Hi Trader888 !
Until today I have followed this thread with a lot of interest
When I started trading Forex I made a painful but exciting journey
to various destinations which are called :
1. Countless Forums and Subforums
2. Account Blow Downs due to disastrous money management
3. Technical Analysis from A to Z
4. Various Gurus with Holy Grail phantasies expressed in
e-books with zero Information for the bucks...
So now I see much clearer and I'm on the way to continuos profits
which nicely compound
What did I do ?
1. I've deleted all templates and indicators from my MT4 subfolders
2. I trade with a naked candlestick chart
3. I only use trendlines as described in Tom Demark's book
4. I stick to the order flow which represents clearly in the
charts every day (It's really sooooooo predictible )
5. I use a strict money management
( I only risk max. 2% of my account on one trade !!!! )
6. My stop loss is 50 pips for GBP/USD, 80 Pips for GBP/JPY
and 30 Pips for the not so volatile currency pairs.
For the long term trades I agree 1000% with your extraordinary
analysis regarding the fundamentals !!!
I know that you couldn't explain all the details of how this business
works behind the curtain but I bow my hat for the little look you
give us here at FF
Regarding the extraordinary gains of all the major companies in the U.S.
like Solomon Bros, Merril Lynch, Goldman etc. there was a discussion
in the newspapers how they had reached such a tremendous result
regarding the FX-Profits.
There was a talk, that the big boys now the direction of the trade
and therefore they can make secure bets with extraordinary sums.
I'm interested to read your opinion regarding all this stuff
Best wishes to you and your family
Bernhard
Until today I have followed this thread with a lot of interest
When I started trading Forex I made a painful but exciting journey
to various destinations which are called :
1. Countless Forums and Subforums
2. Account Blow Downs due to disastrous money management
3. Technical Analysis from A to Z
4. Various Gurus with Holy Grail phantasies expressed in
e-books with zero Information for the bucks...
So now I see much clearer and I'm on the way to continuos profits
which nicely compound
What did I do ?
1. I've deleted all templates and indicators from my MT4 subfolders
2. I trade with a naked candlestick chart
3. I only use trendlines as described in Tom Demark's book
4. I stick to the order flow which represents clearly in the
charts every day (It's really sooooooo predictible )
5. I use a strict money management
( I only risk max. 2% of my account on one trade !!!! )
6. My stop loss is 50 pips for GBP/USD, 80 Pips for GBP/JPY
and 30 Pips for the not so volatile currency pairs.
For the long term trades I agree 1000% with your extraordinary
analysis regarding the fundamentals !!!
I know that you couldn't explain all the details of how this business
works behind the curtain but I bow my hat for the little look you
give us here at FF
Regarding the extraordinary gains of all the major companies in the U.S.
like Solomon Bros, Merril Lynch, Goldman etc. there was a discussion
in the newspapers how they had reached such a tremendous result
regarding the FX-Profits.
There was a talk, that the big boys now the direction of the trade
and therefore they can make secure bets with extraordinary sums.
I'm interested to read your opinion regarding all this stuff
Best wishes to you and your family
Bernhard