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  • #190,181
  • Feb 4, 2010 4:38pm Feb 4, 2010 4:38pm
here is a helpful file, that i try to read everyday before trading i have my own rules on a board infront of me

Hope other people find it helpful.
Attached File(s)
File Type: pdf 25_Rules_Of_Forex_Trading_Discipline.pdf   122 KB | 279 downloads
  • #190,182
  • Feb 4, 2010 4:40pm Feb 4, 2010 4:40pm
Quoting Atlast
Perhaps you should learn to draw some lines like these and you'd have the confidence next time.

Hi Guys, just poppin in to say Good pippin for the rest of the year.
Hi Atlast....thanks, and all the best to you and yours as well
Doing what you like is Freedom. Liking what you do is Happiness.
  • #190,183
  • Feb 4, 2010 4:41pm Feb 4, 2010 4:41pm
Quoting Radik
I am fully loaded toward North. But the price is too close to my SL, and I start loosing confidence in my positions...
patience, the PA is itching to move up new low 3712, which is very market like 2 pips away from round numbers, that's why i always set my TP's 2-3 pips higher from round numbers, and never feel bad if it goes 10-20 pips lower than my TP, better to plan and hit, then plan and not hit (I HATE THAT)
  • #190,184
  • Feb 4, 2010 4:41pm Feb 4, 2010 4:41pm
Quoting Clouds
everythings in free fall! The end is near
Haha, do it like its 2012.
  • #190,185
  • Feb 4, 2010 4:43pm Feb 4, 2010 4:43pm
hello everybody.

I guess a lot of movement till tomorrow news will be decided by Tokyo, I believe USD/JPY shoul go up, cous strong JPY is not good for them, and they will try to sell their currency, I believe it should dump EUR even lower! What do you think?
  • #190,186
  • Feb 4, 2010 4:48pm Feb 4, 2010 4:48pm
Quoting smokemachine
hello everybody.

I guess a lot of movement till tomorrow news will be decided by Tokyo, I believe USD/JPY shoul go up, cous strong JPY is not good for them, and they will try to sell I believe tjis should dump EUR even lower! What do you think?
It's a tough one, I think we might see some sideways action on U/J, because even if they intervene with selling it, the natural strength of JPY, which out weighs USD will not get much done, but it will keep it swinging between 2 numbers(top&bottom).

Just usual JPY Asian session, calm like the dead sea, Unless someone makes a big splash.
  • #190,187
  • Feb 4, 2010 4:49pm Feb 4, 2010 4:49pm
Quoting gatorinla
need 2 more pips
I was riding this fall, needing to cover some losses made yesterday... but I was anxious, and wanting to close prematurely;
It was your insistence to see fresh lows that helped me to hang in there.
Short closed at 1.3717, +100 pips bagged (50 more than what I was aiming).
Great calls, great analysis... thank you! Hope you'll get those 2 more pips!
  • #190,188
  • Feb 4, 2010 4:50pm Feb 4, 2010 4:50pm
Quoting Radik
I am fully loaded toward North. But the price is too close to my SL, and I start loosing confidence in my positions...
I am still trying to figure out how to respond on this forum. I just entered a long @ 1.3732 about 10 min. ago. What I do is compare the PA of the majors, plus a few crosses, that's all. I tend to wait as long as possible before entering a trade, but always contrary to the Trend. You have to learn how to hold your breath! I also just take it in if I have to accept a move against me. You need to have enough account depth to allow for that. I hope you can hold on. This is not conventional Trading Wisdom, but it works for me.
  • #190,189
  • Edited 4:53pm Feb 4, 2010 4:50pm | Edited 4:53pm
Quoting kilalik
My advice:
1: learn the basics (fundies)
2: learn Technical Analysis
3: demo account with the minimum amount you can choose from demo
4: trade at the lowest leverage that you can (1pip=50 cents)
5:Make rules, create your own trading style
6: Be ready to sacrfice lots of neurvs and many night and mornings
7: After successful 1-2 months of demo, start account with max 500 dollars
8: Which you should do all the time, visit this site for advice.

Sounds like superb advice.
Fits with exactly what i've done more or less.
One of my live accounts has real low pip values (micro account) and that taught me the move from play money to real without much risk and that helps you psychologically shift to the real world.

Then i've gone for another account which allows bigger money to be played.

Read up as much as you can.

I started with real money trading about 4 days ago and have turned over 200pips in my favour. Although this is undoubtedly some beginners luck, and is pretty modest at the levels i'm investing, i'm pleased.

Chuffed actually.
  • #190,190
  • Feb 4, 2010 4:53pm Feb 4, 2010 4:53pm
gator should close now, screw 10 pips or so, you can make that scalpin
  • #190,191
  • Feb 4, 2010 4:56pm Feb 4, 2010 4:56pm
Quoting kilalik
It's a tough one, I think we might see some sideways action on U/J, because even if they intervene with selling it, the natural strength of JPY, which out weighs USD will not get much done, but it will keep it swinging between 2 numbers(top&bottom).

Just usual JPY Asian session, calm like the dead sea, Unless someone makes a big splash.
Well, when I was studying economy, I was really interested in Japan cous you now how powerful their economy is, and many native companies like Samsung, Toyota... ect. have special departments which trade currency so that they receive more money for they`r shipments while it is on its way. And that is the fact!
  • #190,192
  • Feb 4, 2010 4:58pm Feb 4, 2010 4:58pm
500 pip days? When were those? I've only been in FOREX since last summer.
Quoting gatorinla
need 2 more pips... slippage ?? may just be 09.............but i dont know.. maybe 19 pips.. we will c... this is a strong bear. we could go back to 500 pip days..
  • #190,193
  • Feb 4, 2010 4:59pm Feb 4, 2010 4:59pm
Quoting Hotte&Co
gatorina, kilalik, Driver 55, Tonyo ! All of you who has experience trading !

Congratulations for your posts on forexfactory. I'm following you on this trend, it's very interesting

I'm a 21 years old trader.

I do have money to invest, but I do not have the time.

I want to diversify my investments with the Forex market and feel I'm not ready to trade on my own

I am looking for a teacher, a manager, let's get to the point someone that helps me... with his expertise..MAKING $$$

Maybe an : FSS, FSA......
Got only one item in my list.
1. Screen time.
Shame you can not take my advice.
  • #190,194
  • Feb 4, 2010 5:00pm Feb 4, 2010 5:00pm
Quoting smokemachine
Well, when I was studying economy, I was really interested in Japan cous you now how powerful their economy is, and many native companies like Samsung, Toyta... ect. have special departments which trade currency so that they receive more money for they`r shipments while it is on its way. And that is the fact!
Thats been the case with Japan ever since I learned all of this shit.
Swiss began doing the same shit after CHF got hit with EUR weakness.

Wow GOlds spot looks so sweet nice ass dive
  • #190,195
  • Feb 4, 2010 5:00pm Feb 4, 2010 5:00pm
Quoting Fleeter
I am still trying to figure out how to respond on this forum. I just entered a long @ 1.3732 about 10 min. ago. What I do is compare the PA of the majors, plus a few crosses, that's all. I tend to wait as long as possible before entering a trade, but always contrary to the Trend. You have to learn how to hold your breath! I also just take it in if I have to accept a move against me. You need to have enough account depth to allow for that. I hope you can hold on. This is not conventional Trading Wisdom, but it works for me.
I see 2 different Fibbs (38.2 & 50) at this level, also I have a drawn support/res. (dont remember when did i put it on chart, probably from the last year). What makes it to stay here? Where all the buyers?
  • #190,196
  • Feb 4, 2010 5:03pm Feb 4, 2010 5:03pm
question how in the heck did you get line C? is there a angle you need to make to bring that line accross
Thanks
Randy


quote=Atlast;3432843]Perhaps you should learn to draw some lines like these and you'd have the confidence next time.

Hi Guys, just poppin in to say Good pippin for the rest of the year.[/quote]
One good turn gets most of the blankets.
  • #190,197
  • Feb 4, 2010 5:04pm Feb 4, 2010 5:04pm
Quoting vinesh2
No one seems to read my posts
I read your posts man. As I said yesterday one can gain some good insight in reading what is going on in other peoples heads. Some people post a lot of BS while others post some very worthwhile things. I read your posts with interest. Keep on postin' and pippin'.

I had a good day today myself.... gained 263 pips and am very happy.

The reason I had a good day today is because of people like you that are sharing their insights and knowledge with us newer folks. For that I say thanks!
  • #190,198
  • Feb 4, 2010 5:07pm Feb 4, 2010 5:07pm
All signs show retrace on USD for now, no guarantee until we pass 3751 lvl (gator previous i think)

So gator how far you think it will go back up, you much better at this than I am, i'm still working on my fib's ret. skills
  • #190,199
  • Feb 4, 2010 5:13pm Feb 4, 2010 5:13pm
Quoting tonirai
I was riding this fall, needing to cover some losses made yesterday... but I was anxious, and wanting to close prematurely;
It was your insistence to see fresh lows that helped me to hang in there.
Short closed at 1.3717, +100 pips bagged (50 more than what I was aiming).
Great calls, great analysis... thank you! Hope you'll get those 2 more pips!
those who can, do. those who cant, talk about those who can
  • #190,200
  • Feb 4, 2010 5:13pm Feb 4, 2010 5:13pm
Quoting kilalik
You need to trade for yourself, taking advice is betting on someone elses ideas, you will still lose, becuase you don't know when that person changes his mind... Market can turn on you in 1 sec.


thank you kilakik !

But, I'm really looking to pay someone to trade on my account with a comission or an annual fee.

UNTILL, I know enough to trade on my own.
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