I’ve gotten a lot of questions like “do you offer training?” or “can you help me with…” or “I like how you trade, can you tell me…”. While I don’t offer any paid training classes or anything like that I’m going to be putting up a series of training modules here that will step by step take the beginner to advanced trader through the PipHut way of trading.
As always I don’t claim to be the end all be all of currency trading and this is just my way of doing things. I always recommend you get as many viewpoints as possible, develop your own techniques and practice them every day on a demo account before ever doing any live trading!
If you have any suggestions or comments feel free to add your comment or question at the bottom of any page!
Forex Training Articles (click to view):
Lesson 1 – Money Management
Lesson 2 – Support and Resistance
Lesson 3 – High probability trading
Lesson 4 – leave your comment at the bottom for what you think Lesson 4 should be!
elliot wave theory
Nice swing today long at 1.2735
Lesson no 4 – Fibo
fibonacci
WONDERFULL BLOG..thank ur information….
I am a newbie. What technicals do you use to determine where the pros or smart monies will be looking to trade on a daily basis? I don’t know what’s going wrong with my trading; I have been trying so hard but I am still ending up losing all my monies. I guess I keep letting emotions get in the way and then I suffer great big losses and then I end up with no money to trade with. For example, my last attempt: I opened account with $5,000 and after the first 4-5 trades I got myself into a bad trade that I let go to a negative -3,800 (I had a buy originally and it went against me (appprox. $600 before I decided to hedge it by buying a sell order) and I kept getting into sells to hedge and getting out of them – some profits and some losses- but at the end of the day I had more losses and I then got kicked out of my original order because I didn’t have enough margin level. I ended up with just $1,295 left. I don’t know if I am not succeeding because I didn’t have a stop loss set or if all together my trading plan is wrong. I trade EUR/USD only with exit/entry signals of using the moving average crosses- 5 EMA and 10 EMA, macd, RSI-14 and SAR at the same time on 1 minute charts (I have been told that I should probably use the 30 minute chart) and I target 10 pips to take profit and I have not been setting any stop loss but just look at the trade and if goes against me to a certain point I either get out with approx $120 loss or go in and buy the opposite order to hedge which usually get me in more trouble as described above. Per my plan, I am suppose to have stop losses set at 30 pips and take profits up to once the tech indicators reverse.
So reading this do you think that there is something wrong with my plan (give me any advice to make it a better plan) or do you think what’s really wrong is that I am not following the plan which is causing me to lose all my money and having no stop losses is causing me to trade emotionally. Can you suggest to me as a new trader a good simple trading plan that I could use to profit on a daily basis perhaps with just one pair – maybe the EUR/USD since the spread is smaller. Please, Please, Please help me!!! I really do want to trade the Forex for a living but I just need some professional advice to get started. I would appreciate any suggestion as to what I need to do. I can be a very good student.
thanks in advance for your time and attention.
How about using fibonaccis or pivot points for lesson 4? I’m enjoying your site greatly. Thanks for the information!
Thanks for your helpfull
suchard
Lesson 4 should be on Fibonacci. And more than just retracements. Thanks