well its good to see such profits are attainable. Although it makes me want to use more lots now! i used 0.02 on that last short scalp and had a buy limit waiting to be hit before the huge move up for only 0.05 lot.
anyway back to the real world now.
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do what you are comfortable with and it'll grow with confidence and experience. I don't think people should post their results here anyway, especially if that's all we see. It doesn't help
she needs to break 4580 support and you will be ok. Problem is seems you do not have a specific plan. Lack of money management: Trading Forex is a question of what the odds are of being right. This is known as risk/reward ratio. Good money management means you know your profit objective and the odds of being right or wrong and know how to control your risks with stops
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To design a plan you need to understand first what gear or leverage you will be using. If your trading $100,000 and use 1 standard lot that is 1:1 leverage. Trading $100,000 equity and using 1 standardlot whcih equals $100,000 trading. With a 100 pip stop and 100 pip target this is a risk reward of 1:1. Means your risking $1000 to make $1000 or risking 1% to make 1%. Best to have a risk reward at least 1:1.5 as trader because it means you can be wrong more than right and still have opportunity to make money every month. What i do is target 1% a week and have hit or exceeded past 3 years becauses it minimizes equity swings and drawdowns but keeps a gradual equity curve which is easiest to tolerate. Hope this helps you.
she needs to break 4580 support and you will be ok. Problem is seems you do not have a specific plan. Lack of money management: Trading Forex is a question of what the odds are of being right. This is known as risk/reward ratio. Good money management means you know your profit objective and the odds of being right or wrong and know how to control your risks with stops
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Thanks Prof,
I am really amazed how u noticed my weakness at a glance. The problem is that i do not seem to rely on my methods these days due to the market condition. Hope to be myself very soon....but for now....let me enjoy the experts around me. Thanks. Besides, i do not enter such trades with my usual lot size.
Thanks Prof,
I am really amazed how u noticed my weakness at a glance. The problem is that i do not seem to rely on my methods these days due to the market condition. Hope to be myself very soon....but for now....let me enjoy the experts around me. Thanks. Besides, i do not enter such trades with my usual lot size.
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Changing your plan during trade: When you are most exposed to emotion and greed, you are much more likely to change your plan. If you lift your stop or change your target, you have no plan.
Lack of money management: Trading Forex is a question of what the odds are of being right. This is known as risk/reward ratio. Good money management means you know your profit objective and the odds of being right or wrong and know how to control your risks with stops Changing your plan during trade: When you are most exposed to emotion and greed, you are much more likely to change your plan. If you lift your stop or change your target, you have no plan.
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Lack of trading plan: Some traders do not know what to do if they are wrong nor what to do if they are right. The large floating profit they make may often turn into a large loss, because they did not know when to get out. Trade defensively and always know your downside and what you are at risk of losing.
Thanks Prof,
I am really amazed how u noticed my weakness at a glance. The problem is that i do not seem to rely on my methods these days due to the market condition. Hope to be myself very soon....but for now....let me enjoy the experts around me. Thanks. Besides, i do not enter such trades with my usual lot size.
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Prof4x made a really good call last week, and was blasted for it... (which turrned out to be an excellent trade) he's a great chartist ... and i follow his views.
I'm in agreement with Infinity about a price of 148/149 being hit sometime soon. 148 is the 62ema on my daily, which it hit once in Dec and once in Jan
Prof4x made a really good call last week, and was blasted for it... (which turrned out to be an excellent trade) he's a great chartist ... and i follow his views.
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thank you sir been in the trenches for years and glad to help
Cable Update (GBPUSD)
