GU slammed off 1.4940, nearly went short but hesitated and missed my entry. Damn!
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I'd rather make money than be right. 
Cable Update (GBPUSD)
- #204,821
- Mar 10, 2010 5:50am Mar 10, 2010 5:50am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
- #204,822
- Mar 10, 2010 5:50am Mar 10, 2010 5:50am
- | Joined Aug 2009 | Status: Save our Children's Save our Future | 1,124 Posts
Last week I went short at current level and got srew my ass then..... The 2nd effort to break the major support 1.4854 !
happy green pips...
I will be the number one Manager.
- #204,824
- Mar 10, 2010 5:53am Mar 10, 2010 5:53am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
TP @ 14940 (+50)
Might add to my shorts again now. Just waiting for the right price, as the retrace has not completed yet.
Actually, not quite! I'll change that to 14945!
- #204,835
- Mar 10, 2010 6:25am Mar 10, 2010 6:25am
- | Joined Aug 2009 | Status: Save our Children's Save our Future | 1,124 Posts
Job done, +1%.
if don't mind, may i know, how long you've been trading mate? did you make profit with doing that? i see you take little here and here, (even in danger area) SL and TP almost same 1:1, do you have system that give you 90% accuracy ?
I will be the number one Manager.
- #204,837
- Mar 10, 2010 6:29am Mar 10, 2010 6:29am
- | Additional Username | Joined Jan 2010 | 195 Posts
My strike rate is nowhere near 90%..I wish! The minimum I do is 1:1 and usually 1:2. I prefer scalping than longer term trades as I seem to have a better feel for the shorter term.
I'm making gains which is all I worry about.
I made 1%. Risk 1%, gain 1%. Pips aren't the be all and end all. 15 pips at 1% is the same as 100 pips at 1%.
{Promotion Removed}
- #204,838
- Mar 10, 2010 6:38am Mar 10, 2010 6:38am
- | Joined Aug 2009 | Status: Save our Children's Save our Future | 1,124 Posts
I've been trading off/on for nearly 2 years and full time for the last 9 months.
My strike rate is nowhere near 90%..I wish! The minimum I do is 1:1 and usually 1:2. I prefer scalping than longer term trades as I seem to have a better feel for the shorter term.
I'm making gains which is all I worry about.
I made 1%. Risk 1%, gain 1%. Pips aren't the be all and end all. 15 pips at 1% is the same as 100 pips at 1%.
I will be the number one Manager.
- #204,839
- Mar 10, 2010 6:40am Mar 10, 2010 6:40am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
futures are flat again... very undecided market atm. Gonna sit on the sidelines for now.
)
- #204,840
- Mar 10, 2010 6:41am Mar 10, 2010 6:41am
- Joined Oct 2009 | Status: Trader | 1,342 Posts
I have to be bold here, I want to protect all those newbees...Do not trade in Forex, it will screw your mind up and start begging for money on your retirement, because addiction in forex is wrost than casino gambling
the problem with all those responses I got so far including the baby trader and the likes...I have encountered so many fund managers in my life..The problem is that the trading account when is openned it could indicate that it was openned 5 years ago, but on the other hand, i.e Baby trader as a fund manager could have sub accounts...
I'm not a fund manager and also not a full time trader.
I trade my personal account which started with 7000$
read this Copied from FXCM
http://www.fxcm.com/risk-warning.jsp
Risk Warning
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.