well I'm going to be over this one like a rash given the volume previously traded here, but my stop is going to be above the highlighted highs
Trader Dale - daily trading levels
I just don't want Dale's levels to get to the wrong people or do something that could potentially hurt their accounts unless they're 100% sure they know what they're doing.
-500 account, 10% risk on 12 pips, the leveraged lot is: BIGGER than 50000...you get hit, loose 50 bucks and move on..no problem.
-BUT what if black swan hits, and your stop is only "honoured", 1500 pips below...I think the eurchf gap was even bigger!!!!! -If your broker sues you for negative balance, you would be down some 10000 ... -No problem ,you sell your car and start again..
-It goes great for a few months and you hit 50000....
..keep risking 10% with the lot size accordingly....
-Black swan hits
, your broker could sue for 10 million!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Having an edge is great, and can make a lot of money, BUT one needs to calculate ALL THE RISKS over and over again....take precautions... THEN...enjoy...
...your hard work...[/quote]Hi cuchuflito
Just use a broker with a "negative balance protection" in place
So if you have a $5k account - the very most you can lose in a massive black swan event is - just the capital of $5k - and not like as you have mentioned - massive amounts like $50K ++
I use Fx Pro - but there are many more reliable brokers with negative balance protection
If you are full time - like myself - I no longer trade with a $70k or $100k capital account - instead I use higher leverage with tight stops ( a recipe for disaster unless you are a very experienced scalper intraday trader - I am ) so only need capital account of $10 - 15K and can still have trading days of $500 to $1500 gains
I appreciate you will not read about this idea in books or courses - but for Forex trading you have to trust no one and think outside the box and gain as much knowledge as possible to keep one step in front of the rest
Good Trading
Regards
FXC
Trader Dale got his level correct again I know you have a few dissers and idiots on T2W who think its all a scam etc - but from what I have seen so far over the last 2 months is a professional trader who as worked out both S & R and supply and demand levels and is very accurate.
Can't imagine why anyone has doubted Dale on any website, all he has ever done is given his trading levels, and some advice, free of charge and for around 3 months now, what's not to like
My hope is this thread doesn't become full of "dissers & idiots" or anything else to make Dale feel disinclined to continue. All power to you Dale, you're most certainly on my Christmas list
I don't understand 1.0615 was never reached unless your spread was very big?
- #1,672
- Dec 12, 2016 6:56am Dec 12, 2016 6:56am
{quote} wasn't reached for me either Dk, but you have to say the level was deadly accurate, but for the want of 1 pip we'd all be sitting pretty, I'm sure some will have taken it anyway, I was sorely tempted but when it dropped down I wasn't going to chase it. Have to leave it as one that got away - there will always be others
- #1,675
- Dec 12, 2016 7:02am Dec 12, 2016 7:02am
- | Membership Revoked | Joined Sep 2016 | 1,511 Posts
just created an account to say: thank you trader Dale! your different approach is very helpful and the results are just impressive
- #1,678
- Dec 12, 2016 7:09am Dec 12, 2016 7:09am
- | Membership Revoked | Joined Sep 2016 | 1,511 Posts
{quote} Hello Sxy, RRR 1:1 means that the Reward Risk Ratio is 1 to 1. Means if you are risking 10 pips then you are targeting 10 pips as well. Similarly if you risk 20 pips then you target 20 pips. so the ratio remains 1 to 1. Dale always suggests 12-pip stop loss and a 10-pip target. And if you are new to Forex then you can start with trading Micro lot (0.01). Hope it helpsKhalidY