EURUSD

It´s curious how those who are newbies (at least on FF), are so aggressive on the market

Gator ... now seriously
without intention to influence
beware the eventual loss of the 5033 level

I don't (edit: trade that aggressively) if you meant me when saying newbies or totally not. hehe
I've been trading for just little over a 3 year. I am closing this year with 10% capital increase. Some it made be a lot some it may not be. What i know its more than what a bank can do .
Not to brag or whatever.

The strategy i am using is the mcrae (don't want to sell it, im not even affiliated with it at all) It has is good and bads. Its a long term strategy for me.

Short term strategy i work with my own scalping strategy and it is giving me quite a succes

I've been using this forum for years, I just feel awful i've been one of those people that profit from others. Well now is time to give it back to the community how i can.

Like what i appreciate, that all of you already do.

I know that because newbies(me too) wanna ride roller coaster =)

If this post is too lengthy for anyone, thats ok, no need to read. I find that the best lessons taught are through explaining personal experience. Just think of the books you may buy or the seminars you may attend, they do the same thing, the only difference is I do it for free. Whether what I say holds any value, that is for each of you to judge.

Never did demo. My first live trade was december 12, 2007 with a 1000$ account. It was 8$ per pip, as you can imagine it did not survive long. When I funded my account again with another 1000$ I downgraded to 5$ pips, again I did not survive long. Still the lesson learned about proper MM was a great one. After that, every time I funded my acc was only in small values averaging 250$. I would work my way up to 500$ with 25cent pips then to 1000$ with 25cent or 50cent pips. At 1000$, I would attempt 1$ dollar pips as I felt it was adequate given my stop loss and failed miserably each time. 1000$ became a psychological issue. One example of this is August of 2008, 56 trades total, 56winners total, went from 250 to 1000 by the end of the month. The first 3 trades of the following month wiped out my acc (stop loss..whered it go?). Another example is November 2008 where I scalped the range so much....I had a total gain of 3000pips and took my acc again from 250 to 1000. When December rolled around, I got killed (although the PA probably hurt alot of ppl that month, expensive lesson nonetheless, respect your stop loss). My losses where all for psychological reasons, removing stop loss, the 1000$ barrier, the failed attempts when increasing to 1$ per pip (each loss amounted to 5% equity). Did I mention doubling losers? Anyways, this January I will start with around 2500$ equity and all previous psychological barriers will be...gone. Even the 1$ pips will result in only around 2% per trade which is what I have felt comfortable with since I learned proper MM.

Regarding what you said in more detail, others trading for you is not a good comparison as they were trading for you, not for themselves. Not their money, your money, big difference. Penny pips are of no benefit to me as mentioned above. Caring about the money is not an issue either, progressing over my psychological barriers, that is (the profits will just naturally come). Trading with a partner, I dont know about you but one of the things I love most about forex is the independence I have in it, I am my own boss responsible for my own decisions and in charge of my own financial assets. Partnerships turn into messy affairs in my opinion as no two individuals are alike, even when using the same strategy. This thread is a perfect example.

There is one other issue that often gets overlooked, maturity. Just like everything else in life, the more experience we have, the more we work out the kinks in what we do, be it strategy or emotions that accompany what we do. In this bussiness especially, it does not matter if you start when you are 21 (like I did) or if you start when you are 50 years old. In the beggining we are all the same, hyper and amped up all the time, with each pip gained putting a smile on our faces and every pip lost making us panic and possibly pace around. The only thing that may be different is starting equity. While for me 1000$ has meant alot in the past, for others 100,000$ means nothing.

I think I have reached that threshold where I am mature enough that the issues of old are finally overcome, well find out come January. Note that I say this after 2 years live, but we are all different, you may need only 1 year to become successful or even possibly as much as 10 years. The 95% you hear about all the time that FAIL, they give up. Perseverence is key.

I'm flat.

Brandy? Very wise of you... I'll join you with a drop of limoncello.

JgrB

I'm still short from 5080. I've taken a partial profit and am watching the PA, stop at BE+. The short PA is starting to look tired, but I definately don't have a signal to go long yet.

Well limoncello is good too.
But I prefer grappa

yet it is surely a more correct and coherent position

hmmm, looks like BB have some support... don't bet the farm on him being replaced, you could be disappointed

Grappa? The Spanish version of it is orujo,... but both are too strong for me.

JgrB

closed my long +8.. ej is also at the top of a tl earlier today .. eu broke a lower tl on 4hr chart. plus what driver said. it also tested a number i have at 34. also below white line .. so when in doubt i pull out. less child support. also aud jumped back in a ascending tl today but is now barely below. ill wait it out for a while.. i posted lower levels earlier. if we get beyond them while oil is near 76 the bottom could fall out.

im not...but its election time soon.. we have already seen rep attack geitener... and im sure demos up for re-election will attack too..

im out.. took my 8...thank you

Check out USDJPY, it seems headed to retest 88 (long term support, not yet retested after last week breakdown) and EJ should follow it a bit higher. I am getting quite uncomfortable shorting $ against EUR and JPY. US is still the weakest link but central banks worldwide are now in a race to the bottom, trying to devalue their currencies to save exports. Want a call? Go long silver on the next dip (somewhere between 18.7 and 19).

On longer timeframes, sure. On the 5M...not so much. Trading for me is a curvefitting exercise, given the fact that I'm partial to the smaller timeframes: he who fits his trades the closest to the actual price action makes the most pips. My shorter term trades are far more profitable than my long term trades....but the long term trades require far less attention and follow the longer trends.

Can't pm yet cause im a junior member heres the link to the avatar http://cdn.forexfactory.com/nfs/cust...ar121804_1.gif

i was long ej last night and bailed the 2nd touch of 92.. in short now from 92... im not gonna give up but 5 pips if wrong.

thank you.. i will give each a call tomorrow and have a check for their oponetts.. most of the ones i called today have yet to take a position.

So I am short from 1.5090 since yesterday.See attachment.

Good trades to all.