Two Tube Trading

#2052

2 hours 4 minutes later.

Actual:
Profit: +29.26$
(+3.8%, Basis: 750.90)

EURUSD, M5, 2012 June 07

Scalping with the Pivotals & Fibs and the CCI Indicator.

Trade Example

#2059

..."could"...express a kind of a probability, ...absolutely no certainness. Nobody knows where the price will go in the forex market. Due to this fact I like to express market events in probability patterns. In this way I've rephrase my general market impression based on my "corpus rationale" of all my experience, ...maybe also as far as the eye could reach. I would also express doubts: "It could become difficult"! I don't like traders at my thread who twist sb.'s words.
FXcube

#2048

GBPAUD, H1, 2012 June 08

Actual: 1.5672

Set SL @ 1.5603 (DPV)

EURUSD, M15, 2012 June 08

Long @ 1.2546, Target @ 1.2593 (mR1)

EURUSD, H1, 2012 June 07

Long @ 1.2531 (DPV), Target @ 1.2605

EURUSD, M15, 2012 June 08

I trade this sometimes after a M15 Hammer if M30, H1, (H4) seems also okay.
4 x 1/10 and Exit at different Fibs & Pivotals.

Thank you, Cube for your fabulous postings. Slowly, now I start understanding your trading strategy. I know you have almost a 100% winning history. However, can you share any of your failed trades (if you have any?) and the reason why and when it failed? Thanks.

LCrudeJul12, H1, 2012 June 08

Long @ 82.26, Target @ 85.90 (DR1)

Hi Heispark!

May I sugest you read and study this thread? > TASAYC
Although it looks long once you read its fundamental principals, you'll understand a lot!!!

Best regards,
Hatzerim

Tough Lessons on Money Management in Forex Trading

Beginner Forex traders often blame the market or unpredictable events for why they have come up with a loss. However, put an experienced trader in the exact same situation and dealing with the exact same currency pair, and the trader is likely to come up with a profit. The difference is that the experience Forex trader knows how to manage money. Unfortunately, money management habits are something which most Forex traders neglect.

The reason that money management is so important with Forex trading is because a small loss requires a larger gain in order to recoup. For example, if you lose 25% of your equity, you would need to gain 33% of your equity just to recoup the loss. If you lose 50% of your equity, then you would need to gain 100% of your equity just to recoup the loss! By the time you have lost 75% of your equity, you would need a 400% return in order to recoup your losses. Despite the reality of this situation, it is common for traders to ignore money management techniques and lose their entire Forex profits in a few bad trades.

The key to money management in Forex trading is going for the small, low-risk profits. But most novice traders (who will never have the chance to become experts!) are not trading in this way. Instead, they are hoping for that “Big One” in which they make a cool million off of a single Forex trade. It is easy to see how the beginner Forex traders get this idea in their head, especially when tales of traders like George Soros are filling their heads. While it is possible to make massive gains from a single, risky trade, it is much more likely that you are going to deplete your Forex account.

To avoid destroying your entire Forex account in just a few trades, you should never invest a large amount of your account in a single trade. Experts like Larry Hite recommend never putting more than 1% of your total account in one trade, though there are others who recommend as low as 0.5% up to 5%. At the same time, a Forex trader must have an exit plan for both losses and for gains. The psychology of forcing yourself to sell a currency which is still going up can be painful – especially after you see the price going up steadily after you sell. But, if you don’t sell, the currency is bound to come tumbling down and you would miss out on all the profits. Forex trading is a risk, no matter how smart you are about the markets. Only by using smart money management skills can you turn Forex trading from a risky gamble into a sensible investment.

What to Look for in a Forex Broker

It is easy to find a Forex broker, but choosing which one to use is not so easy, especially because the choice you make can significantly affect your success in Forex trading. Here is what you should look for in a Forex broker.

http://forextradingideasblog.com/

#2068

Think about it #2071 & read the LOM-Concept. See also #2080, please. Every trader has to work out his own Loss Order Management and has to make his own Loss Order Analysis and consider the merits and demerits of sth. for his own benefits. The LOM Concept is the answer after several years of trading how I like to trade the Forex Market to claim the victory. It is not that simple like the Art of Controversy - Arthur Schopenhauer's Eristic Dialectics: "The Art of Being Right".
FXcube

Have you had a 100% correct?
my favorite pair is the eurjpy, and I only focus on him.
but ... 100% I can not draw!
're the best!

http://i47.tinypic.com/2wpqhb6.jpg

regards!

P.D: someday be like you xDD

#2068

Yes indeed, show me this guy who should be 100% absolutely correct, if so then you could ask him if he would lend you his Crystal Ball.
If you have read "LOM" you couldn't write this nonsense!. Mad thing!
FXcube

EURUSD, M5, 2012 June 08

Short @ 1.2471

EURUSD, M5, 2012 June 08

PO Short @ 1.2481 (DS1)
(see chart #2075)

Dynamic Hedging (#2076, #2075 , #2078).
See the open Long Orders from this night (#2065, #2066).

EURUSD, M5, 2012 June 08

Short @ 1.2465

EURUSD, M1, 2012 June 08

...and executed some Scalping trades intermediate.

Profit: +10 Pips

#2068

Look at this Order Management below, please.
Scalping Real Account
2012 June 08
In the morning I have make Losses between 2012 June 08, 02:55 - 03:16 GMT+2 (2012 June 07, 20:55-21:16 Broker Time) and I have to counterbalance it.

Fault Isolation!
I want to trade during Asian Open in the hope to make quick money.
I have make up my mind that the market price could go up and down for 10-20 Pips and not exclusively in the downside direction.

Alternative Solution
(1) When I react in this way I have to use the experimental accounts and not this scalping account.
(Experimental accounts can blow up. It would be okay for me).
(2) I have to exercice patience after the losses.
(3) I have stopped my trading after these trades in the early morning.
(4) I have wait a couple of hours.
(5) I have monitored the next entry chance this afternoon.
(6) It's my job to counterbalances the loss orders.
(Followup 5:51pm: see also #2085).
FXcube