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  • #137,201
  • Sep 1, 2009 12:21am Sep 1, 2009 12:21am
Market may not come down before 1.44 , 3tops high & so taking profit from shorts whatever now.may add more at the top and long at the bottom it reach.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #137,202
  • Sep 1, 2009 12:28am Sep 1, 2009 12:28am
Quoting fontu
Market may not come down before 1.44 , 3tops high & so taking profit from shorts whatever now.may add more at the top and long at the bottom it reach.
fontu
i am also thinkin of that but will keep shorts 438.
never go for max profit, but for minimum lose !
  • #137,203
  • Sep 1, 2009 12:29am Sep 1, 2009 12:29am
But the old bastard wouldn't tell me the numbers!
  • #137,204
  • Sep 1, 2009 12:31am Sep 1, 2009 12:31am
Quoting Fly2
and to make that much you be risking way to much of your money.even if you risk just 2% of your account /you couldn't afford more than a 20 pip stop loss on 1 dollar.So you better be right or you better make a 70000 pip move which will never happen
No. I am happy about my getting this move at perfect time, not the profit element. My profit / loss is always 1% in each trade.

I am right 55 out of every 100 times, this is more than enough for my method. I don't count pips, just inches on a chart with my only tool which is a 6" ruler.

I however want to place a $100 trade at right time on monthly to see if market ever gives me 50 times more or pockets it. You don't need 70,000 pips to make $70,000. Only a stop loss seventy "inches" shorter than your take profit and make sure it doesn't get hit before TP does.
The Thief of Wall Street
  • #137,205
  • Sep 1, 2009 12:33am Sep 1, 2009 12:33am
Quoting Chicky
No. I am happy about my getting this move at perfect time, not the profit element. My profit / loss is always 1% in each trade.

I am right 55 out of every 100 times, this is more than enough for my method. I don't count pips, just inches on a chart with my only tool which is a 6" ruler.

I however want to place a $100 trade at right time on monthly to see if market ever gives me 50 times more or pockets it. You don't need 70,000 pips to make $70,000 only have a stop loss seventy time shorter than your take profit and make sure it doesn't get...
Stop Loss i think is the biggest mistake of traders
never go for max profit, but for minimum lose !
  • #137,206
  • Sep 1, 2009 12:35am Sep 1, 2009 12:35am
A short gu position could provide good risk/reward at current levels.
former support turned resistance at around 1.64 could act as sl
Some drink at the fountain of knowledge. Others just gargle !
  • #137,207
  • Sep 1, 2009 12:36am Sep 1, 2009 12:36am
Quoting Chicky
No. I am happy about my getting this move at perfect time, not the profit element. My profit / loss is always 1% in each trade.

I am right 55 out of every 100 times, this is more than enough for my method. I don't count pips, just inches on a chart with my only tool which is a 6" ruler.

I however want to place a $100 trade at right time on monthly to see if market ever gives me 50 times more or pockets it. You don't need 70,000 pips to make $70,000. Only...
I only need 10 pips a day. With 200:1 leverage and full lots it's enough.
  • #137,208
  • Sep 1, 2009 12:36am Sep 1, 2009 12:36am
Quoting IcoHristov
Stop Loss i think is the biggest mistake of traders
yes, trend always turn towards
  • #137,209
  • Sep 1, 2009 12:37am Sep 1, 2009 12:37am
Chicky http://cdn.forexfactory.com/images/s...ser_online.gif
THIEF OF WALL STREET
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http://www.forexfactory.com/images/misc/10+kt.gif 2,273 Posts

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Originally Posted by Fly2 http://cdn.forexfactory.com/images/buttons/viewpost.gif
I don't plan on holding a trade that long hehe

You won't regret by converting $1,000 into $70,000 or $0 in one trade of less than a year.
Quoting IcoHristov
Stop Loss i think is the biggest mistake of traders
Never happen!with $100 trade you will have about 1 in a million chance-If your leverage would let you first of all and then your margin be dead with a blown account with just a few pip move in wrong direction.and you would still need 700 pips for $70,000 with 10 lots on it
  • #137,210
  • Sep 1, 2009 12:40am Sep 1, 2009 12:40am
Quoting T.E.Lawrence
I only need 10 pips a day. With 200:1 leverage and full lots it's enough.
Right on! Compounding is the key.After all this isn't a get rich quick thing.If you think it is you better re-evaluate your plan.
I'm at 50:1 on one acount/no more than 100:1 on other and I'd change that if I could to 50 :1
  • #137,211
  • Sep 1, 2009 12:42am Sep 1, 2009 12:42am
Quoting IcoHristov
Stop Loss i think is the biggest mistake of traders
I agree, if they are within the hit range. But it again depends how one uses them. I set them with the purpose they get hit as circuit-breakers (or fuses), and not just to decorate my charts.
The Thief of Wall Street
  • #137,212
  • Sep 1, 2009 12:46am Sep 1, 2009 12:46am
Quoting Fly2
But the old bastard wouldn't tell me the numbers!
i did one and came up with 4385.. we usualy over shoot.. but using the march chart i have 4376 4389 4403 4420... 4420 is out of recent range.. so we kick it out.. others remain to be seen
those who can, do. those who cant, talk about those who can
  • #137,213
  • Sep 1, 2009 12:47am Sep 1, 2009 12:47am
But I give full credit to the author who made this spreadsheet!
Change as you want.I set my goals using this and is very helpful.Lets you take the math out of doing it yourself!I found it on the net somewhere.
25% a month is just a little over 1% profit a day.Not hard to do I'd say.
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  • #137,214
  • Sep 1, 2009 12:51am Sep 1, 2009 12:51am
i will like to target todays PP
  • #137,215
  • Sep 1, 2009 12:53am Sep 1, 2009 12:53am
Quoting T.E.Lawrence
I only need 10 pips a day. With 200:1 leverage and full lots it's enough.
As I thought, you ARE Lawrence of Arabia. I have no horses, so have to walk on sand dunes - one step at a time
The Thief of Wall Street
  • #137,216
  • Sep 1, 2009 12:54am Sep 1, 2009 12:54am
Quoting Fly2
But I give full credit to the author who made this spreadsheet!
Change as you want.I set my goals using this and is very helpful.Lets you take the math out of doing it yourself!I found it on the net somewhere.
25% a month is just a little over 1% profit a day.Not hard to do I'd say.
yea its amazing for ppl like me who r greedy gives targets per month @ which we can be content
  • #137,217
  • Sep 1, 2009 12:54am Sep 1, 2009 12:54am
Quoting Chicky
As I thought, you ARE Lawrence of Arabia. I have no horses, so have to walk on sand dunes - one step at a time
Chicky ,you can but horses,camels or even a dune buggy in due time lol
  • #137,218
  • Sep 1, 2009 12:56am Sep 1, 2009 12:56am
Quoting bksujal
yea its amazing for ppl like me who r greedy gives targets per month @ which we can be content
Well it just shows at that % a month what can be accomplished in your account in 2 years.Not a bad living.In 2 years your set!Hope those that got it use it well.I just look at it for weekly even or daily.Just set the % and look at months column as weeks or days
  • #137,219
  • Sep 1, 2009 1:01am Sep 1, 2009 1:01am
if todays high remains (i have 4377)... then the pl is 4288 on the 5m and 4275 on 15 m.. not much of a range..short term
those who can, do. those who cant, talk about those who can
  • #137,220
  • Sep 1, 2009 1:01am Sep 1, 2009 1:01am
Quoting Fly2
But I give full credit to the author who made this spreadsheet!
Change as you want.I set my goals using this and is very helpful.Lets you take the math out of doing it yourself!I found it on the net somewhere.
25% a month is just a little over 1% profit a day.Not hard to do I'd say.
But where is that author guy with all his money? Never heard of one...
The Thief of Wall Street
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