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Some of helpfull tips in trading

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Some of helpfull tips in trading

(1) Do not trade while there is high voltablity(It do happens during day some times).

Means spread(difference in ask and bid price) is more than 1-2 pips.

(2) Since when you trade there are two factor causes loss on value of trade

(a) Trade Commission(normally fixed around 0.8 pips) and 

(b) Spread pips. Lesser the better. On popular currency pairs less than 0.5 pips is good.

(3) Scalping is two edge sword. If you get the trend right you can make profitable pips.

Otherwise since SL(Stop Loss) is higher than TP(Take Profit) you lose also heavily.

You have to be very fast in closing lossing trades which is some time not feasible.

(4) During Bronz and Silver Level try to tread every day. Ofcourse be mindfull not be rash and do not blow your account.

(5) Keep lot size close to 0.01 occasionaly you may use 0.02.

(6) Have patient. I have a situation when I was -150 pips beginng of the day on scalping but later with help of schedule 

profitable order ended up with positive account.

(7) Even if you could not recover from loss on that day dose not matter. It happens with everybody.

With start of day(GMT 0:00 hrs.). Pips and account balance of the day is initilized. New day new slate.

Though Profit or Loss affects your account value permanently. 

(8) Loss is ok once in while as long as it is within 1% of account value. Be conservative. Only watch on frequency of losses.

It should not be too often.

(9) With no background of trading it is quite common to lose. For learning curve put comments on each orders. 

(10) See regularly trade history to analyse performance of trade. It will helpful to make changes in strategy of your trading.

(11) Never neglect SL(Stop Loss) to avoid huge losses. Try to use trailing SL. It is usefull to retain some of profits of trade before it closed by TSL.

(12) TSL on schedule order some times do not work in Alveo. It is know issue with Alveo. Once noticed immediately manully move SL and it works.

(13) There is huge amount of training material on Apiary Fund use it to your advantage.

(14) Forum is another source of information how others are doing. You must participate it is good platform for learning and advising.

(15) Last but not least use support line. It is excellent service. I am sweatly surprise it never took more than a minute and zero wait time.

Email service take a while to get reply but use it if required. 


Thu, 01/17/2019 - 7:36am

Nice tips!

On (1) though, widening of spreads is actually caused by low liquidity, not volatility, thought the two can coincide.

For example, spreads widen after NY close before Tokyo open (the maintenance time) because of a lack of participation. Also often before a big news event (before the volatility) because traders all pull their resting orders in anticipation. A volatile news event could possibly have wider spreads as market becomes very one sided, no one wants to stand in front of it, hence low liquidity on one side, alternately it can be moving fast but with participants on both sides, so volatile but liquid, hence normal spreads.

(2a) Apiary commission is actually 0.4 of a pip, so pretty good.

(3) With you there, and I think its important to add that if people want to trade a very poor R, like couple of pips TP, they ensure when working out if they have an edge, they don't focus on the TP but the TP - commissions, (e.g. profit is not 2 pips but 1.6 pips, and loss is not 10 pips but 10.4 pips), this has a very big impact on these type of strategies.

(8) I think this gives the impression losses are not normal, and should be infrequent. This is not the case, it is perfectly normal to see 55-40 losses per 100 trades (55-60% strike rate) and still make plenty. Its nice to have a very high win rate, but not at the expense of expectancy (a high strike rate can have a lower expectancy if you cut winners and run loosers to get it).

Only traders who insist of taking very small profits against bigger looses have to maintain that very high strike rate with few losses as their expectancy hangs on a knife edge, where one trade here or there can flip it.