and Thank You Cube for GREAT meditational music.. which I have saved all.been trading the ASX200 this Oz day for a few points.. not really in mood to night..
FXcube
- #961
- Sep 24, 2014 7:01am Sep 24, 2014 7:01am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
FXcube
- #962
- Edited 10:21am Sep 24, 2014 7:05am | Edited 10:21am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
- #977
- Sep 24, 2014 10:38am Sep 24, 2014 10:38am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
A cogntive psychological advice
...to school oneself to patience before venture on scalping.
...by managing the risk at medium level.
FXcube
...to school oneself to patience before venture on scalping.
...by managing the risk at medium level.
FXcube
- #978
- Edited 10:58am Sep 24, 2014 10:45am | Edited 10:58am
- Joined Nov 2009 | Status: Trader | 27,245 Posts
A cogntive psychological advice ...to school oneself to patience before venture on scalping.
I like scalping at medium level, say for instance that I would risk on a 1'000.-$ Account one 0.05 lot trade, or 5 x 0.01 lot, or 2 x 0.025, or 3 x 0.01 & 1 x 0.02...When the market turns against me I could decide if I want go one more order intio the market with 1 x 0.025, or 2 x 0.02 or 1 x 0.05 lot again in anticipation of the release cord.
Risk relevance
The Profit of about +5% (see #976) means that I have +100 pips with one 0.05 lot order more freedom.
Most traders tend to trade with higher risk (e.g. 0.1) at this point from now onwards and so often they bargain away their comfortable status quo.
Come to think about it...let the risk at medium level, ...next chance will come, ..& imagine that one abrupt price movement (e.g. 70-110 pips) could destroy all your efforts. The market act up cuckoo so often. Be aware of this.
Hope it helps!
...& you've got some more ideas for your risk concept.
FXcube
