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  • #62,181
  • Feb 5, 2009 4:28pm Feb 5, 2009 4:28pm
imho it might be a bear flag forming up ready for a upside break above 1.200 resistance.
Nolite dormiens pungere ursum. -- Latan Proverb.
  • #62,182
  • Feb 5, 2009 4:32pm Feb 5, 2009 4:32pm
Quoting lindee
That's what I have...4HR.
lindee
Same with some TLs.
Attached Image
/ ... clarifying decisions ... /
  • #62,183
  • Feb 5, 2009 4:37pm Feb 5, 2009 4:37pm
Quoting ak4x
I agree, I've tried applying many times at various institutions, but I always get the same response... "OVERQUALIFIED"

Maybe they have one of those "How To" books.. like "The Crazy Manual for Dummies" or something.

Maybe an E-Book so I wouldn't have to even leave the cave here. Hmmnn...
damn i use lines too...i guess im a freak too. im super freaky
those who can, do. those who cant, talk about those who can
  • #62,184
  • Feb 5, 2009 4:46pm Feb 5, 2009 4:46pm
I'm glad I didn't trade today
I expected eur to rise with this news results.... mmmm still watching what's going on...
  • #62,185
  • Feb 5, 2009 4:46pm Feb 5, 2009 4:46pm
We've a reverse H&S..

If 1.2760 break cancels this view..

Attached Image (click to enlarge)
Click to Enlarge Name: h&s.gif Size: 22 KB

  • #62,186
  • Feb 5, 2009 4:49pm Feb 5, 2009 4:49pm
Quoting emda
I'm glad I didn't trade today
I expected eur to rise with this news results.... mmmm still watching what's going on...
Today was a great day for trading the range.
Probability Professor
  • #62,187
  • Feb 5, 2009 5:01pm Feb 5, 2009 5:01pm
Quoting Galation
Today was a great day for trading the range.
i agree with you dude. There were many great trades today. at one point i loss -30 pips but i managed to get a short from 1.2885 and gain that right back.
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #62,188
  • Feb 5, 2009 5:30pm Feb 5, 2009 5:30pm
Hi guys,

I see many good traders around. You all give good advice and I really enjoy reading all your posts.

I am a beginner in FX. I still trade Demo.
I am curious about one thing... what is the average monthly return (in %) of professional trader? I do know that return totally depends on the risk you take. But still... taking into account reasonably safe strategy (e.g. not to risk more than 1% or 0,5% of account with a single trade) how much do you earn?

PS the reason I ask is that I learn money management. I also want to compare my expectation with reality of FX .

Thanks,
Sergei
  • #62,189
  • Feb 5, 2009 5:31pm Feb 5, 2009 5:31pm
Quoting chuvaki
Hi guys,

I see many good traders around. You all give good advice and I really enjoy reading all your posts.

I am a beginner in FX. I still trade Demo.
I am curious about one thing... what is the average monthly return (in %) of professional trader? I do know that return totally depends on the risk you take. But still... taking into account reasonably safe strategy (e.g. not to risk more than 1% or 0,5% of account with a single trade) how much do you earn?

PS the reason I ask is that I learn money management. I also want to compare my expectation...

it depends on the size of your account how much margin you use and how much profitable trades you make
  • #62,190
  • Feb 5, 2009 5:32pm Feb 5, 2009 5:32pm
Quoting chuvaki
Hi guys,

I see many good traders around. You all give good advice and I really enjoy reading all your posts.

I am a beginner in FX. I still trade Demo.
I am curious about one thing... what is the average monthly return (in %) of professional trader? I do know that return totally depends on the risk you take. But still... taking into account reasonably safe strategy (e.g. not to risk more than 1% or 0,5% of account with a single trade) how much do you earn?

PS the reason I ask is that I learn money management. I also want to compare my expectation...
PS Also I would be very grateful if you could share some principles of your money management strategy.
  • #62,191
  • Feb 5, 2009 5:33pm Feb 5, 2009 5:33pm
Quoting chuvaki
PS Also I would be very grateful if you could share some principles of your money management strategy.

www.BabyPips.com will help you out alot
  • #62,192
  • Feb 5, 2009 5:43pm Feb 5, 2009 5:43pm
Quoting chuvaki
Hi guys.. the reason I ask is that I learn money management. Sergei
Instead of re-inventing the wheel here while we're trying to make those pips you're asking about, either before, after, or during Babypips, go to the first Sticky in Rookie Discussions here at the Fabulous Factory and read real stuff from real traders about real trading...

Bookmark this...
http://www.forexfactory.com/showthread.php?t=39514

Amazing!! The very first post is on your topic of choice, "Money Management" How bout THAT?? Does this place deliver or WHAT??

Enjoy and learn well so that you can Trade Well.
FUBAR...
  • #62,193
  • Feb 5, 2009 5:50pm Feb 5, 2009 5:50pm
Quoting chuvaki
PS Also I would be very grateful if you could share some principles of your money management strategy.
I think your MM is going to vary depending on your percentage wins, but here is mine. Btw, I am not a professional trader. I am barely making the transition now from Demo trader to Live trader.

I risk 2.5% per trade. I also use a max 50 pip SL. So let's say I have a $10,000 account (my standard demo account). I would do .50 lots per trade. That way if I lose 50 pips it is only 2.5% of my $10K. I keep this same lot size for the whole week. My weekly goal is 150 pips. So let's say I make my 150 pips at $5/pip, my account will have increased by $750 to $10,750. The next week I then would do .53 lots (10750/20000=.53). As long as I keep making 150 pips per week my account increases and I keep my risk percentage the same. This also allows you to take your $$$ win for the week and divide by lot size for the week and see how many pips yo made that week.

Another thing, I floundered around for months and blew up serveral demo accounts and it was not until I sat down and wrote out a MM plan I liked and worked for me that my demo accounts started to show progress.

Now about that EU.....
  • #62,194
  • Feb 5, 2009 6:14pm Feb 5, 2009 6:14pm
Quoting chuvaki
PS Also I would be very grateful if you could share some principles of your money management strategy.
There is a book you can get "The 21 Irrefutable Truths of Trading" by John Hayden. It covers everything you are asking about.
  • #62,195
  • Feb 5, 2009 6:32pm Feb 5, 2009 6:32pm
Quoting Galation
Today was a great day for trading the range.
Could you post a chart of your range and possibly some examples to show trades - i'm trying to get better at trading ranges but i just cant seem to get the right spots - and i'll either pick the spots when breakouts occur or wait to confirm no breakout and get in too late.

Much appreciated if you have a chance,

cheers
  • #62,196
  • Feb 5, 2009 7:00pm Feb 5, 2009 7:00pm
Sorry - nothing to do with market but funny:

http://www.321gold.com/mustread/spot...0_grrrrrr.html
  • #62,197
  • Feb 5, 2009 7:00pm Feb 5, 2009 7:00pm
i think the euro is going to have a short bull movment b4 it drops to everyones target of 2700 but i could be wrong any thoughts??
  • #62,198
  • Feb 5, 2009 7:02pm Feb 5, 2009 7:02pm
Quoting pipmyride
Could you post a chart of your range and possibly some examples to show trades - i'm trying to get better at trading ranges but i just cant seem to get the right spots - and i'll either pick the spots when breakouts occur or wait to confirm no breakout and get in too late.

Much appreciated if you have a chance,

cheers

Not trying to butt in: I don't believe they were talking about trading the open range (google it). If your looking for a way to trade ranging markets you may want to simply start by looking at S/R. Next look at candle patterns. After that take your best guess. Remember every trade is 50/50, so when your trading counter trend in a range market make sure you place your trade real close to the defined out side edge (only you can define the edge) I know not a damn bit of help
  • #62,199
  • Feb 5, 2009 7:13pm Feb 5, 2009 7:13pm
waiting on the sidelines
  • #62,200
  • Feb 5, 2009 7:28pm Feb 5, 2009 7:28pm
very nice still going side ways. Just went for a 9km run in the bush. now the EUR can drop
Trade on your own risk Plan your trade&trade your plan dont be a
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