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EURUSD

  • #535,741
  • Sep 8, 2011 3:24am Sep 8, 2011 3:24am
Quoting Motion
Did you use a SL? If not, it's just better to take your losses and see whatever remains in your account as 100% then start over again. One tip, don't always look at the balance on your account literally, always think of it in percentage. All the best.
Hi,

yeah had a stop, but too high, and was looking to recover, should have lowed the loss and woke up a fresh with minus 30 pips and not the 40 i just closed out at.

Cheers

Dan
  • #535,742
  • Sep 8, 2011 3:29am Sep 8, 2011 3:29am
Quoting Motion
After whoring around from one broker to the other, I had to go back to my first love. GFT-US. Ever tried them???
yes i did gft Australia sick of account sync +/- value on mt4 , no proper explanation from chat team. i have active account with balance 5@ different brokers (eggs in def. basket )
Mohan
  • #535,743
  • Sep 8, 2011 3:29am Sep 8, 2011 3:29am
http://www.forexpros.com/technical/indicators
  • #535,744
  • Sep 8, 2011 3:58am Sep 8, 2011 3:58am
swissy has new high not very high but a new high, might be something to keep in mind!!
If you are new to Forex? Say Goodbye to your account!!
  • #535,745
  • Sep 8, 2011 4:00am Sep 8, 2011 4:00am
I see some strength on Eur Usd,
gotta be careful in this erea ,
RANGE 1.4052 - 1.4089

GL
aligater
born to speculate
  • #535,746
  • Sep 8, 2011 4:02am Sep 8, 2011 4:02am
Quoting KiwiTrada
swissy has new high not very high but a new high, might be something to keep in mind!!
may traders closing short ,

interesting may be SNB targeting higher exchange rate . it's fishy
Mohan
  • #535,747
  • Sep 8, 2011 4:02am Sep 8, 2011 4:02am
Eurusd 30 bi:fxcm
Attached Image
  • #535,748
  • Sep 8, 2011 4:05am Sep 8, 2011 4:05am
Quoting kbmoonshinex
edit::

4098 tp 4065 sl 4108
done.
looking for investors . pm me
  • #535,749
  • Sep 8, 2011 4:11am Sep 8, 2011 4:11am
Quoting dantheman
Hi,

yeah had a stop, but too high, and was looking to recover, should have lowed the loss and woke up a fresh with minus 30 pips and not the 40 i just closed out at.

Cheers

Dan
here's something I use. Don't risk more than 3% of your balance (balance is different from equity) on any single trade. That way, you need to make 33.3(or more using combination and permutation) straight losses to be out of trading capital. If the next support or resistance level where your stop should be placed is greater than 3% of your balance, exercise some patience, you will get a better entry. If it happens to be a runaway trend, leave it to more capitalized traders, let it go. There'll always be another opportunity. It's better to loose an opportunity in the markets than loose your capital.

Quoting mohan76
yes i did gft Australia sick of account sync +/- value on mt4 , no proper explanation from chat team. i have active account with balance 5@ different brokers (eggs in def. basket )
Don't just beat the markets, leave bruises.
  • #535,750
  • Sep 8, 2011 4:14am Sep 8, 2011 4:14am
Quoting mohan76
may traders closing short ,

interesting may be SNB targeting higher exchange rate . it's fishy
it is
  • #535,751
  • Sep 8, 2011 4:14am Sep 8, 2011 4:14am
sell god dam EU now
I have past history of statements to justify what i say.
  • #535,752
  • Sep 8, 2011 4:15am Sep 8, 2011 4:15am
Quoting mohan76
may traders closing short ,

interesting may be SNB targeting higher exchange rate . it's fishy

Yes, but my next resist approx 300 pips!!!! is a dielema, one of many

I have long entry 8566 rr was ok when I enter 16hrs ago, has just dribble along, now covered in cobweb, was going close pre london, glad I not
PB 1/3 BE+29 8595, has breathe room, actually hope it bloody fails, was a simple hedge for short other girls. Reassess pa pre brit news
If you are new to Forex? Say Goodbye to your account!!
  • #535,753
  • Sep 8, 2011 4:20am Sep 8, 2011 4:20am
Quoting Motion
here's something I use. Don't risk more than 3% of your balance (balance is different from equity) on any single trade. That way, you need to make 33.3(or more using combination and permutation) straight losses to be out of trading capital. If the next support or resistance level where your stop should be placed is greater than 3% of your balance, exercise some patience, you will get a better entry. If it happens to be a runaway trend, leave it to more capitalized traders, let it go. There'll always be another opportunity. It's better to loose an...
Thanks for the advice.

its very difficult trading with a tiny balance and with my charts, perseverance, reading this thread and some luck, i had a great day yesterday and just got a bit big for my boots towards London close and gambled without checking what i was doing so.

if i had not made that mistake, or more importantly stopped it straight away it wouldn't have been an issue, in-fact as i would have had another lot to play around with, initially i would have lost about 10 pips, then the other lot before bed i could have closed for +30 ish.....


Thanks again,

Today - need about +50 to break even'ish with a bit of profit maybe, less risk more thinking i think.....

Dan
  • #535,754
  • Sep 8, 2011 4:30am Sep 8, 2011 4:30am
We'll probably range until minimum bid rate. PA is compressing.
  • #535,755
  • Sep 8, 2011 4:32am Sep 8, 2011 4:32am
Quoting fx111
We'll probably range until minimum bid rate. PA is compressing.
Hope so & no trade before it all finish , see you all in the evening then ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #535,756
  • Sep 8, 2011 4:33am Sep 8, 2011 4:33am
Break 1.3980 (strong resistant) will further bearish scenario..
Break 1.4165 bull will take over

=) My 1cent
1M & 5M scalper. 1Malaysia..
  • #535,757
  • Sep 8, 2011 4:34am Sep 8, 2011 4:34am
Quoting dantheman
Morning all

Made a right stupid mistake yesterday late afternoon, selling EUR....

Made 10 successful trades during the day, only have a tiny live account, my broker gives suggested margins and i didnt notice that the suggested margin had gone up after my good trades, so clicked sell to scalp only to see that i had used my whole account.

Was up to 70% loss by bed time, woke up and now down to about 30%

Wondering if to cut my loses, and lose the money from the good trades and start again today.

What do you think, will we see it up over...
Not having actually seen how you use your account, perhpas Im going to be a bit harsh, but...

Its sounds like you have two prolems here:
1. Self discipline - too focussed on money and not trading pips.
2. Account management is terrible

Both combined are nearly guaranteed to wipe your account very quickly.

For 1 - something you are just going to have to learn to control. Being more foucssud on trade gains (pips) rather than money gains will help. Good analysis and planning of trades will also help t grow confidence (so your less nervous over trades in progress).

For 2 that actually pretty easy to sort out. Many folks seems to aim for rediculous levels of proffit - 100% in a week etc... So ask youself - are you going down to bookies to put some bets on, or are you trying to make a regular ongoing income from this? If the former - fine - place your bets and hope for the best, but absolutely expect your account to get wiped out soon!

If the latter - think of it more like running a business - strict budgets, strict risk management and a predictable rate of growth/return etc along with the possibility to never have to work in a normal job again and live where you want etc.

If you still feel he need to be greedy, do a very simple excercise: open up excel or similar, stick your startiong budget in a spread sheet, and work out compound 1%-2% per day growth over a year - its actualy quite a scary amount and may stop you from making overly large trades that your account cant fully support during drawn downs.

Somewhere on this forum is a thread that gives a really good outline of basic account management thats aims to keep you in the game - have a hunt round for it.
  • #535,758
  • Sep 8, 2011 4:41am Sep 8, 2011 4:41am
Quoting KiwiTrada
Yes, but my next resist approx 300 pips!!!! is a dielema, one of many

I have long entry 8566 rr was ok when I enter 16hrs ago, has just dribble along, now covered in cobweb, was going close pre london, glad I not
PB 1/3 BE+29 8595, has breathe room, actually hope it bloody fails, was a simple hedge for short other girls. Reassess pa pre brit news
may be SNB firing Waring shot against safe heaven move (snb way of saying chf is hell) after today fed /Obama announcement, you know where to set, SL good luck
Mohan
  • #535,759
  • Sep 8, 2011 4:47am Sep 8, 2011 4:47am
Quoting dantheman
Thanks for the advice.

its very difficult trading with a tiny balance and with my charts, perseverance, reading this thread and some luck, i had a great day yesterday and just got a bit big for my boots towards London close and gambled without checking what i was doing so.

if i had not made that mistake, or more importantly stopped it straight away it wouldn't have been an issue, in-fact as i would have had another lot to play around with, initially i would have lost about 10 pips, then the other lot before bed i could have closed for +30 ish........
Well all makke mistakes at some time - the market WILL catch you with your pants down at sometimes - thats guraranteed.

Heres what my wife and I did on our accounts in the beginning - start tiny (coiuple of hundred dollars) - double your money by conservative and sustainable trading, then double it again by boosting the account from personal savings (ie pumping more money in as confidence and trading experience grows, but only ever in line with the real returns from trading)

Keep going like that for a while, until the account is big enough to live off it. Ive quit my day job now (was a good IT job) now live off trading and as a music producer (which pays shit, but trading lets me do it now). My wiofe is planning on quitting her IT job as well in about 6 months. Eventually aim is trade from a house on a beach somewhere sunny (bodrum in turkey).
  • #535,760
  • Sep 8, 2011 4:51am Sep 8, 2011 4:51am
Quoting Khazul
Well all makke mistakes at some time - the market WILL catch you with your pants down at sometimes - thats guraranteed.
today i only make mistakes

1. 4 times pressing wrong button (script)
2. 3 wrong entry
3. 2 early exit

not good day for me , good think after all this mistake manage to make net result of +8 pip
Mohan
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