Thread: Noobs on a mission. My journey back to a thousand.

Well today was a day on Forex Street.

Just an update. My account grew 600 pips richer thanks to the Us Dropping interest rates to an all time low. I am grinding my way back. My account struck $160 today When I was trading minis it'd be a lot more :

As a side note... its not that I am a genius. I have been trading lately, but its worked out in my favor up to now. At some stage I'Id actually need to take it a bit slower. See ya.

Just how many lots do you use per commerce?

Im considering going live a year ago with a micro account, so I am interested in seeing how your micro account trading belongs.

Originally Posted by ;

I only need to come back and post something real quick to explain my last article.

My final msg:


I left that call several hours ago. The chart details what occurred.

Anyhow, what we watched was a timeless pattern. Price had traveled abive the prior high overnight. It came back to where it opened and found support, creating a low point for traders to clarify their risk.

At that point it flew across a range until the US open, and taken up from that point. I have been the entire day up until today. Price only hit the weekly R1, which was...

hello Quick, thanks to share it. Just how much of Mark Fisher it has? I tried to use it but could not predict when is breakout or pullback. Wich is exactly what you attempt to perform.

I understand that price need to open over previous close. The high there's a large importance?

And when the near for you is based in GMT time or session period (so various time in GMT when have DST)?


best regards.

Originally Posted by ;

hey Rapid, thanks for share it. How much Mark Fisher it's? I tried to use it couldn't predict when is breakout or pullback. Wich is precisely what you try to do.

I have never heard of Mark Fisher, and I doubt that it's anything to do with those techniques. Don't expect to get it go through the MP handbook. It's worth it, and the stuff that is best is saved for last. It's not so much about the indior as it is the concepts of imbalance and time frame.

Originally Posted by ;

I know that price need to open over previous close. The high there's a big importance?

Absolutely.

Originally Posted by ;

And when the close for you relies in GMT time or session time (so various time in GMT when have DST)?

Use the typical most significant period of volatility for those pairs you are looking at. The EURUSD will be a lot more direct as it is a pair of reserves, but if you compensate you can adjust for other pairs also. Let the market tell you once it is ending and starting.

Originally Posted by ;

How many micro lots do you use per transaction?

Im considering going live next year using a micro account, so I am interested in seeing how a micro account trading goes.

Hey Tactaob. Well I am not just conservative in my approach.... So that I wouldnt recommend anything. Remember I am a noob.

To answer your question. I begin with 1 or two depending on how much room I believe there is until the degree of heavy resistance. I 1 microlot into my position every 100 pips succesfully obtained. When doing this theres a possibility of getting burnt, but so far its worked out okay.

I always use stops /trailing stops when trading. This is something I incorporated into my own trading. Being a newcomer and all, I hated when my stop was hit and then bounced back to continue the original trend. Though its bothersome, its something I've learned to live with though as its significantly limited losses. I attempt to let my profits until I am stopped out as ride, theres no reason out a position if the transactions gaining profit. (Today I closed out a position prematurely only to get it gain the following 200 PIPS!) I'd have left 600 though because I was long 3 lots... err oh well I made money)

In closeing ... microlots SUCK! ... to be truthful. However, its the only way I can stay disciplined enough to not risk a great deal. Even trading lots I am not just following the protocol up to how much you must risk per transaction. If this really was a mini account I'd be.... Should I say .... BAALLLLINN!!

FYI.... I Found JACKO, and threads that were James16 to be incredibly useful in my trading egy. I'd reccommend reading them.

I gotta go for now .... I'll be posting. I was able to loe a template setup that I am quite happy with so far. I can post it after.

Thank you for the answers above Rabid.