Recent content by fxmars

Keep it simple in the beginning. For example, use a 200 EMA indicator and price action. If the price is above the 200 EMA then only look for long trades, and wait for some price action trigger an engulfing candle or a pin candle. Simple is always better.

Follow your plan, do not add to a loser, follow the trend, use a stop loss always, accept losses, do not overtrade, only trade when the market is liquid around the open.

Focus on how much of your account you are risking. I do not believe one should risk more than 2% of the account at any time. So if that 2% is all on one trade or spread over several trades is up to you. But it is useful to look at risk in terms of the percentage of the account rather than the...

Renko bars can be a great tool if used correctly. The disadvantage is that the bars are not time-based so you would need to monitor the market to catch new bars. Personally I have used renko bars in conjunction with normal time-based bars to time entries.

As an experienced trader, I would discourage people from EA trading. The only way to become a successful trader is to learn how to read the market by yourself.

Keep it simple in the beginning. Focus on a couple of indicators and price action. The real key to success is experience and screen time.

The safest would be the Aussie pairs, like AUD/USD and AUD/JPY. The GBP pairs are for more experienced traders, They are more volatile.

I prefer indices over gold on the shorter time frames. You get longer and more sustained pushes. But good luck!

Yes, the simple strategy is often the best. Start with MA crossovers with PA.

The difference between trading demo and real account is huge. I would not recommend lingering long on demo, only long enough to learn the platform and your strategy.

Yeah, it depends on your risk appetite and the leverage you can get with your broker. Personally, I do not risk more than max 2% per trade. Normally less than 1%.

What instruments are you trading? The first couple of hours after the open of the different markets normally yields the best trades. So if you are trading GBP/USD for example the best time would be from London Open and 2-3 hours into the session.

And most people who use this method as their trading strategy use 3 time frames in what is known as the code. It involves waiting for a small pull back in the higher time frame and a extreme entry in the lower time frames:)

Re-entries are the most poweful tool in the BBMA strategy. Especially after CSM.