- What is important in a trading system
- What types of alerts do you prefer in indicators?
- How would you prefer to build your Forex career?
its a mix of everything,if u really want consistency,then have to focus on everything.
there are certain pillars which support your skills,so cant miss anyone .
but in my opinion should learn first is to when to enter a trade,and then comes everything after that.
Plan
As someone above said, money management is vital.
Vitor Oliveira: As someone above said, money management is vital.
Definitely- In code
- You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
- Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip)
- Do NOT use TickValue by itself - DeltaPerLot
- You must normalize lots properly and check against min and max.
- You must also check FreeMargin to avoid stop out
- Use a GUI: Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 5
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