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  • #1,127,661
  • Aug 13, 2017 8:29am Aug 13, 2017 8:29am
Quoting Don96
{quote} Do you just ignore people with red diamond, I replied 2 times to you and then a while after you ignored me. You will just look at all the posts of those you ignore anyway Trading is only stressful because you don't make money, that's my conclusion. I love it, I dream about it, sleep on it and wake up with it being the first thing on my mind
He blanked me as well.

Clearly people who need to moan too much don't make money.

What you said is clearly right, but don't let trading eat up your spirit mate.
  • #1,127,662
  • Aug 13, 2017 9:01am Aug 13, 2017 9:01am
Quoting 3Davy
{quote} Thats is the most important indeed. Anything can happen in forex. Cut your losses small.Thats how you become a winner.
It depends on what rules are foisted on you as a trader and that is determined by what country you are in. My strategy would make no sense in other countries where the are no FIFO rules to contend with. Also, with some brokers, if you break margin, they close all your positions. With that in mind, there is, in the US, a natural 25% stop loss required by law. My broker, Forex.com, only takes out the necessary position(s) in order for you to maintain margin. So when that happens (and I hate it when it does) I will reposition the lost pip(s) at a much better level. That is why, at worst, I'll break even but not lose (although I have a little bit). But mostly, it is a winning strategy.

I highly don't recommend this strategy unless you have a broker that increments the loss. Some people can do it manually if they don't have a broker that does it incrementally.

This is very convoluted and will not work in most cases and doesn't make sense if you are not under the FIFO rules. So, I guess... don't listen to me.
Taigen Profit This Month: na
  • #1,127,663
  • Aug 13, 2017 9:44am Aug 13, 2017 9:44am
Since the Eisenhower days of the 50's to now, every US president threatened N Korea but eventually capitulated. Trump responded in like manner but I don't he will capitulate. Europe will eventually realize that N Korea is their problem too. What does this have to do with the EU? The currency pair, in my view, should have retraced but due to the geo-political conflicts, it has not and some think it will go higher before it goes lower. Maybe but eventually it will correct; a correction is long overdue.
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Taigen Profit This Month: na
  • #1,127,664
  • Aug 13, 2017 12:17pm Aug 13, 2017 12:17pm
Quoting Stillearnin
{quote} No, leverage has NOTHING TO DO WITH RISK! You can have 1 million : 1 leverage, 2% risk is 2% risk! Leverage is only there if you want to risk more, that's it! But you don't have to! If people can't help themselves that's another story, they should learn self control! Leverage is not a bad thing and it never was.
I'm sorry but you are completely wrong.

Leverage has EVERYTHING to do with risk. The more leverage you use the more risk you take. This is a fact.

If you risk 2% with leverage then you are FULLY relying on a fixed stop loss at a very specific price. But what if there is no liquidity to fill that stop loss order at that price? What if your stop gets slipped 50 pips because of some totally random unexpected event? If you're leveraged up you are dead. Simple.

If you are trading without leverage then you have FAR less risk in the market. If you stop gets slipped or you are on the wrong end of some random event then your account will be hit but you won't be dead.

Even when the SNB removed their EURCHF floor in 2015 and the markets dropped 40% in 30 seconds, your account would still be alive if you were in a trade without leverage. Even the tiniest leverage in that scenario and your account was gone, plain and simple.

So to be clear, leverage means that you are fully dependent on stop losses which is a fools game, because of the existence of black swan events.

No leverage protects you against these events to a much greater degree. I.e your account will most likely survive.

Thinking that risking 2% is the same with or without leverage demonstrates a MASSIVE lack of understanding of how financial markets work.
  • #1,127,665
  • Aug 13, 2017 12:31pm Aug 13, 2017 12:31pm
I think the leverage should be adjusted to the size of the bill.
And it is also up to the strategy to determine how much of a move we are in. And it also depends on what time frame we trade.
I think.
  • #1,127,666
  • Aug 13, 2017 12:34pm Aug 13, 2017 12:34pm
Quoting fx1986
{quote} I'm sorry but you are completely wrong. Leverage has EVERYTHING to do with risk. The more leverage you use the more risk you take. This is a fact. If you risk 2% with leverage then you are FULLY relying on a fixed stop loss at a very specific price. But what if there is no liquidity to fill that stop loss order at that price? What if your stop gets slipped 50 pips because of some totally random unexpected event? If you're leveraged up you are dead. Simple. If you are trading without leverage then you have FAR less risk in the market. If...
You are completely relying on the idea of a black Swan, slippage... you are a fool
  • #1,127,667
  • Aug 13, 2017 12:48pm Aug 13, 2017 12:48pm
Quoting Don96
{quote} You are completely relying on the idea of a black Swan, slippage... you are a fool
This statement doesn't actually make any grammatical sense
  • #1,127,668
  • Aug 13, 2017 1:01pm Aug 13, 2017 1:01pm
Quoting calebfx
{quote} *And keep losing. There I added that bit for you, because your advise is ridiculous, you want a newbie to listen and trust himself alone? Then how the bleeding fuck does he/she/erm learn? Lol
No he said don't listen to the hundreds of failed traders (such as yourself) that post on these forums everyday. Most of it is incoherent babble from traders that need some sort of justification for there trades. A smart trader learns the basic concept of trading then experiments and tests strategies and indicators themselves, instead of relying/copying the work of a random trader in a forum.
  • #1,127,669
  • Aug 13, 2017 1:13pm Aug 13, 2017 1:13pm
Quoting fx1986
{quote} I'm sorry but you are completely wrong. Leverage has EVERYTHING to do with risk. The more leverage you use the more risk you take. This is a fact. If you risk 2% with leverage then you are FULLY relying on a fixed stop loss at a very specific price. But what if there is no liquidity to fill that stop loss order at that price? What if your stop gets slipped 50 pips because of some totally random unexpected event? If you're leveraged up you are dead. Simple. If you are trading without leverage then you have FAR less risk in the market. If...
You're looking @ loss from a % perspective & not $$$.
If I buy 1 lot of EU my loss will be the same if I use 500:1 leverage or 1:1 leverage.
I could even argue that it's safer to use leverage. If my broker has a "no negative balance" guarantee then the account can only go to $0.00.
If I buy 1 lot of EU in my account with $1000 (500:1 leverage) and EU crashes 500 pips then I lose the account ($1000).
If I buy 1 lot of EU in my account with no leverage the account survives but I lose $5000.

If I buy a car that has a max speed of 500 mph it's no more dangerous than a car with a max speed of 100 mph as long as I'm smart enough to keep my foot from pushing the accelerator to the floor.

The trader should reduce the leverage amount of the account if they can't control the risk themselves.
  • #1,127,670
  • Aug 13, 2017 1:16pm Aug 13, 2017 1:16pm
Quoting fx1986
{quote} This statement doesn't actually make any grammatical sense
It's not supposed to, I was busy at the time of writing so I cut it short.
Anyway, a stab at the grammar is low, the reason for it is clear
I have also concluded that it does make sense, in person it would make sense.
  • #1,127,671
  • Aug 13, 2017 1:33pm Aug 13, 2017 1:33pm
Quoting yousername
{quote} Is oil inventory relevant to eurusd?
crude oil is quoted in U.S. dollars (USD) so that each uptick and downtick generates immediate realignment between the greenback and numerous forex crosses. On normal, strength in commodity will affect weakness in USD. Also these movements are less correlated in nations without significant crude oil reserves, more correlated in nations that have significant reserves like Canada. Hence when oil price is up cad strengthens and usd goes weaker so we short usdcad. Also when usd weakens and euro consist of 57.6% weight we should be looking to long EURUSD. (imho). Trader also should take other market sentiment into account.
Self discipline It is a practice
  • #1,127,672
  • Aug 13, 2017 1:53pm Aug 13, 2017 1:53pm
Wow 2 days on the row we are discussing leverage and risk and nothing positive trading related. Can we switch topic already? No matter what you do , cut your leverage, reduce lot size or place stops without proper Manet management and trading plan you always will loose. Proven on my own experience!!!
  • #1,127,673
  • Aug 13, 2017 2:22pm Aug 13, 2017 2:22pm
Quoting okshop
{quote} crude oil is quoted in U.S. dollars (USD) so that each uptick and downtick generates immediate realignment between the greenback and numerous forex crosses. On normal, strength in commodity will affect weakness in USD. Also these movements are less correlated in nations without significant crude oil reserves, more correlated in nations that have significant reserves like Canada. Hence when oil price is up cad strengthens and usd goes weaker so we short usdcad. Also when usd weakens and euro consist of 57.6% weight we should be looking to...
great one okshop
but my runing 1trade have selling
english is very hard me
  • #1,127,674
  • Aug 13, 2017 2:23pm Aug 13, 2017 2:23pm
Quoting AlexReid
{quote} No he said don't listen to the hundreds of failed traders (such as yourself) that post on these forums everyday. Most of it is incoherent babble from traders that need some sort of justification for there trades. A smart trader learns the basic concept of trading then experiments and tests strategies and indicators themselves, instead of relying/copying the work of a random trader in a forum.
Now ordinarily I would ignored you and your highly immature response but doing so as some lawyers say "Silence could be interpreted as an admission of guilt".
You must be Nostradamus or have some crystal ball to know my trades and my decision making process.

My advise: Bridle your tongue and people might actually believe you are smart
Read in between the price!!!
  • #1,127,675
  • Edited 2:54pm Aug 13, 2017 2:44pm | Edited 2:54pm
Quoting denisius
Wow 2 days on the row we are discussing leverage and risk and nothing positive trading related. Can we switch topic already? No matter what you do , cut your leverage, reduce lot size or place stops without proper Manet management and trading plan you always will loose. Proven on my own experience!!!

I find it literally impossible to change anyone's opinion on a global trading forum. Pub or a wine bar. Maybe there I can convince my opponent but not here. Waste of time, energy and FF server space.

I can't wait the trading week to begin and members worrying about their own challenges rather than a discussion that can never come to an end here.

My stand is: If there weren't leverage, I wouldn't be trading FX. The biggest nightmare I have is some day, the FX market become centralised and regulated like a stock market while putting enormous restrictions on the leverage part. Then bye bye to the dreams of getting filthy rich from FX and retire.
  • #1,127,676
  • Aug 13, 2017 3:02pm Aug 13, 2017 3:02pm
This is an opinion board. Don't take yourselves so seriously.
Taigen Profit This Month: na
  • #1,127,677
  • Aug 13, 2017 3:18pm Aug 13, 2017 3:18pm
Quoting Connors
{quote} I find it literally impossible to change anyone's opinion on a global trading forum. Pub or a wine bar. Maybe there I can convince my opponent but not here. Waste of time, energy and FF server space. I can't wait the trading week to begin and members worrying about their own challenges rather than a discussion that can never come to an end here. My stand is: If there weren't leverage, I wouldn't be trading FX. The biggest nightmare I have is some day, the FX market become centralised and regulated like a stock market while putting enormous...
Good poin my friend.
  • #1,127,678
  • Aug 13, 2017 3:25pm Aug 13, 2017 3:25pm
Quoting Taigen
This is an opinion board. Don't take yourselves so seriously.

Truth be told, you are right.
I see that many traders here think they are sitting at the table of giant FX pie. None of us is tbh. We retailers are nothing, our volumes, the amount of capital we have are irrelevant to the real players of this market.

It is so refreshing to understand this since once you know you are nothing it gets much easier to follow the crumbs and "hopefully" bring the bacon home.

Until you get an account opening acceptance at a prime bank, playing humble and living low profile is good. Even if any of you made a few hundred thousand dollars, it still means nothing seriously. So yes you are actually right.

In between, you look like an older version of Robert De Niro.. Good evening to you Professor Taigen.
  • #1,127,679
  • Aug 13, 2017 3:30pm Aug 13, 2017 3:30pm
Just my 2 Cents

Good preparation, thorough market analysis, preparing a trading plan for each trade you intend to take, and waiting for the right moment to strike, will help you do well in the markets.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,127,680
  • Aug 13, 2017 3:35pm Aug 13, 2017 3:35pm
If you are tracking the EURUSD for trading opportunities this week, you may find this technical perspective helpful.

On the daily timeframe, price action was respecting a support trendline from the low of May 10, 2017. This formed an ascending channel with the high of March 28, 2017 (bound in navy coloured lines). The most recent price action is bullish in nature and showed increased momentum as an inner support trendline (chocolate colour) has developed. This may result in subsequent price action moving toward the distal channel line (navy colour), perhaps around the 1.19066 area, before any retracement is seen. As four price waves have consummated within the channel, we may see a fifth price wave heading southward after price action has tested the 1.19066 area. A potential target of a southward move is the immediate horizontal support around the 1.16205 area. This area is in confluence with the monthly pivot.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
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