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Help for newbies

MarcoKanto
Feb 28 2016 at 07:09
2帖子
Good Morning from London.

I'm new to MyFxBook but not new to FX. I have a question about adding my account to MFB for analytics but I'm hitting against a 'check log in credentials' barrier when trying to use the MT4 'auto update' option.

Any help with this appreciated.

M

vontogr (togr)
Feb 29 2016 at 09:33
4862帖子
Good morning,

it would be easier to download and use MFB EA to update your account.

The described error could be wrong credentials.

vontogr (togr)
Feb 29 2016 at 09:37
4862帖子
IMHO The worst error

1. Trading Without a Plan or Journaling

Even noobs fresh out of the School and in their first week of trading know that the market is as unpredictable as the next American Idol sensation. More often than not, in the attempt to make the most out of the opportunities the market presents, you get so lost in the emotions that you forget what you’re supposed to do.

Think of Frodo in the Lord of the Rings. He was tasked to destroy the ring but in his journey towards Mt. Doom in Mordor, he lost focus on his mission.

With your own money on the line, you wouldn’t want to be like Frodo when you’re trading, would you? I don’t think so. To help you achieve your goal, which is to become a consistently profitable trader, you need a trading plan and trading journal.

It can be a simple outline of your entry and exit conditions and risk management rules, and it needs to be written down any place that you can refer to, record and review your progress Your trading plan and trading journal will be your best bud, like your very own Samwise Gamgee, and your journal will be like a pseudo self-coach who will keep you focused on your mission when market forces drive you crazy.



Read more: https://www.babypips.com/blogs/pipsychology/the_5_most_common_mistakes_new.html#ixzz41Y2vP0SJ

MarcoKanto
Feb 29 2016 at 13:13
2帖子
togr posted:
Good morning,

it would be easier to download and use MFB EA to update your account.

The described error could be wrong credentials.


Thanks for your reply - as it turns out I was attempting to log in to a demo server rather than a real account server!!

vontogr (togr)
Feb 29 2016 at 15:00
4862帖子
MarcoKanto posted:
togr posted:
Good morning,

it would be easier to download and use MFB EA to update your account.

The described error could be wrong credentials.


Thanks for your reply - as it turns out I was attempting to log in to a demo server rather than a real account server!!


Thats mistake we almost no consequences ;)

vontogr (togr)
Mar 01 2016 at 07:22
4862帖子
Another important rule for today


Never risk more than 2% per trade. This is the most common - and yet also the most violated - rule in trading and goes a long way toward explaining why most traders lose money. Trading books are littered with stories of traders losing one, two, even five years' worth of profits in a single trade gone terribly wrong. This is the primary reason why the 2% stop-loss rule can never be violated. No matter how certain the trader may be about a particular outcome, the market, as the well known economist John Maynard Keynes, said, 'can stay irrational far longer that you can remain solvent.'

jhonix
Feb 26 2017 at 06:57
37帖子
To be successful at trading you must take full responsibility for your decisions and actions.😉

Samm
proyecto
Feb 27 2017 at 18:53
36帖子
The forex is one of the most profitable investment models that exists, but to make money in it you have to familiarize yourself, learn new concepts and have patience, and above all, a great control of the emotions.
It is necessary to plan taking into account the objectives that have and the limits that can be reached.

jhonix
Feb 27 2017 at 21:40
37帖子
togr posted:
Another important rule for today


Never risk more than 2% per trade. This is the most common - and yet also the most violated - rule in trading and goes a long way toward explaining why most traders lose money. Trading books are littered with stories of traders losing one, two, even five years' worth of profits in a single trade gone terribly wrong. This is the primary reason why the 2% stop-loss rule can never be violated. No matter how certain the trader may be about a particular outcome, the market, as the well known economist John Maynard Keynes, said, 'can stay irrational far longer that you can remain solvent.'


 You're right..! A point of great importance is Patience. Since it is necessary to remain calm, to have patience, to let time pass and not to despair. To make the right decision.

Alessan
alessanFX
Mar 01 2017 at 07:50
10帖子
I recommend taking into account that the forex requires a method and a discipline, otherwise it will cost a lot to win and get good benefits. Therefore, before opening an account, read and study this guide carefully

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