this is au . i look at the risk before the gains
Attached Image (click to enlarge)
- #299,262
- Sep 30, 2010 8:29pm Sep 30, 2010 8:29pm
- Joined Nov 2009 | Status: Thx G, Malc, D55, Fontu & Hatch | 3,196 Posts
- #299,263
- Sep 30, 2010 8:33pm Sep 30, 2010 8:33pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
Fundimentals, Technicals, Indicators, PA... I feel so sure bu yet so unsure all at the same time.
Need to find a simpler way to trade. I read saily about some of these guys pulling 100 to 200+ pips a day everyday almost seeming to take no effort. I would love to figure out what they already seem to know.
If you have understood that already you have come a long way...
Pips in itself doesn't matter that much, I reckon your position size and win per cent age matters more...
I truly believe that you have to find your own style of trading.
are you..
1. A stressed trader = small risk/reward with trades open for 10-180 minutes (short).
2. Normal trader = 1:3-5 r/r, swing trading etc. (3 hours - days)
3. W. Buffett = pure fundamental and looong term (weeks) technical analyses + funnymentals...
In all these three we have heaps of under sections...
-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
Pulling out money from the market is an art and there is only 3 things that matters.
1. The price (which you can't control)
2. Your position size
3. positions taken... (risk/reward)
I stopped loosing money when I first went my own way, and with that I mean, forgetting everything I have ever read and started all over again...
As a trader you have to interpret the market your own way and there is no rules on how you play it...
But remember this, the market is a battlefield where the war never ends for those who fight wisely... pick your battles....
- #299,264
- Sep 30, 2010 8:36pm Sep 30, 2010 8:36pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
"If The Fool persists in his Folly he will become wise." - William Blake
- #299,265
- Sep 30, 2010 8:37pm Sep 30, 2010 8:37pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
If you have understood that already you have come a long way...
Pips in itself doesn't matter that much, I reckon your position size and win per cent age matters more...
I truly believe that you have to find your own style of trading.
are you..
1. A stressed trader = small risk/reward with trades open for 10-180 minutes (short).
2. Normal trader = 1:3-5 r/r, swing trading etc. (3 hours - days)
3. W. Buffett = pure fundamental and looong term (weeks) technical analyses + funnymentals...
In all these three we have heaps of under sections...
-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
Pulling...
I look to trade daily taking trades that last from 1-2 hrs up to 1 day depending on PA. I trade some news and have been studying some sclaping systems / methods but as of yet am not confident enough to actually trade that way.
Today's zone = Tomorrow's opportunity!
- #299,267
- Sep 30, 2010 8:50pm Sep 30, 2010 8:50pm
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
Red
- #299,268
- Sep 30, 2010 9:02pm Sep 30, 2010 9:02pm
so guys where are we going? back up ur claims with a chart or fundy
I had already posted this chart but as you can see the bounce has been substantial.
http://img408.imageshack.us/img408/7...usdsept29m.gif
"In economics, the majority is always wrong." John Kenneth Galbraith
- #299,269
- Sep 30, 2010 9:07pm Sep 30, 2010 9:07pm
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #299,270
- Sep 30, 2010 9:07pm Sep 30, 2010 9:07pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
weaksht asian pa is not worth my time. usually get the best of what they're givin in the first hour anyway. I am expecting a pretty slow Friday - might blow it off altogether. Good luck dudes.
Sometimes you really say some sensible stuff
I probably won't do much myself but remember, first Friday in October - #299,271
- Sep 30, 2010 9:13pm Sep 30, 2010 9:13pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
Well said and that is what I am still trying to figure out... what is my way?
I look to trade daily taking trades that last from 1-2 hrs up to 1 day depending on PA. I trade some news and have been studying some sclaping systems / methods but as of yet am not confident enough to actually trade that way.
Ok I'll try to help because I love psychology..
When it comes to money what lever are you:
1. If your father needed heart surgery you wouldn't pay for it, rather save it for a rainy day...
2. I save as much as I can from my income?
3. I save some but like to spend some every month
4. I don't save but think about what I buy, dont waste
5. I do whatever I like when I feel like it
6. I rarely have money in the end of the month
7. money?
Gambling need
1. I laugh about people who gamble
2. I put some money on stuff when there is a sure bet
3. I bet with money I can loose, and with good money management
4. I just love to gamble
5. I have a problem
which one are you?
- #299,272
- Sep 30, 2010 9:17pm Sep 30, 2010 9:17pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Ok I'll try to help because I love psychology..
When it comes to money what lever are you:
1. If your father needed heart surgery you wouldn't pay for it, rather save it for a rainy day...
2. I save as much as I can from my income?
3. I save some but like to spend some every month
4. I don't save but think about what I buy, dont waste
5. I do whatever I like when I feel like it
6. I rarely have money in the end of the month
7. money?
Gambling need
1. I laugh about people who gamble
2. I put some money on stuff when there is a sure bet
3....
Today's zone = Tomorrow's opportunity!
- #299,273
- Sep 30, 2010 9:25pm Sep 30, 2010 9:25pm
1 & 3 respectively
Ok I'll try to help because I love psychology..
When it comes to money what lever are you:
1. If your father needed heart surgery you wouldn't pay for it, rather save it for a rainy day...
2. I save as much as I can from my income?
3. I save some but like to spend some every month
4. I don't save but think about what I buy, dont waste
5. I do whatever I like when I feel like it
6. I rarely have money in the end of the month
7. money?
Gambling need
1. I laugh about people who gamble
2. I put some money on...
- #299,275
- Sep 30, 2010 9:34pm Sep 30, 2010 9:34pm
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Today's zone = Tomorrow's opportunity!
- #299,279
- Sep 30, 2010 10:02pm Sep 30, 2010 10:02pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
Trading is something I am learning right now but would love to do full time someday. For now I work ful time as a project manager for a steel company to pay the bills and live (also went through a divorce a few years ag and thus the lack of excess funds)...
Sorry to hear so,
I wouldn't recommend anyone putting lots of money in FX when they start out, if you use oanda there is no minimum...
playing for free money is a waste of time... No emotions behind the trades...
putting in 100-500 bucks the first time and then add more when you get consistent is a good rule I reckon... So you will remember the mistakes you do...
I live from trading stocks which is a lot simpler... I think it has a lot to say because 10-20% of the movement you see in FX is not from pure trading but country transactions, in stocks you have much more control... volume, company reports etc. but still 2008 will happen again in the future...
God luck on you tour