hi i am a noob who has delighted his broker/trading platform/whatever you want to call it by managing to seemingly blow £500ish on spreadbetting cable.
i was introduced to mt4 by a friend and decided that i wanted a slice of the action and wanted to quit the rat race spend more time with the family etc better standard of living blahblahblah.
"Buy on the blue arrow sell on the red" Simple
£500 later having tanked out 3 times now i have come to the conclusion that i know jack!!
there is a pattern and it is loss, loss, loss, small win, loss, loss, loss, small win etc general trend is loosing money.
several questions to all the experienced traders/gods
1)Does a 20pip take profit and 60pip stop mean a 3:1 ratio in my favor? logic states it is 3 times more likely to move in my favor! yet i still sink like the titanic
2)what is a suitable s.loss 30? 60? 100 pips? i am happy to take 20-30 pips a trade per day at £1 per pip
3)why is it that each time i put a bet on the market jumps 20 odd points in the wrong direction?
4)is £300 enough to start spreadbetting again?
your thoughts and comments please
yes i have done babypips school.
i was introduced to mt4 by a friend and decided that i wanted a slice of the action and wanted to quit the rat race spend more time with the family etc better standard of living blahblahblah.
"Buy on the blue arrow sell on the red" Simple
£500 later having tanked out 3 times now i have come to the conclusion that i know jack!!
there is a pattern and it is loss, loss, loss, small win, loss, loss, loss, small win etc general trend is loosing money.
several questions to all the experienced traders/gods
1)Does a 20pip take profit and 60pip stop mean a 3:1 ratio in my favor? logic states it is 3 times more likely to move in my favor! yet i still sink like the titanic
2)what is a suitable s.loss 30? 60? 100 pips? i am happy to take 20-30 pips a trade per day at £1 per pip
3)why is it that each time i put a bet on the market jumps 20 odd points in the wrong direction?
4)is £300 enough to start spreadbetting again?
your thoughts and comments please
yes i have done babypips school.