EURUSD

Ok, let me throw some math at you, 100 pips a week with 1% risk will turn 10k into 250k if you use 100:1 leverage in a year, how bout them potatoes......

100 pips a week consistently will make you a better trader then the majority in here and will set you on your way to financial independence.

if this was a long term trader's thread, I'd fully agree... but it isn't, and many just made 260 pips by shorting...

edit: changed "we" for "many", because I didn't catch all of them.

Isn't that high leverage? Isn't 50 or even 40 recommended?

all right Big C. we do have our disagreements but i really have to give this one to you. This statement down there, is one of the most overlooked but extremely important things in trading. It's that switch in your mind that has to be set in the right position.

50:1 is plenty as a beginner, you will need a larger account size though to start of with, just manage your risk correctly and leverage can become a useful tool if used right. To do this right at 50:1 you will need 15k+ to manage your trades correctly, the deposit requirement is all depending on your win ratio and your risk reward, play around with an excel sheet based on your current numbers and see what you need to never ever risk more then 0.5-1% and see what trade size and leverage amount makes it worth your while to start in this business, never ever use leverage to make up for the lack of capital and never ever start trading for real unless the numbers based on your trading history actually make sense to do so. Too many start in this business to make a quick buck, that is just not going to happen except for a very select few.

There are enough of those people in the world. One does not need to be mean and nasty to make money. After all, money isn't everything.

Oh really?

Morning traders
just dropping in too throw my shorts off, happytimes!



U.S. exports rose to a record level in January as foreign buyers snapped up American energy products, industrial goods and autos. But even faster import growth meant that the nation's trade deficit jumped to a seven-month high.
The deficit increased 15% to $46.3 billion, the Commerce Department said Thursday. Imports were bolstered by a revival of consumer spending inside the U.S., while strength in foreign markets--particularly emerging markets such as China--fueled demand for U.S.-made goods.
(This story and related background material will be available on The Wall Street Journal website, WSJ.com.)
Higher prices for oil were partly responsible for the 5.2% jump in imports to $214.1 billion, as consumers and businesses paid more for fuel. But other products also showed gains. Stronger consumer demand pushed imports of autos and food higher, while domestic investment brought in capital goods and industrial supplies.
Exports grew 2.7% during the month to an all-time high of $167.7 billion, yet not all sectors showed strength: Exports of pharmaceuticals and aircraft both fell.
Many economists expect the deficit will be a drag on U.S. growth in the first quarter and possibly throughout the coming year. Higher imports can reduce overall economic growth by subtracting from demand for domestically produced goods and services.
"We expect exports and imports to grow at the same pace, but the problem is that the base of imports is so much bigger than the base of exports," says Troy Davig, an economist at Barclays Capital.
Meanwhile, new claims for unemployment compensation climbed 26,000 last week to 397,000. Claims had dropped for three straight weeks, offering hope that falling layoffs would soon translate into significantly stronger hiring.
The latest jump may have been influenced by difficulty with seasonal adjustments due to holidays in some states.
"The trend, we are sure, is still downwards, as small firms ease the pace of their layoffs now that credit conditions are less terrible," says Ian Shepherdson of High Frequency Economics. "The drop in claims to date will be reflected in substantially better payroll numbers very soon."
The four-week moving average, used to smooth volatility in the data, rose by 3,000 to 392,500. Continuing claims--those drawn for more than a week--fell 20,000 to 3.77 million in the week ended Feb. 26.
-By Sudeep Reddy, The Wall Street Journal; [email protected]
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I know that most of you guys are not trading the same time frames i do but 1.4300 wont take long...then we will be hitting monthly resistance and it will take a few weeks for the next target 1.50. We will then likely trade within a 300-400 pip range for a few weeks. Cheers.

I'm perfectly fine with that. Many pips to you.

The human mind is so conditioned that everything is balanced in life and nature that it is really hard to switch to a trader's mentatlilty where you want to see things continue and not reverse and balance out.

Most "newer" traders either consciously or subconsiously always think that it must come back now, there is no way it can continue any longer. That's why most newer traders hold on to bad trades a lot longer then winning trades and will keep on countertrading an obvious trend. How many times do we get post here, I am shorting this, it is really overbought. We usually get the biggest moves when a currency or stock is overbought, that is the time to actually load her up.

"newer" traders are their own worst enemies. Look at the thread today, loads more post to justify it reversing then people actually just following the trend.

A trader needs to be as dumb as a box of rocks and never question a trend, just follow the darn thing till she runs out of steam.

Ah well, enough of being on my soapbox, telly time.

Thanks and same to you my friend.

Please keep throwing the nuggets in here - many are happy to catch them!

Gross: Why Pimco Dumped Treasurys From Biggest Fund

http://www.cnbc.com/id/42013272

like that

Hehe, that was a good prediction mate
But I think you could have squeezed out 0.8 more pips

Pivot would be nice for a reload. But with no POMO tomorrow, SA, etc.....dunno.

damn..to the pip

jeeze typical, been calling for 377x all bloody day, then it goes and does it while I'm away from my work station...

maybe a second bite of the cherry later...

get u a god dog bro