Bags first steps
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Thread: Bags first steps

  1. #1
    Post 1, trade 0

    Let us see if this diary takes off. I have been trading stocks with little to no impact, and taking inflation into account, it's been a negative experience. Moved on to choices and got frued with broker hours and spreads. Then lept in to sell Yen short just before the Fed cut interest rates simply to watch it rise gradually from 98 to well over 100. That taught me that price action depends upon expectations rather than necessarily fundamentals.

  2. #2
    This thread will stay at commerce 0 until I have my first live commerce.
    I'm buying a 2nd hand pc tomorrowwill install mt4 and demonion it for a while and then go as soon as possible. Live trading is quite different to demonion, according to numerousforexforum.co.zaposters. (Thank you for the hints ).
    (my employers have given me a mac. Lovely to Check at but not mt4 friendly)

  3. #3
    Work time. 3 children at home. Love my job, love my loved ones, no intention of going full time trader. Just need cash. I am not greedy, not in a rush. But hope to turn my small amount into a substantial whopping major f.u. fund.

  4. #4
    So where's this going? Crash and burn off with the other 90%, or...

  5. #5
    As a result of TrevA and his Lot size calculator for good money management I finally have a handy money management tool. I really like the way it reveals what a pip trickle can do to your equity. The part I am not sure about at the moment is stop loss. 35 seems a bit tight? Will get stopped out frequently through noise I guess. So I need a great egy.

    It must fit my lifestyle. I have easy access to the internet accessibility to your pc. So entering a transaction should occur early morning or late in the day. It is going to be tempting to inspect the market throughout the day however.

  6. #6
    Bought a cheap 2nd hand computer, nothing on it except now mt4 and windows.
    Spent yesterday obtaining some charts in line with s 4hr MACD egy.
    Read most of the 13 lessons contained in the early posts,
    Next steps:
    Keep reading the 13 classes to completely understand them.
    Look at where to position SLs and TPs.
    Work through the set of essential understandings

  7. #7
    Risk benefit is beginning to become clearer and in which to put stop losses.
    Need to look at TC TR more.
    Keeping Phil's first document available.
    All set up using a live account. But analyzing the charts for the time being. Employed the demo account a few occasions to pull the trigger. Going to keep the usage of the demo down to a minimum to keep things real.
    (keeping a watch oin Ozfx to see how it works for my lifestyle, don't know EAs yet, need to comprehend the 4 hour MACD first.)

  8. #8
    I was hoping to go live soon, but it looks like I need to be a bit more patient. I'm beginning to get the concept of the MACD 4 hr egy, however I need to recognise the rhythm somewhat better. There was a good signal recently that I might have taken.

  9. #9
    System: MACD 4Hr

    Stop loss 1.5461
    TP 1.5595

    Entrance 1.5508

    Why Transaction:
    Price is under 89 and 200. Expected to pull back to 21.
    MACD sitting under -0.0045 indiing ardently oversold.
    Candle only before has a long tail .


    Why not to exchange:

  10. #10
    1. TP set too large. At this stage of my trading I need to take profits at a level I am comfortable with. The pips are not mine until I shut. Never allow a profitable trade become a losing trrade.
    2. In my trading journal add a line for Potential TP and a Personal TP
    3. Wait for greater probability trades. Wait for a TC sign from the MACD.
    4. Get more in tune with the rhythm

    I closed too early. Got a little nervous looking at the margin. Want more confidence in my analysis.

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