DislikedThe bolded ones....
You have anything more to support that supposition, or just your bosses says?
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- Joined Jun 2008 | Status: Member | 622 Posts
Life happens at the level of events. Trust only movement. - Adler
Lost in the Tunnel... 591 replies
Has anybody ever lost a scalp... 12 replies
Lost trade history? 3 replies
Most big banks lost in FX 2005, what abt u??? 8 replies
uncommon? 51 trades I never lost 26 replies
DislikedThe bolded ones....
You have anything more to support that supposition, or just your bosses says?
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Disliked???? I trade the hedges for our company. I know the results. The value of our hedging is seen in the Balance Sheets of our Multinational company. Where do you you think the profits come from?Ignored
DislikedIm new in forex. I traded for 6 months using demos, with satisfying results, so i moved to a real micro account.
i opened a micro with fxcm depositing $400. I trade using 5 min candle sticks and a 24 EMA. I take with trend trades, when pa is near the ema, or countertrend trades when i see a double top/bottom. I open 10 lots with 10 pips SL and take what the market gives me (around 10-30 pips).
So today i lost $330. I know its not a big amount but considering my equity was at $480 after 3 weeks of hard work, it was a devastating blow to my psychology....Ignored
DislikedI don't care where your company's profit came from. God can drop it personally upon your bosses laps for all I care.
What I asked is do you know for sure that all small timer like me are out there busting our butts trying to beat long term trader?
Because if it's truly like you said, then none of us here is able to say that "I make my living through forex trading."
Because, judging from your believe, only big guys like your bosses who trade not only long term but also with tons of Benjamin whom can make it. And small timers like us are snack...Ignored
DislikedZen, you need to calm down and get the zen.
I never said that all small traders are losers. If I believed that, I would not be preparing to leave my employment and become a trader for myself.
What i did say is that scalping is a losers game. Short term traders get frightened and react to minor losses and dump their positions.
Unless you are trading from longer term charts, then you have to be a very, very good to beat your opponent who can sit and hold a position for months. All the short term scalping losses from scared traders add up...Ignored
DislikedZen, you need to calm down and get the zen.
I never said that all small traders are losers. If I believed that, I would not be preparing to leave my employment and become a trader for myself.
What i did say is that scalping is a losers game. Short term traders get frightened and react to minor losses and dump their positions.
Unless you are trading from longer term charts, then you have to be a very, very good to beat your opponent who can sit and hold a position for months. All the short term scalping losses from scared traders add up to...Ignored
DislikedI believe that it depends on your definition of scalping. Some people trade for 1-2 pip moves off the tick chart, and some people trade for 10-20 pip moves off a 2-15 minute chart, and both can be considered scalpers.
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DislikedI can not answer that, as that is not how I trade (I trade 10-20 pip moves, typically off the 5-30 minute charts), but I suppose if you trade for a 2 pip move (that's 2 pip profit--above and beyond the spread) and can consistantly do that, you will indeed make a profit. And depending on the number of lots traded, maybe even a very, very good profit.
As far as losses, sure they are the nature of the beast, but I think if you spend more time determining your loss potential than determining how to predict price movement, it becomes a self-fulfilling...Ignored
DislikedZen, you need to calm down and get the zen.
I never said that all small traders are losers. If I believed that, I would not be preparing to leave my employment and become a trader for myself.
What i did say is that scalping is a losers game. Short term traders get frightened and react to minor losses and dump their positions.
Unless you are trading from longer term charts, then you have to be a very, very good to beat your opponent who can sit and hold a position for months. All the short term scalping losses from scared traders add...Ignored
Dislikedsorry to interrupt but i think zarraman is correct, Zen you misunderstood. he is right not everyone are losers, only the one than don't have a plan, and came here to become rich quickly. This takes time, I'm beginning right now, hoping a better future, if I fail, well my full time job awaits for me
Let continue making another guy rich with my knowledge only if I fail... but it won't be easy to give up.Ignored
Dislikedthere is no real opponent you are trading against, because most brokers will take the opposite side of your trade as soon as you place it. So in the end you are just trading the short term moves while others are trading the long term moves. One is generically no better than the other, but is based on operating capital, confidence and basic skill of the individual. For me, it is easier to make the correct call to make 10 pips and be out of the trade usually less than 30 mintes than to make the correct call for a 100 pip move that may take days to...Ignored
Dislikedi am happy to report that my almost blown account has taught me some valuable lessons. Im trading daily graphs and doing fine, im actually up 380 pips. Im not having problem controling myself when trading daily candles, money managemet is next to impossible though with a $80 micro account when using 100 pip SL. I need to open a bigger account soon, but dont know if ill stick with FXCM or not.
Let me clarify something. i know that intraday trading is doable because ive worked with professionals who were doing just that. BUT those people had alot...Ignored
DislikedTrade Like a Dealer by Boris Schlossberg (click)
I've included the chart that demonstrates scaling in. Basically,
you're counter-trend trading the retracement of a daily trend,
because you believe the daily trend will resume shortly. ALSO,
if you enter three trades, the first is the smallest, the second
is bigger, and the third (if you make a third) is bigger still.Ignored
DislikedI've never said i expect to make millions... Nor thousands.
All i want is 50 pips a day. Small steady profits.Ignored
Disliked.......Thanx to however gave me the advice on carry trade roll over positions, i had been doing that, without knowing that big money does that.
BTW i have not disabled my pm.Ignored
DislikedNow my account is down to $80, after trying to trade with 5 min and 15 min candles. I do not use indicators, i do not go counter trend, i simply try to go with trend and take small profits. Problem is that my profitable trades are as many as my unprofitable trades.
So, I guess i should give up intraday trading, small time frames, etc, and stick with what i was successful in the first place, Daily candles.
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