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  • #1,152,721
  • Mar 28, 2019 8:12am Mar 28, 2019 8:12am
Quoting MrPresident
{quote} Wow, that is a nice website it really shows that the majority of forex traders gamble as if they are playing the roulette wheel at the casino with their life savings
It simply shows that most of the pros use Dukascopy or other swiss-bank linked brokers.

As for people playing casino with their life savings.... my challenge to everyone is this:
If you can't even trade a tiny $500 account up to at least five figures without blowing it up you have no business being an FX trader, so quit while you are ahead.
There no point loading up an account with any more money than that.
If you don't know what you are doing, losing $500 is not too bad.
If you DO know what you are doing, you will get to $10,000 and then will have enough money to continue day trading.
  • #1,152,722
  • Mar 28, 2019 8:13am Mar 28, 2019 8:13am
Quoting Techanalyst
{quote} Never open your mouth, until you know what the shot is rookie. According to sentiment sell. Losers are buying and you are right in that group of losers. {image}
It's OK if that helps you in trading... does it?

Quoting Stillearnin
{quote} Hi can you tell me where did you get that from? The market sentiment i mean.
"The book of rookie"

Quoting knkie
{quote} 199 for retail. the treaty of amstedam is in 1997. spot price from august 1997. Banks were using it way before us. It made trade easier before retail jumped in. The opneing price for august 1997 was 1.06340 The close of that month was 1.08190
There is no such thing as " bottom" ...consider inflationary phenomenon...
Member
  • #1,152,723
  • Mar 28, 2019 8:19am Mar 28, 2019 8:19am
Quoting TudorIoan
{quote} It's OK if that helps you in trading... does it? {quote} "The book of rookie" {quote} There is no such thing as " bottom" ...consider inflationary phenomenon...
i dont think i used the word bottom...
what i meant is that I dont think the euro will survive in the long run...or at least not in its current form.
So i was kind of using the "we go back to where we came from" anology...
it would be wonderful if the euro ended where it began.
Full circle.
in wondering about yourself, you forgot what you came here to be part of
  • #1,152,724
  • Mar 28, 2019 8:20am Mar 28, 2019 8:20am
Quoting knkie
{quote} 199 for retail. the treaty of amstedam is in 1997. spot price from august 1997. Banks were using it way before us. It made trade easier before retail jumped in. The opneing price for august 1997 was 1.06340 The close of that month was 1.08190
ecu...
  • #1,152,725
  • Mar 28, 2019 8:20am Mar 28, 2019 8:20am
Quoting EvilEye
{quote} It simply shows that most of the pros use Dukascopy or other swiss-bank linked brokers. As for people playing casino with their life savings.... my challenge to everyone is this: If you can't even trade a tiny $500 account up to at least five figures without blowing it up you have no business being an FX trader, so quit while you are ahead. There no point loading up an account with any more money than that. If you don't know what you are doing, losing $500 is not too bad. If you DO know what you are doing, you will get to $10,000 and then...
Professionals trade with forex brokers that don’t offer binary options, it doesn’t matter if the broker is in Switzerland. The reason that it is there is that the regulations are less strict compared to Australia or USA.

Professionals also have high account balances to trade with and they trade through hedge funds like George Soros.

$500 is nothing in forex trading.
Don't Worry Be Happy
  • #1,152,726
  • Mar 28, 2019 8:20am Mar 28, 2019 8:20am
Quoting TudorIoan
{quote} "The book of rookie" ...now trading is easy
Exactly! Off to making millions now.

We arrived at 1.1218. I am curious to see if something will develop here or not.
  • #1,152,727
  • Mar 28, 2019 8:22am Mar 28, 2019 8:22am
Quoting knkie
{quote} i dont think i used the word bottom... what i meant is that I dont think the euro will survive in the long run...or at least not in its current form. So i was kind of using the "we go back to where we came from" anology... it would be wonderful if the euro ended where it began. Full circle.
Yeah, I guesso, I mean Europe always has been a powder barrel...
But euro might survive as a currency supported by the strong Western Europe economies ...even the satellite populist, dumb, nationalist countries will drop like flyes ...fuck knows...
Member
  • #1,152,728
  • Mar 28, 2019 8:24am Mar 28, 2019 8:24am
Quoting Stillearnin
{quote} Exactly! Off to making millions now. We arrived at 1.1218. I am curious to see if something will develop here or not.
I think nothing much will develop. The buyers will be trapped and this is going down to 1.11xx possible.
  • #1,152,729
  • Mar 28, 2019 8:25am Mar 28, 2019 8:25am
Quoting TudorIoan
{quote} It's OK if that helps you in trading... does it? {quote} "The book of rookie" {quote} There is no such thing as " bottom" ...consider inflationary phenomenon...
It helps a bit. But it is a tool not something you want to rely on. You use that with the strategy on charts and it does help for sure. But you can spot these on charts directly where the price is going too. Like where the sellers or buyers are getting trap and where the price is going.
  • #1,152,730
  • Mar 28, 2019 8:26am Mar 28, 2019 8:26am
Quoting TudorIoan
{quote} Yeah, I guesso, I mean Europe always has been a powder barrel... But euro might survive as a currency supported by the strong Western Europe economies ...even the satellite populist, dumb, nationalist countries will drop like flyes ...fuck knows...
well ive been saying this since 2007:
Northern Europe and Southern Europe don not match economically and will result in the south going broke.
We need a Neuro and a Seuro.
in wondering about yourself, you forgot what you came here to be part of
  • #1,152,731
  • Mar 28, 2019 8:27am Mar 28, 2019 8:27am
Quoting Stillearnin
{quote} Exactly! Off to making millions now. We arrived at 1.1218. I am curious to see if something will develop here or not.
I think is up to the EU-UK Brexit mess ....those agitated days on politics...
Some guys here they have certain levels in their mind, ...but I really have no idea what will appen at 1215
Member
  • #1,152,732
  • Mar 28, 2019 8:29am Mar 28, 2019 8:29am
Quoting EvilEye
{quote} It simply shows that most of the pros use Dukascopy or other swiss-bank linked brokers. As for people playing casino with their life savings.... my challenge to everyone is this: If you can't even trade a tiny $500 account up to at least five figures without blowing it up you have no business being an FX trader, so quit while you are ahead. There no point loading up an account with any more money than that. If you don't know what you are doing, losing $500 is not too bad. If you DO know what you are doing, you will get to $10,000 and then...
The $500 you want to trade with when you are learning. Micro lots. So demo account first but not for long, than $500 live account. You want to get that feeling how it is when you earn and how it is when you have losses. That is how i was teaching myself. Once i turned more money than $500 and was confident and the strategy that i trade with works, i started with $5,000. Meanwhile i still had my day job. Once i tripled that, i was good to go i started trading full time. It has been going very good for years now. But i know what you mean, if you are a good trader and have a good strategy with good risk management, you should be able to trade $500 and turn it into more profit.
  • #1,152,733
  • Mar 28, 2019 8:30am Mar 28, 2019 8:30am
i don't think 1.1218... is a good spot for sell .... it may go !but it's not a good spot to open order ... take care
  • #1,152,734
  • Mar 28, 2019 8:32am Mar 28, 2019 8:32am
Good advise there mate!

KP

Quoting Techanalyst
{quote} The $500 you want to trade with when you are learning. Micro lots. So demo account first but not for long, than $500 live account. You want to get that feeling how it is when you earn and how it is when you have losses. That is how i was teaching myself. Once i turned more money than $500 and was confident and the strategy that i trade with works, i started with $5,000. Meanwhile i still had my day job. Once i tripled that, i was good to go i started trading full time. It has been going very good for years now. But i know what you mean,...
Do your homework, follow the footprints of smart money
  • #1,152,735
  • Mar 28, 2019 8:36am Mar 28, 2019 8:36am
Quoting Techanalyst
{quote} The $500 you want to trade with when you are learning. Micro lots. So demo account first but not for long, than $500 live account. You want to get that feeling how it is when you earn and how it is when you have losses. That is how i was teaching myself. Once i turned more money than $500 and was confident and the strategy that i trade with works, i started with $5,000. Meanwhile i still had my day job. Once i tripled that, i was good to go i started trading full time. It has been going very good for years now. But i know what you mean,...
I have sworn I won't quit my job until I see 1 M in my pocket!
Member
  • #1,152,736
  • Mar 28, 2019 8:48am Mar 28, 2019 8:48am
Quoting Techanalyst
{quote} It helps a bit. But it is a tool not something you want to rely on. You use that with the strategy on charts and it does help for sure. But you can spot these on charts directly where the price is going too. Like where the sellers or buyers are getting trap and where the price is going.
Agree, fair enough. But take care though because sentiment is not really relevant for the pair's direction.
Sentiment charts only shows the biases. And we all know that the volumes are moving the market.
If one doesn't have all accurate info about the positions, stop levels and volumes all together cannot have a greater advantage than the other participants.
But as an indicative tool is alright
Member
  • #1,152,737
  • Mar 28, 2019 8:59am Mar 28, 2019 8:59am
is seems cable will go down the drain a bit faster than eur/usd... a least for a couple more trading days...
  • #1,152,738
  • Mar 28, 2019 9:13am Mar 28, 2019 9:13am
I saw bull accumulation, and fancied some correction , took quick counter trend bought 1.12203 to 1.12282

The accumulation was very clear, but similar ones defeated by bear several times before....
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB
Be a spectator, not a player
  • #1,152,739
  • Mar 28, 2019 9:20am Mar 28, 2019 9:20am
now it's time to go long .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu d1.png Size: 27 KB
Click to Enlarge Name: eur usd h1.png Size: 30 KB
Click to Enlarge Name: eur usd 15M.png Size: 30 KB
yes yes yes
  • #1,152,740
  • Mar 28, 2019 9:23am Mar 28, 2019 9:23am
Quoting Moty
now it's time to go long . {image} {image} {image}
A little bit early, imo, other USD pairs still bearish, and EU dropped for a reason, no accumulate no bump up, take care
Be a spectator, not a player
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