DislikedIMHO, AUDUSD likely to re-test 0.9330 and then reverse to 0.9280. Currently, MACD supports the up-move. {image}Ignored
Keep calm and go GREEN...
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DislikedIMHO, AUDUSD likely to re-test 0.9330 and then reverse to 0.9280. Currently, MACD supports the up-move. {image}Ignored
Disliked{quote} hell yea, i want to go LONG from under 0.93, then full throttle to 0.95 again...Ignored
Disliked{quote} Ok cool... I don't use stop losses just to avoid situations like that. (Even though I look like a newbie because of an account here new as of april, I've been at this market since about '03...) IMO - stop losses tell your broker when you're scared out of the market - why give them that intelligence so easily? Margin use at 6% or less makes it REAL hard for you to experience a margin call. Proof? As you have open trades, run a quick calculation: Free Margin / pip value = number of pips to a margin call ...the result has caused me to adopt...Ignored
Disliked{quote} You are exactly right. I do appreciate you sharing your insight, so I'll return with mine. This account I'm running I've had about a year. I come from the stock market / option side of finance (since '07) and am recently new (less than 3 years is new to me) to forex. I've learned exactly what you've said about stop losses. Brokers here are thieves pure and simple, and regularly run stops. I always have a stop in place as I swing trade, and am often not at my computer, however; during news (and weekends) I delete stops < 30 pips out to deal...Ignored
Disliked{quote} good stuff dude. sorry about the loss - I hate losses...I try to keep 'em as tight as I can...I do go through some drawdown at times because of that stance, but, my take on drawdown is it's UNREALIZED profit/loss, it's not ACTUAL until you BUY OR SELL. The tighter margin use makes it much easier to stomach. My method is more predictive than most, so, I have a lot of confidence in my direction choice when I place a trade, and I've let enough winners go to know my system works in this regard. While most traders in FX say, "I'll enter LONG...Ignored
Disliked{quote} Well hey man, you just had your chance... You just had to be really really really quick about it.Ignored
Disliked{quote} Many here have that stance on SL, and it works well for them. I've dabbled with it, but it just doesn't seem to compute with my already preconceived notion of MM from the "normal" stock market. You just have to know when to let them go with your point of view...which for myself is hard. (thus why I use stops religiously). I imagine a lot of that comes with getting the "feel" for your pair too.. A good case of this is a trader by the name xandi that used to trade here. Has a red flag. People praised and praised him while I kept warning him...Ignored
Disliked{quote} Ok cool... I don't use stop losses just to avoid situations like that. (Even though I look like a newbie because of an account here new as of april, I've been at this market since about '03...) IMO - stop losses tell your broker when you're scared out of the market - why give them that intelligence so easily? Margin use at 6% or less makes it REAL hard for you to experience a margin call. Proof? As you have open trades, run a quick calculation: Free Margin / pip value = number of pips to a margin call ...the result has caused me to adopt...Ignored
Disliked{quote} Hey fella's. If I can jump in on this one too. Up to date I have being using SL's and basing my systems on this MM. I learnt my lesson (fear?) from the onset of my trading career. I was scalping in 09 and making pretty good pipage. My MM (small lots) wasn't too bad looking back on it. I opened a position less than 5 pips of that years HH and watched my account wither away. I knew nothing at that stage but it was an interesting lesson and luckily was smart enough not to use the lifes savings for my 1st account . So Va by your statement...Ignored
Disliked{quote} Hey fella's. If I can jump in on this one too. Up to date I have being using SL's and basing my systems on this MM. I learnt my lesson (fear?) from the onset of my trading career. I was scalping in 09 and making pretty good pipage. My MM (small lots) wasn't too bad looking back on it. I opened a position less than 5 pips of that years HH and watched my account wither away. I knew nothing at that stage but it was an interesting lesson and luckily was smart enough not to use the lifes savings for my 1st account . So Va by your statement...Ignored
Disliked{quote} Lucky you. Hedging the same pair would be a dream for me. I'd say you are in an optimal position to employ Va's strategy. Being able to run both a short and long at the same time, while being able to close in whatever order you wish is an EXTREMELY powerful MM tool. You can literally never close in a loss if you employ even a basic understanding of MM.Ignored
Disliked{quote} Protection of principal is key to good money management. At this point, I'm not risking any of my initial capital on trades I take. That has taken about 3 months to do, and it's not a large account. It's bigger than some I've seen and smaller than some I've seen too. There are quite a few here who think that the dollar amount in their trading account is what will dictate their rate of success, but, if they don't know what they're doing, they're asking for bigger trouble is all because of the bigger dollar figures. I restarted trading knowing...Ignored
Disliked{quote} Cheers mate Yes the amount of my trades I see come back into profit after I hit a SL is becoming a real head-scratcher. I was roughly looking over the previous months losses and I couldn't find one trade that didn't come back to profit within a short range and many to original TP. It's just got me thinking. However Just one trade gone wrong could upset the balance. Interesting idea on the distance from margin call. I am pretty happy with profits this year to date but it has given me a bit to think about cheers. GL with it on this...Ignored
DislikedAnother smaller spike just now, what is this madness lol. Not a huge one but seems to only affect auz... Am i missing something? {image}Ignored