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- Andrew's PF replied Mar 8, 2007
Adding to a position simply because it has moved x amount of pips is not a wise approach. Do you put on your initial position that way? Why would you put on another position that way? When adding to a trade, it is a new and separate trade. It has no ...
Real Grail in Money Management
- Andrew's PF replied Mar 7, 2007
Finally, by zooming in this way, you can get a much better entry which really means a smaller stop. If I had entered on the daily, I would have gotten in at around 121.00. By going down, I got in at 121.35. The idea behind the trade was that the ...
What's the benefit of lower time frames?
- Andrew's PF replied Mar 7, 2007
I use multiple time frames to finesse my entry. See the following charts.
What's the benefit of lower time frames?
- Andrew's PF replied Mar 6, 2007
Like everyone says, open a small micro-account with Oanda. However, don't put too much in it. Let's say you have $1,000 you can afford to lose. At first only put in $100. Lose the $100. Put in another $100. Lose that. Put in the next $100 and lose ...
When do you know you ready to go from demo to real trading?
- Andrew's PF replied Mar 5, 2007
I'd be willing to bet it was a demo account. It beggars belief that someone trading that much size wouldn't have phone numbers and/or the small amount of intelligence required to a) know at least the country and state/province where the broker is ...
How to lose 250K $ in one day...
- Andrew's PF replied Mar 4, 2007
One can't overstate the importance of this factor. When you're looking at charts everyday, you gotta like what you're looking at.
Doing things the "easy" way = failure?
- Andrew's PF replied Mar 4, 2007
It's not the charting package that's going to make you money. I started 5 years ago with a very expensive package that cost me an upfront fee and $200 a month. Then moved to Intellicharts for a $100 a month because I found they did what I wanted for ...
Doing things the "easy" way = failure?
- Andrew's PF replied Mar 3, 2007
It should be noted that Oanda's maximum leverage to OPEN a trade is 50:1. Once the trade is opened, then the required leverage to maintain said trade is 100:1.
Starting with OANDA and bad leverage from them
- Andrew's PF replied Feb 28, 2007
The NFP is the best example to use. The methods used to collect data on a monthly basis are dodgy, to say the least. But they need to come up with some sort of number, so they do. On a quarterly basis, they're able to contact more people and collect ...
What are 'News Revisions'?
- Andrew's PF replied Feb 27, 2007
Send me an email and I'll send you an Excel spreadsheet that I use. I don't trade crosses, just the majors, but you'll be able to see the calculations that are used. It'll be a simple matter of altering the calculations for the crosses once you ...
Calculating PIP Value
- Andrew's PF replied Feb 27, 2007
RSI works nicely once you get the hang of it.
What is the best indicator for divergences?
- Andrew's PF replied Feb 27, 2007
There's nothing misleading about it. The value of all currencies in forex are calcuated using the USD. And do you know why? Standardization, that's why. A trader in Singapore buying from a trader in NY has to be on the same page to avoid any ...
Calculating PIP Value
- Andrew's PF replied Feb 26, 2007
Correct. But the value doesn't change very much so if you're off a few pips, it's not going to make a huge difference at all. No, it's not. The market doesn't care about your account. All cross pairs pip values are derived by calculating one pair ...
Calculating PIP Value
- Andrew's PF replied Feb 20, 2007
Yes, it's called trend following.
Does a strategy that works for the rest of your life really exist?
- Andrew's PF replied Feb 20, 2007
Last year there was a CTA listed on the AutumnGold site who traded solely forex and had over $3,000,000,000 under management. He charged 1 and 20 and had an annualized roi of around 18%. I'd say he's fairly successful.
Who are the top best Forex traders in world??
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