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  • #146,981
  • Jul 16, 2009 11:43am Jul 16, 2009 11:43am
Quoting albchr
Come on brother, YOU know my situation. I don't play large lots because I like to or I'm greedy.....
I know chris. Didn't mean it that way. Just trying to point out in general that you don't need a million bucks to trade that way. I did not mean specifically your situation.
Sorry bro
Thank You
  • #146,982
  • Jul 16, 2009 11:49am Jul 16, 2009 11:49am
Quoting wormboy
I know chris. Didn't mean it that way. Just trying to point out in general that you don't need a million bucks to trade that way. I did not mean specifically your situation.
Sorry bro

I Know dude...just bored I guess. Still, I'd never trade without a stop regardless of how big the account or how small the position. What if you loose connection with your broker and the market takes off? Sure, you can use the phone and call them but a lot can happen in the mean time. And how would you know the price they quote you is good?

Not that I'm implying a broker would do anything to take advantage of you or anything...

Maybe it's just me but I think new traders reading it's ok to trade without a stop isn't a good thing.
Ghost Rider - WWTBMD?
  • #146,983
  • Jul 16, 2009 11:53am Jul 16, 2009 11:53am
Quoting albchr
I Know dude...just bored I guess. Still, I'd never trade without a stop regardless of how big the account or how small the position. What if you loose connection with your broker and the market takes off? Sure, you can use the phone and call them but a lot can happen in the mean time. And how would you know the price they quote you is good?

Not that I'm implying a broker would do anything to take advantage of you or anything...

Maybe it's just me but I think new traders reading it's ok to trade without a stop isn't a good thing.
Let the profit limit take u out
  • #146,984
  • Jul 16, 2009 11:58am Jul 16, 2009 11:58am
Quoting mktjong
Let the profit limit takes u out

OK, I'll bite, You show me how to make at least 6K a month for the bills from a 5K account trading the way you suggest.

You do, and you're my new hero....LOL

Anything over 6K grows the account. 6K or less and I start all over with 5K.

Like I said, not in "MY" particular situation.

The only way I can think of (other than the way I trade) is to never be wrong picking direction. And we all know how easy that is.
Ghost Rider - WWTBMD?
  • #146,985
  • Jul 16, 2009 12:01pm Jul 16, 2009 12:01pm
I wonder what i'll do when it runs out of space to move..
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  • #146,986
  • Jul 16, 2009 12:03pm Jul 16, 2009 12:03pm
Quoting Instinct
I wonder what i'll do when it runs out of space to move..
PUNT!!!....
Ghost Rider - WWTBMD?
  • #146,987
  • Jul 16, 2009 12:07pm Jul 16, 2009 12:07pm
Quoting albchr
OK, I'll bite, You show me how to make at least 6K a month for the bills from a 5K account trading the way you suggest.

You do, and you're my new hero....LOL

Anything over 6K grows the account. 6K or less and I start all over with 5K.

Like I said, not in "MY" particular situation.
6K maybe too much for a month with 5K capital. 2-3k is doable with 5% each trade and go for 30 pips. Enter within 0-3 hours at European opens (11:00 GMT) whenever the price touches hourly upper or lower Bollinger band. Go with the opposite direction.
I personnally haven't tried out this method to be honest but it's highly probable. Personally, I use longer time frame (12 hours or daily) and volume to gauge the next move. I don't ask for too much even tho using higher time frame.
  • #146,988
  • Jul 16, 2009 12:15pm Jul 16, 2009 12:15pm
Quoting mktjong
6K maybe too much for a month with 5K capital. 2-3k is doable with 5% each trade and go for 30 pips. Enter within 0-3 hours at European opens (11:00 GMT) or whenever the price touches upper or lower Bollinger band. GO with the opposite direction.
I personnally haven't tried out this method to be honest but it's highly probable. Personally, I use longer time frame (12 hours or daily) and volume to gauge the next move. I don't ask for too much even tho using higher time frame.
Well, I've been demo trading for about 11 months. For the last 3 of them I did it and the first month of live trading I did. This month I'm falling short (so far) mostly because of the lack of market movement and a few mistakes too.

I don't use indicators of any kind. Just PPZ's and PA. An occasional fib and/or MACD for confluence but that's it.

But the market has to actually move.....LOL

I'm not happy about the situation but we have to play the cards we're dealt in life so, there it is....LOL
Ghost Rider - WWTBMD?
  • #146,989
  • Jul 16, 2009 12:20pm Jul 16, 2009 12:20pm
Quoting Ifty
Please brother don't make such mistakes. If e.g any bad news breaks out and a drop of 300 pips occurs then that will be a disaster for you. Just go for long SL of maybe 50 or 100 etc.
sure grashid has tons of money in his accounts
so -300pips mean nothing to him.
to me, 300pips...mmm will wipe out my account
  • #146,990
  • Jul 16, 2009 12:22pm Jul 16, 2009 12:22pm
Quoting albchr
Well, I've been demo trading for about 11 months. For the last 3 of them I did it and the first month of live trading I did. This month I'm falling short (so far) mostly because of the lack of market movement and a few mistakes too.

I don't use indicators of any kind. Just PPZ's and PA. An occasional fib and/or MACD for confluence but that's it.

But the market has to actually move.....LOL

I'm not happy about the situation but we have to play the cards we're dealt in life so, there it is....LOL
Good for you. But watch out for the MM
Btw, what is PPZ's?
  • #146,991
  • Jul 16, 2009 12:29pm Jul 16, 2009 12:29pm
Quoting mktjong
Good for you. But watch out for the MM
Btw, what is PPZ's?
I do my best...lol

Price Pivot Zone

Anyway, the market is sleeping so I think I'll catch up on some. I'd say be careful but then, what for?
Ghost Rider - WWTBMD?
  • #146,992
  • Jul 16, 2009 12:29pm Jul 16, 2009 12:29pm
Quoting albchr
OK, I'll bite, You show me how to make at least 6K a month for the bills from a 5K account trading the way you suggest.

You do, and you're my new hero....LOL

Anything over 6K grows the account. 6K or less and I start all over with 5K.

Like I said, not in "MY" particular situation.

The only way I can think of (other than the way I trade) is to never be wrong picking direction. And we all know how easy that is.
You've got the odds stacked against you, my friend, attempting those types of monthly gains with any trading system, as you need to constantly use dangerous levels of leverage just to put food on the plate, which eventually ends in tears, unfortunately. Your capital base is simply way too small to support those kind of returns, without having another income to fall back on in the leaner months - and there will be plenty of those.

I have read your previous posts and you seem a very decent guy, so I obviously wish you the greatest success with your endeavours, and hope that you can somehow defy the odds. I also understand you're making the best of your current situation.

Respect and regards, Paul
  • #146,993
  • Jul 16, 2009 12:30pm Jul 16, 2009 12:30pm
hai guys..
i`ve been waiting for the price to break, but it doesn`t yet, so i guess it will move up around 1.6470-1.6475
  • #146,994
  • Jul 16, 2009 12:31pm Jul 16, 2009 12:31pm
[quote=wormboy;2879284]I say you pull up a h1 chart and draw 2 horizontal lines across 6450 and the other at 6390 and you will see the consolidation zone. Forget the corrective wave & seeing 66xx by tomorrow. You don't know that, nobody does. Have you not read enough calls for this thing to tank for the past 24 hours? Have you not read enough calls saying this thing will fly to the moon today? The market is ranging. It will do this for as long as you think it won't & it certainly can go the opposite way if it wants... ...
/quote]

You are a very astute trader and I am learning alot from your input on FF - thank you.
  • #146,995
  • Jul 16, 2009 12:36pm Jul 16, 2009 12:36pm
Quoting gammase1
You've got the odds stacked against you, my friend, attempting those types of monthly gains with any trading system, as you need to constantly use dangerous levels of leverage just to put food on the plate, which eventually ends in tears, unfortunately. Your capital base is simply way too small to support those kind of returns, without having another income to fall back on in the leaner months - and there will be plenty of those.

I have read your previous posts and you seem a very decent guy, so I obviously wish you the greatest success with your...
Don't I know it Paul. I thank you for your very kind words and I'm doing my best to live up to your signature....
Ghost Rider - WWTBMD?
  • #146,996
  • Jul 16, 2009 12:38pm Jul 16, 2009 12:38pm
I didn't move a single line..
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  • #146,997
  • Jul 16, 2009 12:40pm Jul 16, 2009 12:40pm
Gu as what I see.
If price break 1.6390, my TP will be 1.6360, 1.6300
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  • #146,998
  • Jul 16, 2009 12:44pm Jul 16, 2009 12:44pm
lol what is the nature of this bump we just had?
  • #146,999
  • Jul 16, 2009 12:48pm Jul 16, 2009 12:48pm
Quoting gammase1
You've got the odds stacked against you, my friend, attempting those types of monthly gains with any trading system, as you need to constantly use dangerous levels of leverage just to put food on the plate, which eventually ends in tears, unfortunately. Your capital base is simply way too small to support those kind of returns, without having another income to fall back on in the leaner months - and there will be plenty of those.

I have read your previous posts and you seem a very decent guy, so I obviously wish you the greatest success with your...
good to u see u still around buddy..
I myself am going though hell on the job front and am considering having a live account starting with 10k and i still wont trade more than £1 a pip and build on it! ..but i have to say the thought makes me nervous cause i have to succeed

i do agree in this game i think u have to trade small incase yur wrong..it only takes 1 mistake to wipe u out in this game
  • #147,000
  • Jul 16, 2009 12:56pm Jul 16, 2009 12:56pm
Strong move up. Any reason for it?

London Trader

Quoting albchr
OK, I'll bite, You show me how to make at least 6K a month for the bills from a 5K account trading the way you suggest.

You do, and you're my new hero....LOL

Anything over 6K grows the account. 6K or less and I start all over with 5K.

Like I said, not in "MY" particular situation.

The only way I can think of (other than the way I trade) is to never be wrong picking direction. And we all know how easy that is.
Discomfort and profit often stand side by side
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