oh look, i got a long open at 211.60. how cool is that?
Auslanco - GBP/JPY and GBP/USD (newstrade)
Limit your risk (this was attributed to a posting by the Elliott Wave group, however, I was not able to confirm)
If you risk 50% – you will wipe out as soon as you have 2 consecutive losing trades – 1 chance in 4
If you risk 25% – you will wipe out as soon as you have 4 consecutive losing trades – 1 chance in 16
If you risk 10% – you will wipe out as soon as you have 10 consecutive losing trades – 1 chance in 1024
If you risk 5% – you will wipe out as soon as you have 20 consecutive losing trades – 1 chance in 1,048,576 (about a million)
If you risk 2% – you will wipe out as soon as you have 50 consecutive losing trades – 1 chance in 1,125,899,906,842,620 or about a BILLION!
Somewhere between 2-5% is the maximum amount you can risk
The average bank trader or hedge fund only risks 1% to 1 ½ % of the account.
If you can’t be successful trading a micro account, don’t go up to a mini account. Don’t go up to a standard account if you can’t make a micro or mini account work.
PLAN YOUR TRADE AND TRADE YOUR PLAN
[quote=johninthai;2127843]
If you risk 50% – you will wipe out as soon as you have 2 consecutive losing trades – 1 chance in 4
If you risk 25% – you will wipe out as soon as you have 4 consecutive losing trades – 1 chance in 16
If you risk 10% – you will wipe out as soon as you have 10 consecutive losing trades – 1 chance in 1024
If you risk 5% – you will wipe out as soon as you have 20 consecutive losing trades – 1 chance in 1,048,576 (about a million)
If you risk 2% – you will wipe out as soon as you have 50 consecutive losing trades – 1 chance in 1,125,899,906,842,620 or about a BILLION!
Somewhere between 2-5% is the maximum amount you can risk
The average bank trader or hedge fund only risks 1% to 1 ½ % of the account.
If you can’t be successful trading a micro account, don’t go up to a mini account. Don’t go up to a standard account if you can’t make a micro or mini account work.
PLAN YOUR TRADE AND TRADE YOUR PLAN
[quote=johninthai;2127843]
you'll be welcome at my traders pardise in Thailand
Join me, already here. Trading hours are very convenient wake up at 7am with Asia and go to bed half way NY 11pm local time and still get 7 hours sleep.
- #103,863
- Jul 25, 2008 12:30am Jul 25, 2008 12:30am
- Joined May 2007 | Status: ??? | 1,265 Posts
oh look, i got a long open at 211.60. how cool is that?
If it goes back down it would not be as cool. But still cooler then lilmoe
Que
- #103,864
- Jul 25, 2008 12:32am Jul 25, 2008 12:32am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
oh look, i got a long open at 211.60. how cool is that?
i was just wondering... how many of you know what this chart means?
- #103,868
- Jul 25, 2008 12:37am Jul 25, 2008 12:37am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
mornin' pips...downmove not over yet...possible retrace but i'm expecting a bloodbath on monday...210.50 first but i'm expecting it to go lower....baby
your words have reached my heart bro
however, if 211.50 is not taken out on a 4h level, i'm afraid the bounce will start.
- #103,869
- Jul 25, 2008 12:37am Jul 25, 2008 12:37am
- Joined Apr 2008 | Status: Trader | 7,674 Posts
OK, my name is Piters, I am addicted to GY, and I opened Long position TOO !
- #103,871
- Jul 25, 2008 12:39am Jul 25, 2008 12:39am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
- #103,873
- Jul 25, 2008 12:40am Jul 25, 2008 12:40am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
oh look, i got a long open at 211.60. how cool is that?
i was just wondering... how many of you know what this chart means?
if this confirms up, hell, it might reach 217...... DAMN!!!!!! party pooper!
- #103,877
- Jul 25, 2008 12:43am Jul 25, 2008 12:43am
- Joined Sep 2007 | Status: gone fishing | 5,782 Posts
- #103,878
- Jul 25, 2008 12:43am Jul 25, 2008 12:43am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts