Knowledge is Power

Quoting Warren Forex

Disliked

Date: 2008/06/20Time: 10:00 (GMT +2)Ticker: JPYLast: 107.72Pivot: 1081st sup.107.452nd sup.107.013rd sup.106.61st res.1082nd res.108.43rd res.108.6Title: USD/JPY intraday: The downside prevails.Summary: Update on supports and resistances.Story: Pivot: 108

Our preference: Short @ 107.9 with targets @ 107.45 & 107.01 in extension.

Alternative scenario: Above 108 look for further upside with 108.4 & 108.6 as targets.

Comment: The RSI is capped by a bearish trend line.
http://www.tradingcentral.com/chart/...0620095949.GIF

Ignored

Quoting Warren Forex

Disliked

I opened a demo account using the FX Solutions platform on June 9, 2008. My starting capital was $100,000 US Dollars. The Cash Balance (Demo) in my account at the moment is $111,934.90 US and I hold 10 positions of 100K of USD/JPY !!!

Here is the PDF file of all my FX trades.

I have opened and closed 117 FX trades to date with the Gross Profit before rollover costs being $12,875.83 US Dollars.

I am on a winning streak of 117 in a row. My record real trading with $100,000 US Dollars REAL FUNDS is 693 !

Who Cares ? Me ... Smile

Good Trading Day All !!!

Please post your opening balance Demo accounts so I can see who is ready to learn how to make 10% Net Profit A Month Demo Trading before you start to use Real Funds !


Bruce

Ignored

Quoting Warren Forex

Disliked

As the Dow Futures are down 22 and USD/JPY is heading towards 108.00, look at the PERCEPTION part of FTP

Thank You


Bruce

Ignored

Quoting AgentFx

Disliked

Im new here although I have been reading threads here for about three years. Decided I would sign up and start contributing some of my knowledege I have learned along the way. I have almost four years in this market and here are some of my thoughts on money management.
I always said the money management depends on the personality of the trader and is something that is learned as we grow as traders. Also you should never risk any money that you can’t afford to loose. As a general rule I never risk more than 1% of total equity on any trade. With this approach a trader can be wrong 20 times in a row and still have 80% of his or her equity left. The name of the game is survival and the longer you’re in it the more you’ll learn the wiser you will become. If you want to get rich over night on one trade chances are you’ll risk more than you should and your account will be wiped out if the market moves against you before your in profit the way it always does ending in a margin call. Margin is essentially collateral for a position. It allows traders to take on leveraged positions with a fraction of the equity necessary to fund the trade. In the equity markets, the usual margin allowed is 50% which means an investor has double the buying power. In the forex market leverage ranges from 1% to 2%, giving investors the high leverage needed to trade actively. Of course, trading on margin can increase your risk.
A margin example is: USD Based Currency Pair Margin = (Contract size / Leverage) You have $500 in a mini account. To calculate the margin required to execute 8 mini lots of USD/CHF (80,000 USD) at 200x leverage, simply divide the deal size by the leverage amount e.g. (80,000 / 200 = 400). You post $400 margin for this trade, leaving a $100 balance in your account. Non-USD Based Currency Pair Margin = [(Contract Size x Price) / Leverage] In this example, you have $5,000 in a standard account. You want to execute 3 lots of GBP/USD (300,000 Euros) at the current market price of 1.2710 using 100x leverage. To calculate the required margin for this position, multiply the deal size (300,000) by the price (1.2710) and then divide by the leverage (100x), e.g. [(300,000*1.2710)/100] = $3,813. After you executed this trade, you would have a $1,187 balance in your account.
There are many strategies that we can use to avoid margin calls; the most common is the use of stop losses. Good money management will be out a great trading system any day. Without knowing how to keep losses to a minimum will only jeopardize you’re trading efforts even if you have more winning trades than losing trades. One way to practice this is instead of trying to make money look at it as if you are trying to protect your money. Exercising discipline and following a specific trading plan is one of the most important aspects in FOREX trading. Discipline is also the ability to continue to trade your system even after you have suffered a loss. Emotional and revenge trading can easily wipe out entire accounts.
Thats my two cents, I hope this helps, and will try to post more often

Ignored

Quoting bristolxyz

Disliked

Bruce,

Just a quick question... whats you opinion on this.
Suppose a hurricane crossed FL and into the Gulf (Oil rigs at risk). What do you think the impact would be on the USD? It seems like there is nothing that does not impact the fundamentals or economy these days.

Bristol

Ignored

Quoting AgentFx

Disliked

Im new here although I have been reading threads here for about three years. Decided I would sign up and start contributing some of my knowledege I have learned along the way. I have almost four years in this market and here are some of my thoughts on money management.
I always said the money management depends on the personality of the trader and is something that is learned as we grow as traders. Also you should never risk any money that you can’t afford to loose. As a general rule I never risk more than 1% of total equity on any trade. With this approach a trader can be wrong 20 times in a row and still have 80% of his or her equity left. The name of the game is survival and the longer you’re in it the more you’ll learn the wiser you will become. If you want to get rich over night on one trade chances are you’ll risk more than you should and your account will be wiped out if the market moves against you before your in profit the way it always does ending in a margin call. Margin is essentially collateral for a position. It allows traders to take on leveraged positions with a fraction of the equity necessary to fund the trade. In the equity markets, the usual margin allowed is 50% which means an investor has double the buying power. In the forex market leverage ranges from 1% to 2%, giving investors the high leverage needed to trade actively. Of course, trading on margin can increase your risk.
A margin example is: USD Based Currency Pair Margin = (Contract size / Leverage) You have $500 in a mini account. To calculate the margin required to execute 8 mini lots of USD/CHF (80,000 USD) at 200x leverage, simply divide the deal size by the leverage amount e.g. (80,000 / 200 = 400). You post $400 margin for this trade, leaving a $100 balance in your account. Non-USD Based Currency Pair Margin = [(Contract Size x Price) / Leverage] In this example, you have $5,000 in a standard account. You want to execute 3 lots of GBP/USD (300,000 Euros) at the current market price of 1.2710 using 100x leverage. To calculate the required margin for this position, multiply the deal size (300,000) by the price (1.2710) and then divide by the leverage (100x), e.g. [(300,000*1.2710)/100] = $3,813. After you executed this trade, you would have a $1,187 balance in your account.
There are many strategies that we can use to avoid margin calls; the most common is the use of stop losses. Good money management will be out a great trading system any day. Without knowing how to keep losses to a minimum will only jeopardize you’re trading efforts even if you have more winning trades than losing trades. One way to practice this is instead of trying to make money look at it as if you are trying to protect your money. Exercising discipline and following a specific trading plan is one of the most important aspects in FOREX trading. Discipline is also the ability to continue to trade your system even after you have suffered a loss. Emotional and revenge trading can easily wipe out entire accounts.
Thats my two cents, I hope this helps, and will try to post more often

Ignored