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  • #184,281
  • Jan 24, 2010 10:06pm Jan 24, 2010 10:06pm
i dont know about the rest of you. but my account has x amount of money in it. its not all i have to commit to forex. but its all i have in that account. when i leverage it my broker has it to settle my loss. they stop my loss, before i owe them. this insures all i lose is my account, provided i dont set a sl. i have several accounts sometimes my sl is my account. i cant make the mistake of moving sl where it cost me more. i reduce accounts when i take profits. my accounts for live trading are not my true overall forex account. its just me but i protect it this way. i can not do what has blown many accounts by moving sl further into a red trade. all i can lose is whats in any particuliar account.
those who can, do. those who cant, talk about those who can
  • #184,282
  • Jan 24, 2010 10:08pm Jan 24, 2010 10:08pm
Quoting realjumper
I respectfully submit to you that accounts are no blown due to over leverage, they are blown due to greed.
Right in principle, but I think its hope that screw many traders over....ya kno, the kind of feeling that makes you hang unto trades even when you know it'll never come back.

Why watch -25 pips turn into -250 ? makes no sense.

Nonetheless its ones commitment to their emotions that gets the best of them.


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Back to trading...shorts positioned above the 4180 mark should get a nice squeeze, jmho Current rate 1.4160
  • #184,283
  • Jan 24, 2010 10:10pm Jan 24, 2010 10:10pm
Quoting realjumper
I respectfully submit to you that accounts are no blown due to over leverage, they are blown due to greed.
sorry I do not think you are understanding what I am talking about and the examples I gave.

correct MM is risking no more than 2% per trades , in fact I risk .5% and 1% if i really like the set up

what i was trying to explain is that those that are NOT greedy and have correct MM will not be effected by the change in leverage requirements.
Blogging daily now at www.volume.zone
  • #184,284
  • Jan 24, 2010 10:13pm Jan 24, 2010 10:13pm
Quoting malcolmb14
sorry I do not think you are understanding what I am talking about and the examples I gave.

correct MM is risking no more than 2% per trades , in fact I risk .5% and 1% if i really like the set up

what i was trying to explain is that those that are NOT greedy and have correct MM will not be effected by the change in leverage requirements.
If I could, I would concur 1:400 %.
Si vis pacem, para bellum.
  • #184,285
  • Jan 24, 2010 10:13pm Jan 24, 2010 10:13pm
Quoting malcolmb14
support 1080 , niuce rounded bottom 4 hour , resistance 1100. Above that take it up into 1120 , failed test of 1100 takes it back down into 1080.

as i said though the rounded bottom on 4 hour looks good
may you attach your chart?
is there a correlation with EURUSD?
  • #184,286
  • Jan 24, 2010 10:14pm Jan 24, 2010 10:14pm
Quoting malcolmb14
sorry I do not think you are understanding what I am talking about and the examples I gave.

correct MM is risking no more than 2% per trades , in fact I risk .5% and 1% if i really like the set up

what i was trying to explain is that those that are NOT greedy and have correct MM will not be effected by the change in leverage requirements.
Yes, you're quite right.

However I don't like the thinking that the proposal is designed to 'save us from ourselves'. Those who are greedy and treat FX like a get rich quick scheme, will fail.....no matter what the leverage.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #184,287
  • Jan 24, 2010 10:15pm Jan 24, 2010 10:15pm
2012 is soon.. saints going to superbowl... further proff euro is going the way of the dinosaurs and hell freezing over..
those who can, do. those who cant, talk about those who can
  • #184,288
  • Jan 24, 2010 10:18pm Jan 24, 2010 10:18pm
Quoting anung
may you attach your chart?
is there a correlation with EURUSD?

typically gold goes up usd stronger ...

but if markets tanks there has been case when gold and usd both get stronger.

I would trade each chart as individual charts.

Attached Image (click to enlarge)
Click to Enlarge Name: chart1650.png Size: 262 KB
Blogging daily now at www.volume.zone
  • #184,289
  • Jan 24, 2010 10:18pm Jan 24, 2010 10:18pm
Quoting gatorinla
2012 is soon.. saints going to superbowl... further proff euro is going the way of the dinosaurs and hell freezing over..
Congrats on your first ever Super Bowl berth. I knew they'd pull it off. Too bad my team (NY Jets) crumbled under the pressure. Good luck against INDY.
Si vis pacem, para bellum.
  • #184,290
  • Jan 24, 2010 10:25pm Jan 24, 2010 10:25pm
Leverage can hurt the broker just as much as it can hurt the retail trader. The reasons why it tends to hurt the amateur trader more frequently are emotions and lack of control on markets. Also keep in mind that the broker begins the trade in profit (spread). So higher leverage is beneficial to the broker.
  • #184,291
  • Jan 24, 2010 10:38pm Jan 24, 2010 10:38pm
A few good points made here

 

  1. Not mentioned, people need to learn from their mistakes, making stupid decisions trading FOREX is part of the process.
  2. Not mentioned, A Gambler will always be a gambler, one of my mentors is a world renowned Options trader, he was a classic example of "Do as I say not as I do" because he could not help gambling he could not follow through with his own methodology that has made many people millions.
  3. Greed will always be a factor in any market. It is not governments place to police stupidity, nor to impede my first amendment rights to trade as I please.
  4. 10:1 rule is PLAIN and SIMPLE Bad for Retail FOREX Businesses.

In addition, I have read that there is very little trading going on in the retail Stock market. The primary investors today are communities, cities, and state government plans. For me it took time to learn a few currency pairs well, and that is far less risky then guessing at 40000 stocks every day. In addition I believe that most all speculation has moved over to the FOREX because of trust issues with Wall Street and the better leverage. Truly I can do in a week what took months to do in the stock market.

On other forums it has been speculated that the reason for this new ruling is to force traders back into the stock market by making the FOREX market less desirable.

Most importantly the 10:1 rule does two things

robs the everyone but the elite the potential of clawing their way out of becoming the new lower class before it is too late. Traders that have 100K accounts will still might be able to make a stab out of a little return.

as mfoste1 states traders will take on extra risk just to be able to place a trade.

Talking about what a seasoned trader can do with a 30K account after being in the trenches for years does not address the situation of the person presumably being protected. As a mentor myself, I push the new trader to the higher time frames for protection against fundamentals. A 4 hr chart may require 150 or more pips which will knock the ability of the newbie to trade a safe time frame and move them into the treachery of 30 minute timeframes.

Closing the regulation loop holes are great and good regulatory measures. More people are having their life savings destroyed by people trading other peoples money without knowing or caring about what they do.

Controlling how much people are allowed trade is UN AMERICAN. I am ashamed at how our government has rewarded crooks and shysters and punished and enslaved us.

All should realize that we are one step away from being indentured slaves to the banks, corporations and wall street.

Also an elegant solution to the House of representatives can be found at http://goooh.com
  • #184,292
  • Jan 24, 2010 10:52pm Jan 24, 2010 10:52pm
Quoting JMcGlaughlin
A few good points made here
[list][*]Not mentioned, people need to learn from their mistakes, making stupid decisions trading FOREX is part of the process.[*]Not mentioned, A Gambler will always be a gambler, one of my mentors is a world renowned Options trader, he was a classic example of "Do as I say not as I do" because he could not help gambling he could not follow through with his own methodology that has made many people millions.[*]Greed will always be a factor in any market. It is not governments place to police stupidity, nor to impede...
well spoken.....btw, how ya been ?
greg
hang on to your bread......unless you want toast
  • #184,293
  • Jan 24, 2010 10:55pm Jan 24, 2010 10:55pm
Quoting malcolmb14
typically gold goes up usd stronger ...

but if markets tanks there has been case when gold and usd both get stronger.

I would trade each chart as individual charts.

Attachment
great chart malcolmb,

thanks
  • #184,294
  • Jan 24, 2010 10:55pm Jan 24, 2010 10:55pm
Nice post JM.
  • #184,295
  • Edited Jan 25, 2010 12:41am Jan 24, 2010 11:01pm | Edited Jan 25, 2010 12:41am
Morning to all . Just see the chart , bull is in action now for 1.4220 perhaps & in doing so it can retrace 1.4150 to 40 level & so waiting for a good entry. If retrace to the 2nd level then I will close shorts left weekend having tp 1.4122.
mt4 crashed & reinstalled & hence all new charts .

fontu
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #184,296
  • Jan 24, 2010 11:07pm Jan 24, 2010 11:07pm
...
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  • #184,297
  • Jan 24, 2010 11:11pm Jan 24, 2010 11:11pm
Quoting live4pips
It's not your or their money to decide, if a newbie blows an account it is their business. How about just not letting any of us trade then, what if some one told you you can't trade how would you feel. Whats next you can't open a bank account with out at least a hundred thousand dollars in it. Every one has a right to their own opinion but mine is that they stay the hell out of my financial business. Let me decide for myself what I am willing or not willing to risk.
Forex should be for everyone not just for ppl who has large amount of money
  • #184,298
  • Jan 24, 2010 11:23pm Jan 24, 2010 11:23pm
Quoting bonus76
g** F***d
HAHA
  • #184,299
  • Jan 24, 2010 11:40pm Jan 24, 2010 11:40pm
Quoting bonus76
g** F***d
I reported this. Don't do that again bonus76.
Not all sins are created equal
  • #184,300
  • Jan 24, 2010 11:49pm Jan 24, 2010 11:49pm
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