I haven't touched forex in over a week, decide to play around this morning. Looked at the charts, USD/JPY sell looked pretty good. Sold at 96.67 and it's now currently at 97.22.
Lost 55 pips already
I rarely give up in these things, but I've lost close to $400 since I started. Maybe I should just stick to sports wagering
To remove first post, remove entire topic.
I haven't touched forex in over a week, decide to play around this morning. Looked at the charts, USD/JPY sell looked pretty good. Sold at 96.67 and it's now currently at 97.22.
Lost 55 pips already
I rarely give up in these things, but I've lost close to $400 since I started. Maybe I should just stick to sports wagering
I was stuck most of the day yesterday and ended up profiting on two tough positions.
Was down 130 pips on AUD/Yen and it reversed and made 1k on the two contracts, also was down 80 pips on LB/Yen and ended up making 600 on the two contracts. In fact the Lb/Yen contracts would be up another 80 pips if I had held longer.
To me on that Yen chart, if she held 96 it looked like a NO-short. To your help, it looks like severe resistance is about here on a 4 hr chart, it could reverse and go back down.
I was stuck most of the day yesterday and ended up profiting on two tough positions.
Was down 130 pips on AUD/Yen and it reversed and made 1k on the two contracts, also was down 80 pips on LB/Yen and ended up making 600 on the two contracts. In fact the Lb/Yen contracts would be up another 80 pips if I had held longer.
To me on that Yen chart, if she held 96 it looked like a NO-short. To your help, it looks like severe resistance is about here on a 4 hr chart, it could reverse and go back down.
Wooo Hoooo my free account has gone from $25 to $31+ in 3 trades that have lasted a combined 5 minutes. It's just a pain to have to watch these things when you are not in a position.
Wooo Hoooo my free account has gone from $25 to $31+ in 3 trades that have lasted a combined 5 minutes. It's just a pain to have to watch these things when you are not in a position.
Wooo Hoooo my free account has gone from $25 to $31+ in 3 trades that have lasted a combined 5 minutes. It's just a pain to have to watch these things when you are not in a position.
Are you using that Forex acct? 6 bucks means you arent letting these suckers really run. I usually shoot for 35-40 pips per trade.
My account has gone from 50k to 56k.
Quote Originally Posted by jaxwhitey:
Wooo Hoooo my free account has gone from $25 to $31+ in 3 trades that have lasted a combined 5 minutes. It's just a pain to have to watch these things when you are not in a position.
Are you using that Forex acct? 6 bucks means you arent letting these suckers really run. I usually shoot for 35-40 pips per trade.
I think wall makes a good point there in that you have to be patient with each contract. Especially if you're trading off the 4 hour charts... there is a lot of time between each block so the price might fluctuate or go down a bit at first, but if the charts look good, then it should eventually go in your favor.
I am just playing around with a practice account so I'm afforded the luxury of not having to worry or stress about going down real money, but from a lot of the trades I've seen you just have to trust the charts and beleive it will change in your favor.
I think wall makes a good point there in that you have to be patient with each contract. Especially if you're trading off the 4 hour charts... there is a lot of time between each block so the price might fluctuate or go down a bit at first, but if the charts look good, then it should eventually go in your favor.
I am just playing around with a practice account so I'm afforded the luxury of not having to worry or stress about going down real money, but from a lot of the trades I've seen you just have to trust the charts and beleive it will change in your favor.
No not a forex.com account. Its the free account from the site that is a part of that CNBC Million Dollar Challenge BS. I signed up yesterday morning and had $25 in my account by last evening.
I still don't know what I'm doing so I just let it go about 20 pips then cash it out since I don't have a good grip on everything yet.
I just learned a lesson not to look away while I have a trade on, down 20 pips while I was writing this
No not a forex.com account. Its the free account from the site that is a part of that CNBC Million Dollar Challenge BS. I signed up yesterday morning and had $25 in my account by last evening.
I still don't know what I'm doing so I just let it go about 20 pips then cash it out since I don't have a good grip on everything yet.
I just learned a lesson not to look away while I have a trade on, down 20 pips while I was writing this
That EUR/CHF trade flipped in a hurry. I noticed several times in the last few days it has rallied hard between 11 and 12 so I rode it up, came here to look around and when I went back to look at it again, ouch. It was like the last 5 minutes of trading in stocks the last few days.
That EUR/CHF trade flipped in a hurry. I noticed several times in the last few days it has rallied hard between 11 and 12 so I rode it up, came here to look around and when I went back to look at it again, ouch. It was like the last 5 minutes of trading in stocks the last few days.
This EUR/CHF is working well for me today, I think
$25 to $40 in 5 trades now, with one big oops. The last trade I got crazy and bought more than one contract.
I get the general principle of this now, I just need to learn how to read the charts that you guys use. I was just eyeballing the 5 day charts for the pair and looking for recurring trends and hoping they would hold.
This EUR/CHF is working well for me today, I think
$25 to $40 in 5 trades now, with one big oops. The last trade I got crazy and bought more than one contract.
I get the general principle of this now, I just need to learn how to read the charts that you guys use. I was just eyeballing the 5 day charts for the pair and looking for recurring trends and hoping they would hold.
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