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Cable Update (GBPUSD)

  • #105,881
  • Dec 10, 2008 10:09pm Dec 10, 2008 10:09pm
Quoting manize
How many % remaining margin - all price been opening ?
Right now my ML is 4000 ++ %
  • #105,882
  • Dec 10, 2008 10:10pm Dec 10, 2008 10:10pm
Congrats.........
Quoting eohater
Guys, I have to tell you! I have it made right now. I'm sitting on the beach, listening to the water and trading. This is the freakin life!
  • #105,883
  • Dec 10, 2008 10:10pm Dec 10, 2008 10:10pm
I see down red colour in 1h chart.
Give me patience
  • #105,884
  • Dec 10, 2008 10:10pm Dec 10, 2008 10:10pm
Quoting eohater
Guys, I have to tell you! I have it made right now. I'm sitting on the beach, listening to the water and trading. This is the freakin life!
Way to go ! Enjoy !
  • #105,885
  • Dec 10, 2008 10:11pm Dec 10, 2008 10:11pm
Quoting eohater
Guys, I have to tell you! I have it made right now. I'm sitting on the beach, listening to the water and trading. This is the freakin life!
With family bro ? How nicely the life like yours !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #105,886
  • Dec 10, 2008 10:13pm Dec 10, 2008 10:13pm
Quoting manize
With family bro ? How nicely the life like yours !
The family is in bed atm! I'm just chillin, drinking some cold beer, and short from 4875.
Just digging in the trenches like everyone else!
  • #105,887
  • Dec 10, 2008 10:14pm Dec 10, 2008 10:14pm
Quoting eohater
Guys, I have to tell you! I have it made right now. I'm sitting on the beach, listening to the water and trading. This is the freakin life!
Now that's what I'm talking about. Can I ask you what's your profit is for the year? I'm really considering doing this for a living. How long did it take you to get to this point? Did you take any courses?

Oh and please hug a palm tree for me

Cheers
  • #105,888
  • Dec 10, 2008 10:15pm Dec 10, 2008 10:15pm
Quoting gagakrimba
Right now my ML is 4000 ++ %
I don't ask the amount of money or the blown account. I mean, like me I use 10% margin each trade, then the remaining margin 90%. Just for share maybe I am wrong MM.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #105,889
  • Dec 10, 2008 10:16pm Dec 10, 2008 10:16pm
Quoting macockiner2
Now that's what I'm talking about. Can I ask you what's your profit is for the year? I'm really considering doing this for a living. How long did it take you to get to this point? Did you take any courses?

Oh and please hug a palm tree for me

Cheers

Dont do this fulltime until you can consistantly make pips for 12 months straight.

300 pips or more a week for 12 months then go fulltime.
  • #105,890
  • Dec 10, 2008 10:22pm Dec 10, 2008 10:22pm
Quoting steelhead
Dont do this fulltime until you can consistantly make pips for 12 months straight.

300 pips or more a week for 12 months then go fulltime.
300 pips a week!, That's a living If i can ask what amount do you recommend for opening account? And how do you feel about mini & micro accounts??

Cheers
  • #105,891
  • Dec 10, 2008 10:25pm Dec 10, 2008 10:25pm
Quoting macockiner2
300 pips a week!, That's a living If i can ask what amount do you recommend for opening account? And how do you feel about mini & micro accounts??

Cheers

To trade fulltime you should start with a bare min of 50k.

You wont be trading fulltime with a michro account mini most likely either
  • #105,892
  • Dec 10, 2008 10:27pm Dec 10, 2008 10:27pm
Quoting macockiner2
Now that's what I'm talking about. Can I ask you what's your profit is for the year? I'm really considering doing this for a living. How long did it take you to get to this point? Did you take any courses?

Oh and please hug a palm tree for me

Cheers
Steelhead is right about making sure your profitable before you quit your day job.

I've been doing this for a while. As to courses, oh yeah, I've taken courses, paid for trading platforms and snared into all the traps out there. The best advice I can give you is to study, study, study, demo, demo, demo. You need to find a system that fits YOU.

As to my profit per year, that's a bit personal. I can say that if I didn't work in addition to trading, that I would live a very comfortable life. Let me put it this way, I own my own business outside of trading. I haven't taken a paycheck from my company in over 2 years. My trading pays for my life and funds my company when it's short on funds. Now your going to ask why I still have my company and not take a paycheck. It's because I have employees that depend upon me for a job and paycheck. Their like family to me. My company is what gave me the opportunity to trade. In today's economy, I feel like I'm giving back by giving jobs to people.

Trading for a living can be done, but you need a plan.

Trade well!

EO
Just digging in the trenches like everyone else!
  • #105,893
  • Dec 10, 2008 10:32pm Dec 10, 2008 10:32pm
Quoting eohater
Steelhead is right about making sure your profitable before you quit your day job.

I've been doing this for a while....
Sorry didn't want to get too personal, just trying to find out if it can be done for a living. I really appreciate the advice, you sound like a rare breed and one hell of a boss, well done, good morals are hard to find these days.

With that said I have to say there are some amazing folks on this site who are always there to give us newbies a helping hand - Thanks to all of you

Cheers
  • #105,894
  • Dec 10, 2008 10:36pm Dec 10, 2008 10:36pm
Quoting macockiner2
Sorry didn't want to get too personal, just trying to find out if it can be done for a living. I really appreciate the advice, you sound like a rare breed and one hell of a boss, well done, good morals are hard to find these days.

With that said I have to say there are some amazing folks on this site who are always there to give us newbies a helping hand - Thanks to all of you

Cheers
Trading for the living can be done, but it cannot be done overnight. It takes dedication, patience and the ability accept when your wrong. Trading is nothing personal, it's business. Just like when your at work and you make a mistake, so what, you f*cked up, you admit it, you move on. You have to take this the same way. Bad trades don't translate that your a bad person.
Just digging in the trenches like everyone else!
  • #105,895
  • Dec 10, 2008 10:39pm Dec 10, 2008 10:39pm
Quoting eohater
Trading for the living can be done, but it cannot be done overnight. It takes dedication, patience and the ability accept when your wrong. Trading is nothing personal, it's business. Just like when your at work and you make a mistake, so what, you f*cked up, you admit it, you move on. You have to take this the same way. Bad trades don't translate that your a bad person.
If i can ask you, when you first started trading with real money did you jump right in to standard lots or did you start getting your feet wet with the mini or micro lots?

Cheers
  • #105,896
  • Dec 10, 2008 10:42pm Dec 10, 2008 10:42pm
Quoting macockiner2
If i can ask you, when you first started trading with real money did you jump right in to standard lots or did you start getting your feet wet with the mini or micro lots?

Cheers
I never traded micro lots, I started trading mini's. Now I'm upto 8 standard lots per trade.

You need to consider your risk:reward ratio. You don't want to jump into a trade a blow your account with one trade. Your account balance needs to be able to sustain losses. Losses happen, prepare your self for that. Money Management is key.
Just digging in the trenches like everyone else!
  • #105,897
  • Dec 10, 2008 10:44pm Dec 10, 2008 10:44pm
Quoting macockiner2
If i can ask you, when you first started trading with real money did you jump right in to standard lots or did you start getting your feet wet with the mini or micro lots?

Cheers

The question and things you should be worried about my friend is consistancy. To many times newbies get cought up in money and pips. That is not the key consistancy is. Start being consistant the pips and money will follow.

Eoh is right this is not a get rich deal its slow and painful. Those who can endure and learn along the way will succeed.
  • #105,898
  • Dec 10, 2008 10:48pm Dec 10, 2008 10:48pm
Quoting steelhead
Dont do this fulltime until you can consistantly make pips for 12 months straight.

300 pips or more a week for 12 months then go fulltime.
it's not about pips, remember someone's 10 pips might be equal to your 300 pips..

it's about what % ROI can you make consistently every month
  • #105,899
  • Dec 10, 2008 10:50pm Dec 10, 2008 10:50pm
Quoting steelhead
The question and things you should be worried about my friend is consistancy. To many times newbies get cought up in money and pips. That is not the key consistancy is. Start being consistant the pips and money will follow.

Eoh is right this is not a get rich deal its slow and painful. Those who can endure and learn along the way will succeed.
Yeah i totally agree.
I've blown my a/c a couple of time too holding on to bad entries and hoping for a reversal.
  • #105,900
  • Dec 10, 2008 10:52pm Dec 10, 2008 10:52pm
all great advice - thanks
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