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prax
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Everything posted by prax
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What’s Your Opinion on the System?
prax replied to sourcecodefx's topic in Trading Products and Services
checking your myfxbook link, seem it stop trade, no more updated trading result. is the account didnt survive ? ? -
you have to spesific your question by adding manual trade backtesting. many people would think, it's an EA backesting. for ea backtest you can start with strategy teste on metatrader. for backtest manu trading plan, i use a script on my Armada Markets platform called "LFH trading simulator" it's a simulator for your manual trading strategies. check attachment for the file. armada markets_Trading_Simulator.zip
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How Long Does It Take to Make $5000/Mo Consistent Profit?
prax replied to cowcool's topic in Beginners Forum
2 years, if you done everything right, 5-10% are reachable. the psychology is the key and tricky part of any manual trading. often most expert said need 80% of psychology trade, and 20% of analysis. dont buy it, i do mean it. fact is no one would ever achieve a constant mental state while trading, and required to have such mental state for each trade, each day, every month! unless you're buddha dont ever think a bout it. what we can do is, develop a trading strategy, a system would good enough to replace 80% psychological needs, trading plan consist 80% pure analysis, and let 20% on psychological so we can trade always at ease. -
leverage it's more like a loan from your brokers, makes your deposit would worth higher than initial amount, i used 1:500 on my Armada markets account means, my deposit are worth 500x times, and can made any transaction equal to 500x, have the same potential but also a risk. here's a simple video brief how forex trading works, move to 1:06 explanation.hope this would help.
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off course you can use it. but it's an old thread, there's a chance this indicator wouldn't works well with new mt4 build.
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babypips for new trader, fpa also provide 'military' based school . traderslaboratory are have many great articles, found more interactive one. investopedia, forexfactory are also nice place to start.
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i would prefer a fixed pips stop loss. a low pips, 20-30 pips stop loss. stop by volatile didnt really works with me, sometimes it's not easy to close negative pips at large amount, it would lead to unmanage emotion state, some traders refuse to stop their losing trader and put average order for safety, but the fact are the entry trade still overall negative.
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Step 1: Identify the candlestick 'patterns' or 'formations'
prax replied to brownsfan019's topic in The Candlestick Corner
candlestick pattern image seem missing. redirect to stockchart website http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:candlestick_pattern_ but end up with 404: Page Not Found We're sorry but we were not able to find the page you are looking for. You may have clicked an outdated link or you may have typed the address (URL) incorrectly. You might find the information you are looking for in one of these areas: please fix it. thank you. -
you're welcome. don get mislead what others said, do the math, numbers tell no lies.
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60-70% RR : vary, but average 1:1, bust at proper market condition, i could go over 6:1 DD, 20-30%, for the last years, develop and enhanced to reduce below 10%
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perhaps he just mistype the spread, as far i know ECN brokers gives a low spread, some major charged below 1 pips but in return the demand a commision fee per transaction. an average 0.2 pips EURUSD spread on my armada market ECN account. and how to decide which are much profitable ECN or Market maker. basicly ECN are condition where trader order are againts another traders, it's a trader vs trader, and this where liquidity provider took part as price bridge among firm. okay.. how this profitable ECN. i'm now with armada markets, 0.3 spread on eurusd, 0.7 in total charged per trade including commision. suppose i had market maker account, with 3 pips eurusd spread. because my trading style are scalpers, i executed 200 trades monthly. and my monthly fee based on spread : on ECN armada markets account would be - 0.7 x 200 = - 140 pips charged. as at the market maker broker account : 3 x 200 = - 600 pips charged. anyone still arguing, or had wasted time to compare such broker type, should check their own pocket, if you're value your money starting with value your account for each transaction.
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thre's a tons out there, a broker which gladly to have an IB agent. but be more specific what kind of broker you need ?
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I open an account with armada markets is one of ECN broker, the broker has a speed of execution and low spreads are I needed to do scalping . this is usually the main thing when I decide to choose the right broker for scalping. this method is very suitable for me to apply in this broker because this broker provide me the spreads as low as 0,3 pips on eurusd, no requotes, positive slippage. any trading style are allowed, scalp, news trading, spike trading, EA also fully allowed.
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go check on commodity as silver gold and oil. as for currency better check out eurjpy
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scalp is one trading strategies which targeting for small amount pips. from 5-10, it's a simply fast exit strategies, mostly used on market volatility.
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perhaps when i read this post 4 years ago i will gladly discuss it. on that day trading are bit rough, market maker broker everywhere, 4 digit type, high spread. oftenly use MA as lagging and fibo for leading. but now i moved on armada markets ecn broker type with low spread, fast execution, and for past 2 years been trade by price action only, because this kind of strategies are fully applied on ecn broker.
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you have to spesific your question by adding manual trade backtesting. many people would think, it's an EA backesting. i have a script on my armada markets platform called "LFH trading simulator" it's a simulator for your manual trading strategies. check attachment for the file armada markets_Trading_Simulator.zip
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it's all about point of view. market price form a pattern, and how to define thus pattern we need a tool to get a more easy understanding. indicator simply alert when to entry, or to exit transaction. could be based on chart pattern, volatility rate, or market range.
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hi everyone. i;m evan from indonesia. fx trader... mostly major. glad to saw poll result are mostly with fx trading, i think i came to the right lab.
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hi i;m evan from indonesia, hope i can be more profitable on my trade by joining the labs. will wandering around just now.. take a walk on forums section. thank you all