DislikedAnalda3 -
Very many thanks! You've saved me a lot of cutting and pasting! (and, I guess, a number of other people too)
GeorgeHIgnored
Hi All,
First of all, i would like to say what a great thread this is. Lucky to have bumped to this thread and learn a lot from you guys.
Im a newbie to FF and Forex as a whole. Just opened my demo account with Oanda last month. Still finding the best strategy and methods to suit my lifestyle and personality.
I got a few questions to you guys and sorry if it's quite a list
1) What methods you guys use to secure your pips? Trailing stops or close your trade once you have reached your personal gain and reopen the trade again to secure further pips till the EMAs crossed again for another trend changing trade?
2) Since this method we are going to use quite a huge stop loss, how many currency normally you guys trade and will you still use the same money management method of risking only 2-3% of your account to open your position accordingly?
3) Your stop loss will be determine on which time frame? 4H or the Daily TF? Im aware that Brenzaj42 is using daily to enter and weekly to see the trend but my broker only has 3H and Daily.
Thanks all and truly appreciate on what you guys have done so far. Wishing all a great trade ahead and hope one day we will achieve our dreams of financial freedom in getting our money work harder for us this time rather than work hard for the money
PS: Brenzaj42, understand how you feel and respect your decision but we hope you can open a personal blog for us to read your plans and strategies. Hope to hear from you soon.
First of all, i would like to say what a great thread this is. Lucky to have bumped to this thread and learn a lot from you guys.
Im a newbie to FF and Forex as a whole. Just opened my demo account with Oanda last month. Still finding the best strategy and methods to suit my lifestyle and personality.
I got a few questions to you guys and sorry if it's quite a list
1) What methods you guys use to secure your pips? Trailing stops or close your trade once you have reached your personal gain and reopen the trade again to secure further pips till the EMAs crossed again for another trend changing trade?
2) Since this method we are going to use quite a huge stop loss, how many currency normally you guys trade and will you still use the same money management method of risking only 2-3% of your account to open your position accordingly?
3) Your stop loss will be determine on which time frame? 4H or the Daily TF? Im aware that Brenzaj42 is using daily to enter and weekly to see the trend but my broker only has 3H and Daily.
Thanks all and truly appreciate on what you guys have done so far. Wishing all a great trade ahead and hope one day we will achieve our dreams of financial freedom in getting our money work harder for us this time rather than work hard for the money
PS: Brenzaj42, understand how you feel and respect your decision but we hope you can open a personal blog for us to read your plans and strategies. Hope to hear from you soon.
- #196
- Feb 2, 2011 9:13am Feb 2, 2011 9:13am
Agree, and i would like to add to check for P & I analysis at the time you are planing to enter the trade. You would like for AUD to be strong accross the board, USD to be weak across the board and if both of those conditions are true even better.
JLC
Always Learning
What a fantastic thread - just read it this evening having been looking for something I figure I could trade!
I have added 30 pairs weekly charts onto my MT4 in my enthusiasm, await to see which ones my broker supports but I think oanda does pretty much anything and everything....just about to look through them to see where some dailies might come into play....
The one thing I find hard to believe is the 100pip SL. I've considered trading Day before and once used a 400pip SL, same risk level just less £/pip ! I guess it's the finely tuned entry system that will count here. Would have been interesting to know % of trades that Brenjaz get's stopped out and if so if he then reenters on a suitable daily again.
Finally, could someone diirect me to a post / thread that will define the actions required to perform a good P and I analysis. I have a good idea, but would be good to follow an established system for doing so...
Thanks !
Doug
I have added 30 pairs weekly charts onto my MT4 in my enthusiasm, await to see which ones my broker supports but I think oanda does pretty much anything and everything....just about to look through them to see where some dailies might come into play....
The one thing I find hard to believe is the 100pip SL. I've considered trading Day before and once used a 400pip SL, same risk level just less £/pip ! I guess it's the finely tuned entry system that will count here. Would have been interesting to know % of trades that Brenjaz get's stopped out and if so if he then reenters on a suitable daily again.
Finally, could someone diirect me to a post / thread that will define the actions required to perform a good P and I analysis. I have a good idea, but would be good to follow an established system for doing so...
Thanks !
Doug
- #199
- Feb 3, 2011 7:06am Feb 3, 2011 7:06am
Hello!
I'm waiting to enter in the AUD/USD in the next hours. P/I seems to be okay, what do you think? Would you enter until it goes over the resistance/high from 1.0147???
------------------------
I'm curious about your opinion of USD-CAD setup? If you think that it's a valid entry, what is the best point to enter the trade?
Greetings
Yes i would make it prove it had momentum USDCAD
Yes but I would wait until it clear support at .9835 before i would consider it rather than risk a bounce. looking at both myself and they seem to be good setups. Another thing i am waiting for is NFP to pass before i enter
Always Learning
- #200
- Feb 3, 2011 7:15am Feb 3, 2011 7:15am
What a fantastic thread - just read it this evening having been looking for something I figure I could trade!
I have added 30 pairs weekly charts onto my MT4 in my enthusiasm, await to see which ones my broker supports but I think oanda does pretty much anything and everything....just about to look through them to see where some dailies might come into play....
The one thing I find hard to believe is the 100pip SL....
Regards
JLC