Persian Gulf forever
- #53,142
- Apr 16, 2020 3:58am Apr 16, 2020 3:58am
- Joined Apr 2013 | Status: Trader | 1,926 Posts
If you don't know how to earn money, don't loose it.
- #53,143
- Apr 16, 2020 4:02am Apr 16, 2020 4:02am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
️
..finish my movie and Gu still shaking at same place..
so sometimes don’t monitor too much..
let them play..
just for a cup of coffee...
- #53,145
- Edited 4:45am Apr 16, 2020 4:27am | Edited 4:45am
- Joined Nov 2016 | Status: Trader | 2,361 Posts
GD akim n all....
cash n collect ... for coffee break now .. he he
cash n collect ... for coffee break now .. he he
- #53,146
- Apr 16, 2020 4:27am Apr 16, 2020 4:27am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
likely Gu waiting for me to start drop
nice..
nice..
just for a cup of coffee...
- #53,149
- Apr 16, 2020 4:42am Apr 16, 2020 4:42am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
{quote} WHY THE Fark dont you try and work out what indis and settings you see .... you will only learn by researching sheez
hold the horse mate..
ha ha..
he only asking if he can sharing something there
if don’t want nothing wrong..
owner not saying anything yet..’
and i know patiencefx for some times
he great guy..
at past he always stop by give some of his view n opinion here..
stay at home...
keep social distancing..
️ just for a cup of coffee...
- #53,150
- Apr 16, 2020 4:43am Apr 16, 2020 4:43am
- Joined Apr 2013 | Status: Trader | 1,926 Posts
{quote} hey man, Just a question, for a professional entry, what lot size one should tarde with 1k account with 1 : 500 leverage
posting this, not directed to you, but to any brother newbie that wants to keep alive on the trading world.
trading is so exciting that new traders just want to get in market, as sooner, as better. This, by itself is the fastest way to get ripped off.
we see this very often. people just came to trading, see some system/strategy like akim's, they read, they think they understand, and they are ready!
it looks so easy, that the dream goes high!
they forgot the mental part.
Emotions is deadly.
no one becomes a trader if can't accept a loss without emotion.
so, how to deal with it when we are rookies?
all trades must be planned, it's not just a question to find the best place to enter. What if we are wrong? Should we take the loss? YES.
if we are wrong, we deserve the loss.
so, how do we survive?
1st we should manage, really understand the system/strategy, then protect your money before you even get into trading.
as my signature always reminds, "if you don't know how to earn money, don't loose it".
if you don't loose, you will be close to win.
for all the rookies, i truly believe that the lot calculator is fundamental.
until one really manage emotions, one should always use this lot calculator.
i used it for years... now i do it mentally.
so, newbie, before enter long or short, set your SL (it can be mental). define your risk (%) based on SL (pips).
define your TP (pips).
if SL (pips) > TP (pips), consider in not take the trade or reduce risk!
use it over and over, allways, until you feel ok with your losses.
this lot calculator will help you to protect your account, not getting your account blown.
Hopefully, with time (not everyone can do it) you will accept naturally the losses.
you will loose fear, you will dominate emotions (eventually).
of course, then study your losses, bla, bla, bla, to get better, bla, bla, bla.
that's ground zero, IMO.
but then it's just me... but i believe this is my best advice.
adjust your lot according to your account size and risk.
with account growing, lot size will increase, NOT YOUR RISK!
"Oh, i made 10 winning trades consecutive, and my account grown 25%! I started with 1000$ and with 10 trades, 0 losses, i'm up to 1250$, in a single day! I crack it. I will raise my risk and i will make 25000$ in 2 weeks"!
WRONG!
Buy growing account, one should increase lot size, not the risk.
Stay cool.
If you don't know how to earn money, don't loose it.
- #53,152
- Apr 16, 2020 5:19am Apr 16, 2020 5:19am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
no sign of big bears at Gu..
possible back 2500 again
i might be wrong..
possible back 2500 again
i might be wrong..
just for a cup of coffee...
- #53,153
- Apr 16, 2020 5:24am Apr 16, 2020 5:24am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #53,157
- Apr 16, 2020 5:42am Apr 16, 2020 5:42am
- Joined Jan 2016 | Status: Trader | 5,200 Posts
{quote} id also like to share, "A bear chased two hikers. One hiker, while being chased, stopped to put on running shoes."As he was changing out of his hiking boots, his companion looked at him in horror and exclaimed, “What in the world are you doing? You’ll never outrun the bear if you stop now!” Calmly, the other hiker said, “I don’t have to outrun the bear. I just have to outrun you.” The forex market offers more opportunity for fast financial success – and financial ruin – than almost any other market. The get-rich crowd has always been attracted...
This is me and my trading sometimes, out in the forex woods hunting pips then suddenly...
Warning GRAPHIC!!!!
https://vimeo.com/150120476
Don't Leave Money on the Table
- #53,159
- Apr 16, 2020 5:56am Apr 16, 2020 5:56am
- Joined Nov 2016 | Status: Trader | 2,361 Posts
no sign of big bears at Gu.. possible back 2500 again i might be wrong..
still running in play ,,,
- #53,160
- Apr 16, 2020 6:00am Apr 16, 2020 6:00am
- Joined Apr 2013 | Status: Trader | 1,926 Posts
{quote} id also like to share, "A bear chased two hikers. One hiker, while being chased, stopped to put on running shoes."As he was changing out of his hiking boots, his companion looked at him in horror and exclaimed, “What in the world are you doing? You’ll never outrun the bear if you stop now!” Calmly, the other hiker said, “I don’t have to outrun the bear. I just have to outrun you.” The forex market offers more opportunity for fast financial success – and financial ruin – than almost any other market. The get-rich crowd has always been attracted...
You are right, greed is also a real problem. But is also mental. and can only be beaten with discipline. Most of the time it leads to overtrading, no money is enough...
this can only be treated (yes, treated) like a virus...stay home, stay out.
same as knowing SL to avoid to broke account, TP is fundamental to avoid greed.
one should have a TP for every single trade. PERIOD. if tp is achieved, close the trade. who cares if after goes 200 pips in your trade direction, you got your share already. if TP is not achieved, close it at BE or BE+1.
one trading day should have a TP as well. if my target is to increase my account 1% (or 2%) per day, i stop trading when target is achieved. PERIOD.
easy to do? NO? then you are still greed.
work on that.
set a reliable day target. people tend to react "1% (or 2%) account grown per day?" , "that's nonsense", anyone can do 10% or 20%".
that's greed talking. and we know where greed can lead.
to save us from greed the vaccine is previous post (lot calculator). you will not dye from greed, but you will remain sick...
If you don't know how to earn money, don't loose it.