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  1. #1
    Junior Member dommech's Avatar

    Dominique Got some backgrond in technical analysis FX and wanna learn BO :-) !!!

    Hello!

    Dominique here 35 years lives in Sweden.
    I'm been trading fx back and forth for the past 10 years (blown 3 accounts) the last time it went pretty well but I had to close down the account because of a realestate business i was starting.
    I traded long term, did analysis on the Daily and Weekly charts (minimum account is 5k)

    Now i'm interested in BO mostly because you can start off with a small account and build it up from the bottom.

    If you have any tips, please share them :-)

    I'm looking for a trade spreadsheet for money management, anyone know a good one to start with?

  2. Thanks Kolyo thanked this post
  3. #2
    Moderator Kolyo's Avatar
    Hey, welcome to CommuniTraders Dominique!

    Many traders use spreadsheets and we had such somewhere here in the past. It will be best if you build it on your own with date, time, instrument, duration, trade size and so on! Keep risk under control and if you are good you can compound your account very fast. If you have any questions let us know
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  4. #3
    Veteran Member Dan21's Avatar
    Hi! Welcome to BOTS!
    Well, you obviously have some experience already. What broker are you trading with?
    If you're a long term trader than I'm sure you'll do fine. Most people start off with 60s and other short time frames which is basically gambling. Follow the ideas you'll find here and you'll improve a lot. You can also check the School. It's for beginners, but still, there is always the possibility that you've missed something along the way. Good luck!

  5. #4
    Legendry Member willyw's Avatar
    HI Dominique, welcome to BOTS. Since you have experience trading forex it will not be difficult for you to trade BO.
    Willy Twitter: Hidden Content

  6. #5
    Legendry Member Okane's Avatar
    Hey welcome!
    It's good that you analyze your mistakes first and see what wrongs you did that led to blown accounts.
    Also take notes on what you have learned.
    I would recommend you go through our school section here:
    http://www.binaryoptionsthatsuck.com/school/
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  7. #6
    Legendry Member milos's Avatar
    Hello Dominuque!

    Welcome to Communitraders!

    It is well known my risk management trading policy 2% risk management.

    $500 deposited account use $10 per trade=$500x0.02=$10

    $1000 deposited account use $20 per trade=$1000x0.02=$20

    $2000 deposited account use $40 per trade=$2000x0.02=$40

    $5000 deposited account use $100 per trade=$5000x0.02=$100

  8. Thanks dommech thanked this post
  9. #7
    Legendry Member Michael Hodges's Avatar
    Welcome aboard mate! let us know how we can be of help!

  10. Thanks dommech thanked this post
  11. #8
    Junior Member dommech's Avatar
    Thank you I will use 0.5% then gradually move up to a maximum of 2% based on my win ratio, thank you for your feedback!

  12. #9
    Junior Member dommech's Avatar
    Quote Originally Posted by Dan21 View Post
    Hi! Welcome to BOTS!
    Well, you obviously have some experience already. What broker are you trading with?
    If you're a long term trader than I'm sure you'll do fine. Most people start off with 60s and other short time frames which is basically gambling. Follow the ideas you'll find here and you'll improve a lot. You can also check the School. It's for beginners, but still, there is always the possibility that you've missed something along the way. Good luck!
    When trading FX and stocks I used FXCM and IG index.

    With BO I played around with gogooption.com (BTC broker) and IG without any larger sucesses.
    I started with 60sek but they are too stressful and had better luck with 15-60min BO's

    I'would love to limit my tradinghours 1-2h/day maximum I'm not so interested in daytrading, it's too stressful in the long run.

    Lack of discipline and trying to win back losses was the cause of blowing accounts.

  13. #10
    Legendry Member Michael Hodges's Avatar
    this is a hard concept for some traders to grasp but it is better to think like this "I'm going to watch the market until the conditions are right and then I'm going to trade using my rules/system" than it is to think like this "I'm going to trade 2 hours everyday using my system/rules", because conditions may not be right for trading every day,

    in terms of multiple time frame analysis it may take some time for a good signal to appear on the longer term chart, and then when one does come you move down to the lower time frame and do some day trading on that day. Under those conditions it wouldn't matter if you traded 2 hours or all day so long as the conditions were right... and then the other days you just go about your business as usual contentedly knowing you don't trade on bad/losing days and make a shit-ton of cash trading on good/winning days.

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