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  • #341
  • Feb 10, 2011 6:05am Feb 10, 2011 6:05am
Quoting Ifee
Hi Petar,Did you survive yesterday's EUR USD trade?
I am asking because Alpari Demo (UK) showed 1.3744!
Thanks for all your help
NO i posted yesterday,that was -100..

After 7 days cable closed +180,now i will add results for last week +210 pips


Cheers

Petar
Attached Image (click to enlarge)
Click to Enlarge Name: +180.gif Size: 29 KB
"Buy on fear, sell on greed !!!
  • #342
  • Feb 10, 2011 6:08am Feb 10, 2011 6:08am
Quoting Petar_Serbia
NO i posted yesterday,that was -100..

After 7 days cable closed +180,now i will add results for last week +210 pips


Cheers

Petar
congratz

keep it up
Raza
  • #343
  • Feb 10, 2011 6:22am Feb 10, 2011 6:22am
Quoting Petar_Serbia
NO i posted yesterday,that was -100..

After 7 days cable closed +180,now i will add results for last week +210 pips


Cheers

Petar
Thanks Petar for your reply.I missed that and thought it was about earlier Eur Jpy trade.
Congratulations on your cable trades.
You are very right, patiance pays
I am learning gradually from you
  • #344
  • Feb 10, 2011 6:30am Feb 10, 2011 6:30am
Great Job!
It took long, but got parked in the right pocket! Happy green pips!

Petar, do you have an opinion on the EURUSD? It seems that it is going straight to break the 1,36 (as the previous setup up)
Do you thing the setup is still valid?

Cheers.
  • #345
  • Feb 10, 2011 7:55am Feb 10, 2011 7:55am
Petar-

I'm not sure where your next TP on GU is (been away)
But 1.5943 is 38% for wave 4 AND fits in Channel- just thought I'd share.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu feb10_2.gif Size: 38 KB
  • #346
  • Feb 10, 2011 7:57am Feb 10, 2011 7:57am
Currently I'm learning to trade using similar technique with Petar. The difference is the he uses volume and I don't, because my trading platform doesn't have it.

I too using channel to trade but combine it with stochastic. I was a bit lucky to short eur/usd at the right moment, right at the turn of stochastic at oversold. Right now it seems like it still have a room to go down even further. I think my original TP was the same with Petar but just now I moved my TP to 1.5330 ish. Finger crossed!

I don't mean to hijack your thread Petar, as I believe your method is proven to be successful and I'm yet to see if mine will be reliable or not.

Happy pip'in everybody!
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  • #347
  • Feb 10, 2011 9:10am Feb 10, 2011 9:10am
Quoting Dedas
Great Job!
It took long, but got parked in the right pocket! Happy green pips!

Petar, do you have an opinion on the EURUSD? It seems that it is going straight to break the 1,36 (as the previous setup up)
Do you thing the setup is still valid?

Cheers.
Hello Dedas,

Setup on EURUSD isnt valid becouse chanel didnt hold

Cheers

Petar
"Buy on fear, sell on greed !!!
  • #348
  • Feb 10, 2011 9:11am Feb 10, 2011 9:11am
Quoting Jefftrader
Petar-

I'm not sure where your next TP on GU is (been away)
But 1.5943 is 38% for wave 4 AND fits in Channel- just thought I'd share.
Hello Jeffy,

As i posted First Target 1.5950 Second is 1.5920

Cheers and green pips


Petar
"Buy on fear, sell on greed !!!
  • #349
  • Feb 10, 2011 11:40am Feb 10, 2011 11:40am
Hello guys,

After 2 Ses finished i decided to open last setup for this week.Now i opened USDCAD Buy at 0.9960 SL 0.9900 TP 1.0040


Cheers and green pips


Petar
Attached Image (click to enlarge)
Click to Enlarge Name: cad.gif Size: 22 KB
"Buy on fear, sell on greed !!!
  • #350
  • Feb 10, 2011 12:05pm Feb 10, 2011 12:05pm
Hi Petar,

I'm back from vacation and see you still doing well!!

Well Done !!!

Congrats and continue to share us your strategy.

I'm still learning from your charts

Mfinab
  • #351
  • Feb 10, 2011 2:23pm Feb 10, 2011 2:23pm
Petar,

I hope one day I'll be able to post something here, surprising you with a gold mine and helping everybody to take green pips!

New trade, new coin!

The money management part is the thing I still have to grasp. You mentioned 2% per lot, but to avoid commissions on my platform I would need some 50k€ at least... How dangerous do you consider 15% per lot?

I trust the guide lines, so far to me they are the best, so i'm not worried in the long term!

Cheers
(maybe that explains why I get so nervous sometimes)
  • #352
  • Feb 10, 2011 9:56pm Feb 10, 2011 9:56pm
15% is much too high to risk. I have tried risking between 6 - 8 % on some trades in the past and it caused me to lose almost half of my account which I am still trying to make back after almost a year. If you risk 15% per trade and lose 3 in a row which is likely to happen sooner or later you will lose almost half your account. It sounds like you are trading standard lots if you would need $50,000 to keep it at 2% risk. You need to ask your broker to change your account so you are able to trade mini lots or micro lots. If you can't do this then you need an account with a different broker.
  • #353
  • Feb 10, 2011 10:23pm Feb 10, 2011 10:23pm
Hi all,

If I may add about MM, by 2% it means you are willing to risk/loose 2% of your actual balance.
For example: a 10K account, 2% of 10K is 200$.
Now let's say the trade has a 100 pips SL, then you can risk .2 lot or 2 mini-lots and for that mather 20 micro lots.
Translating into a 200$ loss in all 3 scenarios, on a 10,000$ balance it equals 2%.

Hope this helps.

Pip it up !

BigMike
  • #354
  • Feb 10, 2011 11:38pm Feb 10, 2011 11:38pm
Hi Darien 95 and Big Mike,
Excellent input and advice on money management.
  • #355
  • Feb 11, 2011 3:49am Feb 11, 2011 3:49am
Morning all!

Cable is down in the green after a 1,6130 scare yesterday. I like them green!
@jak12310, Hope you are enjoying the EURUSD! Breaking the 1,35, great momentum?
@Big Mike, darien95, Thanks guys for saying I’m doing it all wrong!

I agree MM @ 2% should be the proper risk/reward ratio and excellent to prevent us from killing the account balance. And it will be my target over time while I’m getting knowledge (this was the first time I read it, in the little 6 months I’m trading Fx.)

So far I've manage to survive although I’m way more successful in commodities (which I’m trading for 3 years now and without leverage).
Basically, the total balance of the account is money that came as profit from stocks and warrants trading, which in my mind is “mad money” not the real money I get from my salary but just a 4 digits number in the account)

Seed money was 5k, high 7k and low 2.8k, currently just over 6k. I have a 50:1 leverage and all lots are 1k.
So when Petar says 1lot I buy 1k, if he says 2 lots I buy 1k… 3 positions is 50% of the account.

I have to confess that very often I switch SL to breakeven preventing me lose even in a small winning trade. I would be better of doing exactly what Petar does… but it’s a learning process, one day I’ll get there (probably when it’s a 2% stake).
Also I tend to double the lot after news and big moves happen, just to win extra 20, 30 pips, If I can baby sit the position.

Cheers
  • #356
  • Feb 11, 2011 4:32am Feb 11, 2011 4:32am
Quoting Dedas
Morning all!

Cable is down in the green after a 1,6130 scare yesterday. I like them green!
@jak12310, Hope you are enjoying the EURUSD! Breaking the 1,35, great momentum?
@Big Mike, darien95, Thanks guys for saying I’m doing it all wrong!

I agree MM @ 2% should be the proper risk/reward ratio and excellent to prevent us from killing the account balance. And it will be my target over time while I’m getting knowledge (this was the first time I read it, in the little 6 months I’m trading Fx.)

So far I've manage...
MOrning guys,
Look as i said i risk 2 % of balance per positions,everything about that is much for me,but just my style of MM
"Buy on fear, sell on greed !!!
  • #357
  • Feb 11, 2011 5:06am Feb 11, 2011 5:06am
Quoting Petar_Serbia
MOrning guys,
Look as i said i risk 2 % of balance per positions,everything about that is much for me,but just my style of MM
Petar,
I have full confidence in your setups! My problem is if you stop posting the trades and I'll be slaughtered by the market!

I also think you have contacts with the Forex Webmaster (the guy in backoffice of all this Interbank scheme) and you just ask him to pull the strings our way and that's why it always works! (the Ses is just to make look real!)

As I said, I fully agree with the 2% rule, and I'll be happy to use it when 1k lot represents 2%!!!

Cable 1,5970... 20 for target! Come to papa!
Cheers
  • #358
  • Feb 11, 2011 6:08am Feb 11, 2011 6:08am
@Dedas: it was a nice trade. I banked in 170 pips on short eur/usd. I moved my TP as I found out that was the target using fib expansion 1.3540. As it turned out bugger keep going down to my original TP lol


@Petar: what do you think about AUD/USD 4h channel? good for long? My concern is that its hovering between 1.000 and .9950 although the trend is still up. Do you take into account those horizontal supports & resistances?

cheers!
  • #359
  • Feb 11, 2011 6:39am Feb 11, 2011 6:39am
Quoting Dedas
Petar,
I have full confidence in your setups! My problem is if you stop posting the trades and I'll be slaughtered by the market!

I also think you have contacts with the Forex Webmaster (the guy in backoffice of all this Interbank scheme) and you just ask him to pull the strings our way and that's why it always works! (the Ses is just to make look real!)

As I said, I fully agree with the 2% rule, and I'll be happy to use it when 1k lot represents 2%!!!

Cable 1,5970... 20 for target! Come to papa!
Cheers
Heh Dedas Funny post...
As i said patiance and everything is ok
"Buy on fear, sell on greed !!!
  • #360
  • Feb 11, 2011 6:45am Feb 11, 2011 6:45am
Quoting jak12310
@Dedas: it was a nice trade. I banked in 170 pips on short eur/usd. I moved my TP as I found out that was the target using fib expansion 1.3540. As it turned out bugger keep going down to my original TP lol


@Petar: what do you think about AUD/USD 4h channel? good for long? My concern is that its hovering between 1.000 and .9950 although the trend is still up. Do you take into account those horizontal supports & resistances?

cheers!
Hello Jak,

Look i dont watch now chats for setup becouse i finished with setups for this week and slo now is Friday and we have 7 h and market will close..Its risky to take setups..

Cheers

Petar
"Buy on fear, sell on greed !!!
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