my favorite pairs are: EU, AU & GU, but i find it so spikey the GU for 4 weeks now, so i tried to avoid that pair for now. Since i started this journal, i find it so difficult for me to monitor 2 pairs while updatiing my journal regularly for i'm trying my best to be in real time as well on my journal while in my trades.
why did you ask?
- #202
- May 29, 2010 4:55am May 29, 2010 4:55am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
Success consists of going from failure to failure without loss of enthusiam
- #204
- May 29, 2010 5:15am May 29, 2010 5:15am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
normally for the first scout how much you would risk how many percent of your account equity? and btw you thread have give me many ideas on how to skin a cat, like feb say...
okay if it's me, once i have the feel of the market and know which direction she's heading i will always send a scout (1x0.5 lot with a leverage of 50:1) and when further confirmation of the trend is clear, i will prepare my attack sequence (my army) of 1,1,2 with 1 & 2 got a leverage of 100:1. the reason behind this is for me to allocate more units if need be, a future attack... and worse scenario, that i can have more ammo if rescue operations need be.
i know my risk, for it's always calculated... if i know i catched the wrong bus, there's no way i'm gonna implement rescue ops... i will kill them straightaway ( fti say - not all scout can be rescued and scouts are expendible)
i never follow the common MM saying never trade or have an exposure more than x%, you see for me, as long as i know what i'm doing and comfortable with i'm okay with that, i go sometimes as high as 15% exposure in a single trade. bad or good, i dunno so far it works for me.
One day i will be hit big time! that's what some people pm me here
the reason why i cannot just leave my open trade... my eyes are alway glued to my trade, when worst comes... i close and cut lossers straightaway. damage control as fti say p.s. i have had posted few of my blotters for you to see what i'm talking about - remember it's a live trading
Success consists of going from failure to failure without loss of enthusiam
- #205
- May 29, 2010 5:22am May 29, 2010 5:22am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
for the scout, you can allocate as low as you could possibly be since this is an expendable soldier and when it will be in deep waters, it's not a big thingy to cut him loss you can go as low as your broker allow you to. me with my fxcm account i can go aslow as 1 dollar but my forexct account the lowest is just the regular 100,000 k lot.
so my trick is, i use fxcm for scout and my forexct for normal attack sequence because they give me a good deal i mean a good spread - like EU spread is mostly 1 pip.
you can go as low as your broker allow you to. me with my fxcm account i can go aslow as 1 dollar but my forexct account the lowest is just the regular 100,000 k lot.so my trick is, i use fxcm for scout and my forexct for normal attack sequence because they give me a good deal i mean a good spread - like EU spread is mostly 1 pip.
Success consists of going from failure to failure without loss of enthusiam
- #206
- May 29, 2010 5:25am May 29, 2010 5:25am
i think i really cant handle the trade just like you...if i risk that much like you do...my heart will be pounding very fast...sometime i really can get a clear sense of the trend. but just cant handle the trade very well...i think you trade management is really good, you got a clear sense how to take the profit at maximize...and how do u manage your loss, you manage it based on what..sorry to ask you so many question, cause i think i really can learn a lot from you...
- #207
- May 29, 2010 5:33am May 29, 2010 5:33am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
i think i really cant handle the trade just like you...if i risk that much like you do...my heart will be pounding very fast...sometime i really can get a clear sense of the trend. but just cant handle the trade very well...i think you trade management is really good, you got a clear sense how to take the profit at maximize...and how do u manage your loss, you manage it based on what..sorry to ask you so many question, cause i think i really can learn a lot from you...
as what they always said, ask if you don't know until you know
"damage is part of the battle, recovery is essential , victory is the objective."
- fti
i blew up my account so many times and funding it not only twice... i guess after i had the correct mindset and start to believe that i have the edge and start to win small victories... i realize a loss is a loss, no matter what it lost, you can whinge or cry but the fact is, you loss it.
i can say that now, i just consider loss as loss period! i get over it. i badmouthed myself sometime (on large exposures) but i have to deal with it, and move on... take another trade.
I accept the fact that once i engage myself in trade at anytime, i am prone to a loss, that's why i need to be nimble and be quick.
Success consists of going from failure to failure without loss of enthusiam
- #208
- May 29, 2010 5:35am May 29, 2010 5:35am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
i think i really cant handle the trade just like you...if i risk that much like you do...my heart will be pounding very fast...sometime i really can get a clear sense of the trend. but just cant handle the trade very well...i think you trade management is really good, you got a clear sense how to take the profit at maximize...and how do u manage your loss, you manage it based on what..sorry to ask you so many question, cause i think i really can learn a lot from you...
my friend for a start, you can use a mini or even micro mini account that you can practice. i believe not until you are in the dance floor that you feel the music and struggling for the right moves, you will never really learn and understand what i'm talking here in my journey. start with something you can be comfortable with.
Success consists of going from failure to failure without loss of enthusiam
- #209
- May 29, 2010 5:40am May 29, 2010 5:40am
as what they always said, ask if you don't know until you know
"damage is part of the battle, recovery is essential , victory is the objective."
- fti
i blew up my account so many times and funding it not only twice... i guess after i had the correct mindset and start to believe that i have the edge and start to win small victories... i realize a loss is a loss, no matter what it lost, you can whinge or cry but the fact is, you loss it....
- #210
- May 29, 2010 5:43am May 29, 2010 5:43am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
yes my friend...i'm just like the way you manage the trade...i will read you thread a few times....it will be bad if u dont continue this journal anymore...
i'll try my best
Success consists of going from failure to failure without loss of enthusiam
- #212
- May 29, 2010 5:50am May 29, 2010 5:50am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
bye for now...have to go for dinner....tonight i will read you thread again...
Success consists of going from failure to failure without loss of enthusiam
- #213
- May 30, 2010 2:07am May 30, 2010 2:07am
stumbled your journal, it's very good read and i wish i can follow. i am new in this business but i just burn all my money so now i'm doing demo account hoping to learn the right skills and i can start winning again.
please consider me your follower
a friend,
dward
please consider me your follower
a friend,
dward
Hey mate
Still reading TAF... U mentioned a summarized Fti's teaching... Is it your compliation of fti's teaching? Can you share the summarized teaching with me
Regarding the dance... How do u get in tune with the mkt to dance with her?
Thks in advance for your time & effort in reading & hopefully responding.
Hope u can keep the journal so as to serve as aspiration for newbies like me.
Pip well
Sylar
Pip well
Still reading TAF... U mentioned a summarized Fti's teaching... Is it your compliation of fti's teaching? Can you share the summarized teaching with me
Regarding the dance... How do u get in tune with the mkt to dance with her?
Thks in advance for your time & effort in reading & hopefully responding.
Hope u can keep the journal so as to serve as aspiration for newbies like me.
Pip well
Sylar
Pip well
"Thinking Heart & Feeling Brain"
- #215
- May 31, 2010 1:38am May 31, 2010 1:38am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
Hey mate
Still reading TAF... U mentioned a summarized Fti's teaching... Is it your compliation of fti's teaching? Can you share the summarized teaching with me
Regarding the dance... How do u get in tune with the mkt to dance with her?
Thks in advance for your time & effort in reading & hopefully responding.
Hope u can keep the journal so as to serve as aspiration for newbies like me.
Pip well
Sylar
Pip well
no problem mate i will send it to you but i still suggest you read the thread because you will learn a lot of valuable things from the posters too, of their shared thoughts.
;send me your email address i'll send you now.
regards,
dongsky
Success consists of going from failure to failure without loss of enthusiam
- #216
- May 31, 2010 1:43am May 31, 2010 1:43am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
i'm still eyeing for an entry, there's not much action yet waiting....
waiting....
Success consists of going from failure to failure without loss of enthusiam
- #217
- May 31, 2010 1:49am May 31, 2010 1:49am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
stumbled your journal, it's very good read and i wish i can follow. i am new in this business but i just burn all my money so now i'm doing demo account hoping to learn the right skills and i can start winning again.
please consider me your follower
a friend,
dward
i appreciate your kind words and thank you.
be good and be safe.
regards,
dongsky
p.s. here's the link: http://www.forexfactory.com/showthread.php?t=57639
Success consists of going from failure to failure without loss of enthusiam
- #218
- May 31, 2010 1:55am May 31, 2010 1:55am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
Success consists of going from failure to failure without loss of enthusiam
- #219
- May 31, 2010 1:57am May 31, 2010 1:57am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
darn i just miss the swing down while posting the chart 
well anyway i'll wait for another entry
well anyway i'll wait for another entry Success consists of going from failure to failure without loss of enthusiam
- #220
- May 31, 2010 1:58am May 31, 2010 1:58am
- Joined Sep 2009 | Status: Trader | 5,979 Posts
Success consists of going from failure to failure without loss of enthusiam