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Scalping 20+ trades per day

  • #1,021
  • Apr 25, 2012 8:53am Apr 25, 2012 8:53am
Quoting mtc235
What do I need to learn in order to resolve this kind of risk?
Money Management. And I mean it. This is the key.

You are right. You may lose 1000 pips at once. Even more when you decide to pull the plug. The question you must ask yourself is: when do I pull the plug?

And this, my friend, is a very personal answer.
If you're not part of the solution then you're part of the problem.
  • #1,022
  • Apr 25, 2012 9:58am Apr 25, 2012 9:58am
Quoting majorusa
Money Management. And I mean it. This is the key.

You are right. You may lose 1000 pips at once. Even more when you decide to pull the plug. The question you must ask yourself is: when do I pull the plug?

And this, my friend, is a very personal answer.
Yes, it's called Money Management. And since it is the key, is it possible for you offer a bit of advice about it, based on your experience? Did you go through a lot of trial and error, and what did you learn from that? Or did you just calculate it on paper and stick to what you figured you're willing to risk?

Thank you,
MTC
  • #1,023
  • Apr 25, 2012 11:07am Apr 25, 2012 11:07am
out eu 76 + 13 pips, two addins
total + 26 pips on the trade

square.
If you're not part of the solution then you're part of the problem.
  • #1,024
  • Apr 25, 2012 12:43pm Apr 25, 2012 12:43pm
Quoting mtc235
Did you go through a lot of trial and error, and what did you learn from that? Or did you just calculate it on paper and stick to what you figured you're willing to risk?
This is a topic for next week in the room.
If you're not part of the solution then you're part of the problem.
  • #1,025
  • Apr 27, 2012 3:08am Apr 27, 2012 3:08am
Hi trading room members. Here, 1st of May is National holiday and April 30 is also non working. I will stay with my family so no trading. But on May 2-nd I will be in the room.

As promised in the previous post I will address the Money Management issues. I am looking forward to seeing you in the room on Wednesday. Have a nice week-end!

This week result only +50 pips.

This month's result + 569 pips but I traded only one and a half weeks.
If you're not part of the solution then you're part of the problem.
  • #1,026
  • Apr 28, 2012 3:25am Apr 28, 2012 3:25am
HI Majorusa, Good luck with your trading room. I would like to join if theres any spaces later on in the year when I will be trading full time again.

Its not rocket science to work out a money management formula for this style of trading. Once you start looking at risking X amount of your account on a series of trades/mutliple buys in, it does become apparent you need quite a large sized account but Majorusa has repeated this throughout the thread. How can people expect to become Professional Traders if they cant even put the effort in to read the whole thread and take a few notes. I think people need to devise there own money management rules for this style of trading so it suits there personality/account size/current financial situation. Just my $0.02 worth. Be lucky.



Quoting majorusa
Hi trading room members. Here, 1st of May is National holiday and April 30 is also non working. I will stay with my family so no trading. But on May 2-nd I will be in the room.

As promised in the previous post I will address the Money Management issues. I am looking forward to seeing you in the room on Wednesday. Have a nice week-end!

This week result only +50 pips.

This month's result + 569 pips but I traded only one and a half weeks.
  • #1,027
  • May 2, 2012 3:03am May 2, 2012 3:03am
Hi. To all the Trading Room members.

Today is the last day of the room. My life got very complicated lately, and I cannot sustain the room presence anymore. The last two months were a very good test for me, and the conclusion is clear. For the time being, I cannot have a clear schedule, and this is hurting both my trading and the possibility to bring positive impact to the room members' trading and knowledge.

But I am a man of my words. I promised to have a small lecture on Money Management today, and this will happen at 13.00 London Time. I am looking forward to having you in the room for the last session.

Concerning the journal, I will keep posting trades here when I trade. It will remain a place where you can ask questions, and I will answer when the time will allow me.

I truly hope that for the people that traded with me what I explained in the room did make sense and was helpful.

Sometimes, the best-laid plans are overturned by some fortunate and random events. I can assure you that what I am talking about is not trading related, but it takes me very often from my trading routine.

I am waiting for you in the room in about two hours.
If you're not part of the solution then you're part of the problem.
  • #1,028
  • May 2, 2012 4:16am May 2, 2012 4:16am
I am waiting you in the room in 45 minutes for the Money Management insights.
If you're not part of the solution then you're part of the problem.
  • #1,029
  • May 2, 2012 4:51am May 2, 2012 4:51am
The Money Management Q&A session will start in 10 minutes in the trading room.
If you're not part of the solution then you're part of the problem.
  • #1,030
  • May 2, 2012 5:59am May 2, 2012 5:59am
Quoting majorusa
The Money Management Q&A session will start in 10 minutes in the trading room.

Thank you for the talk! Catch you on FF next week.
  • #1,031
  • May 2, 2012 9:08pm May 2, 2012 9:08pm
Would it possible for someone who was listening at the meeting to outline the money management highlights?

Thanks majorusa for the thread, really enjoying it and hoping you have the time to keep it up.
  • #1,032
  • May 3, 2012 2:47am May 3, 2012 2:47am
Quoting waltini1
Would it possible for someone who was listening at the meeting to outline the money management highlights?

Thanks majorusa for the thread, really enjoying it and hoping you have the time to keep it up.
Ditto :-)
  • #1,033
  • May 9, 2012 1:01pm May 9, 2012 1:01pm
Quoting 4Xfactor
Ditto :-)
I find it very strange that this has come to a halt, and that no one can provide a summary of the MM session???
  • #1,034
  • May 9, 2012 3:06pm May 9, 2012 3:06pm
It did not come to a halt. I will be back next week in this thread. As for the MM session... I was in the room. All the registered users were not with one exception. So the MM session was a one to one session.
If you're not part of the solution then you're part of the problem.
  • #1,035
  • May 9, 2012 5:12pm May 9, 2012 5:12pm
I can assure you major USA that the world does not revolve around you and your trading.
Please don't be offended by this, and thanks for your postings, but I never found anything on this thread that was useful to me from a trading standpoint.

Good luck to you and please take care of family and friends, they are of utmost importance.

HH
  • #1,036
  • May 10, 2012 2:18am May 10, 2012 2:18am
Quoting majorusa
It did not come to a halt. I will be back next week in this thread. As for the MM session... I was in the room. All the registered users were not with one exception. So the MM session was a one to one session.
MajorUSA,

Ok, thanks.

Regards,
  • #1,037
  • May 11, 2012 4:30am May 11, 2012 4:30am
Quoting hharrington
I can assure you major USA that the world does not revolve around you and your trading.
Please don't be offended by this, and thanks for your postings, but I never found anything on this thread that was useful to me from a trading standpoint.

Good luck to you and please take care of family and friends, they are of utmost importance.

HH
Well, I know that the world does not revolve around me. To the rest I will not answer. Thank you for the wishes.
If you're not part of the solution then you're part of the problem.
  • #1,038
  • May 11, 2012 10:50am May 11, 2012 10:50am
Quoting majorusa
Hi. To all the Trading Room members.

Today is the last day of the room. My life got very complicated lately, and I cannot sustain the room presence anymore. The last two months were a very good test for me, and the conclusion is clear. For the time being, I cannot have a clear schedule, and this is hurting both my trading and the possibility to bring positive impact to the room members' trading and knowledge.

But I am a man of my words. I promised to have a small lecture on Money Management today, and this will happen at 13.00 London Time....
Hi majorusa
I did not attend the last lecture because I had a family business to sort out. I have learned a lot during the time I have attended the trading room. I hope soon you will have time to do what you do best, trading.
Many thanks Yonas
  • #1,039
  • May 12, 2012 1:08am May 12, 2012 1:08am
Hi majorusa,

I hope you have the time to keep posting, as I am sure there are many people like myself who rarely post but appreciate those who have a lot to offer and who make the effort, like yourself.

I was always told if you have nothing nice to say don't say anything. Constructive criticism sure but the post below is nothing but a rubbish post and should be ignored.


Quoting hharrington
I can assure you major USA that the world does not revolve around you and your trading.
Please don't be offended by this, and thanks for your postings, but I never found anything on this thread that was useful to me from a trading standpoint.

Good luck to you and please take care of family and friends, they are of utmost importance.

HH
  • #1,040
  • May 19, 2012 11:16am May 19, 2012 11:16am
Quoting majorusa
Hi. To all the Trading Room members.

Today is the last day of the room. My life got very complicated lately, and I cannot sustain the room presence anymore. The last two months were a very good test for me, and the conclusion is clear. For the time being, I cannot have a clear schedule, and this is hurting both my trading and the possibility to bring positive impact to the room members' trading and knowledge.

But I am a man of my words. I promised to have a small lecture on Money Management today, and this will happen at 13.00 London Time. I...

was watching this thread from time to time...and i came to this question for myself: 'when this guy will give up' ? or 'what's his intentions' ?

First question was based on this: if he is so profitable then why he need to to this shitty traderoom? why to complicate his life so much to teach others? ..and that was in regards for the guy who taught him from 'that' trade room...from where he took his knowledge...Same thing happened with that guy also, he gived up learning noobs..

And second question...thought he will transform into a paid traderoom coz 'who cant trade -teach' (not saying that he cant trade- it's more a metaphore)

Anyway..majorusa...best to you and to your family...i bet that your knowledge will lead you into succes without spending so much time outside trading pit.

regards
DNTme
fokyou forexfactory
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