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Cable Update (GBPUSD)

  • #173,501
  • Oct 6, 2009 10:21am Oct 6, 2009 10:21am
Quoting FxClown
Congratulations.

You are probably familiar with forex experts opinion on taking a hit. If one doesn't feel the pain taking a hit then they will get up and fight again (Strange but true!).

Having timidly blown several small acounts before, I started again with a large account and within days took a 75% hit on my account. I felt a cold shiver just before pressing the button. It was a liberating moment.

You are absolutely right in that, good money mangement is the key.
I did not have a clue until I started reading up on MM. I still...
I am happy to hear your account is healthy.

Good trading and keep uot the good work
The Sky is the Limit!
  • #173,502
  • Oct 6, 2009 10:26am Oct 6, 2009 10:26am
Quoting gammase1
I don't get his point either...
lol, thought I was the only one who didn't understand
Thank You
  • #173,503
  • Oct 6, 2009 10:28am Oct 6, 2009 10:28am
Quoting gammase1
I don't get his point either...
Perhaps it's just due to account size. Large accounts using say 2% per trade can afford larger stops and look for larger moves but still make good money with a smaller move.

Small accounts (in order to make any real money) have to use larger % per trade, smaller stops and taking smaller moves.

Or at least that's what I've found. As much as I understand that the "proper" way to trade is by % rather than dollars. It's hard with a small account because with that method, you need it to move a GAZILLION pips to make just a couple bucks....LOL
Ghost Rider - WWTBMD?
  • #173,504
  • Oct 6, 2009 10:29am Oct 6, 2009 10:29am
Quoting wormboy
lol, thought I was the only one who didn't understand
Looks like someone switched the 5950 pip magnet back on bro....lol
Ghost Rider - WWTBMD?
  • #173,505
  • Oct 6, 2009 10:30am Oct 6, 2009 10:30am
Quoting wormboy
lol, thought I was the only one who didn't understand

I think i know what u means:

people dont have the mental strength to see profit and not cash it in, especailly when they been stressed the whole day, night and then it finally comes towards theere entry and they cash it...risking 100 pips to get 5 pips or 30 pips

the stradegy fall apart

so he say risk 20 to make 20..

the only thing i dont like about that idea is u lose 1% b4 u blink
  • #173,506
  • Oct 6, 2009 10:32am Oct 6, 2009 10:32am
Quoting albchr
Perhaps it's just due to account size. Large accounts using say 2% per trade can afford larger stops and look for larger moves but still make good money with a smaller move.

Small accounts (in order to make any real money) have to use larger % per trade, smaller stops and taking smaller moves.

Or at least that's what I've found. As much as I understand that the "proper" way to trade is by % rather than dollars. It's hard with a small account because with that method, you need it to move a GAZILLION pips to make just a couple bucks....LOL
He didn't have to knock candle reading, fibs etc etc as gambling to get his point across did he? lol
I'm pretty sure he didn't mean it like you said it chris.
Thank You
  • #173,507
  • Oct 6, 2009 10:34am Oct 6, 2009 10:34am
Quoting albchr
Looks like someone switched the 5950 pip magnet back on bro....lol
lol I know. It happens on and on till we get lazy & complacent then ..... BOOM
whoo you know you dead
Thank You
  • #173,508
  • Oct 6, 2009 10:38am Oct 6, 2009 10:38am
Quoting nAVIN2007
I think i know what u means:

people dont have the mental strength to see profit and not cash it in, especailly when they been stressed the whole day, night and then it finally comes towards theere entry and they cash it...risking 100 pips to get 5 pips or 30 pips

the stradegy fall apart

so he say risk 20 to make 20..

the only thing i dont like about that idea is u lose 1% b4 u blink
that is it bro. u hit it ryt.
do u have solution to that or advice???????????????????????? it has happened to me a couple of million times. just trying to get over it bit by bit. i just hope i can
  • #173,509
  • Oct 6, 2009 10:43am Oct 6, 2009 10:43am
Quoting beejay
that is it bro. u hit it ryt.
do u have solution to that or advice???????????????????????? it has happened to me a couple of million times. just trying to get over it bit by bit. i just hope i can
don't get 5 or 30. get 100 or 200!
  • #173,510
  • Oct 6, 2009 10:44am Oct 6, 2009 10:44am
Quoting nAVIN2007
I think i know what u means:

people dont have the mental strength to see profit and not cash it in, especailly when they been stressed the whole day, night and then it finally comes towards theere entry and they cash it...risking 100 pips to get 5 pips or 30 pips

the stradegy fall apart

so he say risk 20 to make 20..

the only thing i dont like about that idea is u lose 1% b4 u blink
lol
well I'm not gonna knock down people who trade this way, I know some who trade that way succesfully ie bbmac, forexlion & malcolmb. But those guys are hardened traders who had surpassed the psychological barrier.
These newbies thinking they can do the same are in for a rude awakening.
Don't let me stop you tho, in due time they'll see
Thank You
  • #173,511
  • Oct 6, 2009 10:44am Oct 6, 2009 10:44am
What ho and bon jovi you fine strutting billionaires in the making

What a fine morning to grab your tickling stick and whack a long on cable

I dont believe there is a total disconnect with the euro which is going for the moon and leaving a wispy vapour trail of garlic behind it

Cable is at a dither point put I reckon the balance of bobaprillities is that it will go up from here
  • #173,512
  • Oct 6, 2009 10:45am Oct 6, 2009 10:45am
....2nd swing hit n leave it for 2 last one at 135.50 n the nxt journey....till jan 29,2010 [if no noise happen]

add long from buy limit 141.10 together with -77pips float in london.....while waiting for my bear swing setting ...perhaps next week

gu....mm 1.5350/00 stop any enty atm.....

gold sell limit 1033 as mentioned in last couple of week on....
  • #173,513
  • Oct 6, 2009 10:45am Oct 6, 2009 10:45am
Quoting beejay
that is it bro. u hit it ryt.
do u have solution to that or advice???????????????????????? it has happened to me a couple of million times. just trying to get over it bit by bit. i just hope i can

yes the solution is to learn to trade larger time frames, i know because my own personal experience, it was exactly what i did

when u learn to hold a position, u get used to it and seeing the profit doesnt hit quite, in the same way..it takes time but will get better as time progresses, it has too

another thing u dont need a big account to get a lot of pips or swing trade, u just need to know what yur doing..i still dont
  • #173,514
  • Oct 6, 2009 10:51am Oct 6, 2009 10:51am
Quoting wormboy
lol
well I'm not gonna knock down people who trade this way, I know some who trade that way succesfully ie bbmac, forexlion & malcolmb. But those guys are hardened traders who had surpassed the psychological barrier.
These newbies thinking they can do the same are in for a rude awakening.
Don't let me stop you tho, in due time they'll see
the main point is risk exposure..surely people need to understand to swing trade is to reduce risk exposure and to scalp is to expose one self to risk

therefore u need to know what yur doing to scalp, people will be peole and will take shortcuts and get killed, every 6 months we have a new room, new folks same old BS....TO HELL WITH IT!! I aint gonna say the same thing over and over!

keep feeding the market folks!! ..we all billionaires
  • #173,515
  • Oct 6, 2009 10:53am Oct 6, 2009 10:53am
Quoting nAVIN2007
every 6 months we have a new room, new folks same old BS....TO HELL WITH IT!! I aint gonna say the same thing over and over!

keep feeding the market folks!! ..we all billionaires
exactly.
Thank You
  • #173,516
  • Oct 6, 2009 10:58am Oct 6, 2009 10:58am
Quoting wormboy
lol
well I'm not gonna knock down people who trade this way, I know some who trade that way succesfully ie bbmac, forexlion & malcolmb. But those guys are hardened traders who had surpassed the psychological barrier.
These newbies thinking they can do the same are in for a rude awakening.
Don't let me stop you tho, in due time they'll see
LOL...having been fully "awakened" myself, I couldn't agree more with this...

Ghost Rider - WWTBMD?
  • #173,517
  • Oct 6, 2009 11:00am Oct 6, 2009 11:00am
Quoting wormboy
exactly.
  • #173,518
  • Oct 6, 2009 11:00am Oct 6, 2009 11:00am
Quoting wormboy
He didn't have to knock candle reading, fibs etc etc as gambling to get his point across did he? lol
I'm pretty sure he didn't mean it like you said it chris.

I didn't really read what he said in full or "how" he said it...

But yes, I am a silver tounged... ... ain't I? ...
Ghost Rider - WWTBMD?
  • #173,519
  • Oct 6, 2009 11:01am Oct 6, 2009 11:01am
Quoting nAVIN2007
the main point is risk exposure..surely people need to understand to swing trade is to reduce risk exposure and to scalp is to expose one self to risk

therefore u need to know what yur doing to scalp, people will be peole and will take shortcuts and get killed, every 6 months we have a new room, new folks same old BS....TO HELL WITH IT!! I aint gonna say the same thing over and over!

keep feeding the market folks!! ..we all billionaires
......nice word .....example...easy with my carelessness of long scalp gy at 142 area this london...with give me -84pps atm
  • #173,520
  • Oct 6, 2009 11:04am Oct 6, 2009 11:04am
Quoting albchr
I didn't really read what he said in full or "how" he said it...

But yes, I am a silver tounged... ... ain't I? ..
lol & sharp tounged at times
Thank You
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