I want to learn also.

Wei. Profit banyak from FX. Get new one fast.

Hello guys. Anyone here have Twitter ? do PM me. Expanding my FX network.

u know wat happen? losing $$ on GU coz i was on long... didnt put SL, ended up with a bing loss
u got order from GU sifu? just made some profit just now from GU but still cant cover da previous loss...

Demo account only boss. I wish i really can earn from FX

Bro, which oanda is freezing the account? I'm using Oanda sg.... Do you have the news link?

Guys i have a question on sizing. Let say you see an entry, breakout for an example, would you:
1) Use a fixed size as long as the risk is 2% of the capital

or

2) choose a size based on a logical SL that risk within 2% of the capital?

i don't know how you guys can read multiple charts at the same time

unless you trade 1 or 2 pairs, or else for me, i easily get confused

This post has been edited by brotan: Apr 14 2016, 03:46 PM

Well.. that was true thou..

My friends don't trade as they are mostly auditors and the work itself already killing them..

So the next best thing is to look for a mentor here but i just cant go knocking on everyone's door and ask them for free lesson..

The better option now is to wait for feedbacks and attempt to study on my own first..

Do you guy have gathering and do live trading together? Would love to tag along as i am able learn faster through observation.

This post has been edited by kabyss87: Apr 14 2016, 04:03 PM

best way is to try understand as much as you can and some missing piece you can ask here. if got sifu (btw, i am not sifu, i am sisiong ) reply, good for you

This post has been edited by brotan: Apr 14 2016, 03:58 PM

Pips before money. Remember that. No 2 would be the answer. Your SL is based on your trading strategy and the current conditions of your trade and therefore you determine the number of PIPs you want to risk for the SL and then calculate the 2% money risk for it.

You usually don't trade with a fixed SL unless that is part of your strategy. I know some traders will always fix SL no matter the conditions because it suits their strategy (usually scalpers since there is no time to recalculate and you open your trades with fixed scripts).

Talk about missing piece.. i am actually looking for it now..

sisiong or sifu any input is good input... unless is those nasty fx scam and shiats

Alright thanks. Facing an issue where the SL pips is more than my 2% capital for 0.01 size.... So i guess is either skip this trade or increase my capital to trade ya?

at least u know to take effort n b patient

i m s well a beginner in Forex, learning from all da sifu here (many dont admit they r sifu)... in da same time, read some of the sites that can offer u more understanding in Forex. babypips.com will definitely help u

http://www.babypips.com/school?returnhome=1

in da same time, apply wat u have learn in Demo... always try-n-error... u will then know wat techniques suit u best.

i know some of them here gather to discuss bout forex. since im new, i have not join them yet till now. who knows, v will meet one of da day

good luck!

good one coming from a sifu

will keep that in mind. thanks!

If the trade is good then you can go for it. The risk factor is just a guideline to control emotions. The more you lose, the more emotional you get.

A 2% risk factor, in your case you can't go any lower than 0.01 size, gives you 50 trades instead of 20 trades of 5% before you MC. The number of trades goes down drastically as you increase risk and that impacts your trading emotions.

Ahah.. I've gone through the lessons in babypips actually and it was indeed a good place to get the basics

i've actually been browsing around forextfactory for sometime for more information. But the thing is, there is so much info it became overwhelming to me..

Why not we start our own newbie gathering for a start?? All sifu here seems to be busy making money

Hmm... problem is no matter how good the trade looks like, you maybe wrong. So if i stick with 2%, the SL doesn't make sense. And if i increase my risk to 5%, wouldn't this undisciplined?

I not busy but I still make money. Lol

The true power of ea

If you are going to open a trade and you are not confident of doing so, then don't open. Your analysis must give you more than a 50% chance of winning. Otherwise you might as well flip a coin and let it decide to buy or sell.

I know there is no such thing as 100% but your strategy/analysis must give you more than 50% confidence/chance of winning. If not, like I said above, go flip a coin.

You can break the 2% rule once in a while but if most trades need you to break this rule, then you will have to look into your strategy and analysis again.