GBPCAD

Pip Marshall is not known for being careless with stops.
But this one got me out twice.

Perhaps it's my turn.
Hoping for the best.

I need that low taken out easily.

my top notch charts r my dollars in view.
technically, GBP is bound to sell from next week based on weekly tf except fundamentals prove it wrong.
all GBP pairs r producing bearish bars right now.

PipMarshall:
GBPCAD

Pip Marshall is not known for being careless with stops.
But this one got me out twice.

Perhaps it's my turn.
Hoping for the best.

I need that low taken out easily.

See why that low is important?
It's the lowest point of that pinbar.
Some will sell at the break of the nose of the pinbar.

Trade is running in 45pips

saxy4c:
Sell Gbpjpy 142.89 SL 143.55 TP 141.10

Tp hit 150 pips but I'm still holding

saxy4c:
Gbpnzd sell@2.0105 Tp@1.99800 Sl@2.01900

Running 30pips

saxy4c:

selling chfjpy 110.20 sl 110.50 tp open.

Running 30pips

saxy4c:

Buy EURGBP 8432 sl 8400 tp 8632

Hit sl on both entries

saxy4c:

Selling GBPAUD 1.9170 sl 1.9242 tp 1.8910

So I have a question, like how much is the reasonable minimal amount to start trade with? Your view bosses in the house

Splendid education. Learning a few.

PipMarshall:


See why that low is important?
It's the lowest point of that pinbar.
Some will sell at the break of the nose of the pinbar.

Good morning Ma'am, as non of the bosses done answer at least make I give you this kiddos opinion. The more appropriate question you should ask yourself is how much are you willing to lose first of all. Forget all this sweet results being posted, the default mentality is that the money you put in FX is going to be lost because even if you get all the technicalities and fundamentals right, your psychological limitations always come into play.

I won't say it takes years, because not everyone's mental capacity is the same, but it takes experience looking over the charts and understanding market behaviour before you can truly be profitable in forex, that's why less than 3% of forex traders are truly profitable. So you can imagine, out of about $400bn invested by retail trades, only a handful benefit from that amount.

From my experience of blowing accounts on a steady, year after year for almost 6 years until I started to get some clarity in the past 3years, I'd tell you with all confidence that it's much much harder to flip 50usd to 100usd, but easier to trade 500usd to 2000usd within the same period.

So if you just want to learn how the market behaves from trading a live account, as I honestly have never believed in demo trading, because even down to the servers they use are atimes different from live servers, then I'd advice you throw in 100usd and see how to avoid loosing 1000pips. But if you're looking at making a living off forex, then 1000usd is an adequate start. These are purely my personal experiences, no hard and fast rule.

Ummuaisha:
So I have a question, like how much is the reasonable minimal amount to start trade with? Your view bosses in the house

Ummuaisha:
So I have a question, like how much is the reasonable minimal amount to start trade with? Your view bosses in the house

$200, if you can afford it.

If I might ask sir, what kind of returns are you looking at on this?

SayDeeJay:


$200, if you can afford it.

saxy4c:
Good morning Ma'am, as non of the bosses done answer at least make I give you this kiddos opinion. The more appropriate question you should ask yourself is how much are you willing to lose first of all. Forget all this sweet results being posted, the default mentality is that the money you put in FX is going to be lost because even if you get all the technicalities and fundamentals right, your psychological limitations always come into play.

I won't say it takes years, because not everyone's mental capacity is the same, but it takes experience looking over the charts and understanding market behaviour before you can truly be profitable in forex, that's why less than 3% of forex traders are truly profitable. So you can imagine, out of about $400bn invested by retail trades, only a handful benefit from that amount.

From my experience of blowing accounts on a steady, year after year for almost 6 years until I started to get some clarity in the past 3years, I'd tell you with all confidence that it's much much harder to flip 50usd to 100usd, but easier to trade 500usd to 2000usd within the same period.

So if you just want to learn how the market behaves from trading a live account, as I honestly have never believed in demo trading, because even down to the servers they use are atimes different from live servers, then I'd advice you throw in 100usd and see how to avoid loosing 1000pips. But if you're looking at making a living off forex, then 1000usd is an adequate start. These are purely my personal experiences, no hard and fast rule.

Great response. What is the appropriate leverage for The newbie on The ECN account

saxy4c:
Good morning Ma'am, as non of the bosses done answer at least make I give you this kiddos opinion. The more appropriate question you should ask yourself is how much are you willing to lose first of all. Forget all this sweet results being posted, the default mentality is that the money you put in FX is going to be lost because even if you get all the technicalities and fundamentals right, your psychological limitations always come into play.

I won't say it takes years, because not everyone's mental capacity is the same, but it takes experience looking over the charts and understanding market behaviour before you can truly be profitable in forex, that's why less than 3% of forex traders are truly profitable. So you can imagine, out of about $400bn invested by retail trades, only a handful benefit from that amount.

From my experience of blowing accounts on a steady, year after year for almost 6 years until I started to get some clarity in the past 3years, I'd tell you with all confidence that it's much much harder to flip 50usd to 100usd, but easier to trade 500usd to 2000usd within the same period.

So if you just want to learn how the market behaves from trading a live account, as I honestly have never believed in demo trading, because even down to the servers they use are atimes different from live servers, then I'd advice you throw in 100usd and see how to avoid loosing 1000pips. But if you're looking at making a living off forex, then 1000usd is an adequate start. These are purely my personal experiences, no hard and fast rule.

Equity is nothing, in as much as you know what you are doing. All it takes is proper risk management.
Making money in forex is never based on how much you ve got.
Although, flipping 50 to 100 might be more difficult than 500 to 2000 like you rightly said.

saxy4c:
If I might ask sir, what kind of returns are you looking at on this?

The profit is limitless. So don't underate the equity

I still would like to emphasize that equity plays a vital role in the level of risk one can take. Money management has everything to do with equity especially when considering smaller amounts.

You have N20bn in your account and I have N2bn. I can display the same lifestyle exactly as you until someone checks what my bank account is. On the contrary, you have 200m and I have 20m, I definitely cant afford to do same because just one luxury car (risk taken) would greatly affect my capacity to make another big money purchase.
My point of view though.

wiconse:


Equity is nothing, in as much as you know what you are doing. All it takes is proper risk management.
Making money in forex is never based on how much you ve got.
Although, flipping 50 to 100 might be more difficult than 500 to 2000 like you rightly said.

There would be spikes, there would be booms in the next 1 hour, either take advantage of it or stick to your applied or mental SL. Selah!

TheYoda:
I respect your opinion sir, especially for all the good things you have done. Do you personally see the account? or you him personally?

Bro. What I saw is more than that o? That one you saw is a child play.
Its about time bro, as you are growing in the right direction, your account will grow to an extent people will doubt your account if your account is demo or real and you will realize there is no point to prove if it's real or not. Just as it's difficult for you to believe now.

Closing both gold buys for 50 pips, market looks like USD is coming out strong for the news. Better be safe, personally I'm not being safe at the moment

Gold sell 1476.80
Tp 1463
Sl 1489
Use small lots nfp news coming

saxy4c:
Adding to gold buy at 1475 sl for both is 1471, dont feel like taking a loss in gold.
Adding to gbpaud sell at 9220 sl moved a bit from 9242 to 9252. If this trade does bad to me I'd delete all GBP pairs from my charts till after their elections on the 12th.

saxy4c:
Closing both gold buys for 50 pips, market looks like USD is coming out strong for the news. Better be safe, personally I'm not being safe at the moment

Gbp wickedness. I closed most of my GBP trades. Mixture of reds and green.

saxy4c:
Good morning Ma'am, as non of the bosses done answer at least make I give you this kiddos opinion. The more appropriate question you should ask yourself is how much are you willing to lose first of all. Forget all this sweet results being posted, the default mentality is that the money you put in FX is going to be lost because even if you get all the technicalities and fundamentals right, your psychological limitations always come into play.

I won't say it takes years, because not everyone's mental capacity is the same, but it takes experience looking over the charts and understanding market behaviour before you can truly be profitable in forex, that's why less than 3% of forex traders are truly profitable. So you can imagine, out of about $400bn invested by retail trades, only a handful benefit from that amount.

From my experience of blowing accounts on a steady, year after year for almost 6 years until I started to get some clarity in the past 3years, I'd tell you with all confidence that it's much much harder to flip 50usd to 100usd, but easier to trade 500usd to 2000usd within the same period.

So if you just want to learn how the market behaves from trading a live account, as I honestly have never believed in demo trading, because even down to the servers they use are atimes different from live servers, then I'd advice you throw in 100usd and see how to avoid loosing 1000pips. But if you're looking at making a living off forex, then 1000usd is an adequate start. These are purely my personal experiences, no hard and fast rule.

Bro Mi as if you sef nobi boss for here, okay I don hear, I appreciate your beautiful response its depends on how much I'm willing to loose and won't go bankrupt because of it. Jummah Mubarak bro

SayDeeJay:


$200, if you can afford it.

Thanks boss��

wiconse:


Equity is nothing, in as much as you know what you are doing. All it takes is proper risk management.
Making money in forex is never based on how much you ve got.
Although, flipping 50 to 100 might be more difficult than 500 to 2000 like you rightly said.

Thanks for the encouragement

It was a boom within 2mins!!! One could read the market sentiments before the news, technical always rules. All loss would be recovered insha Allah. Closing this trade with 110pips at 1465 you can wait to tp at 1463.

saxy4c:
Closing both gold buys for 50 pips, market looks like USD is coming out strong for the news. Better be safe, personally I'm not being safe at the moment

Gold sell 1476.80
Tp 1463
Sl 1489
Use small lots nfp news coming

GBP doing kelewa.
Long continuation by Monday.
Still observing

We would recover losses slow and steady, GBP messed up my plan for accelerated growth but let's do it the patient way this time.

infofirst:


Gbp wickedness. I closed most of my GBP trades. Mixture of reds and green.

NZDCAD sell 0.87006 SL : 0.87300
GBPCAD sell 1.73930 SL : 1.74250

Pardon me but it's a bit of stress typing these atimes, most times I trade with 30pips sl and at least 100pips tp. So except stated otherwise, I'd be posting just entry points. Trade as you're directed and most importantly try to understand why the trade was taken. Also very vital is please try to grow your demo account as much as possible, don't restrict yourself to what myopic people would tell you should be your targets, the market has a turnover of almost 5trillion USD, what happened to aiming for a million bucks from your small 1k account?
Love you all and I pray you make more profits than I do.
Selah!

I'm always glad to be of help madam, Jummah Kareem dear sister!

Ummuaisha:

Bro Mi as if you sef nobi boss for here, okay I don hear, I appreciate your beautiful response its depends on how much I'm willing to loose and won't go bankrupt because of it. Jummah Mubarak bro

Tp hit with 140pips, I don't think I'd put in all this effort to study and make highly calculated deductions [not the VAP type which is for outstandingly intellectual individuals] only to trade on a demo account. Although I traded a 250usd account to 100usd today because I broke a few of my principles. But it would get back up again. I would like to share some study materials over the weekend. Stuff that goes straight to the month. It might be extremely simple but make to plan the trade and trade the plan to ensure success. No deviations! Have a great weekend guys.

saxy4c:
Closing both gold buys for 50 pips, market looks like USD is coming out strong for the news. Better be safe, personally I'm not being safe at the moment

Gold sell 1476.80
Tp 1463
Sl 1489
Use small lots nfp news coming

saxy4c:


Tp hit 150 pips but I'm still holding

how do you hold a trade after hitting tp?

saxy4c:
We would recover losses slow and steady, GBP messed up my plan for accelerated growth but let's do it the patient way this time.

Definitely. We are good

Infofirst I'll like to send you a DM. Permission granted?

Ummuaisha:
Infofirst I'll like to send you a DM. Permission granted?

Yes ma

Exited most my positions.
Need to reassess all over the weekend.
Would look for new entries next week.

Small gains better than losses.

PipMarshall:
Exited most my positions.
Need to reassess all over the weekend.
Would look for new entries next week.

Especially those involving USD