Dislikedvery true shame he didnt work out a equation to warp the markets to my whimIgnored
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Dislikedvery true shame he didnt work out a equation to warp the markets to my whimIgnored
DislikedIf I've learned one thing in this economy over the past 2 years it's this: the apples of widsdom are no longer gonna just fall to your feet. You might have to just shake the tree!!
Thanks for those suggestions. I keep coming accross forexmentor as well. Mixed opinions, but alot of them.Ignored
Dislikedmake sure you adjust it for your leverage at the top. 3 trades to double your risk 20 loosers to anhaliate it. at the bottom you can put in you gain or loss and it will calculate your next number of lots also it will depend what type of account your using Main account = 10 midi= 1 micro =0.1
starting with like $500 of risk and getting 3 correct trades a day for like 20 odd pips do that 10 days on the bounce and see where it gets you!Ignored
Dislikedmay I ask what you mean by "peeps on here will say to use 2% - 5% of your balance but i say dont hold your money in your trading account put your risk cap into it and use it!" ???
one of my downfalls in the past has been that I have been addicted to leveragebut I'd like to hear you elaborate on your philosophy. Thanks in advance!
personally I trained myself as a guide to try not to risk more than 1.5% (although I still do sometimes) and to start with a large enough account size that I am satisfied with a winner (who feels good about winning...Ignored
DislikedMy philosophy revolves around the fact that human nature in forex is often to bite off more than you can chew earlier on therefore getting into a destructive cycle when you have a large ammount of capital in your account can be very costly!
So keep it seperate! I fully respect and appreciate that leverage is a double edge sword and should be closely monitored.
So by only putting say 2% to 5% of your working capital into a trading account you can learn safer and build an account over a shorter timeframe
I might be bucking the general...Ignored
Dislikedyeah I think Peter Bain himself is kind of old news, but they have a guy named Frank Paul who continually puts out high quality material. A bit verbose, but very well thought out and covers market logic in great detail. He has courses in MACD and COT and just released a new one called Forex Blueprint that pretty much covers everything. I give him a thumbs-up
and another one is forexmentorpro.com not to be confused with forexmentor.comIgnored
DislikedYea one of the complaints is that Bain's stuff is not for this new world of trading we are in now. Hoping to get some good stuff for a good price. As of now I'm using my oanda to scalp fibre to pay my monthly credit card bills, but I still just ordered the book you recommended.Ignored
DislikedYea one of the complaints is that Bain's stuff is not for this new world of trading we are in now. Hoping to get some good stuff for a good price. As of now I'm using my oanda to scalp fibre to pay my monthly credit card bills, but I still just ordered the book you recommended.Ignored
DislikedI' be more interested how the ForexLion gets around a 5-7pip spread on the beast, and how he feels about being stereotyped? ...respectfully of course.Ignored
Dislikedafter you read Mark Douglas Trading in the Zone you might change your username to IDontGiveACrapAboutPips -- better psychologyIgnored
Dislikedwell then I'm glad you said that... hey let us know if you do, but... psychologically, the best way to trade is to do it in a way that it doesn't matter if you win or lose. that is the end goal of a professional trader.
of course we all want to make money but in order to do it you have to divorce yourself from the "want" or "need"
it's sort of like in eastern religions, managing your "Kundalini"Ignored
DislikedSooo true. I think that kinda ties in with when a trader goes from demo to live. Just before I went live, I was getting an average of 40 pips per day on demo. That was just trading when the pa crossed the 200sma. I would leave it overnight sometimes and make good gains. I couldn't wait 'til non-farm came in! Live you start looking for reasons you take a loss like "stop-hunting." Weather stop-loss is real or not, to me, when I was on demo 2-4 pips didn't matter if you're closing a 20-50 pip win.Ignored
DislikedHi guys, now that Cameron is prime minister and no more indecision etc can we expect ftse and cable to rally tomorrow?Ignored
DislikedThere is still a lot of indecision as the joint policies have not been published, neither have the postholders.Ignored
DislikedAh right thanks Cloggie, I know the markets don't like indecision! Very volitile at the minute - wish I knew where to get in and more importantly out!Ignored
DislikedDon't put too much emphasis on the fundamentals, they are probably priced in already and entering trades based on that is just guessing, unless they are biggy items like NFP and interest rates.
Buy the rumour and sell the news applies surprisingly in most cases.
Sydney only just opened and we will be threading water until TokyoIgnored
DislikedDon't put too much emphasis on the fundamentals, they are probably priced in already and entering trades based on that is just guessing, unless they are biggy items like NFP and interest rates.
Buy the rumour and sell the news applies surprisingly in most cases.
Sydney only just opened and we will be threading water until TokyoIgnored