DislikedRichalok, you are trading with small percentage of capital on any one trade, correct. Look to 1.3296 about there to get out of at least some of your positionIgnored
I prefer to make 3 pips per hour... 24h a day... than 54 pips in 4 minutes in a very high risk moment some days....
but that's a personal preference only...
On monday I made on this pair 198 pips and it took all day long. I do not stick to some restrictions in trading. When I see good opportunity, I jump, set the SL and let the market to give me money. If market kicks me out, so it was not good opportunity and so ...it is still the same round and round... I am not scared of movements or market... I have no bad or evil emotions during trading..it is only job.. only money, only pips.
I have emotions with my friends, those I love and those I live for...
So I think that being flexible in markets is very good approach, because market is always changing...one market is better to do not trade for week, and sometimes is good to take all movements one by one.. It is matter of viewing of market. What can you do in those particular conditions. And also conditions are never the same
And I love it... sarkasticaly said, it is only dump chart... but this chart is never the same, that's reason why I love it
Wish you a lot of great moments with those you love.
- #93,567
- May 7, 2009 7:14am May 7, 2009 7:14am
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
Hi emda.
Smart trading...
You have NO chance trying to trade the news (buy or sell as soon as the news is released)...the dealers will ALWAYS be in front of you. (you need a broker too that won't play unfair tricks during those high volatility times, those tricks include freezing the platform, some will widen the spread way too much, others will get you filled way to far from the price you wanted to).
Whichever broker you trade with, you are trading through their platform. Consequently, their brokers will...
I agree with you....
trading should be about managing risk... and you can make more money trading longer timeframes than scalping news... and if there would be one indicator to use. that would be a Risk Indicator... an indicator that would give you "trading2 vs "no trading" times. Also it is good to know when something is changing your plan and how to hedge and exit. That's real trading.... the rest is gambling...
To scalp you have to be very experienced and have an excellent broker.
- #93,569
- May 7, 2009 7:18am May 7, 2009 7:18am
- Joined Oct 2008 | Status: sideline is a position | 105,128 Posts
those who can, do. those who cant, talk about those who can
- #93,570
- May 7, 2009 7:20am May 7, 2009 7:20am
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
We can speak a lot of times about RISK, and what is risky and what not. At first, being uneducated is risky, so I enter to positions in this cases with SL around 10 pips, so I put to my trade 10 pips before the movement. Market gave me 57 pips in short time and I took it. Risk revard ratio 5.7 :1
On monday I made on this pair 198 pips and it took all day long. I do not stick to some restrictions in trading. When I see good opportunity, I jump, set the SL and let the market to give me money. If market kicks me out, so it was not good opportunity...
you may have a lot of experience but I wanted to suggest new traders that should not trade the news. The market is going to be there after that and will give more opportunities to enter a trade.
- #93,572
- May 7, 2009 7:25am May 7, 2009 7:25am
hi jacko. nice to see you here
I agree with you....
.....
To scalp you have to be very experienced and have an excellent broker.
nice to drop in every so often and see what you are up to..
Just remember, brokers are in the business of making profits from traders.
Traders scalping the news is the EASIEST and most convenient way for them to make money from traders
.
Jacko
- #93,576
- May 7, 2009 7:27am May 7, 2009 7:27am
- | Membership Revoked | Joined Apr 2009 | 2,726 Posts
1.3384 was the highest point
& now get ready 4 a exteremly
Falling down till 1.31xx
Trade Well !
WHY?
each trader has his own style... and if it's working for you.. it's fine...
you may have a lot of experience but I wanted to suggest new traders that should not trade the news. The market is going to be there after that and will give more opportunities to enter a trade.
Because not indikators, not trading systems can help you during news
Just only your skills.I use to enter 2-3 minuter before the news and stay in market only 5 minutes... then I switch back to my standard trading approach.. I am flexible in this
Cause I use to trade higher times frames , sometimes very hight, 8 hours 1 day TF Wish you a lot of great moments with those you love.
- #93,578
- May 7, 2009 7:29am May 7, 2009 7:29am
- Joined Jan 2008 | Status: Only God Can Judge Me | 2,467 Posts
1.3384 was the highest point
& now get ready 4 a exteremly
Falling down till 1.31xx
Trade Well !
this time i agree with u Miss Deeper
- #93,579
- May 7, 2009 7:30am May 7, 2009 7:30am
- Joined Apr 2009 | Status: Trader | 4,214 Posts
Okay. Have taken a quick short PT 1.3338 SL 1.3383 Entry 1.3375
- #93,580
- May 7, 2009 7:30am May 7, 2009 7:30am
- Joined Apr 2007 | Status: Evil Kraut | 2,559 Posts
1.3384 was the highest point
& now get ready 4 a exteremly
Falling down till 1.31xx
Trade Well !
The markets needed some time to grasp this. I'd be really surprised to see quotes below 1.32 the next days...