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florentnorroy
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florentnorroy
How long do you test you Manual Strategy before going live?
in
New Traders
Dec 08, 2015 at 08:48
CROforce,By experience (and I am only a beginner), SL and TP needs to be set even before you enter your trade so you avoid surprises.As for testing, I would suggest backtesting your strategy on a demo account. Depending the timeframes that you trade, backtesting at least the past 12 months or until you have a sample of trades of at least 100 trades so you can have a good idea if your strategy is profitable or not. And when I mean profitable, it's not simply to know how often the strategy hits target, but how much pips in the end you make.A strategy could be wrong 7 out of 10 times, but sti...
Low time frame trading vs. High time frame trading.
in
Experienced Traders
Nov 06, 2015 at 12:25
Hi richadi36,I don't think there is a "best" timeframe. It is about how/when you can trade (people can trade during the day, others only have 15-30 minutes per day/week), and then finding a system that fits your availability and trading style.I have personally tried small & high time frame and the longer timeframe (day/week/month) fits me better : I am much more relaxed and stressless when having opened positions and make clearer and more thought of decisions as to when to enter and get out.I know other traders who suceed extremely well trading smaller time frame like 5/15/30...
Honest truth about forex.....
in
New Traders
Oct 29, 2015 at 14:58
Hi kmartyn,You have learned the first of many lessongs that comes with Forex trading. Being a beginner myself (started trading less than a year) I have made the same mistakes than many, blew accounts and started learning.I would like to comment on points 2 and 3 though.2) I'm personnaly not confortable with measuring my SL in terms of %. I mostly trade daily time frame (sometimes weekly or monthly) with a simple system based on Bollinger Band and candlestick pattern. So my stop loss would be located a few pips above/under the candlestick patterns. That makes the target calculation much eas...
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