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Cable Update (GBPUSD)

  • #70,141
  • Jun 11, 2008 9:52am Jun 11, 2008 9:52am
Quoting AmeriTrini
why bro, where the f#$k are you going?, plz stay!!!

i got to go blow up my account, when i leave you guys can say i blew my account up, .
If I Go Broke Trying Then I Will die happy.
  • #70,142
  • Jun 11, 2008 9:55am Jun 11, 2008 9:55am
Quoting samuzowulu
Please can any one recommend a good broker that is regulated, gives up to 1:300 leverage, with a minimum initial deposit of 200 USD and does not waste so much time on withdrawal. Thanks
if samuzowulu wants to start trading live with $200. i don't think its a bad idea cos dat is what he is convinient with (risk capital). but with $200 u'll have to start with micro lots i.e. $1000 lots and trade no more than 2 of those lots at a time and not more than 2 trades simultaneously. dats my kind of money mgt. just make sure u have constant MM over a period of time say 3 months. and then think pips, the money will surely be yours. Reason been that i once had positive pips and negative cash. that experience simply thought me the constant MM rule. am still on demo though but i intent going live with.... hear it.... $40 dollars as my broker will allow $100 dollar lot sizes and 1 pip is $0.01 i.e. 1 cent and dat is what i can call risk capital for now. happy trading
  • #70,143
  • Jun 11, 2008 9:55am Jun 11, 2008 9:55am
Quoting JanPoko
Hey guys, are you really aware, what are you doing here to that man?

He is intending to start with 200 bucks and 1:300 leverage and if you are real traders and not just jokers then you must admit, that such a setting would be a financial suicide for anyone! So what is your help? To tell him go on? Oh dear! My words may not be polite as they should be, but at least I am openly telling that 1:300 at $200 simply does not work! Just a little of basic math will tell you what would be allowable drawdown.

With your encouragment the guy will simply loose his most probably hard earned 200 bucks. That's all.
On the basis I've been down to $112 on closed positions, with $100 needed for Margin and pulled the account back to reasonible levels, don't right it off.

I'd prefer someone to risk $200 and try than risk 100K and try, I've seen people quite a few think they need to start big and lose 100K.

He likely only has $200 spare, and depending on where he lives in the world could realistically survive just making $200 per month or something.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,144
  • Jun 11, 2008 9:56am Jun 11, 2008 9:56am
Quoting Turveyd
Made enough to take a few years off today hey tis the dream, enjoy!!

Shame though, your actually a good trader, so few around!!
i wish, i got other business venture that im getting into, thanks to forex, i have other dreams, one of them becoming a billionaire, im serious bro. , get rich or die trying :nerd:
If I Go Broke Trying Then I Will die happy.
  • #70,145
  • Jun 11, 2008 10:03am Jun 11, 2008 10:03am
Quoting laposta74
if samuzowulu wants to start trading live with $200. i don't think its a bad idea cos dat is what he is convinient with (risk capital). but with $200 u'll have to start with micro lots i.e. $1000 lots and trade no more than 2 of those lots at a time and not more than 2 trades simultaneously. dats my kind of money mgt. just make sure u have constant MM over a period of time say 3 months. and then think pips, the money will surely be yours. Reason been that i once had positive pips and negative cash. that experience simply thought me the constant MM rule. am still on demo though but i intent going live with.... hear it.... $40 dollars as my broker will allow $100 dollar lot sizes and 1 pip is $0.01 i.e. 1 cent and dat is what i can call risk capital for now. happy trading
I have a $800+ account and regulary trade at $4 per pip fairly easily, there is not problem with doing this, as long as your trading profitably.

When I slip back to none profitable it'll sting but when the brain works, might aswell up the risk abit!!

Depends on your style ofcourse, if your a multi day swing trader then $0.1 or lower ofcourse, but if your a day trader that rarely lets the market move 15pips again then what the hell.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,146
  • Jun 11, 2008 10:05am Jun 11, 2008 10:05am
Quoting Moe
i wish, i got other business venture that im getting into, thanks to forex, i have other dreams, one of them becoming a billionaire, im serious bro. , get rich or die trying :nerd:

Get Rich or Die trying is my moto to, if your not trying your arleady dead.

Ofcourse to me, you are already RICH, tis all relative.

Do you think other ventures can pay as well as forex though ?? Business Ventures can be risky and do frequently bankrupt even millionaires!!

Good luck what ever you decide to do with your time dude!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,147
  • Jun 11, 2008 10:09am Jun 11, 2008 10:09am
Quoting Turveyd
Get Rich or Die trying is my moto to, if your not trying your arleady dead.

Ofcourse to me, you are already RICH, tis all relative.

Do you think other ventures can pay as well as forex though ?? Business Ventures can be risky and do frequently bankrupt even millionaires!!

Good luck what ever you decide to do with your time dude!!
when yur successfull yur successfull...money breeds money my friend
  • #70,148
  • Jun 11, 2008 10:11am Jun 11, 2008 10:11am
Quoting Turveyd
Get Rich or Die trying is my moto to, if your not trying your arleady dead.

Ofcourse to me, you are already RICH, tis all relative.

Do you think other ventures can pay as well as forex though ?? Business Ventures can be risky and do frequently bankrupt even millionaires!!

Good luck what ever you decide to do with your time dude!!
if i go bankrupt then im dead, as with anything even forex can make you go bankrupt, i should know i did it 10 times , it just the risk you take, didn't you take a risk trading forex, so whats the diffrence.
If I Go Broke Trying Then I Will die happy.
  • #70,149
  • Jun 11, 2008 10:13am Jun 11, 2008 10:13am
Quoting Turveyd
I have a $800+ account and regulary trade at $4 per pip fairly easily, there is not problem with doing this, as long as your trading profitably.

When I slip back to none profitable it'll sting but when the brain works, might aswell up the risk abit!!

Depends on your style ofcourse, if your a multi day swing trader then $0.1 or lower ofcourse, but if your a day trader that rarely lets the market move 15pips again then what the hell.

Turveyd,
i tot u said u've been trading for over three years. u will not compare yourself to someone who is opening his first live account. the emotional fuel dat goes into $1 a pip for a $200 dollar account can be dangerous. a drawdown of just 40pips (20% of equity) which is a regular occurence in Fx will get a first time live trader thinking of revenge. i want to believe the account you spoke about ($112) was not your first live account. i know you can trade $1 per pip with $200 successfully but only as someone who is experiecnced and knows dat the money will surely come back if he remains in control. but a first timer is likely to spiral down if he has that kind of drawdown...
  • #70,150
  • Jun 11, 2008 10:17am Jun 11, 2008 10:17am
Quoting laposta74
Turveyd,
i tot u said u've been trading for over three years. u will not compare yourself to someone who is opening his first live account. the emotional fuel dat goes into $1 a pip for a $200 dollar account can be dangerous. a drawdown of just 40pips (20% of equity) which is a regular occurence in Fx will get a first time live trader thinking of revenge. i want to believe the account you spoke about ($112) was not your first live account. i know you can trade $1 per pip with $200 successfully but only as someone who is experiecnced and knows dat the money will surely come back if he remains in control. but a first timer is likely to spiral down if he has that kind of drawdown...
trading with that small account you have to only take the homerun trades untill your account builds back, when i first got started with 1k i was trading like a mad man, the account drop down to $230 then i only took my home run trades and got it back up to 3k, it can work, but you better have one hell of a system and big balls.
If I Go Broke Trying Then I Will die happy.
  • #70,151
  • Jun 11, 2008 10:17am Jun 11, 2008 10:17am
Quoting Moe
if i go bankrupt then im dead, as with anything even forex can make you go bankrupt, i should know i did it 10 times , it just the risk you take, didn't you take a risk trading forex, so whats the diffrence.
I did, a risk trading forex and a risk starting my own company neither of which have really paid off thus far, so further risks closing the business to just trade are in the pipe.

BUT your making a killing ( tell me if I'm wrong ) on Forex, so why change, unless your fed up of doing it, the grass is never greener on the other side.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,152
  • Jun 11, 2008 10:18am Jun 11, 2008 10:18am
Cable and EU cant't seem to climb the ladder up. Trichet was hawkish the last time i checked but no upside momentum. i smell a big short over the next few days
  • #70,153
  • Jun 11, 2008 10:19am Jun 11, 2008 10:19am
Quoting nAVIN2007
when yur successfull yur successfull...money breeds money my friend
kinda seems like it does
but i actually entered forex because i want to breed money out of little money. and so far im still on track.

it might be a stupid dream but im sticking with it
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #70,154
  • Jun 11, 2008 10:20am Jun 11, 2008 10:20am
Quoting laposta74
Turveyd,
i tot u said u've been trading for over three years. u will not compare yourself to someone who is opening his first live account. the emotional fuel dat goes into $1 a pip for a $200 dollar account can be dangerous. a drawdown of just 40pips (20% of equity) which is a regular occurence in Fx will get a first time live trader thinking of revenge. i want to believe the account you spoke about ($112) was not your first live account. i know you can trade $1 per pip with $200 successfully but only as someone who is experiecnced and knows dat the money will surely come back if he remains in control. but a first timer is likely to spiral down if he has that kind of drawdown...
I've known newbies, keep is simple because they don't know any different thankfully and make a serious killing, okay it's rare, but it does happen, maybe he's got a plan and he doesn't suffer with the emotional issues ??

Who knows, it's $200 let him try and learn, I'm sure if he blows it he can do what everyone does which is think on it, add another $200 and keep trying, cheaper than slapping in 20K and doing this.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,155
  • Jun 11, 2008 10:22am Jun 11, 2008 10:22am
i've already blown up my 3 acc ( $600,$500,$400 ) only for 3 month
but this month i opened my 4th acc ( $2800 )
when i write this all my loses are already back

so i just want to say even u start with $200 it's fine
u should use ur minimum to gain experience
until u feel ready u can always inject again

it just based on my experience on real acc ( jan 08 till now )
  • #70,156
  • Jun 11, 2008 10:23am Jun 11, 2008 10:23am
Quoting Moe
trading with that small account you have to only take the homerun trades untill your account builds back, when i first got started with 1k i was trading like a mad man, the account drop down to $230 then i only took my home run trades and got it back up to 3k, it can work, but you better have one hell of a system and big balls.
u c even MOE started with a 1k account
now one position of his is 900k
living proof
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #70,157
  • Jun 11, 2008 10:23am Jun 11, 2008 10:23am
Quoting salah k.
kinda seems like it does
but i actually entered forex because i want to breed money out of little money. and so far im still on track.

it might be a stupid dream but im sticking with it
Most of the population wastes money on the lottery when realistically they've got no real chance of winning, forex IS NOT gambling so it's not a dream its a reality, most will fail, but 2% which make it, is much higher than the people that win the lottery

Keep the faith dude!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,158
  • Jun 11, 2008 10:26am Jun 11, 2008 10:26am
Quoting laposta74
am still on demo though but i intent going live with.... hear it.... $40 dollars as my broker will allow $100 dollar lot sizes and 1 pip is $0.01 i.e. 1 cent and dat is what i can call risk capital for now. happy trading
As a game, ok, but as real trading, my god! A rally of 100 pips would bring you $1 profit, ok? You would need about 200 such good trades without a single loss to earn 200 bucks. Is your time and life really worth such a waste of time? That's why I said: find another job - unless you just want to spend time, like e.g. with crossword puzzles...

And again, perhaps you guys, who are fluent in English, could explain to our friend the dangers of over leveraging...
  • #70,159
  • Jun 11, 2008 10:27am Jun 11, 2008 10:27am
Quoting Turveyd
I did, a risk trading forex and a risk starting my own company neither of which have really paid off thus far, so further risks closing the business to just trade are in the pipe.

BUT your making a killing ( tell me if I'm wrong ) on Forex, so why change, unless your fed up of doing it, the grass is never greener on the other side.
i make damn good money trading forex and that won't change il keep this as a back up, i will still be trading and making money, but im a firm believer in not limiting one self, i don't want to get old thinking about what i could of should of done, i can't live with my self knowing i didn't take a chance, if i go broke trying then il die happy,
If I Go Broke Trying Then I Will die happy.
  • #70,160
  • Jun 11, 2008 10:27am Jun 11, 2008 10:27am
Quoting salah k.
kinda seems like it does
but i actually entered forex because i want to breed money out of little money. and so far im still on track.

it might be a stupid dream but im sticking with it
every1 needs dreams...and in forex just look at it as a learning curve i got my first 137 pip for profit today on live account...it took a matter of having to do it...i mentally wont allow myself to lose £1000 and because of this i did it today..otherwise i doubt id have be able to do it

now i just need to build on this..
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