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  • #351,601
  • Dec 24, 2010 5:48am Dec 24, 2010 5:48am
Quoting PipChick
How long have you been trading?
Try a bigger font and maybe some heavy color so that its easier to see.
  • #351,602
  • Dec 24, 2010 5:48am Dec 24, 2010 5:48am
Quoting snatch
.. the price always comes back to your entry sometime...
something I'll make a note of....
Look Sharp/Trade Tight
  • #351,603
  • Dec 24, 2010 5:49am Dec 24, 2010 5:49am
i am still very new to forex but i have learned in about the 3 weeks i am trading that holding positions especially against the trend can cost you in one trade what you make in 50 short succesful trades.

once i had that one bad trade i just gave myself a lower daily goal and a daily limit of gains and am a lot more patient.

i would very much like the euro to go up again, have interests not only in forex but day to day, but unfortunatly the sentiment and events right now stand against it. and if you put in trend in there euro should go down.
  • #351,604
  • Dec 24, 2010 5:49am Dec 24, 2010 5:49am
Quoting PipChick
Well that is true, but MOST of the time a noob would tell everyone to keep adding positions and dont use a stop loss so that is why I was wondering. I am not saying that Snatch isnt good or that she is a noob, I am saying NOOBS..please do not attempt the no stop loss and keep adding strategy or you will hear the ol margin call buzzer. LOL
True, point taken.
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  • #351,605
  • Dec 24, 2010 5:50am Dec 24, 2010 5:50am
Quoting Vladimir1987
Try a bigger font and maybe some heavy color so that its easier to see.
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  • #351,606
  • Dec 24, 2010 5:51am Dec 24, 2010 5:51am
Quoting Vladimir1987
Try a bigger font and maybe some heavy color so that its easier to see.
I dont think she wants to answer that question so I will leave it alone. Its also very easy to keep adding with no Sl when you trade a demo.
  • #351,607
  • Dec 24, 2010 5:53am Dec 24, 2010 5:53am
Its a must for the sl, at least a hard stop.

Im using a hard 33 tick sl but it rarely gets hit cause i cut losses quickly maybe a bit too quickly...

Im trying to find levels that are hit and not revisited on the 5 min chart- breakouts or s/d areas if they get disrespected i close immediately.

The 33sl is just in case if a spike occures..
  • #351,608
  • Dec 24, 2010 5:54am Dec 24, 2010 5:54am
Have always held that no SL = bust.
Enter Signature
  • #351,609
  • Dec 24, 2010 5:58am Dec 24, 2010 5:58am
Quoting vosterfxandy
Have always held that no SL = bust.
Guys listen, I am really not trying to get on anyone here. I hate it when that happens. But please noobs, learn from MY mistakes, It is not good to follow the NO SL, KEEP adding strategy. It took me a long time and many missed hours of sleep not to mention neglect of my family, etc to recoup my losses and even stay in this mkt after that happened to me. I hope I can save others from experiencing that.
  • #351,610
  • Dec 24, 2010 5:58am Dec 24, 2010 5:58am
needs 2 more posts for 1.500
Hero calls followed by margin calls...
  • #351,611
  • Dec 24, 2010 5:59am Dec 24, 2010 5:59am
time to go and enjoy the sunshine

it is a beautiful today today!

merry christmas to all
  • #351,612
  • Dec 24, 2010 5:59am Dec 24, 2010 5:59am
Quoting PhAnTi'
needs 2 more posts for 1.500
im finally off now... see ya 1/3/2010 !
Hero calls followed by margin calls...
  • #351,613
  • Dec 24, 2010 6:01am Dec 24, 2010 6:01am
Quoting PipChick
Guys listen, I am really not trying to get on anyone here. I hate it when that happens. But please noobs, learn from MY mistakes, It is not good to follow the NO SL, KEEP adding strategy. It took me a long time and many missed hours of sleep not to mention neglect of my family, etc to recoup my losses and even stay in this mkt after that happened to me. I hope I can save others from experiencing that.

i am learning, any tips you want to share would love to hear it!
  • #351,614
  • Dec 24, 2010 6:01am Dec 24, 2010 6:01am
Quoting PipChick
Guys listen, I am really not trying to get on anyone here. I hate it when that happens. But please noobs, learn from MY mistakes, It is not good to follow the NO SL, KEEP adding strategy. It took me a long time and many missed hours of sleep not to mention neglect of my family, etc to recoup my losses and even stay in this mkt after that happened to me. I hope I can save others from experiencing that.
Dude, I actually agree wih you.
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  • #351,615
  • Dec 24, 2010 6:01am Dec 24, 2010 6:01am
Quoting alexxi
time to go and enjoy the sunshine

it is a beautiful today today!

merry christmas to all
i hate you....

didnt have sunshine last few weeks

check out current weather in germany :
Attached Image (click to enlarge)
Click to Enlarge Name: 165221_179674682051053_100000255665654_569107_7818683_n.jpg Size: 65 KB
Hero calls followed by margin calls...
  • #351,616
  • Dec 24, 2010 6:03am Dec 24, 2010 6:03am
Quoting PhAnTi'
im finally off now... see ya 1/3/2010 !
noooooooooooooooooooooooooooooooooooooooo...............
Enter Signature
  • #351,617
  • Dec 24, 2010 6:03am Dec 24, 2010 6:03am
Quoting PhAnTi'
i hate you....

didnt have sunshine last few weeks

check out current weather in germany :
Attachment
wow, that actually looks nice.
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  • #351,618
  • Dec 24, 2010 6:04am Dec 24, 2010 6:04am
Am I the only guy who wants to know your Tricks of Trade ? I see no one else asked but I sure would like to learn !

Any handy hints ? Thanks in advance !

Quoting iflyjetzzz
I had a twentyfold profit in the markets in one year. Paid 1/3 of that in taxes. Gave the other 2/3s back over the course of another 12 months. I still have cap loss writeoffs. On the bright side, my cap gains are written off against my losses so what I make is 'tax free'.
I've got a riverboat gambler personality which is why I don't use much leverage in FOREX. Leverage kills eventually. 100% of the time. I've learned to scale down my trading style so my high risk personality is kept in check.

You've got a lot of talent; just make sure that you're...
  • #351,619
  • Dec 24, 2010 6:05am Dec 24, 2010 6:05am
Quoting PipChick
I dont think she wants to answer that question so I will leave it alone. Its also very easy to keep adding with no Sl when you trade a demo.

all i can say is look out for me on fortune magazine! i gave up a good scientific career to do this... its not about how long, its about how much skill and clarity you have... i tried the SL/harmonic waves/all the colourful indicators/ and they are all shite, thats why most loose.... you are trying to "indicate" fundamentals which are an accumulation of human bias and emotions;

my goal is i dont care whether euro goes to 2.978 or 0987 (my wish)... my goal is to make money and manage it in a way that I will never need a boss...

each to its own... good luck
  • #351,620
  • Dec 24, 2010 6:05am Dec 24, 2010 6:05am
Quoting PipChick
How long have you been trading?
I know this isn't aimed at me, but I've been trading different asset classes for 30 years. I only started trading FOREX in the last couple of years.

There are a lot of lessons that are only learned through actual trading experience. That's why I firmly believe in knowing your personality before choosing a trading style.

I don't use stop losses because I've seen one too many retraces. Because of that, I have a mental stop loss in place at the beginning of a trade and always try to verify the reason for the move against me before I hit the 'close position' button. There are a lot of temporary moves in currencies that will trip your SL. A little bit of patience turns many unprofitable positions into profitable ones.
And then there's the margin call thingy. I haven't had one of those for a decade. If you ever get a margin call, you're using way too much leverage and need to trade 1/3 (or less) the size that you're trading. Max leverage I ever use in FOREX is ~15:1 ... keep in mind that I close my positions when I turn off my laptop so I don't hold long term positions.
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