How far will I go with 11 trades, each 30 AUD? | Page 4 | Forex Factory

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How far will I go with 11 trades, each 30 AUD?

  • #61
  • Aug 11, 2013 9:13am Aug 11, 2013 9:13am
Quoting EmeraldEyes
{quote} Odds of winning a random 1:1 trade are much less than 50 percent after taking in to account a variable spread.
You're right, man. When you buy EURUSD with 1 pip spread it doesn't mean it will still be 1 pip when you exit.
  • #62
  • Aug 11, 2013 9:24am Aug 11, 2013 9:24am
Quoting seagreen
{quote} I meant what I said, don't try to twist it your way. I hope you understand the difference between theory and real trading.
I hope you realize that when you tell someone new that it is really hard (omg theres so much difference between theory and real trading, it must be SO HARD, hello people can read your implications), that you discourage them right from the beginning?

And stop thinking that everyone is stupid and cant read between the lines.

I stand by how i interpreted your statement also, stop twisting what i said by saying i twisted it. lol. this is the last time i will respond to you
  • #63
  • Aug 11, 2013 9:33am Aug 11, 2013 9:33am
Quoting Starry
{quote} I hope you realize that when you tell someone new that it is really hard (omg theres so much difference between theory and real trading, it must be SO HARD, hello people can read your implications), that you discourage them right from the beginning? And stop thinking that everyone is stupid and cant read between the lines. I stand by how i interpreted your statement also, stop twisting what i said by saying i twisted it. lol. this is the last time i will respond to you
Chill out, bro.
  • #64
  • Aug 11, 2013 2:14pm Aug 11, 2013 2:14pm
Instead of going at it as a game of chance. (Gambling) or 11 trades Here she goes! Yee Haw!. Think of it as a skill you are learning. For example, guitar (a hundred metaphors could be used here). Imagine buying a guitar with all the hopes of being a star. Then you practice for 6 mths and decide 'man I'm gonna go live, I need a gig! I'm gonna rock!' In reality you might be able to play smoke on the water real good in your bedroom mirror. But if you were to go out in front of a demanding audience, say The Apollo, where if you don't catch the audiences attention in the first ten seconds YOU ARE Screwed. The market isn't an audience of your Mom and some friends, it is the apollo. You have to study the guitar and practice practice practice. Then you will learn your style and what you can and can't do. Just take your losses in stride and don't expect anything. My advise would be to set one 'high probability' trade and walk away from it. Just watch it go for a month. Then spend the rest of your time practicing loosing money on demo.
  • #65
  • Aug 11, 2013 3:56pm Aug 11, 2013 3:56pm
Can someone enlighten me what is A+ trades and how do you execute that?
  • #66
  • Aug 11, 2013 4:24pm Aug 11, 2013 4:24pm
Quoting goldcrash
Next trade...EUR/USD stop short at 1,3323, stop loss at 1,3405 take profit at 1,3215
Got triggered...lets see.... (just example imaginary trade)
  • #67
  • Aug 11, 2013 6:08pm Aug 11, 2013 6:08pm
Quoting pickers
Can someone enlighten me what is A+ trades and how do you execute that?

an A+ trade is one which you analyzed according to your trading plan (if you're trading plan has good backtesting results). good enough for me .... i know its not really useful, but there's a difference between trading (trade your plan) and modifying your trading plan (to give more % winners and making all your trades high probability === A+).
  • #68
  • Aug 11, 2013 7:03pm Aug 11, 2013 7:03pm
Trading is about discipline not about gambling. Your posts indicate you are gambling with your hard earned trading capital not trading. Try setting some modest goals for your first trading sessions (say profit 10 pips and get out), learn to do that on a very consistent basis with very small lot sizes (.5 or 1 mini) and then you can ramp up your lots as you gain experience and confidence. Confidence and discipline are the things that will keep your trading in the forex for a long time. Good trading!
  • #69
  • Aug 12, 2013 3:33am Aug 12, 2013 3:33am
Quoting get10pips
Trading is about discipline not about gambling. Your posts indicate you are gambling with your hard earned trading capital not trading. Try setting some modest goals for your first trading sessions (say profit 10 pips and get out), learn to do that on a very consistent basis with very small lot sizes (.5 or 1 mini) and then you can ramp up your lots as you gain experience and confidence. Confidence and discipline are the things that will keep your trading in the forex for a long time. Good trading!
Who do you mean?me?By taking only high probability trades Im not gambling.
  • #70
  • Aug 12, 2013 7:13am Aug 12, 2013 7:13am
Quoting Starry
{quote} hey bud, were in the same trade except my target is lower , @ 1.3165! may we both proooofit!

Hey Starry....our trade does look good If this is a winner, then I would have the second winner out of 11 trades. Hope I can catch the good ones next week on my live account , too
  • #71
  • Aug 12, 2013 7:29am Aug 12, 2013 7:29am
Quoting goldcrash
{quote} Hey Starry....our trade does look good If this is a winner, then I would have the second winner out of 11 trades. Hope I can catch the good ones next week on my live account , too
It does look good! My target is now 1.3187. I'm actually shorting through an option on an ETF called FXE. Cross ing fingers!
  • #72
  • Aug 12, 2013 7:42am Aug 12, 2013 7:42am
Quoting Starry
{quote} It does look good! My target is now 1.3187. I'm actually shorting through an option on an ETF called FXE. Cross ing fingers!

but why do u use a differnet financial instrument rather than forex?
  • #73
  • Aug 12, 2013 7:49am Aug 12, 2013 7:49am
Quoting goldcrash
{quote} but why do u use a differnet financial instrument rather than forex?
Because I'm learning to trade stocks on the daily timeframe. My dream for forex is to trade the tick chart on eurusd but tha ts nuch more intense for me and I want first a history of success on daily timeframes. When I'm ready I have a small account to practice this using oanda.
  • #74
  • Aug 12, 2013 7:52am Aug 12, 2013 7:52am
Quoting Starry
{quote} Because I'm learning to trade stocks on the daily timeframe. My dream for forex is to trade the tick chart on eurusd but tha ts nuch more intense for me and I want first a history of success on daily timeframes. When I'm ready I have a small account to practice this using oanda.
ah ok I see....indeed the tick chart is kind of stressfull but u have the chance to trade more often...lol
  • #75
  • Aug 13, 2013 8:33am Aug 13, 2013 8:33am
Quoting Starry
{quote} It does look good! My target is now 1.3187. I'm actually shorting through an option on an ETF called FXE. Cross ing fingers!

our trade is looking very good...take profit target almost reached
  • #76
  • Aug 13, 2013 12:04pm Aug 13, 2013 12:04pm
Quoting goldcrash
{quote} our trade is looking very good...take profit target almost reached
took profit now, its forming a pin bar on the 4 hour chart! woot in profit! but damn i messed up this morning on another option and closed a trade by putting a limit instead of a stop limit order on my option
my trade closed immediately in loss

be thankful for simple text boxes which are labelled 'stop loss!' But I am still net profit including my fxe trade !!! woot!
  • #77
  • Aug 13, 2013 4:53pm Aug 13, 2013 4:53pm
Quoting Starry
{quote} took profit now, its forming a pin bar on the 4 hour chart! woot in profit! but damn i messed up this morning on another option and closed a trade by putting a limit instead of a stop limit order on my option my trade closed immediately in loss be thankful for simple text boxes which are labelled 'stop loss!' But I am still net profit including my fxe trade !!! woot!
ok im shorting again. short at 1,3246 stop loss at 1,3271 take profit at 1,3212..lets see
  • #78
  • Aug 13, 2013 4:55pm Aug 13, 2013 4:55pm
Quoting goldcrash
{quote} ok im shorting again. short at 1,3246 stop loss at 1,3271 take profit at 1,3212..lets see

lol, im long well be counterparties! except im trying to trade the daily timeframe ...
  • #79
  • Aug 13, 2013 5:01pm Aug 13, 2013 5:01pm
Quoting Starry
{quote} lol, im long well be counterparties! except im trying to trade the daily timeframe ...

Im not short before my stop short order gets triggered....good luck for both of us
  • #80
  • Aug 13, 2013 5:03pm Aug 13, 2013 5:03pm
Quoting goldcrash
{quote} Im not short before my stop short order gets triggered....good luck for both of us

my target is 1.3550 . yup! i hope it flies way way up
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