BluePearls:


To start with, $50 acct with 0.01 money management, is it realistic to make 100% in a week?
Secondly, what's the best SL margin to use?

^{call it bad belle ,,,,....you like it or not your few deposit is for your broker,,,while you continue learning on your mistake}

BluePearls:


I totally agree with you on that last point. Being a newbie, I depend on signals to trade. Case in point, pic attached, $50 investment, micro acct with 0.01 money management. I took that trade on a BUY and it changed lanes right before my eyes. Thankfully it was on demo, but I decided to let it ride, hoping it would recover after the effects of the news. Currently I'm on deficit of $25, Imagined that on a Live acct, I'd be seriously burnt. Looses are inevitable, but protecting yourself from a major one is key.

Pipsbasketing I wouldn't mind taking one or two pointers from you.

BluePearls:

To start with, $50 acct with 0.01 money management, is it realistic to make 100% in a week?
Secondly, what's the best SL margin to use?

amolak:
mere looking at ur chart with that moving average i know where market is going. you wanted to stop moving train

BluePearls:


To start with, $50 acct with 0.01 money management, is it realistic to make 100% in a week?
Secondly, what's the best SL margin to use?

currentprice:

see question

why not seek knowledge first and allow the wining comes naturally

^{call it bad belle ,,,,....you like it or not your few deposit is for your broker,,,while you continue learning on your mistake}

lawson007:
oga Rozayx5 i salute O!

come in na...your contribution will be highly appreciated as u already know.

Pipsbasketing:
If you really want to be effective at applying excellent Risk/Money Management.....Think about this

2014, I had the urge to do a fixed deposit of about 1.5M with one of our Nigerian banks, thus curious about what the interest on the fixed deposit would be. I did the survey on about 5 top banks and the maximum interest rate I could get was about 5-6% per annum. I started with FirstBank on monthly rollover based. Surprisingly, the 5-6% was again manipulated to suit the monthly based plan, like it was again divided by 12. I got almost nothing and had to quit after 2months of dissatisfaction.

Some months after, I went into some banks in England to do fixed deposit with them hoping to earn my interest in pounds. In fact, the most shocking, the bank managers told me point blank that there is almost zero interest in fixing money with them. I did not think it twice, I knew fixing money in banks may not yield a feasible interest.

Fast forward early this year, I contacted the banks again, particularly GTB. The agent mentioned about 5% per annum. I told her to not let us discuss % but the value. I asked her to help tell me the interest value per annum on 500k fixed deposit, she did it and gave me an answer of about 11k interest per annum. I got totally discouraged about fixing money.

That has helped me to think if I can trade FX with a confirmed assurance of constant minimum monthly inflow of 20% (no greed here), it might sometimes be more and that is why I leave trade to trend to exhaustion on the daily TF, that will do. With the assurance, one can live on FX with good capital.

Lesson
-When you fund your FX live account, think about it in a form of fixed deposit. your assured 20% constant monthly profit is far better than the annual interest you would have got if fixed in the bank
-Why the greed?
-Learn to ride slowly and steadily: I have abandoned the FX market many times, many years. This is 2016, the market still exists.
-Use comfortable lot size that will put your mind at rest.
-What many people neglect is testing also their risk/money management skills on demo, they only focus on testing strategies: Excellent strategy, poor Risk/Money management is failure

Selah

Edd1e:
@bluepearls, u r making the very first mistake Fx traders do make.

Don't think about how much u r going to make on a daily, weekly basis.
But, how much u can protect your capital.... In Fx, u only know ur risk not returns.
Do ur due diligence, and returns will come in due time....

Having Daily, Weekly targets put more pressure on you especially when it is not reasonable, You can however have monthly targets but that shouldn't be a cause for trading, not every day, week, month will be the same, just always ensure u " break even at least every month"

Peace

fxbomovi:
hi guys, I know there are many xm clients here, kindly answer this question 'does xm accept temporary driving license? But d license expired aprij 2016. Will it b accepted?

BluePearls:
Thanks guys.. I really appreciate the comments.. The hustle is hard; D

What I've learnt so far
1. Learn to deal with the risk
2. Don't jump the gun when you've not learnt the ropes
3. Have a feasible target
4. Build from the ground up, maybe be tedious at first but the knowledge gained along the way is essential
5. Perfect your strategies, learn new ones if you have to, but don't overwhelm yourself. Stick with what works

Am I on track guys? Oh! I'm stuck at No. 5, any help will be appreciated.

Feshizzy:

6.
No condition is permanent.
The market is dynamic don't be rigid. Follow the trend till it says other wise.

7. Have a viable daily and weekly target depending on vigorous backtest of your strategies to ascertain what's possible.

8. Never put all your hope in one trade.
Hit singles not home-run.

9. Control your emotions, don't trade if you are too emotional (ogbo=greed)

10. Respect the market.

priceaction:
Can't see that exact indicator

dowjones:


Hi.. I'll like to have a chat with you.. Reach me on. xxxxx@xxxxxxx.com Thanks

Feshizzy:


not advisable to drop emails here mate,

JLINE:
...here you go... out now.

JLINE:
Get ready,new sets of trades are getting ready to be taken...usdcad,audjpy,ger30 and oil all on the buy side

Feshizzy:


The poster below me, don't use this as an excuse.
The thread is moving