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  • #61
  • Mar 18, 2017 2:23am Mar 18, 2017 2:23am
Quoting aud
{quote} You probably picked the wrong thread for you post, to get much of a response. That said, welcome. Question - if you are trading an RSI crossover ie 6 and 14, what do you need all the RSI lines in the middle for?
the rsi 8,10 & 12 are there for Range ,Consolidation and Trend.If you look at the line's parting that gives you the range as well as consolidation also the trend can be seen so there no point in the trend into it lol. i8 hope that answers your question.
  • #62
  • Mar 18, 2017 2:47am Mar 18, 2017 2:47am
Quoting PiranoTrader
Hi, I've been trading for few years now and being "consistantly profitable" is not the biggest problem I have. The problem I have is with low trading capital. Some friends advised me to open a small live pamm account and connect it with trade explorer, myfxbook, fxstat, ... to prove that I can trade. So I did that a few months ago. As I was told getting the funds for consistant traders shouldn't be a problem ("the money will find you if you are good" I was told, hehe). But apparently it is a problem (at least for me) because I don't even know what...
I am just going to be real with you, You shouldn't have quit your job until you had a good amount of savings. Enough so you can survive a few years if shit goes south. For your current status, you need to get a part time job or full time depending on how much money you need to cover expenses, because ultimatly there will be a month or two that you won't make much profit.
  • #63
  • Mar 18, 2017 4:05am Mar 18, 2017 4:05am
Quoting PiranoTrader
Hi, I've been trading for few years now and being "consistantly profitable" is not the biggest problem I have. The problem I have is with low trading capital. Some friends advised me to open a small live pamm account and connect it with trade explorer, myfxbook, fxstat, ... to prove that I can trade. So I did that a few months ago. As I was told getting the funds for consistant traders shouldn't be a problem ("the money will find you if you are good" I was told, hehe). But apparently it is a problem (at least for me) because I don't even know what...

Not sure if it's already been mentioned, but have a look into Darwinex. Might be a good place to start.
  • #64
  • Mar 18, 2017 4:43am Mar 18, 2017 4:43am
hi all, blessed to say that the last two years I have made 200k plus per year through forex. I aim to make 650 a day

i think the most important thing is to have allot of capital behind you. Last week with some bad trades my tally is 40k negative but these are open positions. It's business so your going to have good weeks and bad weeks
  • #65
  • Mar 18, 2017 4:48am Mar 18, 2017 4:48am
Quoting jpcashflow
hi all, blessed to say that the last two years I have made 200k plus per year through forex. I aim to make 650 a day i think the most important thing is to have allot of capital behind you. Last week with some bad trades my tally is 40k negative but these are open positions. It's business so your going to have good weeks and bad weeks
These you Aus positions? You've been talking it down..
  • #66
  • Mar 18, 2017 4:54am Mar 18, 2017 4:54am
Quoting jpcashflow
hi all, blessed to say that the last two years I have made 200k plus per year through forex. I aim to make 650 a day i think the most important thing is to have allot of capital behind you. Last week with some bad trades my tally is 40k negative but these are open positions. It's business so your going to have good weeks and bad weeks
Hang on... just re-reading this... you've lost 20% of your yearly earnings in one week? Wtf?
  • #67
  • Mar 18, 2017 4:56am Mar 18, 2017 4:56am
Quoting jpcashflow
hi all, blessed to say that the last two years I have made 200k plus per year through forex. I aim to make 650 a day i think the most important thing is to have allot of capital behind you. Last week with some bad trades my tally is 40k negative but these are open positions. It's business so your going to have good weeks and bad weeks
why would you hold on to a loosing trade with 20% exposure? If you are up 200K your entries are probably perfect at this stage with little or no drawdown at all.
  • #68
  • Mar 18, 2017 5:14am Mar 18, 2017 5:14am
Quoting CrucialPoint
Insider Information {image} Quick Answer: If you want to be an institutional trader you need: 5 years of trading record 5 years your journal trading records trading with a minimum of $500,000 Or have grown your small account to at least $500,000 - $1M Every firm are open to a new trader position. And every year, there are tens of thousands of applicants. What makes you stand out of 10,000 applicants, where only around 100 seats are available? I'm sorry to burst your bubble, but a 50% return a year with a $9k fund is nothing special....
Best post at forexfactory which i ever read...
  • #69
  • Mar 18, 2017 5:22am Mar 18, 2017 5:22am
Quoting oztrader79
{quote} These you Aus positions? You've been talking it down..
I got two aud vs usd not worried.
Two gbp vs usd cautious
  • #70
  • Mar 18, 2017 5:22am Mar 18, 2017 5:22am
Quoting CrucialPoint
Insider Information {image} Quick Answer: If you want to be an institutional trader you need: 5 years of trading record 5 years your journal trading records trading with a minimum of $500,000 Or have grown your small account to at least $500,000 - $1M Every firm are open to a new trader position. And every year, there are tens of thousands of applicants. What makes you stand out of 10,000 applicants, where only around 100 seats are available? I'm sorry to burst your bubble, but a 50% return a year with a $9k fund is nothing special....
Have you ever worked for an asset management firm / institution ? Because this is the biggest bullshit I've ever read to be honest. I'm ready to show my track record for the past 5 years, are you ready too?
  • #71
  • Mar 18, 2017 5:23am Mar 18, 2017 5:23am
Quoting oztrader79
{quote} Hang on... just re-reading this... you've lost 20% of your yearly earnings in one week? Wtf?
Have not closed my positions there still open. So what I do is use daily profits and start closing positions
  • #72
  • Mar 18, 2017 5:25am Mar 18, 2017 5:25am
Quoting asgcorp
{quote} why would you hold on to a loosing trade with 20% exposure? If you are up 200K your entries are probably perfect at this stage with little or no drawdown at all.
I have a further 300k capital... in two days the tide can turn. It's all about being patient
  • #73
  • Mar 18, 2017 5:32am Mar 18, 2017 5:32am
Quoting jpcashflow
{quote} I have a further 300k capital... in two days the tide can turn. It's all about being patient
where's your current drawdown which pair?
  • #74
  • Mar 18, 2017 5:40am Mar 18, 2017 5:40am
Quoting asgcorp
{quote} where's your current drawdown which pair?
GBPUSD
AUDUSD

fed killed me and then hawkish news from BeO didn't help either
  • #75
  • Mar 18, 2017 5:44am Mar 18, 2017 5:44am
Quoting jpcashflow
{quote} GBPUSD AUDUSD fed killed me and then hawkish news from BeO didn't help either
Ahh yeah I hear ya, AU is a sack of shit, it's a fake pop though. AU's going down next week big time (7540).GU be careful, it's 5 impulse wave structure into 2550. here's GU H4.
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  • #76
  • Mar 18, 2017 5:54am Mar 18, 2017 5:54am
Quoting asgcorp
{quote} Ahh yeah I hear ya, AU is a sack of shit, it's a fake pop though. AU's going down next week big time (7540).GU be careful, it's 5 impulse wave structure into 2550. here's GU H4. {image}
Agreed mate might just take a hit on the pound and move on true
  • #77
  • Mar 18, 2017 5:56am Mar 18, 2017 5:56am
Quoting jpcashflow
{quote} Agreed mate might just take a hit on the pound and move on true
exit @ 2340 next week it will push higher into 2440 early and then dip 100 points. get out @ 2340. April is a strong month for pound also.
  • #78
  • Mar 18, 2017 6:47am Mar 18, 2017 6:47am
Quoting waxcrayon
{quote} Not sure if it's already been mentioned, but have a look into Darwinex. Might be a good place to start.
I agree with Darwinex. Also worth of look are TopStepTrader and Actualtraders.com.
TopStep and Actualtraders will fund you and let you keep most of the profits. Darwinex works differently and there it takes a more time to get funded and there is no quaranteed that you will actually get funded, even if yuo trade well. Take some time and compare these.
  • #79
  • Mar 18, 2017 6:49am Mar 18, 2017 6:49am
Quoting asgcorp
{quote} exit @ 2340 next week it will push higher into 2440 early and then dip 100 points. get out @ 2340. April is a strong month for pound also.
Thanks for the help

I think aud is going to get battered this week. With cny raising rates aud is going to getnhurt.
  • #80
  • Mar 18, 2017 6:55am Mar 18, 2017 6:55am
Quoting jpcashflow
{quote} Thanks for the help I think aud is going to get battered this week. With cny raising rates aud is going to getnhurt.
I posted more in AU thread, check it out ))) Have a good one mate!
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