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  • #699,961
  • Sep 29, 2012 6:40am Sep 29, 2012 6:40am
Quoting Vg1
I'm still learning to trade through charts and EURUSD mainly and have not had time to consider news, crosspairs and other info when trading....I hope to do that soon...

Right now just staring at and charting the euro pair over and over...

It's a very good thing to do Vg1. Haven't seen lots of new traders thinking this way. Lots of people are looking for the "SYSTEM" that will make them rich overnight. Going from system to system, from indicators to indicators while the real truth and beauty is in the charts!

Investing in screen time is very important and it will
allow you to become more confidant to pull the trigger in the future, when you'll spot a good trading opportunity.

Best,
Mel
  • #699,962
  • Sep 29, 2012 7:14am Sep 29, 2012 7:14am
Quoting @mel
It's a very good thing to do Vg1. Haven't seen lots of new traders thinking this way. Lots of people are looking for the "SYSTEM" that will make them rich overnight. Going from system to system, from indicators to indicators while the real truth and beauty is in the charts!

Investing in screen time is very important and it will
allow you to become more confidant to pull the trigger in the future, when you'll spot a good trading opportunity.

Best,
Mel
thanks =))
  • #699,963
  • Sep 29, 2012 7:19am Sep 29, 2012 7:19am
Investing in screen time is great, but if you don't pull the trigger, you won't make a dime.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #699,964
  • Sep 29, 2012 7:29am Sep 29, 2012 7:29am
Quoting KillerWhale
Investing in screen time is great, but if you don't pull the trigger, you won't make a dime.

True, you're right but pulling the trigger without knowing what you do, will make you broke... So, learning how the market works and investing in screen time is essential if you are serious about trading.
The second step would be, learning about Money Management.
  • #699,965
  • Sep 29, 2012 7:33am Sep 29, 2012 7:33am
Today USA, Europe and China are in recession! But who can find faster the road to recovery? USA or Europe?

USA YES. Why?

1. Half of Chinese Millionaires are Leaving China. They were also concerned with the security of their assets in China.China has 271 billionaires and there are 960,000 with at least $1.6 million. So They are buying US $ (US $ = safe heaven for Asia people)
USA vs Europe 1:0

2. Cheaper Energy = Faster way to reduce recession and back on track to recovery.
For exemple Oil Price. Spread Between Crude Oil(USA) and Brent Oil (Europe) is still very High.
In USA you can buy 1 gallon/3,78litre for ~3,8USD.
But in Europe you can buy 1litre for ~2€ , 1gallon/3,78litre for 7,56€

USA vs Europe 2:0

3. Political Views.

USA One country. One president, One constitusion and etc.
Europe many Coutries with different political views with many different Constitutions and etc. It means more time and more energy to find solutions.

Who will be faster on the way to recovery?

USA vs Europe 3:0

4,5,6,7... resons are much more....winner is only one in short ,medium term.


So it's time to check last bottom 1:2040
  • #699,966
  • Sep 29, 2012 7:34am Sep 29, 2012 7:34am
Quoting @mel
True, you're right but pulling the trigger without knowing what you do, will make you broke... So, learning how the market works and investing in screen time is essential if you are serious about trading.
The second step would be, learning about Money Management.
NO, the FIRST thing is to learn about Money Management,
Everything else comes second place.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #699,967
  • Sep 29, 2012 7:45am Sep 29, 2012 7:45am
Quoting KillerWhale
NO, the FIRST thing is to learn about Money Management,
Everything else comes second place.
Whatever!

I'm not here to argue! Just trying to help!
  • #699,968
  • Sep 29, 2012 8:47am Sep 29, 2012 8:47am
Quoting KillerWhale
NO, the FIRST thing is to learn about Money Management,
Everything else comes second place.
True , and if you have any doubts i can show you how much money i lost before in Forex ,beside my current orders which may cast me my account , all this because i did not focusing on money management and instead i start taking huge risk without protecting my investment

To make it short for you, Your account fate will be in the hand of the market's sharks, unless you're applying a very strong money management strategy
  • #699,969
  • Sep 29, 2012 9:09am Sep 29, 2012 9:09am
Quoting leiamra

To make it short for you, Your account fate will be in the hand of the market's sharks, unless you're applying a very strong money management strategy
I agree with that! And I am sorry to hear that you lost so much money.
What I wanted to say is, that If you understand how the market works and that you apply strong money management rules then you will have a very strong business model. Having just money management and no understanding of the market will probably give you a higher win rate than bad money managment and no understanding of the market but to me a very strong money management and no understanding of the market sounds like "gambling" .

Mel
  • #699,970
  • Sep 29, 2012 9:20am Sep 29, 2012 9:20am
Quoting @mel
I agree with that! And I am sorry to hear that you lost so much money.
What I wanted to say is, that If you understand how the market works and that you apply strong money management rules then you will have a very strong business model. Having just money management and no understanding of the market will probably give you a higher win rate than bad money managment and no understanding of the market but to me a very strong money management and no understanding of the market sounds like "gambling" .

Mel
I believe both need to go together. Good PA understanding with a strong money management would lead to success. I lost before, and current, because i was greedy and not having a proper strategy or money management plan in place.Also, i was effected a lot by the other traders posts and comments and sometimes emotional applying to trade. Of course now i improved a lot and i just wish i can save my account when the market will open, then a real strong MM will be in place and followed together with a proper understanding to the PA. Wish me luck
  • #699,971
  • Sep 29, 2012 9:22am Sep 29, 2012 9:22am
I just funded a less than $12 account aside from my primary account to trade next week; on this account, I will utilize all the leverage I get my hands on. Disregarding money management.
Perfect Trading Core completed on 13/10/2012 : 2002-2012 |10yrs
  • #699,972
  • Sep 29, 2012 9:38am Sep 29, 2012 9:38am
When you start feeling real good about your trade GTF OUT immediately. Your profits can disappear rapidly when you feel like KING KONG !!!
  • #699,973
  • Sep 29, 2012 9:41am Sep 29, 2012 9:41am
YES, KING KONG is a very dangerous man.
  • #699,974
  • Sep 29, 2012 9:56am Sep 29, 2012 9:56am
Quoting @mel
I agree with that! And I am sorry to hear that you lost so much money.
What I wanted to say is, that If you understand how the market works and that you apply strong money management rules then you will have a very strong business model. Having just money management and no understanding of the market will probably give you a higher win rate than bad money managment and no understanding of the market but to me a very strong money management and no understanding of the market sounds like "gambling" .

Mel


Oh My God



So now you suddenly agree with me?



New voice message: Why are you calling me? If I need you, I'll call you!
  • #699,975
  • Sep 29, 2012 10:11am Sep 29, 2012 10:11am
Quoting KillerWhale
Oh My God



So now you suddenly agree with me?



New voice message: Why are you calling me? If I need you, I'll call you!
  • #699,976
  • Sep 29, 2012 10:11am Sep 29, 2012 10:11am
Quoting Vg1
Here you come....It doesn't look nice but still...Yes...is was quite difficult to figure out the waves but I used fibo for that
how would you enter the trade?
  • #699,977
  • Sep 29, 2012 10:12am Sep 29, 2012 10:12am
Quoting KillerWhale
New voice message: Why are you calling me? If I need you, I'll call you!
  • #699,978
  • Sep 29, 2012 10:13am Sep 29, 2012 10:13am
Quoting pkimnyc
how would you enter the trade?
Anywhere, as long as it is pointed south
New voice message: Why are you calling me? If I need you, I'll call you!
  • #699,979
  • Sep 29, 2012 10:15am Sep 29, 2012 10:15am
Quoting KillerWhale

WTF? Are you mocking Mel ??? You must be a jackwagon !!!
  • #699,980
  • Sep 29, 2012 10:22am Sep 29, 2012 10:22am
ANSWER THE QUESTION killer whale !!!
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