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  • #321
  • Mar 22, 2010 1:40pm Mar 22, 2010 1:40pm
ya, hey if you don't mind me asking... as this is ultimately why we are here and kind of for the high i guess? hahaha. What do you do with the money you make?


I mean if they were the figures that your posting and with your success you obviously do well. well enough that if you were trading larger lot sizes with your consistency you wouldn't have to work.. at all?

sorry, kind of sounds like im strokin your ego but im just curious bro

thanks
  • #322
  • Mar 22, 2010 5:06pm Mar 22, 2010 5:06pm
I am studying seriously and will try for a full time job in audit field in next 2 months.

Forex is great but i cant depend on it. As i trade daily charts, i think i can do that with a full time job.

I was thinking for last 6 months may be i can earn living from forex after i graduate but no..at the moment it is not possible.

I will be depressed sitting at home and watching charts whole day long.

Lets hope i can get some entry level internal audit job to kickstart my career.

Tough life.
  • #323
  • Mar 23, 2010 11:15am Mar 23, 2010 11:15am
Quoting Br_pippin
ya, hey if you don't mind me asking... as this is ultimately why we are here and kind of for the high i guess? hahaha. What do you do with the money you make?


I mean if they were the figures that your posting and with your success you obviously do well. well enough that if you were trading larger lot sizes with your consistency you wouldn't have to work.. at all?

sorry, kind of sounds like im strokin your ego but im just curious bro

thanks
haha, entertaining question I think. I think once you get into trading, esp once you start getting it right, it's more about the trading than it is about the money. Money is great but honestly is your life going to consist of you waking up every day, sitting at the comp, making a 1000$ and going back to sleep? You'll want to do more whether it's a job or hobby or something else. Most profitable people I know pursue other jobs actually, even if it's for a hobby sort of speak. For me the money's good, but I much more enjoy the fact that I am right when I call the shots or whether its a new strategy/algorithm that works as it's supposed to.

Just my opinion, but most of us start here because of the $ and it's a big driver nonetheless.

Jonas
  • #324
  • Edited 5:03pm Mar 23, 2010 1:08pm | Edited 5:03pm
Quoting Br_pippin
ya, hey if you don't mind me asking... as this is ultimately why we are here and kind of for the high i guess? hahaha. What do you do with the money you make?


I mean if they were the figures that your posting and with your success you obviously do well. well enough that if you were trading larger lot sizes with your consistency you wouldn't have to work.. at all?

sorry, kind of sounds like im strokin your ego but im just curious bro

thanks
hey br,

i put it in equities,( i cashed out all equities though yesterday), IRA, reinvest in forex, savings acct, pay for school, living expenses, spend the rest on travel and whatever i want. Since i cashed out all stocks and etfs, ive gotta bunch of cash sitting there, Ive been looking hard into good "physical assets" to buy.....I found rhodium its a precious rare metal that right now goes for about $2500 per ounce i think. Last year it went up to almost 10,000 then back down. I think i might buy a few ounces of this right now.....goal is to retire before 40, if i can ever find a job as a trader after graduating.
  • #325
  • Mar 23, 2010 1:15pm Mar 23, 2010 1:15pm
I closed out all positions.....starting new positions now. I opened up .75 lots short on e/u, these are the only current positions i have. Im looking to enter short a/u and g/u, but i need a better entry price. It may come later tonight in london session or tomorrow NY, but ill do an update of my charts with these pairs before then. This is my chart ill use to manage eu entries, im looking for a bounce here at S3 and 3295 as a profit target.
Attached Image (click to enlarge)
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  • #326
  • Edited 4:59pm Mar 23, 2010 4:20pm | Edited 4:59pm
Hey, this might be a stupid question but i was just wondering why you have so many lines on your charts? is it some tool you use or do you just draw lines at ever area of s/r?

Edit - And also what pivot points do you use? Daily? Weekly? Monthly?
  • #327
  • Mar 23, 2010 4:42pm Mar 23, 2010 4:42pm
system gave a short on e/u and took a short on the eur/cad. Dont like that pair toooo much but took a short cuz the I have a go on charts!
  • #328
  • Mar 23, 2010 5:05pm Mar 23, 2010 5:05pm
Quoting Scott_16
Hey, this might be a stupid question but i was just wondering why you have so many lines on your charts? is it some tool you use or do you just draw lines at ever area of s/r?

Edit - And also what pivot points do you use? Daily? Weekly? Monthly?


the lines are just my trendlines....The horizontal lines are strong areas of S&R that i derive from monthly, weekly and daily charts, I go back and look how price reacted at these levels. Everything is done freehand. The more lines, the better picture i get of how price is reacting to bearish or bullish numbers.
  • #329
  • Mar 24, 2010 12:20am Mar 24, 2010 12:20am
Makin pretty good money on the eurcad short =D my pound short didnt get picked up (sell limit) and my eur short (sell limit) didn't get picked up either =( could have been done for the week! almost tho!
  • #330
  • Mar 24, 2010 7:42am Mar 24, 2010 7:42am
Quoting Br_pippin
Makin pretty good money on the eurcad short =D my pound short didnt get picked up (sell limit) and my eur short (sell limit) didn't get picked up either =( could have been done for the week! almost tho!


br hold all euro pair shorts as much as you can.....euro is getting dumped. I added shorts last night went short gu also....in some nice profit now.
  • #331
  • Mar 24, 2010 11:19am Mar 24, 2010 11:19am
nice bro. I AM KICKING myself for my short not hittin on the G/U and E/U I am a stingy bastard when it comes to my entry points so my sell limits did not get hit... GRRRR oh well. Thank god we have so many trading days.

=D made good profit on the eur/cad and got out just before the two up hit bars on the 4hr charts.
  • #332
  • Mar 24, 2010 2:06pm Mar 24, 2010 2:06pm
okay foste and anybody else who takes these positions. Looking at my charts, with the positions you have this must be a turning out to be a very good spring break for you haha
  • #333
  • Mar 24, 2010 2:38pm Mar 24, 2010 2:38pm
Quoting Br_pippin
okay foste and anybody else who takes these positions. Looking at my charts, with the positions you have this must be a turning out to be a very good spring break for you haha


yea good time lots of pips....like i said in my previous post im targeting here before a small bounce, then ill add according to pa and stochs, but im thinking around 3440. I havent shorted au and aj yet, but i have orders set. Oil gold being dumped this week....
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  • #334
  • Mar 25, 2010 8:37am Mar 25, 2010 8:37am
Quoting mfoste1
yea good time lots of pips....like i said in my previous post im targeting here before a small bounce, then ill add according to pa and stochs, but im thinking around 3440. I havent shorted au and aj yet, but i have orders set. Oil gold being dumped this week....

target hit no bounce......next im looking for 3215 big number on my charts. Got uchf entry as well as gu
Attached Image(s) (click to enlarge)
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  • #335
  • Mar 26, 2010 8:31am Mar 26, 2010 8:31am
3215 still my target....took profit on uchf, holding all other positions.....didnt like gdp numbers ill probably stay out today no new entries till next week. If I see anything ill post on here. If there is a retrace i have more shorts set at 3447-55.
  • #336
  • Mar 29, 2010 1:33pm Mar 29, 2010 1:33pm
no open positions right now, booked profits from last week....this is what im looking at now. HUGE sellers(smells like ACBs and Swiss bank) at these fib levels, we are at one now, ive set orders. From small to large size....3493, 3512, 3519, 3530. Stops above 3550. Right now im just sticking to eu, i dont have a great feel right now for other pairs. Here are the charts.
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  • #337
  • Mar 29, 2010 1:46pm Mar 29, 2010 1:46pm
I agree on your positions for a short on the EUR. Okay so dissappointing news. No capital yet. How did everyone get their trading capital. Having a hard time coming up with the sufficient amount to trade with without being under capitalized.

How did you do this last month?
  • #338
  • Mar 29, 2010 2:18pm Mar 29, 2010 2:18pm
Quoting Br_pippin
I agree on your positions for a short on the EUR. Okay so dissappointing news. No capital yet. How did everyone get their trading capital. Having a hard time coming up with the sufficient amount to trade with without being under capitalized.

How did you do this last month?


I took half from money that I saved from working a job, the other half i took out a fed student loan. IMO thats the worst thing you can do is get in undercapitalized....It just feeds that mentality "afraid to lose money", which you will never be a consistent winner if thats the case.

I did just over 35% last month....that was quite a step back from the months on jan and feb where I made very large returns. This month im looking for a bit higher, every month Im getting better and better with picking great entry and exit points.
  • #339
  • Mar 29, 2010 2:49pm Mar 29, 2010 2:49pm
how long have you been trading live profitably. and thats really awesome. yeah I am kind mulling over some different ideas for getting in. I kind of want to have at least 5k to start that way I can put like 2-3 in the bank and take 2-3 live. gives me some leeway. I don't think I need to much and almost all brokers allow micro accounts. which is fine. I do want to get to the point where I am trading standard lots tho. (small goal of mine)

if You dont mind me asking how much did you start with in your live account? and how was the first couple of months of live trading?
  • #340
  • Mar 29, 2010 2:57pm Mar 29, 2010 2:57pm
Quoting Br_pippin
how long have you been trading live profitably. and thats really awesome. yeah I am kind mulling over some different ideas for getting in. I kind of want to have at least 5k to start that way I can put like 2-3 in the bank and take 2-3 live. gives me some leeway. I don't think I need to much and almost all brokers allow micro accounts. which is fine. I do want to get to the point where I am trading standard lots tho. (small goal of mine)

if You dont mind me asking how much did you start with in your live account? and how was the first couple...

ive traded consistently profitable for about 9 months. I started that with 5k, then I developed my scheme to bank profits as i said earlier( Every month start new with 5k, whatever profit is left in ur account at the end of 25-30days throw it in the bank, then start new with 5k this way you limit risk and if ur profitable you always bank profit).

I originally started trading live with 1k-----found it undercapitalized ended down 40%.....went back to demo, started again with 2k------again, undercapitalized to my strategy, ended down 30%......went back to demo learned really how to trade ie that mentality that ive been talking about. Started again with 5k....success

The important lesson is, if ur undercapitalized dont even bother trading live bc ur gonna be afraid to lose that money, and i can assure you that you will....fearless trading, armed with the right tools, knowledge and attitude is the only way to be successful. Think of it as a war....would you go into battle without proper training, strategy and weapons?
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