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  • #610,981
  • Mar 16, 2012 12:03pm Mar 16, 2012 12:03pm
Quoting micho
i dont close and re-open unless the plan has been done... like my target is hit or its time to reverse otherwise keep them as they are... of course dont tell me i have a 10 lot position at 1.30 and my account is 2000 what should i do... lol... you have to play according to your account size small positions
My ratio is now at 1:10 if I open further, might not be able to absorb any sudden large increase in price.

Looks like really need lots and lots of cash in the account... No wonder the rich gets richer...
  • #610,982
  • Mar 16, 2012 12:03pm Mar 16, 2012 12:03pm
Quoting micho
nothing special just stick to the plan and wait for the plan to finish
yeah thats what I am asking, what ur next plan? if u care to share?
There is no substitute of hard work and experience. $ € £ ¥
  • #610,983
  • Mar 16, 2012 12:04pm Mar 16, 2012 12:04pm
Quoting micho
well -2000 pip is something huge... it all depends which trend you are trading... if you are trading a 1000 pip trend, you can have a large drawdown/loss/win so it's up to you to manage the trends you play... and always play the small trends in the direction of the big trends on higher time frames... if you keep an eye on divergence you will limit the damage otherwise one wrong entry and your account will blow
check that chart again 2000 pip in one day over 3200 pip in 3 days
Mohan
  • #610,984
  • Mar 16, 2012 12:06pm Mar 16, 2012 12:06pm
Quoting pipnaija
417 pips and 30 minutes to close all trades.
can u pls share ur charts? I want to know how u bank million pips every day.
There is no substitute of hard work and experience. $ € £ ¥
  • #610,985
  • Mar 16, 2012 12:06pm Mar 16, 2012 12:06pm
Quoting micho
i dont close and re-open unless the plan has been done... like my target is hit or its time to reverse otherwise keep them as they are... of course dont tell me i have a 10 lot position at 1.30 and my account is 2000 what should i do... lol... you have to play according to your account size small positions
I used to trade like that...until I got 5 margin calls in a row and blow my 3rd account. Now, I place a trade and if I am wrong, I get the hell out as fast as I can. And if I am right, well then I am right. The problem was I like to use a lot of leverage so having much tighter stops (as opposed to no stops) lets me increase my position size.
  • #610,986
  • Mar 16, 2012 12:10pm Mar 16, 2012 12:10pm
Quoting mohan76
check that chart again 2000 pip in one day over 3200 pip in 3 days
To be fair, it was during an exceptionally rare moment in history (once every 40 years). And after the 2000 pip move, it did go right back the next day. Not to mention it was with the trend. None the less, you make a good point. Sh** can happen at any time so you need to be well prepared.
  • #610,987
  • Mar 16, 2012 12:11pm Mar 16, 2012 12:11pm
Quoting Kowalczyk
Good point, but that is not how the market works. If someone with a large account places a trade, you get the hell out of the way. To your point. You buy or sell with a tight stop. 50/50 chance it will break or bounce. If it breaks, you have a small loss. If it bounces, you have a much bigger profit. But again, the situation you describe rarely happens. If there is a clearly visible trend line, a lot of people will see it, trade it, and thus changing the odds from 50/50 to something else (like 75/25 or 80/20, depending on how much buyers...
I really disagree man about that it rarely happens, i have been trading for a long while now and most of the time the price will move against EVERYTHING and fools like bloomberg or cnn money would try to justify the movement with any bs that is there, why going too far : one of the main "rules" on the FX market is that if a country has a strong economy and a strong stock market it's currency has to appreciate ,, for the last year or though when the US stock market would rise the USD would dive down !! and the Euro would go up .. what dose that tell ya ? and tons of other examples that we all know .. it tells me that there is no rules and ANYTHING could happen ,, and so i just play based on that fact
  • #610,988
  • Mar 16, 2012 12:11pm Mar 16, 2012 12:11pm
Quoting Anti_Losses
My ratio is now at 1:10 if I open further, might not be able to absorb any sudden large increase in price.

Looks like really need lots and lots of cash in the account... No wonder the rich gets richer...
no i am not talking about needing a big account or wait/pray for the market to come to you... i am talking about knowing what you are doing and having a system that will save your ass when the prices push against you
When life gives you lemons, make lemonade
  • #610,989
  • Mar 16, 2012 12:12pm Mar 16, 2012 12:12pm
Quoting pip.com
yeah thats what I am asking, what ur next plan? if u care to share?
well the plan is still the same... its a long story and i dont want to go through how i trade... everybody has their ways right
When life gives you lemons, make lemonade
  • #610,990
  • Mar 16, 2012 12:13pm Mar 16, 2012 12:13pm
Quoting pip.com
can u pls share ur charts? I want to know how u bank million pips every day.
i think he said 417/10 pips,kaka or he trade 10 lots
Think Different
  • #610,991
  • Mar 16, 2012 12:13pm Mar 16, 2012 12:13pm
Quoting Kowalczyk
I used to trade like that...until I got 5 margin calls in a row and blow my 3rd account. Now, I place a trade and if I am wrong, I get the hell out as fast as I can. And if I am right, well then I am right. The problem was I like to use a lot of leverage so having much tighter stops (as opposed to no stops) lets me increase my position size.
well... its not possible to get a margin call if you have a good plan. at maximum you will get out and reverse...
When life gives you lemons, make lemonade
  • #610,992
  • Mar 16, 2012 12:14pm Mar 16, 2012 12:14pm
  •  orzels
  • | Joined Nov 2011 | Status: Buy at resistance, Sell at support™ | 309 Posts
Quoting pip.com
can u pls share ur charts? I want to know how u bank million pips every day.
I'm afraid there is no charts..
  • #610,993
  • Mar 16, 2012 12:14pm Mar 16, 2012 12:14pm
Quoting mohan76
check that chart again 2000 pip in one day over 3200 pip in 3 days
which chart?
When life gives you lemons, make lemonade
  • #610,994
  • Mar 16, 2012 12:15pm Mar 16, 2012 12:15pm
Quoting Kowalczyk
To be fair, it was during an exceptionally rare moment in history (once every 40 years). And after the 2000 pip move, it did go right back the next day. Not to mention it was with the trend. None the less, sh** can happen at any time so you need to be well prepared.
i made research after i blow my account i found lot of 600+ move this was extreme move i have save it, we have to prepare for disaster move like this. it can wipe out account .
Mohan
  • #610,995
  • Mar 16, 2012 12:16pm Mar 16, 2012 12:16pm
Quoting mohan76
i made research after i blow my account i found lot of 600+ move this was extreme move i have save it, we have to prepare for disaster move like this. it can wipe out account .
please post this chart...
When life gives you lemons, make lemonade
  • #610,996
  • Mar 16, 2012 12:16pm Mar 16, 2012 12:16pm
Quoting micho
which chart?
http://www.forexfactory.com/showthre...47#post5484847
Mohan
  • #610,997
  • Mar 16, 2012 12:18pm Mar 16, 2012 12:18pm
Quoting mohan76
http://www.forexfactory.com/showthre...372&page=40733
sorry i dont see the symbol, which chart is that? and which date?
When life gives you lemons, make lemonade
  • #610,998
  • Mar 16, 2012 12:18pm Mar 16, 2012 12:18pm
Quoting micho
well... its not possible to get a margin call if you have a good plan. at maximum you will get out and reverse...
I am not talking about your plan. I used to use full margin with no stops. That is why I did so poorly before. Anyways, you obviously have a good system that works for you so good luck.
  • #610,999
  • Mar 16, 2012 12:18pm Mar 16, 2012 12:18pm
Quoting Kowalczyk
I am not talking about your plan. I used to use full margin with no stops. That is why I did so poorly before. Anyways, you obviously have a good system that works for you so good luck.
ok thanks, you too
When life gives you lemons, make lemonade
  • #611,000
  • Mar 16, 2012 12:19pm Mar 16, 2012 12:19pm
Quoting mohan76
i made research after i blow my account i found lot of 600+ move this was extreme move i have save it, we have to prepare for disaster move like this. it can wipe out account .
I couldn't agree more.
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