Forex from scratch --a helping hand from pipshower...

[pipshower]

Yah...I am in the MT4(you are true...nice for charting) itself but seen the type of quote in many forex site...so cropped from Oanda...

Haribird.

Ohh.. I see ..sorry for not understanding what you meant.

If you dont mind may i ask you some personal questions?
Just out of curiosity ..
Whats your age?
Where in India are you from?
How long are you trading stocks?

If you feel that i am getting to personal please forgive me and if you want to share but not here you can always contact me on my skype id which is ........

Pardon me if i am troubling you asking this ...
Just curious ..

Regards
Pipshower

 

[TFL]

Ohh.. I see ..sorry for not understanding what you meant.

If you dont mind may i ask you some personal questions?
Just out of curiosity ..
Whats your age?
Where in India are you from?
How long are you trading stocks?

If you feel that i am getting to personal please forgive me and if you want to share but not here you can always contact me on my yahoo or skype id which is Pipshower

Pardon me if i am troubling you asking this ...
Just curious ..

Regards
Pipshower

Will be contacting you tomorrow...pips...

Haribird

 

[hbkhrushikesh]

Hello Hrishikesh,
What you are doing is exactly what the big traders in forex do . You are trading forex that way to get the profits is what we do using brokers . What you are doing is exactly the origin of forex for profit was and you use your bank as broker since you use that to send the money to and from the GBP to INR .
You are on right path but try to understand and grab right opportunity to exchange studying charts to add on to your profits!

Regards
Pipshower

Hi Pipshower,
I want to trade in forex...... it is inevitable to me to study the ups and downs of forex as I end up travelling a lot. I have however been a lil crass abt this.... and all my profits ( a few minor losses) have been more of a chance rather then good trading.

I want to study forex using charts. Whats the resource that you would suggest to me? Can I buy forex just the way I buy stocks? My broker is ICICIdirect. Is forex studied the same way as stocks? I mean are the principles similar? to put it more directly, wud the principles from 'teach a man to fish'- Saint apply to forex as well?

 

[robin000]

Hello Pipshower, I really appreciate your help, one more thing, how much leverage we should use intraday?
Thnx..

 

[TFL]

Pipshower,

I am trying to backtest with pivots and RSI in daily charts.
The strategy is a modified version of Saint's 60m flow in traderji.
Some sort of trend trading...in daily charts.

What's you comment over it?

Also waiting to learn the strategy you are using...It will be helping me.

Haribird.

 

[ag_fx]

Pipshower,

I am trying to backtest with pivots and RSI in daily charts.
The strategy is a modified version of Saint's 60m flow in traderji.
Some sort of trend trading...in daily charts.

What's you comment over it?

Also waiting to learn the strategy you are using...It will be helping me.

Haribird.

I tried doung that once haribird,
cudnt succeed with much results. The reason i figured out was that I was using a 5 min chart and because of high volatility of Forex, whipsaws were way too high.
It would be great if you can post your results and time frames...Even I would like to work on the same.

Ankit

 

[TFL]

I tried doung that once haribird,
cudnt succeed with much results. The reason i figured out was that I was using a 5 min chart and because of high volatility of Forex, whipsaws were way too high.
It would be great if you can post your results and time frames...Even I would like to work on the same.

Ankit

5min chart? It will not even work in Nifty.
Hourly is too difficult to do with...I am trying in 4H/daily and this is not purely the flow method of Saint...I just grabbed some points from it and is experimenting various things to develop a trading plan.
I will post result after 3 or 4 weeks of testing various things...

Haribird.

 

[pipshower]

Happy Holi to everyone!

 

[pipshower]

Hi Pipshower,
I want to trade in forex...... it is inevitable to me to study the ups and downs of forex as I end up travelling a lot. I have however been a lil crass abt this.... and all my profits ( a few minor losses) have been more of a chance rather then good trading.

I want to study forex using charts. Whats the resource that you would suggest to me? Can I buy forex just the way I buy stocks? My broker is ICICIdirect. Is forex studied the same way as stocks? I mean are the principles similar? to put it more directly, wud the principles from 'teach a man to fish'- Saint apply to forex as well?

Hello Hrushikesh,
who says you need lot of time to trade forex?
If you are having an hr or two a week trade weekly charts .
Rather i would advice anyone starting in forex to start from weekly and daily charts .
First test on demo .
When you are successful for at least 4 months on demo go on live trading .

And about understanding forex in detail keep reading this from start .
You can trade forex with any trading method after you practice on demo and have the expected results.
Regards
Pipshower

 

[pipshower]

Hello Pipshower, I really appreciate your help, one more thing, how much leverage we should use intraday?
Thnx..

Leverage?
Friend you must understand leverage is double edged sword
Why worry about leverage ?

Use right money management forgetting leverage.

Say you have an acct with a broker worth $1000
I wont give a damn to leverage. Its out of question.
I will use 1% of acct to trade . so i will only buy or sell a position of $10 only.
Thats it . Never complicate and waste your time thinking of leverage!