DislikedThis is a game(gambling) theory, without technical analysis. -used in roulette, it's name: Monte Carlo -Ignored
The Thief of Wall Street
MT4: how to change "EURUSD" to "#EURUSD"? 3 replies
Re: EurUsd short term 15 replies
did oanda just drop its spread for eurusd to 1 pip? 11 replies
EA for multiple lot limit order for EURUSD 0 replies
NFP nice bump up on EURUSD 2 replies
DislikedThis is a game(gambling) theory, without technical analysis. -used in roulette, it's name: Monte Carlo -Ignored
Disliked1. I used to do the same. Then once, risk grew to 30% for a profit target of 1.5%. Asked for help right on this thread, many friends came forward and helped me develop a revised method.
2. Now follow a fixed profit/loss amount. Either one way or the other. I do not change my trades once entered (though enter in 2 to e3 lots, fine-tune the sl and Tp positions, etc).
I need only more than 50% winners with 1:1 risk reward. That alone is a gold mine for me, ........and it is.Ignored
DislikedNo gambling here mate, I would not have entered short at 1.43 if i had not carefully studied PA..The key here is appreciating that leverage is a double edged sword..Once you take that out by low gearing you greatly increase your survival chancesIgnored
DislikedHere is an example of a very simple one i use
Monday bought 1 lot at 1.42 (1:1 stress free gearing)
Tuesday price went against me to 1.41..No panic, added another lot to bring price to around 1.415
Wednesday price turned around in my favor and i collected my profit(1% of my account) on its way to above 1.43
Did something similar on gu and my account is up almost 5% this week
I have taken 1:1 short on eu @ 1.43 and gu @ 1.66 no stop or targetIgnored
DislikedNo gambling here mate, I would not have entered short at 1.43 if i had not carefully studied PA..The key here is appreciating that leverage is a double edged sword..Once you take that out by low gearing you greatly increase your survival chancesIgnored
DislikedIf your analysis gives you a price ceiling (mark) for gradual entries and a TP (either price or profit) then it is safer to use this method. But normally reward does not match the risk in longer term, especially when PA suddenly jumps in one direction with no apparent reason. I lost an account when pa once moved 600 pips in one direction (1.3000 to 1.2400) against my bias, adding positions on every 100 pip down. Then broker increased spread at one point when I was hanging in balance with carefully calculated margin on normal spread.Ignored
DislikedIf your analysis gives you a price ceiling (mark) for gradual entries and a TP (either price or profit) then it is safer to use this method. But normally reward does not match the risk in longer term, especially when PA suddenly jumps in one direction with no apparent reason. I lost an account when pa once moved 600 pips in one direction (1.3000 to 1.2400) against my bias, adding positions on every 100 pip down. Then broker increased spread at one point when I was hanging in balance with carefully calculated margin on normal spread. Wiped me out...Ignored
DislikedTrue that,
for example i will only increase my shorts up to 1.4450(the reason for this level is clear on h4) and i never go past 4:1 gearing(100 pips against this max level representing 4% of my account)...
Most of the time i am able to take my 1% at around 3:1 gearing
Volatility means close stops become wasteful, but when well placed they will preserve capitalIgnored
Disliked1.4267 first TP
P.S. first TP hit. Where's the guy with his 10 lots, 2000 bucks there.Ignored
DislikedVery wise.
This is one major reason for my moving to longer term TFs. I could not find a decent trade during this whole week. Only one decent trade this week, that also closed at BE when PA yesterday suddenly spiked 100 pips down just to hit my sl that were in the basement.Ignored
DislikedI got my ass handed to me one time because some country decided to test fire a missle.( If you remember that) was sometime last year I believe I had not a SL at the time.It was a micro account and I got wiped.Traded for profit all day to blink and see it wiped with accountIgnored