.
Jan 10 2017 at 12:10
Great advice. I too, though, would say that there’s no need to stick to MT4 alone, there are plenty of platforms one can choose from, depending on what they need.
