GabsonFX:
Position trader

CopyJoe:


@Charly20

This is exactly what you should do.

Take trades, make mistakes, blow the account.

The lessons will greatly improve your trading knowledge.

I can see fear in your trades. I have observed that you dwell more on analysis and less on taking actually trades.

I have learned more from my losses than from winnings.

One love bro.

I want you to succeed. And, together, we will succeed in this business.

Selah.

Nigercity:
Pls... Dose anyone knows exactly when to enter the market, am tired of hiting sL before they market start going back to my predict direction and tp

charly20:


Maybe it's my choice of words but I believe we mean the same thing.

Thanks though, happy weekend!

Depressed111:





It seems u hate correction, I will not advice u again

Depressed111:




Why are u crying? Your problem is very small,



Solution : Let your SL be your Entry, that place u wanted to put your SL enh that should be the place u should enter the market

Depressed111:




Why are u crying? Your problem is very small,



Solution : Let your SL be your Entry, that place u wanted to put your SL enh that should be the place u should enter the market

djwalata:

I don't think this can also work for him because I bliv he must have considered all parameters based on what he blivs should work b4 taken those trades.
May b he needs more practices to better his precision.

Nigercity:


Yeah your are kinda right shaa, but how am I to know that my sl will be hit before reversing,
Since in some cases while am waiting for confirmations to avoid hitting my sl, the market would just leave me and trade off.....

@ skylane you can also help?

XAUTrader4L:
I will buy gold when the market opens with SL at 100 pips and TP at 1848.

Nigercity:


Yeah your are kinda right shaa, but how am I to know that my sl will be hit before reversing,
Since in some cases while am waiting for confirmations to avoid hitting my sl, the market would just leave me and trade off.....

@ skylane you can also help?

skylane:
now there are rules before you enter a trade
1 check if the price is at a verified resistance and support
2 make sure your stop loss is not too tight but not more than 4% of your capital
3 are the stop loss cleared?
4make sure you see a reversal pattern or a reversal price candle stick pattern before you enter your trade
5 and the most important Patience to allow rule 1-4 happen before taking a trend in lieu with the trend direction,
are u clear?@ nigercity

VeeVeeMyLuv:
What do u call a trader whose total equity less than $200 opened a position (entered a trade) using a signal generated in the monthly time frame without first switching to lower time frames?

Gasive:


The answer is Gasive.

According to dictionary .com,

Gasive: (1) wanting to achieve beyond your capabilities with limited resources. But ultimately achieving nothing.

Other words from Gasive - Gasived, Gasiving.

Synonyms - Fantasy, greed, over-ambitious.

Example 1 : I knew I've been gasived when I couldn't kill a deer with my catapult.

Example 2 : I told my dad I'll like to visit the moon but he told me to stop gasiving.

Nigercity:


Thanks boss
This is helpful
Although I don't really understand the no 3 part (are the stop cleared)
Maybe you could through more light

skylane:
my brother blow that account to 50$ if u can then u are already half way to be a pro trader

Depressed111:




Can u start a live account with 5,000$ If no, then y using 5k$ to practice? Reduce it to the amount you can start with

abham:
well, $5k is the least amount for a demo account with O.c.t.a.f.x

Depressed111:





It seems u hate correction, I will not advice u again

skylane:
now there are rules before you ente
2 make sure your stop loss is not too tight but not more than 4% of your capital
are u clear?@ nigercity

VeeVeeMyLuv:

Wrong Boss

is like u did not fully understand the question.

A trader whose total equity less than $200 directly enters a position based on signal generated on monthly time frame without first switching to the lower timeframes, is one trader who is clearly Unsure, a Learner.

Nigercity:
Pls... Dose anyone knows exactly when to enter the market, am tired of hiting sL before they market start going back to my predict direction and tp

abham:
well, $5k is the least amount for a demo account with O.c.t.a.f.x

GabsonFX:
I only answered your question as is.
Not all traders will have to switch to lower TF to confirm entries.
The answer to your question is position traders aka long term traders, and not learner as you said.
Same with position traders, they take trades only on Weekly and/or Monthly TF and don't have to check lower TF. Position traders take only few trades a whole year, 5 to 12 ish, and that's it. This is what the big big boys in this business do.

Think about it, why would I trade on Monthly TF (20 × 24HRS = 480HRS) and be bothered about what H1 TF is doing, compare the 480hrs to 1hr......who does that?

I'm a swing trader just next to a position trader, and I plan to have just one account dedicated for position trading in the near future.

See the attached screenshot I found for your question too.

exmaysn12000:


I will recommend, not more than 1% of capital

abham:
Hehe, I’ll look into this as it’s my initial plan.

VeeVeeMyLuv:
yea I know u are correct all the same,

Though the difference here is the capital. The usual disclaimer for position trading is for them to have huge capital to play with otherwise sorry will be their name. because come to think of it, most of the time price usually swings in range, and then trend for brief moments.

Skanas:


When opening your demo acc in Octafx, click on the balance colume with $5000, wipe it and input whatever amount you feel you will be starting your live account with(l suggest $100)...also in the leverage column, wipe that 1:500 and input what you will be using when you go live (I suggest 1:200)....that way your demo trading will look very realistic...
#my2cents