Rick honestly you can open a mini with 1k and be good to go....i mean at $1 per pip or at other sites trading in micro it could be as low as .10 per pip....that gives you alot of wiggle room...you just have to trade one lot at a time,it may take some time but it can be done....and if you can be at your computer from 6am-11am thats all you need
Whatever you choose i hope it works out for you and let me say thank you for your service to this great country we live in.....
God bless America and no place else
[sorry but thats a great line from a funny ass movie]
Rick honestly you can open a mini with 1k and be good to go....i mean at $1 per pip or at other sites trading in micro it could be as low as .10 per pip....that gives you alot of wiggle room...you just have to trade one lot at a time,it may take some time but it can be done....and if you can be at your computer from 6am-11am thats all you need
Whatever you choose i hope it works out for you and let me say thank you for your service to this great country we live in.....
God bless America and no place else
[sorry but thats a great line from a funny ass movie]
i have to agree the track record with forex.com can't be beat, and you seem to have no trouble money wise with them for a couple years. i have also been using the MT4 platform beacuse i really like their charts and how much you can customize them and add in custom indicators, etc. however, when using your sytstem of DMI crosses, i still look at forex because MT4 DMI's do not line up the same as forex.com. it must be because MT4 has differentopen and close times for their candles??? (forex 4hr candles close at 3, 7, 11, 3, 7, 11... where MT4 close at 9, 1, 5, 9, 1, 5 i think)
nice trade this AM buck
i have to agree the track record with forex.com can't be beat, and you seem to have no trouble money wise with them for a couple years. i have also been using the MT4 platform beacuse i really like their charts and how much you can customize them and add in custom indicators, etc. however, when using your sytstem of DMI crosses, i still look at forex because MT4 DMI's do not line up the same as forex.com. it must be because MT4 has differentopen and close times for their candles??? (forex 4hr candles close at 3, 7, 11, 3, 7, 11... where MT4 close at 9, 1, 5, 9, 1, 5 i think)
buck, one thing i was trying to figure out is how you confirm a cross will happen because if you want to trade a cross you should probably do it before the actual cross happens or else it will be too late, is that right?. i've been tricked a couple times by what looks to be a cross coming, but then when the 4hr block closes out the cross is rejected and doens't happen
buck, one thing i was trying to figure out is how you confirm a cross will happen because if you want to trade a cross you should probably do it before the actual cross happens or else it will be too late, is that right?. i've been tricked a couple times by what looks to be a cross coming, but then when the 4hr block closes out the cross is rejected and doens't happen
You know Pop ive stated that several times.....i dont understand how the charts dont look the same on other platforms....even when you set the up the same way the lines just arent right....even with different closing times shouldnt they be the same?
I dont know and really dont care ive found something that works on a site thats been around for as long as anybody else with more $$$ being traded on their platform than any other site...that has to stand for something
Maybe i have a bias having learned on this platform but i really think its one of the better ones out there good luck in your search fellas but im telling ya this is where its at
You know Pop ive stated that several times.....i dont understand how the charts dont look the same on other platforms....even when you set the up the same way the lines just arent right....even with different closing times shouldnt they be the same?
I dont know and really dont care ive found something that works on a site thats been around for as long as anybody else with more $$$ being traded on their platform than any other site...that has to stand for something
Maybe i have a bias having learned on this platform but i really think its one of the better ones out there good luck in your search fellas but im telling ya this is where its at
there is no way to confirm if its going to cross for sure Pop....the only thing you can do is make sure the 1hr@2hr charts are in your favor with the 4hr...and again ive been trying not to trade the down crosses when DMI is below 30 or the up cross when the DMI is above 70 just because theres not much room for the follow through
I mean if the +DMI is in the 20s and youre getting a sell cross how far can it drop when its that low to strt with?This morning just had 1hr 2hr 4hr charts all lining up perfectly...
there is no way to confirm if its going to cross for sure Pop....the only thing you can do is make sure the 1hr@2hr charts are in your favor with the 4hr...and again ive been trying not to trade the down crosses when DMI is below 30 or the up cross when the DMI is above 70 just because theres not much room for the follow through
I mean if the +DMI is in the 20s and youre getting a sell cross how far can it drop when its that low to strt with?This morning just had 1hr 2hr 4hr charts all lining up perfectly...
You guys have no reason to believe this but I averaged up on the short EU and the long CHF when I made the post last night. Got short another of the EU at 1.296 and long another contract of CHF at 1.15.
Woke up this morning and saw the reversal and covered/sold them all.
Net result is funny money acct at 14,000 now.
You guys have no reason to believe this but I averaged up on the short EU and the long CHF when I made the post last night. Got short another of the EU at 1.296 and long another contract of CHF at 1.15.
Woke up this morning and saw the reversal and covered/sold them all.
Wall if you still like the chart theres no reason not to average
I had a trade a few weeks ago in EUR/GBP go against me and im sure those who just casually read through these threads think im full of shit but if the chart doesnt take a turn for the worse why would you bail on a trade...ive averaged alot and its only come back to bite me a few times and of those had i just held out a few more days/hrs i woulda been fine in a few of those....USD/CAD was one of the big ones that i remember.....how long did you hold that CHF trade......PATIENCE DANIELSON
Wall if you still like the chart theres no reason not to average
I had a trade a few weeks ago in EUR/GBP go against me and im sure those who just casually read through these threads think im full of shit but if the chart doesnt take a turn for the worse why would you bail on a trade...ive averaged alot and its only come back to bite me a few times and of those had i just held out a few more days/hrs i woulda been fine in a few of those....USD/CAD was one of the big ones that i remember.....how long did you hold that CHF trade......PATIENCE DANIELSON
When I was at that other account I held a trade for a week or more, maybe two weeks..or three? They worked out but of course I was way under water..which really tells me that the KEY to success with this is liquidity..have enough ammo out there to handle drops because it is RARE that these trades work out perfectly without some pain first.
This CHF trade actually only opened on Friday and closed today, so not that long. The EU short was on Thursday.
It is tough..I think stops kill traders, but stops also SAVE traders..you never know if that one time you hold that trade that the trend hasnt changed and you wont be CRUSHED. I think about that regularly that it is reckless to hold without some sort of stop..and now I use those mental stops where if my profits got cut to an X level I would probably pull the plug.
I think what we have going for us is that we use those technical indicators which reduce the risk..it doesnt eliminate the risk just puts the odds more towards our favor. I have to force myself not to trade outside the technical indicators. The EU short was early technically, the CHF was early technically..but it worked out luckily.
Since starting however long ago I would be up near 50k now..
buck,
Exactly..
When I was at that other account I held a trade for a week or more, maybe two weeks..or three? They worked out but of course I was way under water..which really tells me that the KEY to success with this is liquidity..have enough ammo out there to handle drops because it is RARE that these trades work out perfectly without some pain first.
This CHF trade actually only opened on Friday and closed today, so not that long. The EU short was on Thursday.
It is tough..I think stops kill traders, but stops also SAVE traders..you never know if that one time you hold that trade that the trend hasnt changed and you wont be CRUSHED. I think about that regularly that it is reckless to hold without some sort of stop..and now I use those mental stops where if my profits got cut to an X level I would probably pull the plug.
I think what we have going for us is that we use those technical indicators which reduce the risk..it doesnt eliminate the risk just puts the odds more towards our favor. I have to force myself not to trade outside the technical indicators. The EU short was early technically, the CHF was early technically..but it worked out luckily.
Since starting however long ago I would be up near 50k now..
Wall....worst trade for me was a short on USD/CAD i cant remeber my price down to the pip exit/entry but i shorted around mid 1.25s it moved against me big and i got my average up to 1.27ish...it kept going and i watched and the charts kept getting worse....it got to the upper 1.28s then came back down to low 1.27s and the daily really turned on me so i bailed it reached a high of about 1.30....two days later 1.22.......
Ive had trouble letting go of trades but ive only been burnt a few times,theres really no way to tell how things are going to go since so many things can influence the market....i mean if youre in EUR/JPY shrt and an oil refinery get taken out by a storm or terrorist act youre fucked....just keep firing bullets baby
I guess im not as worried about taking a loss at this point im playing with their $$$$....
Wall....worst trade for me was a short on USD/CAD i cant remeber my price down to the pip exit/entry but i shorted around mid 1.25s it moved against me big and i got my average up to 1.27ish...it kept going and i watched and the charts kept getting worse....it got to the upper 1.28s then came back down to low 1.27s and the daily really turned on me so i bailed it reached a high of about 1.30....two days later 1.22.......
Ive had trouble letting go of trades but ive only been burnt a few times,theres really no way to tell how things are going to go since so many things can influence the market....i mean if youre in EUR/JPY shrt and an oil refinery get taken out by a storm or terrorist act youre fucked....just keep firing bullets baby
I guess im not as worried about taking a loss at this point im playing with their $$$$....
I dont see much chart wise that looks good, anyone else?
Keep an eye on AUD.CDN, all technical indicators have stalled for about a week, might be a huge move on the upside if they can turn it technically.
buck, exactly..that is so crucial having enough powder to average down two or three contacts if needed. I bet MOST traders leverage too much, try to trade bigger and more contracts than they should, not leaving capital to take a loss or average down.
I dont see much chart wise that looks good, anyone else?
Keep an eye on AUD.CDN, all technical indicators have stalled for about a week, might be a huge move on the upside if they can turn it technically.
buck, exactly..that is so crucial having enough powder to average down two or three contacts if needed. I bet MOST traders leverage too much, try to trade bigger and more contracts than they should, not leaving capital to take a loss or average down.
I had an order in on that LB trade and the spread was like 10 pips, so even though the price went below my order it didnt fill due to the spread, now it is 80 pips higher.
I did put some GTC lines in the water on- EU.US long, CHF.JPY long..will list if I get filled
I had an order in on that LB trade and the spread was like 10 pips, so even though the price went below my order it didnt fill due to the spread, now it is 80 pips higher.
I did put some GTC lines in the water on- EU.US long, CHF.JPY long..will list if I get filled
(from fxdd)---- The US Conference Board Consumer Confidence for February will be released at 10:00 AM. The expectation is for the index to fall to 35 from 37.7 last month. This was the lowest level on record for the index. A lower stock market, higher unemployment, and lower home prices should continue to weigh on consumer sentiment. This should be negative for the dollar. However, the bad news may already be discounted in the market.
(from fxdd)---- The US Conference Board Consumer Confidence for February will be released at 10:00 AM. The expectation is for the index to fall to 35 from 37.7 last month. This was the lowest level on record for the index. A lower stock market, higher unemployment, and lower home prices should continue to weigh on consumer sentiment. This should be negative for the dollar. However, the bad news may already be discounted in the market.
how many pairs do you guys review?? i find it almost overwhelming/confusing to look at charts and follow the majority of the pairs available. i think focusing on the top 5-6 (maybe even 2 or 3 when learning at first) would be benificial to me.
how many pairs do you guys review?? i find it almost overwhelming/confusing to look at charts and follow the majority of the pairs available. i think focusing on the top 5-6 (maybe even 2 or 3 when learning at first) would be benificial to me.
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