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Why your broker is your friend and your enemy 4 replies
long USDCAD, to see how long it will last, for fun 10 replies
A Daily Walk Towards Retirement 2 replies
Using a 401K/retirement to fund a forex account 18 replies
$500 Account - Salary + Retirement Plan 16 replies
Disliked{quote} EUR AUD Recovering bad entry. You cannot only look at your drawdown in itself. Win Rate and Risk Factor are very closely related to it as long as you want to make some profit on your account. The Win Rate tells you more or less what could be your longest losing streak, so by multiplying that number by the maximum % you decided to take on each trade, you have your drawdown. Then according to your risk/reward, you know if with the remaining trades you can recover your losses and eventually make some profit. {image}Ignored
Disliked{quote} EUR AUD. Closed all position. Minimised damaged from drawdown. One loss, covered by two win. {image}Ignored
Disliked{quote} I think people find it hard to take a single trade as a loss, but if you're in the plus aggregate, take the profit, its a good skill to have and will become easier the more you do it, just something for others to think aboutIgnored
Disliked{quote} Hi Waveskie. It looks a bit like many are going around in circles and looking at the same thing with different view points. I think most of you will agree that you never get in at the best price. How many times have you taken a position and watched the price go against you and when your stop loss is almost taken out, it reverses to go in your direction. Each negative pip against you makes you more nervous and you dont know whether to hold on or let go of the position. Traders live in an environment of regret and greed. When I mentioned that...Ignored
Disliked{quote} GU After CPI news event. {image} UK: 7% annual rise in the consumer price index (CPI) is the highest in the historic models series since March 1992. Consumer prices rose by 1.1% month-on-month, outstripping expectations for a 0.7% climb in a Reuters poll of economists, which had projected a 6.7% annual increaseIgnored
Disliked1.0 Million Retirement Fund A few people will party like crazy and still have some savings and investments but for the majority, you have to make some sacrifices, don't expect to party thru your 20's and also get early retirement. Like they say "You can’t have your cake and eat it"Ignored