You are able to OVER study. You need to take a RestOriginally Posted by ;
By no means am I an expert. But I could tell you things I wish I knew when I first started out.
1) Have down some rules. Plain and simple. If you do not have some rules about trading set down, you are not trading. You're just fucking around. A misconception is these trading rules will never lose you trades. This is wrong. These rules are in place since over time you learned that you simply lost less trades due to these rules. After significant time trading with rules, you cant tweak and adjust these rules.
Examples: Check stochastic indior before setting a trade: over 50 - market, beloew 50 - buy. No trading when mentally unbalanced. Set breakeven stop loss at X pips. Do not trade during news events. Do not chase missed trades. Wait for confirmation. (by no means are these my rules, only examples)
2) Have a method of trading. If you do not have one, find a person. This is very similar to having rules, but different. This is defining what you're looking for when you are trading. The error about this particular point is this really is actually the I regret the most about learning. 99 percent of people do this when they first begin learning how to exchange : They find a method, the machine appears great, some small backtesting suggests it works, and it's even traded dwell. Then 1 day it doesn't work. Most systems out there get the job done. You as a trader have to put in time in figuring out the machine to make it work. I really don't mean following the rules of the machine (which is tough enough as it is), but learning how the system behaves. What does the system look like when market is trending and chopping? Do I take a trade? If I wait for a retracement, confirmation, bounce, etc? A lot of people advoe trading naked. These are people who've most likely tried a million systems and given up due to a false sign. Most likely, they are not paying attention to price action when they receive signals. Trading system indies do not signify winning trades. They signify high probability trades.
3) Journal. Document everything. Take screenshots of you are trades as you take them after you take them. Write down your ideas and analysis on the trade. Document your plogy. Look at your trading statistics.
4) Discipline. Practice trading meaningfully. Be professional about your trading. I really do believe the time and effort that you put into trading is going to be rewarded. However, that doesn't mean that you can not simply click on the buy/sell buttons and a year later you will be a millionaire. You have to research, develop, and enhance.
5) Think for yourself. Einstein himself put forth the Theory of Relativity and other ideas simply by daydreaming. Think about something that you want to see or do in trading. Suppose... Then examine it. Do not be discouraged by what other men and women say you can or can not perform in trading. Case in point: Anything under the 1 Hour time frame is merely noise. 20 percent a month is the limit on attainable roi. ___ indior/system can not get the job done.
As you can see, I composed a bargain on number 2. I can not stress that one enough. I would've saved myself 2-3 months of learning if I took those words to heart. Good fortune to you.
1 Attachment(s) https://forexintuitive.com/forex-tra...e-journal.html
Oops. Got carried away there. I didn't read trade system. I saw EA.
This is not exactly what I trade with precisely, but it's close and simpler.
Gestuntsey's Super Secret Special Triple EMA System
Tools:
3 Exponential Moving Averages (EMA): 13, 26, and 89
MACD (12,26,9)
RSI (14)
Rules:
Buy when RSI is below 70 / 13 EMA is over 26 EMA, and 26 EMA is over 89 EMA
Economy when RSI is over 30 / 13 EMA is below 26 EMA, and 26 EMA is below 89 EMA
Exit when MACD signal line flattens out. (ie exit longs when MACD signal line flattens from positive to negative slope, leave shorts when MACD signal line flattens from negative to positive)
There's really many nuances to this system which aren't mentioned. This system has a lot of potential when combined with price action.
Bonus Hints:
-pay attention to MACD histogram and indie line
-observe EMAs how they expand and burst
-fashion is your friend
It's okay. No problem. However, how much profit you can make by guide trading.Originally Posted by ;
And what is the trading egy you have . Please discuss more about honestly
To guarantee successful trading life with consistency very hard and a very long time process by manual trading. So generally traders lost interest to maintain great patience. But it's a component of trading that is authentic. By employing automated trading platform you can be profitable really few occasions but not for all time. Its practical.
Want to upgrade on my trade so far.
I have tried several more EAs but still couldn't find one which have more than 3 decades consistently great results.
Hope to get a nice one.
But can I request expert traders for your mercy to share some EAs that's capable to generate profit with low/controllable risk, appropriate for new trader to start.Originally Posted by ;
But can I request scientists for your mercy to build a time machine, I am not asking much as I am just a beginner moment traveler, so just two days in the past to start could be great.
But can I request all expert traders to your mercy to share some EAs that's able to generate profit with low/controllable risk, appropriate for new trader to get started.
Forget looking for an EA to do the work for you. If profitable trading was that easy...
Build your own egy. Then you'll know it works, you'll understand why it works, and you'll have the required confidence in it.
The only other advice I can give is to let your profits run, but reduce your losses.