1000 pips s/l per trade??? LOL
I have never heard of such a thing.... my s/l are 15-50 at the most.
- #397,441
- Feb 28, 2011 8:58am Feb 28, 2011 8:58am
- | Membership Revoked | Joined Oct 2010 | 2,745 Posts
- #397,442
- Feb 28, 2011 8:59am Feb 28, 2011 8:59am
Raza,
I never use full leverage.
In any of my trades I can go down 1,000 pips and it won't kill me.
That is probably the reason why I win most of the time.
Money management is the only thing you need in this game.
No not true, patience is the other thing you need.
And just common sense.
Shamu
- #397,443
- Feb 28, 2011 9:00am Feb 28, 2011 9:00am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #397,444
- Feb 28, 2011 9:00am Feb 28, 2011 9:00am
- Joined Jun 2010 | Status: Hello,Mr.Market | 1,806 Posts
short EU @3835 AND stop loss @ 3855 
A chart helps those who can read it.
- #397,445
- Feb 28, 2011 9:00am Feb 28, 2011 9:00am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
I want to tell this to every trader here.
Money management is the only thing you need in this game.
No not true, patience is the other thing you need.
And just common sense.
If you follow these rules, you will succeed and have a job for life.
Shamu
Money management is the only thing you need in this game.
No not true, patience is the other thing you need.
And just common sense.
If you follow these rules, you will succeed and have a job for life.
Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
- #397,446
- Feb 28, 2011 9:01am Feb 28, 2011 9:01am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
scalped - out
- #397,447
- Feb 28, 2011 9:02am Feb 28, 2011 9:02am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
a demo account
The thing in forex is to cut losses, not to make 1000 pips stop loss.
- #397,448
- Feb 28, 2011 9:02am Feb 28, 2011 9:02am
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
I want to tell this to every trader here.
Money management is the only thing you need in this game.
No not true, patience is the other thing you need.
And just common sense.
If you follow these rules, you will succeed and have a job for life.
Shamu
You, have a wild and crazy edge. It doesn't matter though, it works for you. Way to scary for me, that's for sure.
I never accept a loss of more than 10-15 pips... but I am a scalper so it is what it is.
- #397,451
- Feb 28, 2011 9:04am Feb 28, 2011 9:04am
- | Membership Revoked | Joined Oct 2008 | 2,791 Posts
new guys stay away of this PA looks like a wild rift
- #397,452
- Feb 28, 2011 9:06am Feb 28, 2011 9:06am
- | Additional Username | Joined Feb 2011 | 397 Posts
I want to tell this to every trader here.
Money management is the only thing you need in this game.
No not true, patience is the other thing you need.
And just common sense.
If you follow these rules, you will succeed and have a job for life.
Shamu
Besides that, just learn to walk a straight line ... & read the stop signs, speed limits and highways and you will be fine. GPS doesn't work in this world ... it's all about the having a map on hand.
edit - I NEVER use SL's on 4h H/L on Sunday- Tuesday & same for the most part for daily as highs & lows are hardly set at beginning of week.
- #397,453
- Feb 28, 2011 9:07am Feb 28, 2011 9:07am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Raza,
I never use full leverage.
In any of my trades I can go down 1,000 pips and it won't kill me.
That is probably the reason why I win most of the time.
Money management is the only thing you need in this game.
No not true, patience is the other thing you need.
And just common sense.
Shamu
Honestly, in Forex, that's a big move.. [2 weeks in EUR or more].
We are not talking about killing or not.. but what is wrong is Wrong..
but you are the Boss.
- #397,454
- Feb 28, 2011 9:09am Feb 28, 2011 9:09am
- | Additional Username | Joined Feb 2011 | 397 Posts
mate, that only means you are 1000pips on wrong side..
Honestly, in Forex, that's a big move.. [2 weeks in EUR or more].
We are not talking about killing or not.. but what is wrong is Wrong..
but you are the Boss.
- to each their own
- #397,456
- Feb 28, 2011 9:10am Feb 28, 2011 9:10am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
An edge as well. Money management is only going to get you so far if you are winning less than 50% of your trades.
You, have a wild and crazy edge. It doesn't matter though, it works for you. Way to scary for me, that's for sure.
I never accept a loss of more than 10-15 pips... but I am a scalper so it is what it is.
until I found out that my "up pips" were bigger than my "down pips".
I started trading bigger and accept bigger losses also.
At this moment I'm not scared anymore even when I'm 100 pips down. It is just a reason to buy more if I see the future going up.
Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
- #397,458
- Feb 28, 2011 9:11am Feb 28, 2011 9:11am
- | Joined Jul 2009 | Status: yo | 3,577 Posts
still in this. now I have more time to monitor the trade. lets add another one. target 3722.
- #397,459
- Feb 28, 2011 9:13am Feb 28, 2011 9:13am
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
mate, that only means you are 1000pips on wrong side..
Honestly, in Forex, that's a big move.. [2 weeks in EUR or more].
We are not talking about killing or not.. but what is wrong is Wrong..
but you are the Boss.