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  • #4,341
  • Aug 7, 2012 12:11am Aug 7, 2012 12:11am
We should focus on

 

  1. a good entry point(based on many factors to decide)
  2. low leverage so that you know you can sustain the ripples if it doesnt go well
  3. Money management in another tripe trade size lot ready to hedge or trade it same direction to cover losses at another strategic entry point

  • #4,342
  • Aug 7, 2012 12:12am Aug 7, 2012 12:12am
Quoting petehnm
be careful don't be giving away to many of their secrets...lol
Its ok .


One of the trick we used is we will blacklist account whom win consistently using good momeny management styles. and also those customers whom withdraw their winnings often ,we will also blacklist.
  • #4,343
  • Aug 7, 2012 12:14am Aug 7, 2012 12:14am
If you are winning consistently, we will also send our "relationship mgr" to have a cup of coffee to chat with you. this is to disturb your line of thought and make u unstable in emotions in trading.

In trading, a cool and stable mind is most important of all together with knowledge, low leverage and good money management tactics
  • #4,344
  • Aug 7, 2012 12:19am Aug 7, 2012 12:19am
Quoting leticus
For those whom had shorted, its ok if you have small leverage so you an play till 300 pips drawdown.

For those whom had shorted using 1:50 leverage, your trade maybe margin called when hit -100 pips drawdown
Hmm, how is 1:50 leverage hitting margin call?

Position sizing and leverage differs, it's how you plan a trade.

U can use up to 1:400

For example, your account is $1000.00 But u want to risk 5% that is $50.00

$50 on 1:50 should be about $0.25 per pip if u are using on a scale of 1:50 200 pips range.

$50 on 1:100 should be $0.50 per pip on a scale of 100 pips range.

So if u had shorted 1.0600 for example at $50.00, u could up leverage of 1:400 speculation bet with up to $5 per pip, meaning u have 10 pips SL at 1.0610 ask price.

Or even at $10 per pip with 5 pip stop loss at 1.0600 short, 1.0605 ask price stop loss.

I don't think anyone will whack an entire account on a single trade! Most are divided into risk % involves per trade. Unless you are trading with brokers like ETORO that force u to lock ur margin in a single trade. If u are trading Meta trader margin, HOW IS 1:50 HITTING MARGIN CALL?

Unless u trade ur entire account $1000.00 on 1:50 on a 200 pips scale with $5 per pip at 0.5 lots. No offense mate, just want to understand where are you coming from?
  • #4,345
  • Aug 7, 2012 12:21am Aug 7, 2012 12:21am
Why we must always withdraw winnings often?

this is to avoid the emotions built up when u are losing pips on a bigger amount of money. Its always harder to stop loss when your 1 pip is USD200

compared to 1 pip = USD5 dollars

imagine now you are -20pips, for 1 pip(5 dollars) is only 100dollars

but for -20pips, 1 pip(usd200) , you are losing USD4000 now , so you may not able to stop loss according to your emotions

so rule of thumb is always used a fixed amount of money to play, and try to keep it small.

our strategy should be consistent technique in winning pips rather than winning big money exponentially
  • #4,346
  • Aug 7, 2012 12:23am Aug 7, 2012 12:23am
yes mate, i am talking about those whom trade with whole account in one trade using 1:50 leverage.

dun be surprised, based on my client list, 70% of them doing this to earn quick bucks.

and we like it because they lose fast.

Quoting 5percent
Hmm, how is 1:50 leverage hitting margin call?

Position sizing and leverage differs, it's how you plan a trade.

U can use up to 1:400

For example, your account is $1000.00 But u want to risk 5% that is $50.00

$50 on 1:50 should be about $0.25 per pip if u are using on a scale of 1:50 200 pips range.

$50 on 1:100 should be $0.50 per pip on a scale of 100 pips range.

So if u had shorted 1.0600 for example at $50.00, u could up leverage of 1:400 speculation bet with up to $5 per pip, meaning u have 10 pips SL at 1.0610 ask price.

Or even at...
  • #4,347
  • Aug 7, 2012 12:24am Aug 7, 2012 12:24am
Quoting leticus
If you are winning consistently, we will also send our "relationship mgr" to have a cup of coffee to chat with you. this is to disturb your line of thought and make u unstable in emotions in trading.

In trading, a cool and stable mind is most important of all together with knowledge, low leverage and good money management tactics
Leticus
your posts are very intriguing
I have a question
currently I use standard US 1:50 but you suggest 1:10 or 1:20
When shorting does the swap lower when using lower leverage or same.
my broker charges around 80c per day for shorting aud but I find this high.
In trading, you have to be defensive and aggressive at the same time
  • #4,348
  • Aug 7, 2012 12:26am Aug 7, 2012 12:26am
Quoting leticus
Why we must always withdraw winnings often?

this is to avoid the emotions built up when u are losing pips on a bigger amount of money. Its always harder to stop loss when your 1 pip is USD200

compared to 1 pip = USD5 dollars

imagine now you are -20pips, for 1 pip(5 dollars) is only 100dollars

but for -20pips, 1 pip(usd200) , you are losing USD4000 now , so you may not able to stop loss according to your emotions

so rule of thumb is always used a fixed amount of money to play, and try to keep it small.

our strategy should be consistent technique...
Maybe you want to start your own thread about BROKERS commercial secrets telling/advising people how to trade there to survive or how to trade against retailer's flow.. I see u are from Singapore. which broker firm? Igmarkets? CMC? GFT? Philip? Anyway, i don't trade Singapore brokers, because they ain't competitive and support is not up to standard compared to others out there.

This thread should be stick to drawings and Ausssieeee dollar. i don't know what u are talking about for the past few posts, how relevant?
  • #4,349
  • Aug 7, 2012 12:26am Aug 7, 2012 12:26am
Quoting Davit
Leticus
your posts are very intriguing
I have a question
currently I use standard US 1:50 but you suggest 1:10 or 1:20
When shorting does the swap lower when using lower leverage or same.
my broker charges around 80c per day for shorting aud but I find this high.
it will be by right smaller if u use lesser leverage. but depend on broker policy
  • #4,350
  • Aug 7, 2012 12:27am Aug 7, 2012 12:27am
Quoting 5percent
Maybe you want to start your own thread about BROKERS commercial secrets telling/advising people how to trade there to survive or how to trade against retailer's flow.. I see u are from Singapore. which broker firm? Igmarkets? CMC? GFT? Philip? Anyway, i don't trade Singapore brokers, because they ain't competitive and support is not up to standard compared to others out there.

This thread should be stick to drawings and Ausssieeee dollar. i don't know what u are talking about for the past few posts, how relevant?
ok , respect your wishes
  • #4,351
  • Aug 7, 2012 12:28am Aug 7, 2012 12:28am
Quoting leticus
yes mate, i am talking about those whom trade with whole account in one trade using 1:50 leverage.

dun be surprised, based on my client list, 70% of them doing this to earn quick bucks.

and we like it because they lose fast.
Of course i know, since most brokers are trading against their client after reviewing they are gamblers and have high opportunity and probability to LOSE. They eventually come back more and lose more, that's what brokers wants.

Good traders with risk and money management can survive all courses up and down in Forex cycle.
  • #4,352
  • Aug 7, 2012 12:33am Aug 7, 2012 12:33am
Quoting TrendTrader
Hey DB,
So you thinking we start to climb higher on AU?
I am seeing some possible reversal at the 1.0595 area...and looking at daily adx...starting to fall...
What u think?

TT
Hi DB,
Just wanted to clear up my view on why i was thinking of this level.

http://screencast.com/t/PoHMm2FuvtwF

TT
  • #4,353
  • Aug 7, 2012 12:33am Aug 7, 2012 12:33am
Quoting 5percent
Maybe you want to start your own thread about BROKERS commercial secrets telling/advising people how to trade there to survive or how to trade against retailer's flow.. I see u are from Singapore. which broker firm? Igmarkets? CMC? GFT? Philip? Anyway, i don't trade Singapore brokers, because they ain't competitive and support is not up to standard compared to others out there.

This thread should be stick to drawings and Ausssieeee dollar. i don't know what u are talking about for the past few posts, how relevant?
thread's purpose is to exchange ideas not stagnate them
I thought his posts were helpful.
In trading, you have to be defensive and aggressive at the same time
  • #4,354
  • Aug 7, 2012 12:38am Aug 7, 2012 12:38am
Btw...I like the ADX indicator, its like having 3 indicators in one...really helps to understand trend. I will post some info why i like trend following...

TT
  • #4,355
  • Aug 7, 2012 12:39am Aug 7, 2012 12:39am
The reason trend traders make money in the long term is because due to supply and demand and the flow of capital equities, currencies, commodities,
and future contracts tend to trend in one direction or the other in different time frames, trend traders and trend followers are there to capitalize
on those trends by letting the market action determine their buy and sell decisions seeking to be on the right side of the market’s trend the majority of the time.

Here is why it works:

1 Bear markets have no supports, they keep falling until a new support level is found.
2 Bull markets have no resistance, they keep keep going up until a new resistance level is found.
3 The world’s capital is always flowing and seeking to find returns; this flow causes trends to emerge.
4 Monster stocks can double due to earnings growth expectations.
5 Currencies can plunge based on fear of a nations solvency.
6 Commodities can run to absurd levels based on supply expectations.
7 Fear can bring markets down far below what any one thinks is rational.
8 Greed can inflate markets up far above any reasonable valuations.
9 Trend traders are not predicting price action they are simply following it. They let reality guide them not opinions.
10 Markets tend to trend and systems that are able to capture trends and minimize losses in choppy environments are robust in the long term.

TT
  • #4,356
  • Aug 7, 2012 12:44am Aug 7, 2012 12:44am
Quoting leticus
If you are winning consistently, we will also send our "relationship mgr" to have a cup of coffee to chat with you. this is to disturb your line of thought and make u unstable in emotions in trading.

In trading, a cool and stable mind is most important of all together with knowledge, low leverage and good money management tactics
Agree.
  • #4,357
  • Aug 7, 2012 12:45am Aug 7, 2012 12:45am
Quoting Davit
thread's purpose is to exchange ideas not stagnate them
I thought his posts were helpful.
i agreed his post are helpful to some extends about broker's secrets or how to trade better, but it will be better it's more to currency aussie of trade plan or resistance/support. If he can reveal what their broker are doing on aussie dollar, putting through interbank or on held, and trade against client will be better ?

TrendTrader TREND Trading said was right!

remember when aussie fell from 1.0445 into 1.0177 2 weeks ago? most people panic, because aussie is a stubborn currency, it can keep going one direction until a huge rejection. Remember that 4 hour pin + body rejection from 1.0177-1.0225, that was the turn around game for Aussie into current heights.

Given there are no more shorts from 1.08 previously to the fall to 0.96, now all are build longs from under approaching and targeting new high, until a TOP is identified to move this pair down into parity again like what DB said.
  • #4,358
  • Aug 7, 2012 12:50am Aug 7, 2012 12:50am
Went long again

Think it has to take out 16000,

So close to jumping over the fence,16000

Might be able to grab a few pips before it zooms down
  • #4,359
  • Aug 7, 2012 12:52am Aug 7, 2012 12:52am
Quoting eliteincome
Went long again

Think it has to take out 16000,

So close to jumping over the fence,16000

Might be able to grab a few pips before it zooms down
Reminds me of that movie with will farrell...."Shake and Bake"



TT
  • #4,360
  • Aug 7, 2012 1:06am Aug 7, 2012 1:06am
Quoting TrendTrader
Hi DB,
Just wanted to clear up my view on why i was thinking of this level.

http://screencast.com/t/PoHMm2FuvtwF

TT
TT, my reasons were different from that chart.

It's at the top of the diagonal.
It's at FIB 76.40.
It's at the end of the pattern.
-DB-
daddybearforex. com
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