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  • #30,741
  • Sep 16, 2008 10:21am Sep 16, 2008 10:21am
Quoting acumen
1) rate is cut - NO WAY.

not so probable IMO, but if that FED move happens EUR will get higher instantly
I kind of agree with this but there is one but. Only way to fight deflation is to add money to the market and lowering rates is one of the easiest ways to do it. Cpi was negative.

You probably all know where deflation leads if it begins to feed itself.
  • #30,742
  • Sep 16, 2008 10:23am Sep 16, 2008 10:23am
Quoting don.key
Welcome to the real world. I had my rude awakening too. Demo and Life have little in common. You will loose a lot of money before you can do something meaningful (if at all)
This is why money management is so important. Let say you are trading a 1,000 dollar account with micro($10) lots. Do you know how many losses in a row you can take using a 1% stop? If your average stop is 30 pips you can take a hundreds losses in a row before you meet Mr. Margin Call. In fact if you have the time open a spread sheet and calculate it for your self, you will probably be surprised.

Forex + get rich fast = get poor faster

P.S. I don't think the FED will cut rates, well at least not this month.
  • #30,743
  • Sep 16, 2008 10:24am Sep 16, 2008 10:24am
Well, it is heading up, but not enough yet for me. Need it to get back to around 1.4250. Not sure that is going to happen, but sure hope it does!
  • #30,744
  • Sep 16, 2008 10:27am Sep 16, 2008 10:27am
Quoting scuturici
Haw you are now long or short and from which point ?!
I'm long from 1.4250... unfortunately!
  • #30,745
  • Sep 16, 2008 10:29am Sep 16, 2008 10:29am
And you're close to a margin call?! Man, you need to get ur risk management right.
  • #30,746
  • Sep 16, 2008 10:29am Sep 16, 2008 10:29am
Quoting dougdude9
I'm long from 1.4250... unfortunately!
Long from 1.4120, Maybe I should close?
Are you or are you OUT?
  • #30,747
  • Sep 16, 2008 10:31am Sep 16, 2008 10:31am
Quoting dougdude9
Well, it is heading up, but not enough yet for me. Need it to get back to around 1.4250.
One question... you demoed for 2 years, is your lot size and SL on this trade the same as your demo trades?
FUBAR...
  • #30,748
  • Sep 16, 2008 10:33am Sep 16, 2008 10:33am
Quoting JodyOng
And you're close to a margin call?! Man, you need to get ur risk management right.

I'm nowhere close to a margin call. I think some other guy was. However, I'm still not looking to great.
  • #30,749
  • Sep 16, 2008 10:34am Sep 16, 2008 10:34am
Which one is it?
Are you or are you OUT?
  • #30,750
  • Sep 16, 2008 10:34am Sep 16, 2008 10:34am
AIG might get FED help
Barclays seems to be interested in LB

So there is some rationale to this south move after all.
  • #30,751
  • Sep 16, 2008 10:34am Sep 16, 2008 10:34am
Quoting Russell
This is why money management is so important. Let say you are trading a 1,000 dollar account with micro($10) lots. Do you know how many losses in a row you can take using a 1% stop? If your average stop is 30 pips you can take a hundreds losses in a row before you meet Mr. Margin Call. In fact if you have the time open a spread sheet and calculate it for your self, you will probably be surprised.

Forex + get rich fast = get poor faster

P.S. I don't think the FED will cut rates, well at least not this month.
Most won't listen... but is always good to try.

m
  • #30,752
  • Sep 16, 2008 10:34am Sep 16, 2008 10:34am
Quoting ak4x
One question... you demoed for 2 years, is your lot size and SL on this trade the same as your demo trades?

Yes, it is very similar.
  • #30,753
  • Sep 16, 2008 10:35am Sep 16, 2008 10:35am
Quoting dougdude9
I'm long from 1.4250... unfortunately!
The most important things I learned from this forum was to always not us more than 1% of account and always set sl. I learned the hard way. I haven't blown my account yet, but I almost took it out. With the help form the people in the forum I was able to bring it back up and let hope it stays that way.
  • #30,754
  • Sep 16, 2008 10:35am Sep 16, 2008 10:35am
Quoting merouane
I bought at 1.4120 and now I'm up to 1.4170

Nice. I took the same trade. .618 retracement level on the 120Min and exited just below the 200sma on the 60 min. I didn't get as good of a fill, and got out a few pips early, so didn't get the 50 pips you got, but only a few less.
  • #30,755
  • Sep 16, 2008 10:35am Sep 16, 2008 10:35am
Quoting merouane
Which one is it?
It's STAY THE FUK OUT TIME.
  • #30,756
  • Sep 16, 2008 10:38am Sep 16, 2008 10:38am
Quoting dougdude9
Yes, it is very similar.
so as a new trader on first day of real money, your SL is in excess of 100 pips...

Don't know your % of acount exposure, but you might want to rethink that part of your plan, particularly in these conditions if you're not already.
FUBAR...
  • #30,757
  • Sep 16, 2008 10:38am Sep 16, 2008 10:38am
Quoting videoman555
why is it going short now???? long euro!!!!


the problem with all these indicators like mac d fibos stoch is there still has to be a setup for you to go long or short. Just because an indicator says do this or that doesnt mean a thing.

Indicators are non sense. If there are not buyers or sellers coming into the market at the levels of those indicators then they arent worth crap.

That is what people in here don't understand there still has to be a setup. Until they understand this it will be a long inconsistant trading life.
  • #30,758
  • Sep 16, 2008 10:38am Sep 16, 2008 10:38am
All the moves in the market now are related to the stock market. keep an eye out for that.
  • #30,759
  • Sep 16, 2008 10:43am Sep 16, 2008 10:43am
Quoting forexef
Nice. I took the same trade. .618 retracement level on the 120Min and exited just below the 200sma on the 60 min. I didn't get as good of a fill, and got out a few pips early, so didn't get the 50 pips you got, but only a few less.
Good trade, What's next, Buy on the Dip?
Are you or are you OUT?
  • #30,760
  • Sep 16, 2008 10:44am Sep 16, 2008 10:44am
Quoting merouane
Good trade, What's next, Buy on the Dip?
It looks like it's going down down, no time to buy.
Are you or are you OUT?
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