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Silver Level

 
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charlesqueeman

Silver Level

Greetings to all.

I finally reached silver level. Which strategies do you recommend to help me overcome this level?

Thanks and success,

Charles Queeman

Sat, 08/17/2019 - 6:35am
 
Leo in Huronia

Hello Charles,

To start with, what strategies are you using right now? What time frames do you trade? What do you look for in a trade setup?

Answer those for yourself (not me), and you have a place to start. If you end up with a kind of 'I don't really know' answer, don't feel bad about it - when I reached Silver 1 I really didn't know either. For sure, I really did not have any kind of well defined and working strategy. I probably thought I did, but I know now that I really didn't.

If you are not using the daily, the 4 hour or the hourly charts, start looking at them. Some of your objectives over the next while will depend on you learning to analyze things in the larger time frames. You don't absolutely have to, but your life will be easier if you do. What you want to do is start winning trades reliably, and consistently making profit. To do that, find out where your niche is, your type of trade or market that works for you. All you need is one, then you develop it until you have that one reliable tool that consistently makes you some profit.

Learn what types of setups appeal to you. It may be from simple familiarity, or maybe you had some nice wins using them. Study posts on the forum and absorb the information. Take an idea that appeals to you and try it out, see if it works. You will probably make your own adjustments and tweaks (I think just about everyone does), but you will find out if it works by trying it and studying the results. Keep track of what you do. Write it down. Nothing complicated, just keep it simple. And (this is important) try out your experiments in your practice account first, it will probably be less painful that way... You probably already know this, but a reminder never hurts.

I just arrived in Silver 3 last week, so I'm no expert. There are some on the Forum here that are very knowledgeable and yes, they truly are experts. What I will tell you about Silver 1 and 2 is that I learned more about trading in the last 2 levels than I have in the last 2 years. My comfort levels got kicked down the street and back again, I and had to adapt and learn. Yes, my ego got badly bruised (and it hurt), but I learned a lot more about trading in the process.

These levels we are in are learning environments. You can race through them, or you can use them to your advantage to learn, adapt, and work your way to becoming a good trader. What you get out of them will depend largely on what you put into them.

What I gave you here is maybe not what you were after, but I don't know anything about you or your trading abilities. They are just good general guidelines, and I have kept Silver 1 and 2 in mind. I've learned a great deal from browsing the Forum and studying whatever I can get my hands on.

I'm a bit hesitant about posting this for you because I'm NOT an expert, and I don't really feel qualified to give out advice on trading, but so far no one has answered your post - so I did.

I hope this does help, so good luck, and good trading!

 
charlesqueeman

Hi Leo,
Thanks for your answers and sharing your experience, they will be very helpful for me.

 
remarket99

Just made it to Silver II and not sure what is meant by "no inter-trade loss potential greater than 3 or 4 pips" in the 3rd & 4th Down Conversion achievement tests.