I have no clue how long Iandekoker (spelling?) has been trading, though I am under the assumption that he has yet to have -9000 pip drawdowns, perhaps once this occurs he will decide to start exiting trades? Again, this drawdown does not appeal to me. Though I still agree with the sound money management, discipline and trend following that certainly has to be applied to trade this way. When the great unwinding occurs on the JPY pairs, perhaps he will be around to report how he trades them. [/quote]
I have been trading live for 4 months now, before that i tried demo for 6 months. So that would make me a newby i suppose, always eager to learn from people who has something worth learning from like Dirk du Toit (Dr. forex) and my mentor Rene Hedley.
Currently i have 10 trades open, each of them can take a 5 000 plus pips swing against me. Currently the market is less than 500 pips against each of my trades. All those open trades together is not even 10% of my account so far. So i have more than enough room to manouvre thanks to my gearing of only 1:7.
Sorry but i dont trade JPY. It's just too wild currency for me even though i think it is a very undervalued currency right now. I only trade GBP/USD and EUR/USD and on daily charts and nothing else. They suite my personality and way of trading better
ps....i do have 2 questions about the 9000 pip downdrown u were talking to
1. Why would someone have a 9000 pip drawdown on EUR/USD if since trading started there has only been a 5900 pip range in the history of this currency pair if i am correct. The lowest = 0.84. The highest = 1.43. Please correct me if i am wrong? (So you might have a 5900 drawdown if u went short in julie 2001 and are still holding ur position. But then again that person might also need a pair of new glasses cause he read his trend wrong)
2. Why wud someone have a 9000 pips drawdown on EUR/USD if u trade with the trend which happens to be an uptrend since middle 2001. Yes the market might retrace a few hundrend pips but those are all seen good buy oppertunities.
I have been trading live for 4 months now, before that i tried demo for 6 months. So that would make me a newby i suppose, always eager to learn from people who has something worth learning from like Dirk du Toit (Dr. forex) and my mentor Rene Hedley.
Currently i have 10 trades open, each of them can take a 5 000 plus pips swing against me. Currently the market is less than 500 pips against each of my trades. All those open trades together is not even 10% of my account so far. So i have more than enough room to manouvre thanks to my gearing of only 1:7.
Sorry but i dont trade JPY. It's just too wild currency for me even though i think it is a very undervalued currency right now. I only trade GBP/USD and EUR/USD and on daily charts and nothing else. They suite my personality and way of trading better
ps....i do have 2 questions about the 9000 pip downdrown u were talking to
1. Why would someone have a 9000 pip drawdown on EUR/USD if since trading started there has only been a 5900 pip range in the history of this currency pair if i am correct. The lowest = 0.84. The highest = 1.43. Please correct me if i am wrong? (So you might have a 5900 drawdown if u went short in julie 2001 and are still holding ur position. But then again that person might also need a pair of new glasses cause he read his trend wrong)
2. Why wud someone have a 9000 pips drawdown on EUR/USD if u trade with the trend which happens to be an uptrend since middle 2001. Yes the market might retrace a few hundrend pips but those are all seen good buy oppertunities.