In hoc signo vinces
College Grad Looking to Make as a Trader 61 replies
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Education help? Major and College Qs 5 replies
Dislikedsometimes i wish i lived in europe...these american afternoon sessions are slowwww
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Dislikedhey man, Im thinking a lot of these dudes arent trading live bc the strategies theyre talking about( no stops ) just isnt believable.....trust me if ur trading with your hard earned capital, anyone knows you use stops lol and they arent over 100 pips! unless ur trading what? 1cent, 10 cent per pip?
if it walks like a duck, acts like a duck it probably aint a chicken!Ignored
DislikedI know some professional scalpers that close their trades manually, but I'm sure you know better.Ignored
DislikedWOOWWWWW i have missed a lot and several of you definitely have different types of strategies and obviously put a lot of work into each and every trade.
I like to keep it simple. Be careful with the math on this. The moment you are calculating how you wont get a margin call on large dd's you have to rethink what your spending your time on and why you are on the wrong side of that trade lawl. xD
nice foste. ive been doing much better and making money. almost back up to even. and i was down about 20%. Sqrt(-1) do you trade live?Ignored
DislikedI make entries based on 4h charts, so my trade duration can be anywhere from a few days to a couple weeks( while adding to the position).....like i said ill never let a trade go more than 100 pips against me, therefore my wins are generally 300-400 pips....i dont have fxbook but thanks for telling me about it, i think ill create one.Ignored
DislikedYou make YOUR entries based on 4h charts. Bravo - that doesn't mean that yours is the only way to trade....Ignored
DislikedNo.
Correct. Personally, I use very precise risk management and position sizing rules.
http://www.fileden.com/files/2008/9/...tion_sizer.png
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Disliked1 standard eur/usd lot is $1600 so thats risking over 25% of your account balance on that trade alone with no stop!Ignored
Dislikedwhats that? is that supposed to be your demo acct statement? that doesnt prove anythingIgnored
Dislikedlol. No, it was obviously just a preview of my position sizing/risk management spreadsheet. You claimed that just because I don't use stop loss orders I don't have risk management. I'm telling you you're wrong.
Moving on.Ignored
Dislikedif your trading 1.59 lots with only 5k thats not risk management, thats overleveraging......your using over 25% of your acct balance for a position.....thats a no no.Ignored
DislikedWrong. Look again at the spreadsheet (number of risked pips and pip value, in relation to the balance). I was only risking 5% on the position.
And yes, I do use stops, but they're manual (one bonus I get is that I never have to worry about MM brokers chasing stops). The point is: I never risk more than the % I'm supposed to risk on a position. My approach to Stops/Targets is very fluid and dynamic, it reflects my belief that every moment in the market is unique. It's quite simple, but you fail to understand it because of the way you have been...Ignored
Dislikedif your acct balance is 5k and you are trading 1 standard lot assuming 100:1 lev that lot cost you $1600 you are risking over a quarter of your acctIgnored
DislikedIm here to offer my help to new traders that are willing to learn who dont think they know it all.Ignored
DislikedMy leverage is 50:1. I use Oanda so I don't size my trades in lots but in number of units.
You're wrong again. I'm risking no more than 5% of my account.
lol!
Good luck with your trading.
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Dislikedohh man thats even worse........so ur using over 50% of your account balance on a trade! whoaaa
159k units is 1.59 lots.......my friend you are the one who's wrong....how the hell do you figure ur only using 5% of your account?!Ignored
Disliked*sigh*
159k units = 1.59 lots = $15.9 per pip.
Balance: 5,083
Risk: 15 pips + 1 pip spread = 16 pips
$15.9 per pip * 16 risked pips = $254.4 maximum risk on the trade
$254.4 = 5% of $5,083
Margin Call: I need to lose 118 pips on this trade to get a margin call. This won't happen because I'm only risking 16 pips. Once I lose 16 pips I exit the trade.Ignored
Dislikedwhat dont you understand? you arent using a freaking fixed stop as an exit point! a mental stop IS NOT A STOP or fixed exit point! welcome to the iggy i tried to help you.......but i guess you already know it all.....Ignored
DislikedIf you're exiting at 16 pips with a hard or mental stop, what difference does it make?Ignored