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  • #367,741
  • Jan 19, 2011 1:39am Jan 19, 2011 1:39am
Quoting cloggie
You need to do yourself a favor and read up on risk management. You really shouldn't risk more then 1% of your account when you are first starting out. Set your SL accordingly, if you feel the need for a SL that large then reduce your position size accordingly. Capital preservation is key in becoming succesful in this business, you need to be able to trade another day. Forex is not a get quick rich scheme.

Prepare yourself an excel sheet with appropriate position sizes for the SL's you intend on using.

When I enter a trade, I know how much...
Good post, would do well to take note.
Trade the price action, not the cash!!!
  • #367,742
  • Jan 19, 2011 1:40am Jan 19, 2011 1:40am
Quoting cloggie
H4 and daily are also still bearish
I hope finally you find market is bullish or bearish and who is professional
  • #367,743
  • Jan 19, 2011 1:41am Jan 19, 2011 1:41am
Quoting realjumper
We've all been there man!!

Look at it this way: If you can take just 25 pips per day, every day....that amounts to about 6,500 pips in 12 months. You may not be able to live off that right now, but how much healthier would your account be with 6,500 pips locked in.....and......how much would your 2% SL be worth now??

Like I say, take your time.....look after the cents (or pennies), and the dollars (or pounds) will look after themselves!
I;m a small investor now but I basically trade stocks. I'm not looking for 200% return in a short time. A stable 15-20% would be really good. If I'm lucky, I'll get out of this short position. I guess it's all about luck now. I can minimize the risk exposure but if I do that, I believe the stop loss is going to be hit anyway. With higher SL I have greater chance for survival.
  • #367,744
  • Jan 19, 2011 1:42am Jan 19, 2011 1:42am
Quoting MRmojtaba
the discussion is about today trend .bullish or bearish ?

For asian session if it stay above 3350 and break 3430 it will extremely hit 3500 but if it break 3350 it will fall
Besides my position touch the target 3500 , +70 pip
  • #367,745
  • Jan 19, 2011 1:43am Jan 19, 2011 1:43am
Quoting fr600
I;m a small investor now but I basically trade stocks. I'm not looking for 200% return in a short time. A stable 15-20% would be really good. If I'm lucky, I'll get out of this short position. I guess it's all about luck now. I can minimize the risk exposure but if I do that, I believe the stop loss is going to be hit anyway. With higher SL I have greater chance for survival.

IF you decide to use a higher SL you need to reduce your position size accordingly. You cannot pick a SL because you want to use a survival tactic, you choose the SL at a point where your chosen direction on your chosen timeframe would be proven wrong and you would entertain an entry in the opposite direction. Alternatively use a SL at which point you are no longer willing to spend money to be proven right. Both of these will determine your position size depending on your risk appetite.

Trading is not about making money, it is solely about being consistent, money will follow automatically.
  • #367,746
  • Jan 19, 2011 1:45am Jan 19, 2011 1:45am
Quoting PayTheLimit
long 3463, sl 3440, tp 3493..
tp 3483 now...
Look Sharp/Trade Tight
  • #367,747
  • Jan 19, 2011 1:47am Jan 19, 2011 1:47am
Quoting PayTheLimit
long 3463, sl 3440, tp 3493..
seems to be working out
Hero calls followed by margin calls...
  • #367,748
  • Jan 19, 2011 1:47am Jan 19, 2011 1:47am
Quoting cloggie
IF you decide to use a higher SL you need to reduce your position size accordingly. You cannot pick a SL because you want to use a survival tactic, you choose the SL at a point where your chosen direction on your chosen timeframe would be proven wrong and you would entertain an entry in the opposite direction.
So true. I must start taking notes for you guys.
  • #367,749
  • Jan 19, 2011 1:50am Jan 19, 2011 1:50am
Quoting Hda
1.3500 pay out 250million
1.3475 pay out 150million (New Option Just added)
1.3300 pay out 200million
Thankyou , was going to ask about these my news feed mentions 3500 and the talk of stops 3520 and a barrier at 3550 .

A week ago when we broke the low i was bearish but the strong push up through the range reminds me of the break of the highs to 4280 and the resulting strong push through the previous range down giving us 2 no 800 pip bear legs, and a final push to 2850 .
Poor bear I only see 3 legs awww.

So currently the same pattern is forming to the bull side a strong break of 3500 would confirm.
making green pips large and red pips small this is my goal.
  • #367,750
  • Jan 19, 2011 1:51am Jan 19, 2011 1:51am
Quoting PayTheLimit
long 3463, sl 3440, tp 3493..
sl 3450, tp 3483...
Look Sharp/Trade Tight
  • #367,751
  • Jan 19, 2011 1:52am Jan 19, 2011 1:52am
Quoting PhAnTi'
seems to be working out
lol..you mean lucky...
Look Sharp/Trade Tight
  • #367,752
  • Jan 19, 2011 1:53am Jan 19, 2011 1:53am
Quoting realjumper
We've all been there man!!

Look at it this way: If you can take just 25 pips per day, every day....that amounts to about 6,500 pips in 12 months. You may not be able to live off that right now, but how much healthier would your account be with 6,500 pips locked in.....and......how much would your 2% SL be worth now??

Like I say, take your time.....look after the cents (or pennies), and the dollars (or pounds) will look after themselves!
yup !
  • #367,753
  • Jan 19, 2011 1:53am Jan 19, 2011 1:53am
Quoting fr600
So true. I must start taking notes for you guys.

Right now we have a reversal pattern in the making, so we should get a bit closer to your entry. Cable is leading the way today.
  • #367,754
  • Jan 19, 2011 1:55am Jan 19, 2011 1:55am
Quoting PayTheLimit
sl 3450, tp 3483...
out...-13...
Look Sharp/Trade Tight
  • #367,755
  • Jan 19, 2011 1:56am Jan 19, 2011 1:56am
lol check out cable.
Hero calls followed by margin calls...
  • #367,756
  • Jan 19, 2011 1:57am Jan 19, 2011 1:57am
Quoting paul1
Thankyou , was going to ask about these my news feed mentions 3500 and the talk of stops 3520 and a barrier at 3550 .

A week ago when we broke the low i was bearish but the strong push up through the range reminds me of the break of the highs to 4280 and the resulting strong push through the previous range down giving us 2 no 800 pip bear legs, and a final push to 2850 .
Poor bear I only see 3 legs awww.

So currently the same pattern is forming to the bull side a strong break of 3500 would confirm.
Paul1: Its always a pleasure to chat with you. Hmmmmm well, Im loving the bearish optimism and the bullish optimism in the forum - Lets see how it pans out. I am a bear ofcourse.

As PTL would say - Look sharp/ Trade Tight
  • #367,757
  • Jan 19, 2011 2:03am Jan 19, 2011 2:03am
Quoting Ma Baker



















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Put your hands in the air , Give me all your money ! !
  • #367,758
  • Jan 19, 2011 2:04am Jan 19, 2011 2:04am
Quoting Hda
Paul1: Its always a pleasure to chat with you. Hmmmmm well, Im loving the bearish optimism and the bullish optimism in the forum - Lets see how it pans out. I am a bear ofcourse.

As PTL would say - Look sharp/ Trade Tight
In a previous post I posted the fundies and the strong technical push up and possible continuation as to why I currently have short term bull bias .

You say your a bear ,is that longer term view or intraday view ,if its intraday could you please discuss the reasons thankyou .
making green pips large and red pips small this is my goal.
  • #367,759
  • Jan 19, 2011 2:05am Jan 19, 2011 2:05am
this box sucks

Attached Image (click to enlarge)
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Hero calls followed by margin calls...
  • #367,760
  • Jan 19, 2011 2:06am Jan 19, 2011 2:06am
Weekly short ZUP zigzag call for big reversal.
1.3500 + might be done.
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