Dan

Newbies stick with low leverage. You don't want to blow up your account. 10:1 leverage you'll say you lost 10% and learned a good lesson in money management when you do something really really stupid. 100:1 leverage you will blow up your entire account for the same lesson Food for thought!

Jose, I only watch the BAT indicator. I admit I don't even have it on half of my charts.

If you trade using the 200 moving average on 15m, 30m and 1h time frames, you might want to put them both on your chart. Even if they are very close together, the price might pierce 200 SMA for example, and bounce off 200 EMA or vice-verse.

I hope this helps

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sharonsopinion

Dan,

Can you say that in layman's terms? To a someone without any forex knowledge, it's like you're speaking a different language. LOL

Thanks,
Sharon

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JoseLeon

Thanks Dan, yes it helps

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"The more I know the people the more I love my dog"

Jude

Hmm, if Dan could start a topic on the same thread on how Leverage work, that'll be good.. *hint*

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Be Good!

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tony_klaten

Same strategy with me. So simple.

I trade on GBP/USD or EUR/UD using NF's meta4 for charts but execute via marketiva, with small account I can trade with longterm chart like daily or even weekly. And there is also no pips limit on limit order & SL.
I also add 62 ema as support/resistance combine with bolinger, rsi, macd, and stochastic.

Wow, a lot of new knowledge I can find here.
Thanks for sharing ibioiz.

JoseLeon

I do the same as you tony because I have not enough money to trade with NF now, and I do it with marketiva (I think there are no other options out there).

If you have few amount of money in NF they don´t let you opening positions with some pairs ("not enough money"). And that´s true: they limit pips on order & SL, but marketiva don´t.

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Dan

It's tough for me to explain in layman's terms

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TickerTapeTrader

Hello Steven,

To answer your questions:

# Do you trade?

Yes, I have been trading for roughly 17 years. I started in Goldman Sachs in the derivatives markets (open outcry). That shows you how ancient I am. I then worked in Morgan Stanley, Dresdner bank and finally Daiwa Bank before going local. I am local today. In other words, self employed.



# What platform do you trade on? Why?

I've used several platforms in my time. I guess you use MT4. What I like about MT4 are the Experts or mechanical trading features. I must suggest that you also need news headline feeds. Bloomberg, Reuters and a few others that tend to sneak out news first.



# What kind of trading?

I guess you can call me a good intraday trader. I prefer fast moving, liquid and volatile markets. I do trade medium term since age has crept up on me. Again the mechanical trading helps counter the age factor. This is a youngs game (or at least it used to be). However, the oldest trader I found lived in New York and gave up trading derivatives at the ripe old age of 70. I could tell you a lot about this man suffice it to say that when he did a European circuit he would go to the most exclusive hotels and throw good parties. Plus, his New York dwellings where like penthouse full of young beautiful women. You may ask what an old man was doing with these women he would pay to educate them to university level.

# How succesful have you been sofar?

I tend to swing. The biggest loss I made can be counted in $100,000's in one day. You'll spot professional traders because they hardly talk about how much the won in a trade. Normally, they talk about much they lost. In this game your not seasoned unless you've taken large losses and recovered. I'll end it there.


## Before I log out I just want to say that I use the alias Bill Rogers. Jude has successfully managed to annoy me with his over zealous moderation. So I might not post here again as much as I like to discuss post trading and market events. I'll think about it.

sharonsopinion

HI "Bill",

Welcome to NN! I do hope you decide to stay. I've read your first 3 posts and you bring a lot of experience and expertise to our forex section. I am clueless when it comes to trading, but I've been able to follow what you write, because you use plain English, instead of forex lingo.

Thank You,
Sharon

P.S. Please consider putting annoyances aside. Can't we all just get along?

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TickerTapeTrader

Well Sharon,

I have to trust my instincts. I just wasted a good half hour putting a post together for newbies. It would have been good advice. Alas, I must have been time out as I lost that post. It went to bit heaven since a login screen appeared instead. I can't be asked to rewrite it. I have to read the omens like the Etruscans did.

Take care.