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  • #32,321
  • Sep 19, 2008 9:48am Sep 19, 2008 9:48am
Quoting seesaw
Looks like it wants to aim for the top of the trend channel at 46! we shall see...buying more if it can sustain 45
SL at 4392 and Limit at 4465. hopefully i dont get stopped out. lemme know what you think about my stops and limits please. i wanna see if im drawing these correctly. time for class!
  • #32,322
  • Sep 19, 2008 9:48am Sep 19, 2008 9:48am
thank you guys for your support...i post what i post not only to confirm my observations with others opinions but also because the real world is ridiculous to me. I went to one forex convention when i first started and they were all giving their opinions and blah blah but never really stating their methods....to know their methods you have to buy a "5000dollar cd package" or go to expensive seminars and so on. Trading live is hard enough as is knowing all there is to know...lessons for it should be free in my opinion...shoot if their so good at what they do they should be rich just off trading...not trying to sell their lame programs
Different opinions highly valued, ignorant to slander.
  • #32,323
  • Sep 19, 2008 9:49am Sep 19, 2008 9:49am
1 min/5 min chart. 5-8-13 ema.rsi 14.since 12:10 this am 593 pips give or take a few here or there!scalping is the only way @ $2 per pip!!!!
  • #32,324
  • Sep 19, 2008 9:58am Sep 19, 2008 9:58am
Quoting psiholog
thank you guys for your support...i post what i post not only to confirm my observations with others opinions but also because the real world is ridiculous to me. I went to one forex convention when i first started and they were all giving their opinions and blah blah but never really stating their methods....to know their methods you have to buy a "5000dollar cd package" or go to expensive seminars and so on. Trading live is hard enough as is knowing all there is to know...lessons for it should be free in my opinion...shoot if their so good at what they do they should be rich just off trading...not trying to sell their lame programs
You are wise for your age...

Just one advice - Stay humble when you become consistant in this market.
  • #32,325
  • Sep 19, 2008 10:00am Sep 19, 2008 10:00am
Quoting SeaPip
I didn't know shoulder can walk
LOL...In forex, not only it can walk but hit you where it hurts the most.
  • #32,326
  • Sep 19, 2008 10:01am Sep 19, 2008 10:01am
Doing +100 pips a day is NOT impossible... overall after the huge downside correction on the usd lately...

yeah... consistently meaning everyday of every month of every year is not possible.. but yes it can be acheived...

and as this guy said... sometimes market takes some pips back.. that is completely normal...

keep up that good job psiholog
  • #32,327
  • Sep 19, 2008 10:02am Sep 19, 2008 10:02am
Quoting aalam
You are wise for your age...

Just one advice - Stay humble when you become consistant in this market.
will always be..i am a nice wolf
Different opinions highly valued, ignorant to slander.
  • #32,328
  • Sep 19, 2008 10:03am Sep 19, 2008 10:03am
100 pips a day is quite possible. I average abotu 65 pips a day. see attachment of PNL
Notice the heavy loss taken at sunday open (-370 due to being over leveraged)
Attached File(s)
File Type: xls MyForexAccount 1 .xls   290 KB | 472 downloads
  • #32,329
  • Sep 19, 2008 10:04am Sep 19, 2008 10:04am
out for the day guys, $175 in the positive, $900 for the week so before I get greedy (which all too often happens) I will wish you all a good weekend and thanks to many of you who are on right now for helping me to be successful.

Sincerely,
Michael
  • #32,330
  • Sep 19, 2008 10:04am Sep 19, 2008 10:04am
Quoting monikroc
1 min/5 min chart. 5-8-13 ema.rsi 14.since 12:10 this am 593 pips give or take a few here or there!scalping is the only way @ $2 per pip!!!!

... how can you do it ... please an explanation of your strategy .... I'm still learning ...

If your lot size ONLY below 1 standard lots should be ok ... execution very fast ... the problem starts if the lot size more than 5 standard lots ... you'll have big problems with your strategy expecially in 1M/5M up and down so fast because of slippage ... or you have a good broker for it for big lots for scalpers ....

thanks .....
  • #32,331
  • Sep 19, 2008 10:08am Sep 19, 2008 10:08am
Quoting psiholog
consistency is something i am still struggling with. i have traded live for 10months and had margin calls until a few months ago. since than i have my good days and bad days. i do average well over 150 pips per day usually. its just that somedays i give it all back..sunday is a great example...rode the bullwave up...then traded against the trend for the rest of the day(clearly this kind of volatily is something ive not experienced in my short trading experience.) it somewhat repeated itself yesterday. but overall im surviving in this crazy market and soon enough ill make a decent living off forex. my plan...become a millionaire by age 30...by age 40 have my own books and so on

if youve seen "pursuit of happyness" i am exactly like that dude the only difference is im not homeless and i dont have any kids...lol
Very good.

I have seen that movie... good movie... Will Smith and his son are great.

Keep plugging away.

Don't listen to those over critical of your dream... me especially.

Mike
  • #32,332
  • Sep 19, 2008 10:34am Sep 19, 2008 10:34am
Quoting monikroc
1 min/5 min chart. 5-8-13 ema.rsi 14.since 12:10 this am 593 pips give or take a few here or there!scalping is the only way @ $2 per pip!!!!
500 PIPS is an outlandish claim.

m
  • #32,333
  • Sep 19, 2008 10:40am Sep 19, 2008 10:40am
Let's see if this H&S completes by next week... target ofter breaking the nick would be @ 3900 area
Attached Image (click to enlarge)
Click to Enlarge Name: eu-hs-4h.jpg Size: 183 KB
  • #32,334
  • Sep 19, 2008 10:43am Sep 19, 2008 10:43am
Pips are all well and good. Cash money is what the stores take. And it is percent return on funds invested on a monthly/quarterly/yearly basis that matter the most.
  • #32,335
  • Sep 19, 2008 10:45am Sep 19, 2008 10:45am
Quoting Xaron
My gold longs come back as well. Fine.

Always remember, trade small. Even with a leverage of 1:1 you can make more than 100% per year...
hi how r u
dont u trade M5 system anymore? i dont see ur posts there
  • #32,336
  • Sep 19, 2008 10:52am Sep 19, 2008 10:52am
Let me say it this way...

When I talk about 100/day I don't mean it's impossible every now and then.

I mean it's impossible to do with any consistency.

If you're up 500/PIPS in a week and then give it back the next week you've accomplished nothing.

Consistent profits... no matter how small... day after day...week after week is how many traders maintain there longevity in this arena.
  • #32,337
  • Sep 19, 2008 10:53am Sep 19, 2008 10:53am
Quoting SunTrader
Pips are all well and good. Cash money is what the stores take. And it is percent return on funds invested on a monthly/quarterly/yearly basis that matter the most.
Where have you been?

QUOTE OF THE DAY.

m
  • #32,338
  • Sep 19, 2008 10:56am Sep 19, 2008 10:56am
Quoting acumen
500 PIPS is an outlandish claim.

m
it wasnt 500 it was 593
Don't chase the market, Let the market come to you
  • #32,339
  • Sep 19, 2008 11:04am Sep 19, 2008 11:04am
it looks like there may be one bull rally left if that trendline breaks with market closing at highs of the week possibly....1.4435 is the value to watch
if not...too slow to do anything

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 38 KB


ugh messed up bottom trendline...soo tired...anyways the idea is clear
Different opinions highly valued, ignorant to slander.
  • #32,340
  • Sep 19, 2008 11:07am Sep 19, 2008 11:07am
Quoting psiholog
it looks like there may be one bull rally left if that trendline breaks with market closing at highs of the week possibly....1.4435 is the value to watch
if not...too slow to do anything

Attachment

ugh messed up bottom trendline...soo tired...anyways the idea is clear
Damn did not catch this move. Do you think it will go up on Sun?
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