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EURUSD

  • #464,981
  • Jun 17, 2011 4:31am Jun 17, 2011 4:31am
Quoting cloggie
8k is not a bad amount to start trading with, will you make a living with an account that size living in the UK wanting to make 100 quid a day from the get go, no.

Einstein called compounding the 8th wonder of the world. You need to give yourself a trackrecord of a year to see what you can get out of the market on average and put that in a spreadsheet to see if it will make you a living over time.

The problem is that having 8k and expecting to take out 100 quid a day will not let you build your capital and your compounded return.

Why don't...
best advice ever.... keep ur day job and keep ur money in ur account.. set a goal of 50 pips per week... it does not sound like much but if you do not touch the money the compounding intrest will amaze you... as you build the account and raise ur lot size the 50 pip goal will really start to produce
  • #464,982
  • Jun 17, 2011 4:31am Jun 17, 2011 4:31am
Quoting slovforex
Yeah, I still do not understand who is buying eur and why
I am...

Because it is going up.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #464,983
  • Jun 17, 2011 4:32am Jun 17, 2011 4:32am
Quoting jeremyyn
I mean, why would you let your winning trade turn to a losing trade.
cause u r a dumb ?
Hero calls followed by margin calls...
  • #464,984
  • Jun 17, 2011 4:32am Jun 17, 2011 4:32am
Quoting Magix
I am...

Because it is going up.

looooooool
  • #464,985
  • Jun 17, 2011 4:34am Jun 17, 2011 4:34am
Quoting T.E.Lawrence
Ok, here's my daily chart:

Attachment

Check the yesterday candle - possible reversal to the upside?
The daily bar changed its colour to green and we've moved above that red trendline, so maybe this scenario is in progress.
  • #464,986
  • Jun 17, 2011 4:34am Jun 17, 2011 4:34am
Quoting PayTheLimit
cloggs, what do you have next, I have 63ish
50 may do it, but 63 I have too


but am not cloggs
  • #464,987
  • Jun 17, 2011 4:35am Jun 17, 2011 4:35am
Quoting tonegawa
looooooool
why do you laugh out out out out out out out out loud? u r short? : p
Hero calls followed by margin calls...
  • #464,988
  • Jun 17, 2011 4:35am Jun 17, 2011 4:35am
Quoting Magix
I am...

Because it is going up.

Hope ur not b greedy because i have sell somewhere up
  • #464,989
  • Jun 17, 2011 4:35am Jun 17, 2011 4:35am
Quoting fxjawn
best advice ever.... keep ur day job and keep ur money in ur account.. set a goal of 50 pips per week... it does not sound like much but if you do not touch the money the compounding intrest will amaze you... as you build the account and raise ur lot size the 50 pip goal will really start to produce

50 pips a week is still gambling as the chance of it not being reached are inversely proportional to your weekly goal. To make a living at this comfortably and have buffers in your trading plan to absorb bad weeks, 200-300 pips a week should me the minimum to make a living out of this business, that gives you the safety buffer to absorb crap days and weeks, you will have them.

Trading for a living is all about consistency and a sufficient statistical edge to outperform other instruments over time without having to increase your risk to a point that the statistical edge will not be sufficient to remain consistent.

FX is not the easiest instrument to make a living of, there are easier ones, however if you know how to trade the returns will be mind boggling.

I have said it plenty of times here, I use other instruments to safeguard my capital and provide the basic means of survival for me, FX is the icing on the cake and allows me to get the toys I want.
  • #464,990
  • Jun 17, 2011 4:36am Jun 17, 2011 4:36am
Quoting egkid
Very good work bro ur point exactly very good
4212 Tested before so might break easy this time
Time running let's watch where this 1h close
b ready
I hope level is reached soon.
  • #464,991
  • Jun 17, 2011 4:36am Jun 17, 2011 4:36am
Quoting sisse
Yeap and in a very strange time of the day so no M30 or H1 or H4 close traders there, time to pay attention during the next hour as 1.421x needs to provide support without double thoughts to propel the rejection H4 to 1.430x. Sidelines here but decision time now for today...

sisse
I took my first longs as chance at yesterdays TK close...

Been watching how well they have been supporting this area and continued to buy...

After no new lows and a second attempt @ cracking M5, figured a little more topside was in order...

I was triggering off the 1m charts, but all the same, current direction to topside, large area for Chino to fill back, might well follow the dough....
Attached Image (click to enlarge)
Click to Enlarge Name: tkc.jpg Size: 70 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #464,992
  • Jun 17, 2011 4:37am Jun 17, 2011 4:37am
Quoting infinitus
50 may do it, but 63 I have too


but am not cloggs
no, but you are the Iman...
Look Sharp/Trade Tight
  • #464,993
  • Jun 17, 2011 4:38am Jun 17, 2011 4:38am
let see if we stand on 4220 this h...

then i have 63 in mind too...
sell limits there aswell
Patience, Emotion Control and Discipline.
  • #464,994
  • Jun 17, 2011 4:38am Jun 17, 2011 4:38am
Quoting PhAnTi'
why do you laugh out out out out out out out out loud? u r short? : p
the comment was sarcastic. The question was why big players are buying euros, not us traders
  • #464,995
  • Jun 17, 2011 4:39am Jun 17, 2011 4:39am
Quoting Magix
I took my first longs as chance at yesterdays TK close...

Been watching how well they have been supporting this area and continued to buy...

After no new lows and a second attempt @ cracking M5, figured a little more topside was in order...

I was triggering off the 1m charts, but all the same, current direction to topside, large area for Chino to fill back, might well follow the dough....

Double bottom on a failed fib retrace with a higher high and a definite protection of support does help.
  • #464,996
  • Jun 17, 2011 4:39am Jun 17, 2011 4:39am
Watch out folks! Forexlive says China is selling around here!
  • #464,997
  • Jun 17, 2011 4:39am Jun 17, 2011 4:39am
Quoting cloggie
50 pips a week is still gambling as the chance of it not being reached are inversely proportional to your weekly goal. To make a living at this comfortably and have buffers in your trading plan to absorb bad weeks, 200-300 pips a week should me the minimum to make a living out of this business, that gives you the safety buffer to absorb crap days and weeks, you will have them.

Trading for a living is all about consistency and a sufficient statistical edge to outperform other instruments over time without having to increase your risk to a point...
thats my goal man obviously i still have a day job but trading for a living is the goal that will be accomplished
  • #464,998
  • Jun 17, 2011 4:40am Jun 17, 2011 4:40am
Quoting T.E.Lawrence
Watch out folks! Forexlive says China is selling around here!
hope u r kidding...otherwise stfu with fxlive
Hero calls followed by margin calls...
  • #464,999
  • Jun 17, 2011 4:40am Jun 17, 2011 4:40am
Quoting cloggie
FX is not the easiest instrument to make a living of, there are easier ones,
Such as? Stocks?
  • #465,000
  • Jun 17, 2011 4:40am Jun 17, 2011 4:40am
Quoting T.E.Lawrence
Watch out folks! Forexlive says China is selling around here!

Weren't they buying a few days back according to some muppet here and we dropped 300 pips?


Hmmmm.
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