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  • #587,001
  • Jan 23, 2012 12:21am Jan 23, 2012 12:21am
If your stops are too tight, they will be taken out.

Adjust to your tolerance or prepare to watch your account blow up.

Don't accept advice from others as gospel in this game.

Other traders look for stops that are too close(within 1 to 2% of a bottom)

If I dont take you out, someone else will. LoL!

That is the game.

As for not reading books and learning more.

Then prepare to spend your time and money re-inventing the wheel.

  • #587,002
  • Jan 23, 2012 12:26am Jan 23, 2012 12:26am
Quoting todstars2
Other traders look for stops that are too close(within 1 to 2% of a bottom)
:

if 1 or 2 % SL is too close mean account is over leveraging my friend , it's your money your call. most trader here don't recommend more than 2%, 1% is good for leaning
Mohan
  • #587,003
  • Jan 23, 2012 12:29am Jan 23, 2012 12:29am
bored, the liquidity is soooo f**king low...where all the Asian traders, what are they doing???
  • #587,004
  • Jan 23, 2012 12:30am Jan 23, 2012 12:30am
Quoting izzas
bored, the liquidity is soooo f**king low...where all the Asian traders, what are they doing???
Partying, China is closed.
  • #587,005
  • Jan 23, 2012 12:31am Jan 23, 2012 12:31am
Quoting izzas
bored, the liquidity is soooo f**king low...where all the Asian traders, what are they doing???
Partying it up !
  • #587,006
  • Jan 23, 2012 12:32am Jan 23, 2012 12:32am
Quoting izzas
bored, the liquidity is soooo f**king low...where all the Asian traders, what are they doing???

Chinese New Year
  • #587,007
  • Jan 23, 2012 12:33am Jan 23, 2012 12:33am
Quoting mohan76
if 1 or 2 % SL is too close mean you are over leveraging my friend , it's your money your call. most trader here don't recommend more than 2%, 1% is good for leaning

I appreciate the advice.

I will say it depends on the game you are playing.

I pick a bottom and buy on the way down, letting my stops get taken out until I find it, then ride it up for the long move. Days, weeks, months.

If I hit my loss limit of 10%, I move on to a different market and look for profits elsewhere.

Like I said in an earlier post, it is a game of probabilities.

Take your losses quick, and let your profits ride.


This is extremely over simplified but most will get the gist.
  • #587,008
  • Jan 23, 2012 12:43am Jan 23, 2012 12:43am
Quoting mohan76
if 1 or 2 % SL is too close mean account is over leveraging my friend , it's your money your call. most trader here don't recommend more than 2%, 1% is good for leaning

I buy when everyone else is in panic heading for the doors.

Sell when everyone else is ecstatic.

It is a contrarion point of view, I know.


Doesn't work for everyone.
  • #587,009
  • Jan 23, 2012 12:49am Jan 23, 2012 12:49am
1st. TP hit..
  • #587,010
  • Jan 23, 2012 12:50am Jan 23, 2012 12:50am
morning everyone,

just read the last couple of pages, so glad to see everyone getting along and helping each other out


As for this distracting thing called the EURUSD...

No real change from Friday for me, the daily trend is still officially down but could be on the turn having made a higher high and an upper TL break, we need to see a higher low and/or 1.3076 to give out for some confirmation. Otherwise the bear may still be lurking.

At the moment on the H1 chart I still have a valid wave 5 of 5 count with a taraget zone 1.3010-1.3050.

Long from 88.
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  • #587,011
  • Jan 23, 2012 12:50am Jan 23, 2012 12:50am
Quoting todstars2
I buy when everyone else is in panic heading for the doors.

Sell when everyone else is ecstatic.

It is a contrarion point of view, I know.


Doesn't work for everyone.
looks you did not get my point ,

what i was try say
1 lot 2 % = 10 pips s/l if you feel 10 is too short , make it
0.1 lot which will give 100 pip s/l for 2%

i am not questioning your trading method as i am not familiar with it,
Mohan
  • #587,012
  • Jan 23, 2012 12:50am Jan 23, 2012 12:50am
Quoting izzas
bored, the liquidity is soooo f**king low...where all the Asian traders, what are they doing???
It's Chinese New Year....!!! Hey...I already done my part earlier I managed to open and close 3 position...see...am trading...lol...just that some Asian traders are relaxing...hehehe.(sorry about that...lol)
  • #587,013
  • Jan 23, 2012 12:58am Jan 23, 2012 12:58am
Quoting MaxDoom
morning everyone,

just read the last couple of pages, so glad to see everyone getting along and helping each other out


As for this distracting thing called the EURUSD...

No real change from Friday for me, the daily trend is still officially down but could be on the turn having made a higher high and an upper TL break, we need to see a higher low and/or 1.3076 to give out for some confirmation. Otherwise the bear may still be lurking.

At the moment on the H1 chart I still have a valid wave 5 of 5 count with a taraget zone 1.3010-1.3050....
same with me....long eur/usd TP 1.3045......huhhuhh
  • #587,014
  • Jan 23, 2012 12:59am Jan 23, 2012 12:59am
Quoting mohan76
looks you did not get my point ,

what i was try say
1 lot 2 % = 10 pips s/l if you feel 10 is too short , make it
0.1 lot which will give 100 pip s/l for 2%

i am not questioning your trading method as i am not familiar with it,
its cool.

I traded for a long time on a shoestring and relative to some players still do.

With proper position size management, I agree, it is easier to put your stop far out of reach without risking excessive amounts of captial.

It comes down to what your risk tolerance is basically.
  • #587,015
  • Jan 23, 2012 12:59am Jan 23, 2012 12:59am
Resistances/Supports.................. but no comments.
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The Thief of Wall Street
  • #587,016
  • Jan 23, 2012 1:02am Jan 23, 2012 1:02am
franky (DAX) giving bearish signal it might test s1 now
Mohan
  • #587,017
  • Jan 23, 2012 1:05am Jan 23, 2012 1:05am
Quoting screwup
1st. TP hit..

touching my 2nd. tp ...
  • #587,018
  • Jan 23, 2012 1:06am Jan 23, 2012 1:06am
Good night all.

See ya in the US session

Happy Trading!
  • #587,019
  • Jan 23, 2012 1:16am Jan 23, 2012 1:16am
Buy EUR/USD
Price 1.2877
Take profit at 1.2918
Stop loss at 1.2848
From 06:32 23-ene-2012 GMT Till 10:32 23-ene-2012 GMT
  • #587,020
  • Jan 23, 2012 1:20am Jan 23, 2012 1:20am
Quoting todstars2

Emotions can kill your game...

.
Well said. I am learning.
Better get rich slowly rather than going broke fast.
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