EURUSD

usd/chf just about to break out tp 1.03 goodluck...

That would be nice, been holding long since 1.0135 last week.

Everyone of us has a different style for achieving the same objective, nothing wrong with that as long as it works.

My risk sometimes add up to 20% of capital, but no single trade carries significant risk. Many times I barely care about profit or loss on individual trades, because I know non of them has significant impact on my account and very few are likely to hit their tps or sls in one single move.

So you're short on EUR/USD ?
I just turn my position to short when my SL at 83 was touched

Right now market is trying to absorb sellers down there and convert them into buyers in order to push it higher ... unless 1.4850 breaks to the down side.

This is higher low formation on 30M chart bouncing off LTL of a new uptrend channel.

Let's see what happens in NY session. I presume it will be choppy market. Take care.

no position eur/usd curently

I've to admit that I go nervous when I'm with 20% and when it happens it's just because I'm human and some times I don't respect the Law !!

out with a couple of cents

Nice one

back again not in a position though. I had the last trade wrong mostly because my tp missed by 1 pip and I didn't take 1pip in profit, instead got kicked out with SL. no idea where to trade now short or long seems to be in a chanel 1,4870 -1,4890 good for scalping if anyone interestedI still see downside with more potential. US will let us know where to go as it did yesterday.

does anyone know how to create a script? or where i can get info on creating one?

1. I do not understand what is an escape route. When you enter in a trade you need three things:
a. an idea why are you entering (setup, PA, etc.)
b. a SL if your idea is wrong, even if it is a mental one.
c. a TP in order to have a target for the price where you will close the trade. This is not carved in stone since the market is a living body.

2. Enter only if your trading rules are met. I do not know what a potential for BE is. Usually if the setup is right I enter a number of lots according to my money management rules. Then at my 1st target I close 2/3 or 1/2 of the position and move the SL to BE. I also watch the market. If the move does not happen during 3 or 4 candles I close the trade.

3. Yes. Always. If your setup happens rarely then try another set of rules or watch a bigger number of pairs. Always stick to your rules.

4. This is about money management. Before going live, test your setups rules, etc on demo for 1-2 months. If you are consistently profitable then go live. Risk in a trade 1-2% of your equity. This is done by multiplying the size of your lot with the SL for that entry. If you are risk adverse then keep your risk at 1% on a position. A position is a trade in 1 currency pair.
Also, if you trade larger time-frames you can build your positions by starting small and as soon as you have a confirmation that the trade is moving your way add to your position.

5. I do not understand this statement too. Your money management is your friend. If you are on the wrong foot and the price moved against you and you failed to close the losing trades and you added to them, then you should always try to light up the position at favorable intervals. By example go long again at a very strong support level. The price will move in waves and you may close your position gradually at a lower loss than the initial dip. This will be painful - I know this from personal experience - but you will preserve your equity.

I know is a bit off-topic but from time to time it helps remembering some rules.

Usd strength Geesh been along time between drinks...

taking off now...

DOES ANYONE USE FXCM if so whats your experience with them?

Didn't catch that top, it was confusing I could only see it after it happened, extensions, truncations... left me out of the market for that drop, let's hope EUR/USD keeps the retracements simple for me.

Happy pip hunting.

I use FXCM Micro account. I'm satisfied, no problems so far.

just compared fxcm to ibfx charts an fxcm moves pretty slow

It doesn't get much more accurate than this.

#155926

I use FXCM since last year and no problem till now.