Matt, reducing your TP by 5% is nothing really, especially when you think of the upside! The percentage difference can always be swallowed up by completing the series - you are always going to have 'excess' money in there (as in you do not go up the ...

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I have been having a bit of an issue with my brain recently, and have been 'trying' some stuff out on my MMR2R account... a bit silly! On top of that, my trading style is on where i usually calculate my SL, and then that gives me my %risk, and i ...

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Hi Andern, Spot on thats what we want to be looking at- so you have the RSI, and i see that you are using a 'trend breakout', so joining the peaks, and the break of that trend line signals a buy or sell... The next job from this is to start running ...

How serious are you about making money in Forex?

going pretty well Matt, well done. I work on the 4hr time frame and it is slow going at the moment...

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Sepak- same as the above. 4hr and above only... There is good reason for this!!! The strategy seems a pretty obvious one- have you read through the bold text above? I don't quite understand your trading rules, as if you are buying when the green ...

How serious are you about making money in Forex?

Earlroy, while there is fundamentally nothing wrong with the strategy, and we are looking for you to develop your own trading strategy, I think you need to go back and read through what and how we are trying to develop the strategies. We are trying ...

How serious are you about making money in Forex?

This is only stage one... this is not a strategy, this is only the START of building the strategy, keep that in mind. Just because you THINK you have a strategy, does not mean that you do... you need to back test this to see if it works (which is ...

How serious are you about making money in Forex?

This is a quick example i have just bashed out inside of about 5 minutes - i have NEVER tried this before.... This is brand new.... Using the OSMA which is something to do with the Moving average... OS....? not to sure (as in cant remember ...

How serious are you about making money in Forex?

Right, first thing to do, is to have a look at the picture here: image Looks a bit messy, but this is only showing you some of the tools we can use for technical analysis... not indicators, but the tools to help us analyse the charts! So everyone ...

How serious are you about making money in Forex?

cool, 3 seems a pretty good number to start with, and if anybody else wants to start, they can jump into it as we go on. - I am going to assume everyone has MT4, and knows how to open charts etc - if not, PM me and i will walk you through it.... I ...

How serious are you about making money in Forex?

OK, i see what you are saying- if your broker does not have fixed spreads, then absolutely the spread widens with volatility and can eat into your profit. I don't trade fundamentals - news days i stay out of the market (such as NFP and heads of ...

How serious are you about making money in Forex?

Not quite sure what you mean by taking the spread as profit.... Gambling is defined by wagering money on an uncertain outcome... In Forex you can never be 100% sure that you will make money on every trade, but over 100 trades you can put the odds in ...

How serious are you about making money in Forex?

TE should show now show, first trade went to break even after hitting 1/2 profit target and then fell away.

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+1 I remember a series of interviews i read about successful traders - maybe market wizards, or something along those lines, and the highly successful ones always said the same thing- the money was not important, they were not trying to make money, ...

Is it possible to become a billionaire trading Forex?

It's great to think big, but not at the expense of thinking of the present. Liquidity is always going to be the major issue as a 'retail' trader. However if you have a couple of millions in the bank, you can start to trade on less leverage (less ...

Is it possible to become a billionaire trading Forex?

Haha, funny thing is, my account is in dollars... so not quite sure why i have put it in GBP... Force of habit! I use two bits - one is a position sizer where you can set risk to reward, and place horizontal line and it trades off that - but it is ...

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Cheers Matt... the TE will be activated once i have my first closed trade - i did have it open for another strategy, although very similar to this, and it did pretty well. I have not traded for the last couple of months, but raring to get back into ...

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I'm liking this quite a lot.... I would say this is more of a parlay system than anything to do with martingale. I originally responded on the R2R thread, without quite understanding it, and my original thought was to start on it - I think that I ...

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Right, Leverage is ONLY the position you are allowed to open. So with a leverage of 100:1, with a $100 account, you would be able to trade with $100,000, and this would give you the ability to trade with 0.01 lots (an equivalent margin of 1%) That ...

Horrible first question on leverage