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  • #561
  • Edited 5:12pm Aug 16, 2010 4:56pm | Edited 5:12pm
Quoting Tonest3r
Anyone Long Euro/Yen?

be careful, thats a super risky trade right now.....lotta yen accumulation going on right now.
  • #562
  • Aug 16, 2010 7:23pm Aug 16, 2010 7:23pm
Yep already stopped out margin called actually, been trading large on a very small account, need to adjust again, was on a good run these past few weeks
  • #563
  • Aug 16, 2010 7:31pm Aug 16, 2010 7:31pm
Quoting Tonest3r
Yep already stopped out margin called actually, been trading large on a very small account, need to adjust again, was on a good run these past few weeks

are you trading live?
  • #564
  • Aug 16, 2010 8:21pm Aug 16, 2010 8:21pm
Quoting mfoste1
are you trading live?
I hope not
In hoc signo vinces
  • #565
  • Aug 16, 2010 10:33pm Aug 16, 2010 10:33pm
Of course
  • #566
  • Aug 16, 2010 10:44pm Aug 16, 2010 10:44pm
Quoting Tonest3r
Of course

yeaaa you should try and avoid margin calls at all costs
  • #567
  • Aug 17, 2010 6:29am Aug 17, 2010 6:29am
first trade this week - yesterday went long eurusd, half closed at 1.2900, now SL on BE - almost got hit , and I've made small looser today od usdcad long.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 414 KB
  • #568
  • Aug 17, 2010 4:22pm Aug 17, 2010 4:22pm
Quoting mfoste1
yeaaa you should try and avoid margin calls at all costs
Hahaha, that's a nice quote.

GBP/NZD hit target way sooner than I expected...all trades closed at expected TPs (+6%). Looking on Dailies for entries now...

Might long USD/CAD and then wait for an initial short entry for the following weeks to come.
  • #569
  • Aug 18, 2010 7:52am Aug 18, 2010 7:52am
Quoting sqrt(-1)
Hahaha, that's a nice quote.

GBP/NZD hit target way sooner than I expected...all trades closed at expected TPs (+6%). Looking on Dailies for entries now...

Might long USD/CAD and then wait for an initial short entry for the following weeks to come.
nice calls man

I was watching PA on USDCAD around 1.300 for long entry too but nothing interesting there for me, but i'm long audusd at 0.90300, going well, first PT approaching then will move SL to BE, and today's intraday scalps on e/u were bad, one lose one win just a little profit there
  • #570
  • Aug 18, 2010 1:08pm Aug 18, 2010 1:08pm
Matt how are things out at Kent? What kind of fibs do you use?
Thanks
S
  • #571
  • Aug 18, 2010 1:20pm Aug 18, 2010 1:20pm
Quoting Styngray
Matt how are things out at Kent? What kind of fibs do you use?
Thanks
S

hey man, Im well.......I use standard fib I draw them on daily and weekly charts they act as strong levels of support and resistance and price targets for big money.....I'll show you what I mean, just throw a chart up there if you have any questions.
  • #572
  • Aug 18, 2010 5:31pm Aug 18, 2010 5:31pm
Thanks katrooo.

USD/CAD needs a retrace on the 3 hr chart soon -I say tomorrow from all of this downward movement thus far. That being said, I might get in a long today and close tomorrow before waiting for a nice price to load up on shorts. mfoste1, still holding those longs from before? If so, what price?
  • #573
  • Aug 18, 2010 5:51pm Aug 18, 2010 5:51pm
Why do I always lose even after reading books on Technical Analysis and all the stuff. I use eToro for trading cause it allowed me to start with a minimum deposit for 50$. After blowing up that account within days I put another 250$ on it thinking that I have had some experience, maybe I would be better off now.

I'm already down to 200$ within a week. What should I do??? I really need some assistance.

Currently I follow the 5 minute trend following strategy and occasionally trading when big news comes up.

What strategy should I follow! Eventhough I am losing money, I enjoy forex trading, but I want to start having more winning trades than losing trades???

Any suggestions!!
  • #574
  • Aug 18, 2010 6:00pm Aug 18, 2010 6:00pm
Quoting sqrt(-1)
Thanks katrooo.

USD/CAD needs a retrace on the 3 hr chart soon -I say tomorrow from all of this downward movement thus far. That being said, I might get in a long today and close tomorrow before waiting for a nice price to load up on shorts. mfoste1, still holding those longs from before? If so, what price?


nah I took profit just below 1.04.........I might re-enter the trade closer to 1.02.
  • #575
  • Aug 19, 2010 5:31am Aug 19, 2010 5:31am
Quoting TheShiva
Why do I always lose even after reading books on Technical Analysis and all the stuff. I use eToro for trading cause it allowed me to start with a minimum deposit for 50$. After blowing up that account within days I put another 250$ on it thinking that I have had some experience, maybe I would be better off now.

I'm already down to 200$ within a week. What should I do??? I really need some assistance.

Currently I follow the 5 minute trend following strategy and occasionally trading when big news comes up.

What strategy should I follow! Eventhough...
Hi Shiva,

I think you should stop trading live firstly, because you will loose another money. If you are able to blow your account in few days you have probably problems with psychological aspect of trading and you don't have enough knowledge about risk management, which is essential in trading. It's NOT about STRATEGY, you will probably loose with whatever strategy it's only YOU what is important. And at all you should know that trading is LONG run and you won't be rich in few years. Have you been trading demo? It's essential for getting the feel for the market and you can't be profitable without that. Try to focus on bigger TF's cos there is less noise, it usually takes few years of screentime until you get able to read 5m TF well, so go on dailies, 4h and try to focus on basic stuff like S/R, trendlines and PA, don't waste your time like most of us did in the beginning and don't use indicators except MA's and maybe sth for divergencies, because I can't imagine that smbdy is succesfull with that, i know that there are such traders bud they are ussually pulling the trigger not only what indies are telling but with gut market feel....trend following strategy is ok but i wouldn't recommend news trading for newbies if you don't have good macroeconomics skills for longerterm view and then charts for good entry, but classic news daily released are already calculated in market so it's good only if news are worse or much better than expected numbers and even that there you will get killed with sllipagge


Happy trading. Mike
  • #576
  • Aug 19, 2010 6:01am Aug 19, 2010 6:01am
Quoting TheShiva
Why do I always lose even after reading books on Technical Analysis and all the stuff. I use eToro for trading cause it allowed me to start with a minimum deposit for 50$. After blowing up that account within days I put another 250$ on it thinking that I have had some experience, maybe I would be better off now.

I'm already down to 200$ within a week. What should I do??? I really need some assistance.

Currently I follow the 5 minute trend following strategy and occasionally trading when big news comes up.
What strategy should I follow!...
there is your problem.............
  • #577
  • Aug 19, 2010 6:06am Aug 19, 2010 6:06am
Quoting mfoste1
there is your problem.............
Hahah my bro
"Buy on fear, sell on greed !!!
  • #578
  • Aug 19, 2010 9:28am Aug 19, 2010 9:28am
I need to learn about forex trading as well.
I read couple of articles which gave me familiarity with the terminology but I need to have advice from you guys in order to speed up the learning and try to make some money.

First of all I am a uk resident ,what will be the best account site for me to open?
i have heard of oanda but can i use it with gbp currency?
I am looking forward to use EUR/GBP as pairs ,do you think this will be good or is best to use some other pairs?
what is the best demo forex practicing site to practice a bit?
thank you in advance
  • #579
  • Aug 19, 2010 9:55am Aug 19, 2010 9:55am
Quoting Cpu2007
I need to learn about forex trading as well.
I read couple of articles which gave me familiarity with the terminology but I need to have advice from you guys in order to speed up the learning and try to make some money.

First of all I am a uk resident ,what will be the best account site for me to open?
i have heard of oanda but can i use it with gbp currency?
I am looking forward to use EUR/GBP as pairs ,do you think this will be good or is best to use some other pairs?
what is the best demo forex practicing site to practice a bit?
thank you in...
go here read the whole site..... www.babypips.com

open a demo account at oanda get familiar with charts

oanda is good.....I use dukascopy and fxcm(i recommend dukascopy)
  • #580
  • Aug 19, 2010 10:11am Aug 19, 2010 10:11am
Quoting Cpu2007
I need to learn about forex trading as well.
I read couple of articles which gave me familiarity with the terminology but I need to have advice from you guys in order to speed up the learning and try to make some money.

First of all I am a uk resident ,what will be the best account site for me to open?
i have heard of oanda but can i use it with gbp currency?
I am looking forward to use EUR/GBP as pairs ,do you think this will be good or is best to use some other pairs?
what is the best demo forex practicing site to practice a bit?
thank you in...
Oanda is good for live trading, i think for demo trading it would be better with MT4, Alpari for example it doesn't matter, and about EURGBP it's one of the most unpredictable pair at all it's highly corelated with e/u and cable and it depends on these two pairs, my coleagues with 10+ years of trading experience in bank told me to never trade eurgbp they 've never traded that pair and I can tell you to not do it too, try to focus on eurusd, it's the most traded pair with best liquidity, there is not a lot of spikes or noise....
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