Cable Update (GBPUSD)

u say u traded 10 lots with 8 pips stop loss??? really!!
man i find the closer the stop the more stress i feel..i simply cant do this..

u have any particular technique which has lead to u being this strong..i need tip in this area
perhaps i hate being wrong?

I am trading without stoploss, i manage the risk with hedging. You can see how is working...
https://www.myfxbook.com/portfolio/fxpredator/391204
Do you think i will lose the account?

yeap hedging sucks.you never know when to close one in profit and keep the minus one till it turns green

aaa.....here's the thing

I will give one example here and try to be as clear as possible

let's say you have a 10k account.
as per my rule(not a general rule) you can trade 1 lot per trade.

risking 1% of the account makes no sense and it is just a bullsh** designed by the bankers to fuc** you up with your account.

there is no way for a newbie to start with 200 USD and risk 1%

1% means 2 USD as in 20 pips on a micro so winning should be at least 40 pips per trade just to make a winning....so 4 usd per trade

this way it will take ages to go big.

now let's get back to the 10k account

you have 1 lot per trade and even if you risk the 1% that would be 100USD loss or 10 pips.let's say you got balls and keep a 2-5% loss but c'mon..what's the point in having such a big DD ? let's remember you need at least 20 pips winning here as in 200 USD.

now let's say you enter your trade with less lots as in 0.5.0.5 lots would bring you what ? 1% loss as in 100 usd is @ 20 pips away.fair enough and you can win 200 usd as in the first trade but in double the number of pips...40 I mean

the calculation can go on

the thing is that in this market it is better to take 10-20 pips and leave.the less lots you have the less money you make and the more time you spend in the market.

1% is still 1%.I know it sounds cliche(been there done that) but all you have to do is set up a number in your head nothing more

HOW MUCH ARE YOU ABLE TO LOOSE ON ONE TRADE?

does it worth it ? can you risk it? how big is it compared to the winnings you had for the week or month? does it affect the balance or just the winnings ?

this way you can update your risk.as soon as you spot a sure trade you can jump on with higher lots and tighter spread.

now....there is a secret in this.bankers hunt SL.how can you tell if your SL is secure or not ? well....calculations can help a lot.they can pinpoint the exact entry (look at my call on 6032 with 5 pips SL)but there is always a chance you can lose the trade.it happens,somehow they eat SL and then continue but you can't stop it.

you just need to take all the precautions you can to do it properly and accept the risk.

if I told you I used 40 lots per trade and 3 pips SL would you belive me ?

anyway,for me it is easier as I fried some connections since I was a sports trader and had turnovers of millions and up to 500k in red numbers during the games....now that's a DD

remember,a number is a number.set it up for your account and trade accordingly.remember the less lots the more time you spend in the market..even if you have the fake impression that your SL is bigger and it will not be touched


p.s. good entries can be on the spot,I will PM you a study I made this week

thank u for taking the time to type this..

Don't trade with so many position (the pair), you can increase the lots per position, but don't make lots of position, you are not a robot who can control all the positions at once, and someday it will create panic situation when the positions against you.
Hedging used as "stop loss" to buy time for making us to reconsider our position which against us, it can influence our analysis.Reconsider the stop loss/hedge based on your profit taking, if you usually profit taking on 50 pips, set the stop loss/hedging maximum on 50 pips (shorter was better), don't ever wait to wait it go longer, and release the hedge when the profit far over than the hedge gap / 50 pip (in ex. 200 pips) so you have higher possibility to get the 50 pips back lost when the market bounce back from the 250 pips movement (which usually happen) or maybe more and release the other position too (in loss state but the total for the 2 hedging position still positive)
Don't make the hedge again since it will broaden the hedge gap, and again, it will influence your analysis.
you'll not lose your account ok?
cheers

I trade a 5 k demo account to start and even i dont dare trade huge lots, my largest trade? 0.5 lot on a ucad with tight winnings and even tighter sl, entered at the trendline, that worked for me, i ended up with being in profit and get out, i cant wait for it to turn to profit in days
Otherwise i usually load up trades when market goes against the trend

Thats it. but you must know how to place the stop for market not to take you out & still keep going to your predetermined direction.

That's a great point & consideration too . without it simply a suicide action placing a sl , yes 'be' is worry free though. So sl above a good limit level if can tolerate the loss if hit ,otherwise not take that trade also . if limit broken so the trade was actually prove wrong & so better leave & hit with minimum loss. abnormality can happen though at time , hit & back again , but not so frequently than not.

fontu

Heiii,

what's up

mah shorts are looking good.... i wonder where did all the bullish hype go from last week??

With in a week I try to learned from babypips.com. but I don't have a demo account now I will try all my best to get my money back and I hope God with me now. Otherwise I will quit to trade. Please teach me how to trade this fellow. Thank you

wtf is wrong with you?

possible sell.

but don't hurry

http://www.easyfreesmileys.com/smileys/lol-045.gif

Just because this chap's English is not up to scratch, doesn't mean that there is something wrong with him

I got to say... GBPUSD is acting ABSOLUTELY weird but given its Monday i guess i can allow a bit of a shocker...

Hahahaha! This made my Monday morning this comment!

great,3 pips away.I'm tellin' you,you really suck

but...I bought @ 6020 for 6057

now sold @ 6057 again for 6040 and retest of 6020

good luck champs

american greed here i come