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  • #642,541
  • May 12, 2012 4:53am May 12, 2012 4:53am
Quoting chamoknet
sO MANY thanks for replay
So what should i do now ? should i close my trade at this loss or hold this trade for LoNG ? Actually i have forgotten to use SL so ....... Please help me
I see you are losing about half of your micro account in this single trade. Hoping that is not big money to you. Im not going to give you a direct answer because I dont have one. I would analyse my charts and define a level for SL after which would accept it a loss even though it hurts. I would probably try to figure out a level, which it would be probable for it to rebounce and to make a decision if I would close it with a bit smaller loss or just letting it run. If it makes a sturdy upmove on monday, I would probably wait and see if it still goes higher, but if it makes a slow and sawing correction upwards, I would close it with a loss and try to close it with a bit smaller loss. By looking at charts, it is much more probable to continue down, but this is forex and anything can happen especially in these times where everything is uncertain.

Another issue is the fact that you risk your entire account balance in a single trade. That is not trading. It is gambling and will definitely lead to a blown account. Consider this a lesson.

What I think you should do now is to stop your trading or go to demoing for atleast three winning months in a row. I think you should also try to find a profitable trading system and read and learn as much as you can about trading including money management, which seems to be the biggest problem to you now. FF is a good source. babypips.com is another. Be prepared to measure your success of trading in years. Not days, weeks or even months.....
  • #642,542
  • May 12, 2012 5:27am May 12, 2012 5:27am
Quoting KillerWhale
I haven't traded EU the whole last week
i have 4 short winning EU trade this week .
Keep Simple...!
  • #642,543
  • May 12, 2012 5:41am May 12, 2012 5:41am
Quoting kotlt
i have 4 short winning EU trade this week .
I mainly traded EurCad
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  • #642,544
  • May 12, 2012 5:59am May 12, 2012 5:59am
Quoting kotlt
i have 4 short winning EU trade this week .
Nice
  • #642,545
  • May 12, 2012 6:23am May 12, 2012 6:23am
Quoting KillerWhale
If you want to make some serious money then you should go exactly opposite of what you hear in "money in motion"

In the short term totally agree. However, weeks ago they predicted that EUR would go to 1.29, then 1.27.
  • #642,546
  • May 12, 2012 6:50am May 12, 2012 6:50am
How to Trade the Greek Crisis Now

http://www.cnbc.com/id/47395092
  • #642,547
  • May 12, 2012 6:58am May 12, 2012 6:58am
The People's Bank of China decided to cut deposit-taking financial institutions RMB deposit reserve ratio by 0.5 percentage points since May 18, 2012. (End)
2012-05-12 19:00:00（GMT+8)

http://www.pbc.gov.cn/publish/gouton...07422629_.html
A chart helps those who can read it.
  • #642,548
  • May 12, 2012 7:18am May 12, 2012 7:18am
Quoting KillerWhale
I mainly traded EurCad
I remember you studied all about CAD last weekend. so how is Eur/Cad going. would it be more profitable than Eur/USD.
deep RoT is essential for everlasting happyness
  • #642,549
  • May 12, 2012 7:25am May 12, 2012 7:25am
Quoting geniusztc
The People's Bank of China decided to cut deposit-taking financial institutions RMB deposit reserve ratio by 0.5 percentage points since May 18, 2012. (End)
2012-05-12 19:00:00（GMT+8)

http://www.pbc.gov.cn/publish/gouton...07422629_.html
I've heard that someone in CHina is causing inflation, by buying meat and spices, SO that pork meat price doubled. Probably to cause higher prices/salaries to hurt exports.
  • #642,550
  • May 12, 2012 8:06am May 12, 2012 8:06am
Quoting forexchequer
In the short term totally agree. However, weeks ago they predicted that EUR would go to 1.29, then 1.27.
October 3th last year, after a very bad day in the S&P they predicted that there was only 1 way go: buy the dollar, go short EU.
The next day we started a run of 1100 pips UP.

They just didn't see that the S&P was right at a critical support level.
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  • #642,551
  • May 12, 2012 8:08am May 12, 2012 8:08am
Quoting KillerWhale
October 3th last year, after a very bad day in the S&P they predicted that there was only 1 way go: buy the dollar, go short EU.
The next day we started a run of 1100 pips UP.

They just didn't see that the S&P was right at a critical support level.
Now if so called "experts" make such big mistakes that's a reason for me to never believe them anymore.

Fortunately I saw the support in the S&P
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  • #642,552
  • May 12, 2012 8:09am May 12, 2012 8:09am
Quoting Whistlepips

What I think you should do now is to stop your trading or go to demoing for atleast three winning months in a row. I think you should also try to find a profitable trading system and read and learn as much as you can about trading including money management, which seems to be the biggest problem to you now. FF is a good source. babypips.com is another. Be prepared to measure your success of trading in years. Not days, weeks or even months.....

Ok i got it . ! I really should practice more to be alive in fx market . Isn't it ?
thanks again for advice !
  • #642,553
  • May 12, 2012 8:12am May 12, 2012 8:12am
Quoting KillerWhale
Now if so called "experts" make such big mistakes that's a reason for me to never believe them anymore.

Fortunately I saw the support in the S&P
And I remember I wanted to go long, but I did nothing because of their bad advice, thinking ............. are they crazy or what.
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  • #642,554
  • May 12, 2012 8:14am May 12, 2012 8:14am
Quoting KillerWhale
And I remember I wanted to go long, but I did nothing because of their bad advice, thinking ............. are they crazy or what.
And all this stuff tells you only ONE THING:

THINK FOR YOURSELF
TAKE RESPONSIBILITY FOR YOUR OWN ACTIONS
SET YOUR SL AT A REASONABLE LEVEL
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  • #642,555
  • May 12, 2012 8:16am May 12, 2012 8:16am
Quoting X.work
I remember you studied all about CAD last weekend. so how is Eur/Cad going. would it be more profitable than Eur/USD.
For me it definitely is at the moment, but of course that differs from person to person.

If you want to know more, just go here:

http://www.forexfactory.com/showthre...=1#post5661079

And learn and try to add ideas if you have them
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  • #642,556
  • May 12, 2012 8:21am May 12, 2012 8:21am
Quoting forexchequer
How to Trade the Greek Crisis Now

http://www.cnbc.com/id/47395092
Never follow these kind of leads

Remember, if JP Morgan Asset Management tells you to go short, that can have 2 reasons:

1. They are honestly thinking that it is true what they tell you
2. The opposite, and they have underwater shorts and want you and the rest of the trading world to help them to get those shorts in profit.
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  • #642,557
  • May 12, 2012 8:30am May 12, 2012 8:30am
Quoting KillerWhale
Never follow these kind of leads

Remember, if JP Morgan Asset Management tells you to go short, that can have 2 reasons:

1. They are honestly thinking that it is true what they tell you
2. The opposite, and they have underwater shorts and want you and the rest of the trading world to help them to get those shorts in profit.
So again>>>>>>>>>>>>>>>

THINK FOR YOURSELF
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  • #642,558
  • May 12, 2012 8:30am May 12, 2012 8:30am
Besides the short term buying we have started to see thurs/friday targeted for 1.3100 level the real move is hidden and should be back to the 1.3300 level the red circle these projections are based off historical values and have an accuracy of above 90%. Everybody will be looking for the gap move up but the real move in the next 30 days from after the 17th will be for 1.3300 This is the real level the banks are playing, Enjoy
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  • #642,559
  • May 12, 2012 8:36am May 12, 2012 8:36am
Quoting KillerWhale
And all this stuff tells you only ONE THING:

THINK FOR YOURSELF
TAKE RESPONSIBILITY FOR YOUR OWN ACTIONS
SET YOUR SL AT A REASONABLE LEVEL
seems to me the right way to monetize the investment ... ... who does not know have to learn! ... but rely on others' ideas to manage your own money ...
I like to lose .. is my motto ..
  • #642,560
  • May 12, 2012 8:37am May 12, 2012 8:37am
Quoting chamoknet
Ok i got it . ! I really should practice more to be alive in fx market . Isn't it ?
thanks again for advice !
Yes you got it. This is not a gold mine for newbies, which I assume you are. Do your homework. Try to find a profitable strategy. Practice it demoing so that it comes your second nature and you know your system like the inside of your pants. It will take some time. And after some consistent winning months go live then.

Forex will not give fast profits. Some say it takes 10000 hours screentime to make it. Some never will. No point losing real money while trying, but if this is what you find a passion, go for it
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