Jesus Christ is my only Lord !
- #22,382
- Aug 21, 2008 10:34am Aug 21, 2008 10:34am
I did believe we'd see a range but also said we are long overdue for the much hyped bounce.
Let me be sincere for a moment. Congrats on your recent success. This isn't a competition (I win most of those) this is a forum for learning how to trade this pair.
Let me make one serious suggestion. Change your money management tactics now. Apparently you have some very good gains. If you trade 1% or less you'll be in a position to absorb a draw down that is inevitable.
Mike
It seems 5ysfx has gotten many trades right till this point, if not all , and it is only time till he gets one wrong.
I consider money management very important.
On august 1 I shorted usd/cad at 1.0186. I then took a loss for 80 pips. You all can go see where the price went. The loss was small but would have been huge if I held the trade.
- #22,383
- Aug 21, 2008 10:34am Aug 21, 2008 10:34am
- Joined Jul 2008 | Status: Invincible | 3,619 Posts
Oil rise and pressured the USD just because rising tensions between US and Russia in Poland. What a total rubbish. Short EU.
If technical correction is making someone has to find fundies or news reason hehe
Every single time
- #22,384
- Edited 10:36am Aug 21, 2008 10:34am | Edited 10:36am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
Jesus Christ is my only Lord !
- #22,385
- Aug 21, 2008 10:35am Aug 21, 2008 10:35am
- Joined Mar 2007 | Status: Trader | 3,709 Posts
Ya this is not a competition this forum is for learning purpose mostly.
So pls stop make such sugestion like "too many sh*it at one chart"
Dont worry about my money manegement.
As i said before i risk only 1% for first open trade nex trade is well secured by previews trade and so on.
(sometimes when i see reversal is coming i start build my positions and risk 2-5% overal for multiple positons)
When trend comes i got 1% money engage and 200% (monthly average) reward.
Thats the way to make money in forex at laest for me.No advise is needed in the MM matter.
I am Mike too hehe
There will be some joking I can't stop that.
The chart comment was levity.
I don't care how much you have on your chart - if you can win consistently over a period of time keep it as messy as you want.
The key is consistency.
- #22,387
- Aug 21, 2008 10:37am Aug 21, 2008 10:37am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
In Poland, u should read again.
Jesus Christ is my only Lord !
- #22,388
- Aug 21, 2008 10:38am Aug 21, 2008 10:38am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
on 15 min chart
this is a classic bull flag .. break above the flag it is a long,
Note the candles on my chart these are not your regular candles ....in an uptrend no wicks on the bottom ....Heikin Ashi candles are what they are.
Blogging daily now at www.volume.zone
- #22,390
- Aug 21, 2008 10:39am Aug 21, 2008 10:39am
- Joined Jul 2008 | Status: Invincible | 3,619 Posts
There will be some joking I can't stop that.
The chart comment was levity.
I don't care how much you have on your chart - if you can win consistently over a period of time keep it as messy as you want.
The key is consistency.
it seems we have similar psyche and souls
Do u like competition ? hehe (retoric quest.)
short in play till figure
- #22,393
- Edited 10:42am Aug 21, 2008 10:40am | Edited 10:42am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
Jesus Christ is my only Lord !
- #22,394
- Aug 21, 2008 10:44am Aug 21, 2008 10:44am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #22,395
- Edited 10:48am Aug 21, 2008 10:46am | Edited 10:48am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
Jesus Christ is my only Lord !
- #22,396
- Edited 11:02am Aug 21, 2008 10:49am | Edited 11:02am
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
{Promotion Removed}
- #22,397
- Aug 21, 2008 10:51am Aug 21, 2008 10:51am
- Joined Mar 2007 | Status: Trader | 3,709 Posts
You are right acumen, money management is key. I don't think he will listen to you right now but he will come back to regret it.
It seems 5ysfx has gotten many trades right till this point, if not all , and it is only time till he gets one wrong.
I consider money management very important.
On august 1 I shorted usd/cad at 1.0186. I then took a loss for 80 pips. You all can go see where the price went. The loss was small but would have been huge if I held the trade.
Trade Your Way to Financial Freedom by Van K Tharp.
He (Tharp) dispels many market rumors and highlights several key ingredients that very successful traders have.
It's an easy read - It will hold your attention and educate you. He's done some intensive research.
Ed Seykota called it one of the 3 best books ever written.
- #22,398
- Aug 21, 2008 10:55am Aug 21, 2008 10:55am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
Jesus Christ is my only Lord !