Technicals look picture perfect for a short position on both Brent and WTI, but NFP is less than 30 minutes away so I will wait. Oh well, Stochs just crossed down and still in the 80s level. It could retest the previous swing low of $77.26, and maybe pierce through it. Who knows.
Question to oil traders: Where do you set your stop loss when trading the daily? at least $1.25 SL?
Hello EG-FX, could you tell me a bit about your stories? How do you start trading? How is your first years? When do you start to make it?
Thanks
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Hi duyk20.
I got into equities late 2008 and I discovered Forex early 2009 (I was 19 then). I spent less than 1 hour trading on simulation before I opened a micro account with $100. Not knowing anything, I just clicked on random buttons and next thing I know I have an open position. I blew my account pretty quickly and I learned that throwing yourself out in the open sea while learning how to swim wasn't the best idea. I found how dangerous it can be, and how easy it was to get eaten by sharks. I then stepped back and learned the basics before I opened another account, again not going through simulations. I did better than my previous account, but still managed to blow it up.
Here I am now on my third account, with more knowledge, experience and higher capital. Obviously, I still have my ups and downs but I always incorporate proper risk and money management so I can survive for another day and be able to open another position when a new opportunity arises. I mostly trade longer term charts (daily and weekly) except for crude oil.
I got into equities late 2008 and I discovered Forex early 2009 (I was 19 then). I spent less than 1 hour trading on simulation before I opened a micro account with $100. Not knowing anything, I just clicked on random buttons and next thing I know I have an open position. I blew my account pretty quickly and I learned that throwing yourself out in the open sea while learning how to swim wasn't the best idea. I found how dangerous it can be, and how easy it was to get eaten by sharks. I then stepped back and learned the basics before...
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Thanks for the info, mate. Are you trading full-time currently?
AUD/USD on the radar for possible short by the end of this week. I rarely shorted this pair, but all that has changed now that rollover rates are lower and much less intimidating.
PS. I will start using MT4 for posting charts. There are more tools compared to TSII.
Open trades: I do have other trades but they were opened before this thread was started.
GBP/USD (7/5/12) = +88 pips.
