Rewind Back 15 Years

closed trade audusd long
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maximumpossiblesuffering said:
Padutrader, have you heard of babypips.com? They are a free forex website that has good information on important news that and economics calendar that affects currency trading. Several of their regular bloggers seem knowledgeable and not that you necessarily need it, but they also have a free extensive knowledge base structured as a training course.
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at the cost of seeming presumptuous there is not much I have not heard off.....but I have had little use for it....I am trying out a strategy using some sort of wave movement....normal classical analysis does not work in 5 min in forex where I want to be.

BTW this is the first day I am trying it out....I noticed some thing over the week end....so perhaps need to give it a few trades to know it.

forex has a unique sort of market movement unlike any other market
 
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.I am trying out a strategy using some sort of wave movement....normal classical analysis does not work in 5 min in forex where I want to be.

BTW this is the first day I am trying it out....I noticed some thing over the week end....so perhaps need to give it a few trades to know it.

forex has a unique sort of market movement unlike any other market
 
maximumpossiblesuffering said:
Padutrader, have you heard of babypips.com? They are a free forex website that has good information on important news that and economics calendar that affects currency trading. Several of their regular bloggers seem knowledgeable and not that you necessarily need it, but they also have a free extensive knowledge base structured as a training course.
More...
Good idea!
Padu will be able to hand out trading advice to those guys.
 
padutrader said:
at the cost of seeming presumptuous there is not much I have not heard off.....but I have had little use for it....I am trying out a strategy using some sort of wave movement....normal classical analysis does not work in 5 min in forex where I want to be
More...

At the cost of seeming mean, please consider blowing up an account is a trader emergency, kind of like a doctor losing a patient. The deposit in your account died. From a trading perspective you have an obligation not just internalize the cause of death of your deposit, but to avoid those situations that could put your account at risk. You are trading a five minute time frame but blew up when a scheduled overnight event did not turn out as expected? Were you aware there was a important election in Australia? Are you handicapping overnight events or are looking to exploit 5 minute wave structure? Be clear in your mind what you want to accomplish.

It seems to me, you have significant trading skill, but are handicapping yourself by not having a logically consistent trading plan that protects your capital.

I don’t know what your trading goals are, but if winning and developing a good trading track record are a part of that, take protection of capital seriously.
 
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