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  • #72,241
  • Mar 6, 2009 3:58am Mar 6, 2009 3:58am
Quoting Driver55

But he trades with others' money...

That does make a difference. It is much easier to take a risk with someone elses money in my experience. I don't consider my work gambling. I would consider handing my money to someone else a gamble.
  • #72,242
  • Mar 6, 2009 3:58am Mar 6, 2009 3:58am
WOW...... we just had a BIG shake here (as in Earthquake) and it NEVER happens in this area (West Gippsland, in Victoria, Australia).
In the days of old when sailors were bold, and seldom if ever contented.
  • #72,243
  • Mar 6, 2009 3:58am Mar 6, 2009 3:58am
Quoting T.E.Lawrence
Thanks ol' timer. 20 years, man, I didn't know you can survive in this mountains for so long.

As I said.. this is non only a JOB... but also a small art
The best thing that can happen to you is to find out where you're wrong.
  • #72,244
  • Mar 6, 2009 4:01am Mar 6, 2009 4:01am
Well, I had a long from 1.2540 yesterday morning that I did close @ 1.2580 in the slow Asia session. This level did look to me like a strong resistance for the day even I was convinced that the pair will go higher in London session. I decided to sleep for few hours and wake up just when London opens to go long again. I was surprised to see the big spike that did happen early. I guess there are rumors of a worst Unemployment Rate coming from the US today and the Asian investors dumped the USD before they go for the weekend.
Anyway, I could only open 2 longs of USD/CHF at 1.1510 and closed them already at 1.1560. That what I could get from London session. This pair did drop by more then 300 pips since yesterday morning!!!
In my opinion, the euro will consilidate at this level for now and it is hard to know where it will go before the big news of the day. The bottom line, I am stepping away from the desk for now and be back in 3 hours.
Happy trading all
  • #72,245
  • Mar 6, 2009 4:02am Mar 6, 2009 4:02am
Quoting pt49
WOW...... we just had a BIG shake here (as in Earthquake) and it NEVER happens in this area (West Gippsland, in Victoria, Australia).
oups scary thing!!! I hope your nice displays setup still good
  • #72,246
  • Mar 6, 2009 4:03am Mar 6, 2009 4:03am
I don't see a loss in trading as a setback at all. In any business you have to pay the rent, salaries, etc., the trick is to have a profit at the end of the day after you paid your overheads.
  • #72,247
  • Mar 6, 2009 4:05am Mar 6, 2009 4:05am

The cross, which guides the market right now is the eurjpy

The best thing that can happen to you is to find out where you're wrong.
  • #72,248
  • Mar 6, 2009 4:06am Mar 6, 2009 4:06am
Quoting Dagger
Hey Lawrence

thanks bro for sharing your thought around here..

well for me its not full time job yet
Love what I'm doing in my job. Trading is good for extra income well better to say i', getting more then my day job
Planing to go unemployee within 3 years from now
have to make enough to buy a house with the forex money.
The challenge is going on and its going well 80% on the account so far in 4 month

what about you ?

I have 2 shorts going on for long term from 1.2694 1.2670
I'm 2d/3d graphic artist & I'm trading forex under constant fear of being exposed and asked:

"WTF? What's you're drawin' son? Some goddamn charts? What do you need'em for? What's that funny software you're drawin' in? Oanda? Never heard of it. Go back to Photoshop goddamn it! And stop fooling around!"

I'm short from 2697 & 2683
  • #72,249
  • Mar 6, 2009 4:07am Mar 6, 2009 4:07am
Quoting T.E.Lawrence
Meanwhile - are you guys & girls full time traders or have a day job like me? Who's who?
I work part time. I trade presently for FUN, I have spent the last six months learning to trade Price, no indicators, Price being the only indicator. I was pointed in this direction by two ex pros who now trade their own accounts.

So far I am satisfied with my results. When I go wrong I can go back through the charts and see what I overlooked.

I think you learn by your mistakes. (I still make enough)

Good Trading.
Good Trading. (keep it simple).
  • #72,250
  • Mar 6, 2009 4:08am Mar 6, 2009 4:08am
Quoting TradeToWin
oups scary thing!!! I hope your nice displays setup still good
They were shaking, the house and windows rattled for about 15 to 20 seconds. Probably normal stuff if you live in New Zealand (the Shaky Isles).
In the days of old when sailors were bold, and seldom if ever contented.
  • #72,251
  • Mar 6, 2009 4:12am Mar 6, 2009 4:12am
I've just closed my 2 shorts (+30 pips) and with my earlier +10 pips my morning loss is covered!
  • #72,252
  • Mar 6, 2009 4:15am Mar 6, 2009 4:15am
Quoting psiholog
forex was like gambling to me until i blew my account twice in less then 2 months. at that point i was almost broke so could not repeat it a third time therefore the mind went to work...how to not repeat the scenario again...figured out my main problem there was using 8dollar pips for a 1000 account the first time and 5dollar pips the second time..oh how i laugh about that now..still...quite the experience. later on when i had proper mm i learned i needed to control my trades so strategy was born and so on...all that brought me to today where even...
yeah that rally gave me pain in the neck, luckily at the time I can manage to turn loss into profit by close all neg pips and open positionS with qty, 50% of my margin so It was really crazy but luckily in the end it was a relieve LOL. But this greedyness really kicked me in the butt on January i lost 40% of my account, many because of SL's, so i try not to use SL's but only max 5% of my margin and hedging strategy so my portfolio in Feb is 100% profit but of course i can only manage 37% increase of my margin. Well at least it is not a pain in the neck. This month I try the same strategy so far I already increase 5.12% of my margin with two loss positions.
  • #72,253
  • Mar 6, 2009 4:16am Mar 6, 2009 4:16am
Quoting TradeToWin
Anyway, I could only open 2 longs of USD/CHF at 1.1510 and closed them already at 1.1560.
I didn't like how this pair started the morning at all and I wanted to buy it but and I smelled it was too dangerous to buy CHF
ROBOT FOREX
  • #72,254
  • Mar 6, 2009 4:17am Mar 6, 2009 4:17am
Quoting Charle
I don't see a loss in trading as a setback at all. In any business you have to pay the rent, salaries, etc., the trick is to have a profit at the end of the day after you paid your overheads.
good point. i still have not reached that stage yet so i wouldnt know. For some reason every time i reach 1000$ equity in my account i just blow it all up. I have done this several times now. Hopefully that has changed since december. Currently I am +850pips for february and took my account from 385 to 715. Now I am at the 800 mark since this month started (50cent pips on regular position size and 25cents on half a position size). I am very close to that 1000 mark yet again and just like any strong resistance in forex...i fear it big time as i will increase to 1$ dollar pips. I get past that level....my account will be over 10000 within 3months. Half a year...well over 20000 and so on. THis is not big money to most of you i bet but to this 22 year old punk whos trying to make a living off this for the rest of his life...any loss is a setback from my goals....thank god for parents who have faith in me and dont ask me to pay rent
Different opinions highly valued, ignorant to slander.
  • #72,255
  • Mar 6, 2009 4:20am Mar 6, 2009 4:20am

I'm returned to hedging at 2665

The best thing that can happen to you is to find out where you're wrong.
  • #72,256
  • Mar 6, 2009 4:23am Mar 6, 2009 4:23am
Quoting Driver55

I'm returned to hedging at 2665


Cool me too.
  • #72,257
  • Mar 6, 2009 4:25am Mar 6, 2009 4:25am
Quoting psiholog
good point. i still have not reached that stage yet so i wouldnt know. For some reason every time i reach 1000$ equity in my account i just blow it all up. I have done this several times now. Hopefully that has changed since december. Currently I am +850pips for february and took my account from 385 to 715. Now I am at the 800 mark since this month started (50cent pips on regular position size and 25cents on half a position size). I am very close to that 1000 mark yet again and just like any strong resistance in forex...i fear it big time as i will...
Be patient buddy, i think it is better to use 50cent pips until you have $2000 in your account.. I plan to increase my acc up to $3000 first before using a $pips ..we're young traders still searching for our best trading style. However I'm working as engineer also so forex is not really my main source of income, I don't trade for a living.
  • #72,258
  • Mar 6, 2009 4:26am Mar 6, 2009 4:26am
Quoting T.E.Lawrence
Meanwhile - are you guys & girls full time traders or have a day job like me? Who's who?
I work in an airport,dealing with people every day is driving me crazy that's why forex is (hopefully) my way to get out.I started 2 years ago and I went live 6 months ago.I don't use indicators,just candlesticks and trend lines.At the moment my trades are profitable but it was very hard to reach my current level and I did it studying,reading,watching and trying over and over and over...
  • #72,259
  • Mar 6, 2009 4:28am Mar 6, 2009 4:28am
Quoting Driver55

I'm returned to hedging at 2665

I'm out of the euro, been short the yen from 98.18
In the days of old when sailors were bold, and seldom if ever contented.
  • #72,260
  • Mar 6, 2009 4:31am Mar 6, 2009 4:31am
Quoting essenza
Be patient buddy, i think it is better to use 50cent pips until you have $2000 in your account.. I plan to increase my acc up to $3000 first before using a $pips ..we're young traders still searching for our best trading style. However I'm working as engineer also so forex is not really my main source of income, I don't trade for a living.
patience...if you live one day in my shoes...you will see that patience is one of my strongest attributes. as an example...i do nothing except forex every day...i have been doing this since last may when i quit work/school to pursue forex fully..trust me..patience is what i have. my problem is equity as always...its hard to make money out of no money...it adds psychological pressure and necessity to succeed in a short amount of time as to be able to live life. as far as 1$ dollar pips at 2000 goes..your probably right but that is one more month i cannot afford to lose right now...i have to take this risk. Its all good though...i will give myself 4 trades. If i have 4 straight losses (which will amaze me with my 80-90% success ratio usually)...ill just go back to 50cents again and repeat at 1000. TIme will tell though..best of luck to you psiholog..haha
Different opinions highly valued, ignorant to slander.
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