Rule 1 is not profit, it is capital preservation.
PS, In case you are joking, please accept my humble apologies, being only 0.4 % up this entire month, my humorous sense is severely damaged .
MT4: how to change "EURUSD" to "#EURUSD"? 3 replies
Re: EurUsd short term 15 replies
did oanda just drop its spread for eurusd to 1 pip? 11 replies
EA for multiple lot limit order for EURUSD 0 replies
NFP nice bump up on EURUSD 2 replies
DislikedForget your SL whats important is profiting in the first place, SL is only useful if your planning to LOSE.
So place your trade, and regardless of in profit or loss the 2nd your trade isn't working and it's going against you EXIT, and unlike a SL you can look for a better price.
Won't always work, big occasional losses are expected, but big and occasional is better than small and annoyingly confidence killing missing all the runs small and frequent.
And thats my 1st rant of the day
I hate SL'sIgnored
DislikedWell the guy lost his account in 1 day: got in a bad trade and kept praying the market will turn around,.... how's praying for a SL?
In my opinion, he has 4 options: quit FX, paper trade, keep praying or using SL since he does not seem to know what the hell he is doing...Ignored
DislikedHmmm. Reason you hate SL is reason just about everyone hates SL's. They get hit. Not taking anything away from you on how you place and exit your trade, but most people plan to win, not to lose. And we all know what happens to the majority. In trading, minority rules. Plan to lose is what I say. That way you get your entries right, and exits right and the profits will take care of themselves, though frequently not to the maximum or even near at times. Whether one uses Sl's or not, well that's debatable, but plan to lose. I believe Larry Williams...Ignored
DislikedThe market has not hit the lower track. longs favoured as weakness coming in and market extended.Ignored
DislikedWell, I've done some analysis and here's my target:
Wouldn't even surprise me if it happened today (somewhat doubtful, though possible)
or atleast by the close of business Monday. Let's let the market do what it does best: moveIgnored
DislikedAs far as the Euro goes. I wanted to point out a few things as we see a potential head and shoulders pattern on the 4 hour chart with the neckline at about 1.38 targeting 1.34-35. So even though I do have many comments on other currency pairs I will cirumscribe my comments to the EUR/USD tonight.....Ignored
DislikedMaxsmart, just wanted to say great writeup ! Thanks for your insight !
~OdyIgnored
Dislikedyeah shame on every one...
thankfully whole day i was not present hereIgnored
Dislikedok folks did my home work if you can short at 4193.. nike it.. 57 pip sl..were gonna go down unless there a pipeline bomb or war or something..if its war depends on whos involved...pipeline and we go up. 3054 is in the tea leaves..Ignored