EURUSD | Page 45504 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #910,061
  • Jul 12, 2014 2:01pm Jul 12, 2014 2:01pm
Quoting CandleStar
{quote} Might be I aim for more but not now, not in this market situation. To my accounts: They are small at the moment but I handle my trades as if they were big cause they will be within 1-2 months, I will fill up the accounts with a lot of fresh money but treat the accounts as if that had already happened. I will not withdraw any capital for 1-2 years, so even with only 3-5% p.w. I can make a million or more with a starting of letīs say $40K. I tried to start small and get big the natural way, but I gave up, much too risky or it takes too long....

Hi CandleStar,

Maybe I see it different from everyone here I guess.
I'm not planning on using the power of compounding ...
Trust me, I know the different between trading 1 lot 10 lots and 100 lots...
I blew up too many accounts before ...
I have trade 100 lots at one time ... and the feeling is totally different than 1 lot.
I guess most trader lost $ because of aiming for too high or big $$$.
My only recommendation is to have enough capital for you to make a living with consistent income coming in weekly.
One of the most widely way to get rich is to use other $$$$ to trade and earn commission or/and fees.
Otherwise, I don't see how people can get rich with trading with their own capital.
Everything is easier to said than being done.

Goodluck with your trading, I myself trying to aim at 20 pips a day @ 2.5 lots ... like $400-500 daily.
Not aiming for way too many pips...those are just not realistic for most traders.
I bet there are more scalpers here than long term traders.

Power of compounding is a very dangerous game.
The more you have at stake the easier is to lose.
  • #910,062
  • Jul 12, 2014 2:16pm Jul 12, 2014 2:16pm
Quoting aarontdang
{quote} Hi CandleStar, Maybe I see it different from everyone here I guess. I'm not planning on using the power of compounding ... Trust me, I know the different between trading 1 lot 10 lots and 100 lots... I blew up too many accounts before ... I have trade 100 lots at one time ... and the feeling is totally different than 1 lot. I guess most trader lost $ because of aiming for too high or big $$$. My only recommendation is to have enough capital for you to make a living with consistent income coming in weekly. One of the most widely way to...
Okay, 20 pips were very little in the old days but with an ATR of 30-40 pips during the last weeks you have to hit it pretty good to get 20 pips out of one trade (one direction). If you need two trades that doubles your stress and your risk to lose.

My calls were running further than where I exited, so my goal for the moment is to hold my trades longer cause the chances for a trade that follows my own rules only appears every 2-3 days, i.e. 1-3 trades per week i.e. not more than 3% that I can make with this method, but I want 5% so I have to do something about it.

In the end everybody has his own targets and stress.
  • #910,063
  • Jul 12, 2014 2:22pm Jul 12, 2014 2:22pm
Anyone know a good video about MM that is free?
Back from the dead * ding fries are done *
  • #910,064
  • Jul 12, 2014 2:25pm Jul 12, 2014 2:25pm
Quoting aarontdang
{quote} Hi CandleStar, Maybe I see it different from everyone here I guess. I'm not planning on using the power of compounding ... Trust me, I know the different between trading 1 lot 10 lots and 100 lots... I blew up too many accounts before ... I have trade 100 lots at one time ... and the feeling is totally different than 1 lot. I guess most trader lost $ because of aiming for too high or big $$$. My only recommendation is to have enough capital for you to make a living with consistent income coming in weekly. One of the most widely way to...
You do know that compounding simply means that you keep your risks the same? Certainly there are psychological levels. One might not be ok with seeing -$1000 in draw down even with a $1,000,000 account.. haha If you keep the risk fixed, then the only variable will be the lot size. You can increase, decrease the risks depending on how you feel obviously. Risk depends on how much of a mental strain you want to have.

Try not to attach a dollar number when you trade. I only care about %. Doesn't matter if someone makes 20pips or 2000pips a day, what matters is the risk that they took to get the gain. And then what is risk? the risk is based on the strategy s/he trades, not just money. It gets pretty complicated when you dive into it. Money management is the key in becoming a successful trader. And then you need to understand your system in order to understand the risks it has (weaknesses) and the possible rewards you could gain (strengths).

Anyways, at the end of the day, do what makes you happy! hehe
Focus, Patience, Determination & Order in chaos
  • #910,065
  • Jul 12, 2014 2:40pm Jul 12, 2014 2:40pm
Quoting saver0
{quote} You do know that compounding simply means that you keep your risks the same? Certainly there are psychological levels. One might not be ok with seeing -$1000 in draw down even with a $1,000,000 account.. haha If you keep the risk fixed, then the only variable will be the lot size. You can increase, decrease the risks depending on how you feel obviously. Risk depends on how much of a mental strain you want to have. Try not to attach a dollar number when you trade. I only care about %. Doesn't matter if someone makes 20pips or 2000pips a day,...
Hi Saver0,

whats the largest size lots you ever trade?
or combine lots open at one time?
  • #910,066
  • Jul 12, 2014 2:55pm Jul 12, 2014 2:55pm
@ Aaron,

canīt answer your pm because of your restrictions, but my answer would be "no I donīt have".
  • #910,067
  • Jul 12, 2014 3:33pm Jul 12, 2014 3:33pm
Quoting OnlineAddict
{quote} I know that, all I said was that all that bears can target is 1.36...price goes to 3620, all they can target is 36 and even that is going to end soon. For me, its crazy to short something that doesn't even want to close below 1.36, because when price is rejected like this, its only a matter of time, until it spikes up with no return, until all shorters have margin calls. Give it a few more tests of 1.36 and then bears will wake up to 1.37-38 one day and will think of a way to save their accounts. Then when all shorters are dead, smart money...
"The smart money will then send it lower like a knife through butter" -> LOL HAHAHA
  • #910,068
  • Jul 12, 2014 3:47pm Jul 12, 2014 3:47pm
Quoting meleeam
{quote} "The smart money will then send it lower like a knife through butter" -> LOL HAHAHA
The good news are, all those moves will start from technical levels!!
We watch the charts from every angle so you don't have to!!
  • #910,069
  • Jul 12, 2014 5:26pm Jul 12, 2014 5:26pm
"Counting Pips"

[Chorus:]
Lately I been, I been losing sleep
Dreaming about the Pips that we could be
But baby, I been, I been prayin' hard
Said no more counting dollars
We'll be counting Pips
Yeah, we'll be compounding Pips

[Verse 1]
I see this life
Like a swinging vine
Swing my position across the line
In my face is flashing signs
Seek it out and ye shall find

But baby, I been, I been prayin' hard
Said no more counting dollars
We'll be counting Pips
Yeah, we'll be compounding percentage

"It's the Margin, Stupid."
  • #910,070
  • Jul 12, 2014 5:37pm Jul 12, 2014 5:37pm
Quoting Vachus
"Counting Pips" [Chorus:] Lately I been, I been losing sleep Dreaming about the Pips that we could be But baby, I been, I been prayin' hard Said no more counting dollars We'll be counting Pips Yeah, we'll be compounding Pips [Verse 1] I see this life Like a swinging vine Swing my position across the line In my face is flashing signs Seek it out and ye shall find But baby, I been, I been prayin' hard Said no more counting dollars We'll be counting Pips Yeah, we'll be compounding percentage
woo eou!
All posts are my personal opinion
  • #910,071
  • Edited 3:50am Jul 13, 2014 2:03am | Edited 3:50am
quote=saver0;7601185]{quote} Hi aarontdang, Spend some time understanding the power of compounding. 5% per week is still a huge gain if you can be consistent at getting 5% per week. With 5% per week, you can turn $1000 into $152,000 in just 2 years. And guess how much that would be in 5yrs? A mind blowing, $30,760,000!! In reality, all we need to aim for is 2-5% per week. Given enough time, you will have millions. Just be consistent Let the power of compounding work for you.[/quote]


Hi saver!

Is this a relaistic goal for you? 1-2% per day or 5% a week. To me it looks quite high. On the other hand I have big respect of your work and how much you give. You are a humble person. In addition you show your trades that most people dont do. I think though 0,5-1% is a more realistic goal? Otherwise it is too much risk and you can easlily blow the whole account. It depends on the size trading account you have but 0,5% profit can be a very good achivement.

I think it is two strategies:
1. is the long strategi you think the currency wil rise /fall in the future and you wait for this to happend
2, day to day trading and close the account every day.

My strategi is to have some longer position and wait paientially. I do not care if it goes up and down but I think it will go my direction in the future. Eg is rise USD/CHF and Euro/CHF and NOK.

day to day trading with USD/euro taking some small amounts every day. The danger with this strategi is once it goes it is a big chance one is out.

For me a combine of a long and shorter positions work. In the end it is the longer positions that give the best result.
  • #910,072
  • Jul 13, 2014 5:33am Jul 13, 2014 5:33am
Forex trading outlook for the week ahead. Active calendar with Yellen te4stimony the highlught. Watch EURUSD 1.36 as it wills et its tone

Inserted Video
  • #910,073
  • Jul 13, 2014 6:59am Jul 13, 2014 6:59am
Quoting Vachus
"Counting Pips" [Chorus:] Lately I been, I been losing sleep Dreaming about the Pips that we could be But baby, I been, I been prayin' hard Said no more counting dollars We'll be counting Pips Yeah, we'll be compounding Pips [Verse 1] I see this life Like a swinging vine Swing my position across the line In my face is flashing signs Seek it out and ye shall find But baby, I been, I been prayin' hard Said no more counting dollars We'll be counting Pips Yeah, we'll be compounding percentage
Sometimes I feel, Forex is just not good for people
Fix up, trade sharp ...
  • #910,074
  • Jul 13, 2014 9:51am Jul 13, 2014 9:51am
Quoting aarontdang
{quote} Hi Saver0, whats the largest size lots you ever trade? or combine lots open at one time?
Real money, I think maybe only up to around 1-1.2 lots committed at once. If demo matters at all, the max I have done is maybe 7 lots.

Like I said, I agree that there are psychological barriers. It's all based on our beliefs though. I have taken some time to change my beliefs so I feel differently about money now. I'm able to smile and be relaxed when my profits are in the red because I know I have done the best and I believe in my strategy and the decision I have made unless until I see something telling me that I may have made a mistake, then I think of all the options I have and do the best I can again. And I believe the best I can will improve over time. I'm only into about 3,000 hours of forex work in the past few years, so I have 7,000 more hours to go before I can tell myself that I am a professional I'm only 3/10th of my way there.
Focus, Patience, Determination & Order in chaos
  • #910,075
  • Jul 13, 2014 9:54am Jul 13, 2014 9:54am
Quoting Hickson
{quote} Sometimes I feel, Forex is just not good for people
"It's the Margin, Stupid."
  • #910,076
  • Edited 11:45am Jul 13, 2014 11:26am | Edited 11:45am
GOLD Update
Technical:
On previous week I said that area of probable retracement would be 1290 area, price didn't quite reach it and turned back up to touch .707 Ret weekly chart (last swing) without forming any reversal pattern on Daily chart. Remember that .707 was the last retracement down before this move up on Weekly chart.
What will I be looking for this week?

There is a very good area for short trades with confluence of major time frames (Daily and Weekly) around 1357/ 60, this will be 1.618 Extension Daily chart and .786 Retracement Weekly chart + Monthly R1, (the same setup we had with AUDUSD the week before) this area includes yearly central pivot as well and I will check as for the weekly pivots (it should be close to Weekly R1.
If price turns down from here and forms Daily candlestick pattern (Bearish engulfing or other) then, wait for retracement on 4 hours chart and short it!!
As usual this will be last level I will be looking for reversal to happen, after that will focus on something else.
Fundamental:
We will see whether the last push was a reaction to India's Government and import duty kept at 10%, Iraq's tensions (this push is not comfirmed by CTFC) or even just investors seeking safe haven.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 181 KB
Click to Enlarge Name: Screenshot2.png Size: 172 KB
We watch the charts from every angle so you don't have to!!
  • #910,077
  • Jul 13, 2014 11:50am Jul 13, 2014 11:50am
Quoting saver0
{quote} Yup, I try to aim for about 1 - 1.5% gain per day on average I find that with a daily goal, its easier to stay focused and less stressful when that goal feels easy. I could stress myself trying to aim for a higher gain but there is no need. Smooth sailing and less risky with a goal that you feel comfortable and confident in attaining. I'm sure this %day will be different for everyone. No trader is built the same. You have to figure out your risk appetite and then the skill level. Forex or anything in life is really a journey towards understanding...
Saver is that daily gain only by trading EU?
  • #910,078
  • Jul 13, 2014 12:09pm Jul 13, 2014 12:09pm
Quoting MarianneOslo
Hi saver! Is this a relaistic goal for you? 1-2% per day or 5% a week. To me it looks quite
Hi Marianne,

Thanks for your kind words

1-2% is realistic for me. Like I said in my post, it will depend on the person to person. I developed my money management strategy based on years of EA development and back testing experience. So I found something that worked for me. I work on my risk appetite as well. For example, I have one demo account with extremely high leverage which I have been getting x20 gains per day. Even with that, there is a way to trade. That account I'm able to trade as a true day trader. Risking a little to gain a lot. I don't compound there. It's just something I am testing out currently. But I don't see how trading that way is impossible. There are couple of guys I have seen that are really good at trading this way so it's not impossible. It's just different from person to person. Some are good at long term, some are good at swing trading, some are good at scalping. Each requires different types of risk management and money management and skills. I think its possible to learn it all as well. Also, I like to trade with multiple accounts a time with different styles. So even if I am "stuck" with my trades in one account, I have two more to make profits with.

Hope I answered your question
I will write more about this on a separate thread in a few months. Currently I am very busy with development, testing and trading
Focus, Patience, Determination & Order in chaos
  • #910,079
  • Jul 13, 2014 12:18pm Jul 13, 2014 12:18pm
Quoting janpec1000
{quote} Saver is that daily gain only by trading EU?
No, not only EU. But at a time I only have trades on 2-3 pairs. I break up my lots depending on how many pairs I plan to place trades on. I monitor 6 pairs at a time (EU, GU, EJ, AU, AJ, UJ). But that's with only one of my account, one strategy.

With another, something new that I'm testing, I monitor 8 pairs and before I execute trades, I look at its relation with all the other majors. I'm seeing that this gives me a good feel of where the market is and its possible direction.
Focus, Patience, Determination & Order in chaos
  • #910,080
  • Jul 13, 2014 12:50pm Jul 13, 2014 12:50pm
speaking from experience....

I have successfully gain 2% everyday "exactly" for 2 week straight No Daily loss and NO floating loss.

But after the 2 week I blow the account.

I have a % compound sheet, guess what, 2% is enough to make you millionaire..in 1 year if you keep wining 2% daily.

Long story short, 2% daily goal can only be achieve by holy grail. If you don't have a holy grail, the "realistic figure you can expect is 0.076% DAILY gain on average....

(side note on how it's 0.076%... well pro shark, hedge fund average 20% yearly gain total.. so 20% divide by 260 trading day in 1 year is 0.07%"

But no one like to accept reality so... good luck gamblers and people who don't have the holy grail.
332 traders viewing now