Posted:
#1
Well ill be around today but will be gone for the next two weeks...going out of town for work then off to Vegas
May forex
Posted:
#7
its all about risk reward in my opinion jewel,
before you enter a trade you should know how much you want to gain, and are willing to lose
set a limit and a stop, and adjust them accordingly.
i usually set my stops for a loss of no more than 50-75 pips
and my limits for 100 to 200
i am an intraday trader though and have never held a position more than 2 days, but i monitor my trades all day long on my blackberry.
good money managment for me means (example): setting my stops for 40 pips and my limits for 160
i only have to win one trade break even, if you go 50% you turn a nice profit.
before you enter a trade you should know how much you want to gain, and are willing to lose
set a limit and a stop, and adjust them accordingly.
i usually set my stops for a loss of no more than 50-75 pips
and my limits for 100 to 200
i am an intraday trader though and have never held a position more than 2 days, but i monitor my trades all day long on my blackberry.
good money managment for me means (example): setting my stops for 40 pips and my limits for 160
i only have to win one trade break even, if you go 50% you turn a nice profit.
Posted:
#8
Well it depends on the roll..so if one trade equals 40% of your "roll" then yeah you gotta cut it short FAST, but say this is a 10% of your capital position and you feel OK adding, Ive RARELY gotten into a position that I didnt need to add a lot to.
Stops are very important like rick is mentioning, but on the flip side, this market chews up stops and spits them out.
I think the USD has been in the crapper a while, it is like second worst I see, the only worse is the Yen.
I think it turns for you, the USD turns and FAST, but if you are down 200 you have to decide if the time demand and money demand is worth it.
I personally wouldnt let go of the trade, in the months Ive traded Ive been down HUGE on some, but none were a monster early in relation to the overall size of my account.
When I fund (probably this week if FXDD gets me my acct info that I submitted on Friday) I will go with a MINI account, even though I can afford a FULL acct based on the deposit, for the reason only that having deep pockets is crucial to success.
Oh and I think the Euro is one of the weaker currencies, maybe number 5 but the USD is number 2 from what I observe.
I sure wish the technicals were more oversold..the 4 hr, daily and weekly arent overheated enough and that is being down 200 pips already.
The only fear I have is that the pair could turn into the CD.Yen pair where a breakout fries shorts and they run it another 200 and fast.
Stops are very important like rick is mentioning, but on the flip side, this market chews up stops and spits them out.
I think the USD has been in the crapper a while, it is like second worst I see, the only worse is the Yen.
I think it turns for you, the USD turns and FAST, but if you are down 200 you have to decide if the time demand and money demand is worth it.
I personally wouldnt let go of the trade, in the months Ive traded Ive been down HUGE on some, but none were a monster early in relation to the overall size of my account.
When I fund (probably this week if FXDD gets me my acct info that I submitted on Friday) I will go with a MINI account, even though I can afford a FULL acct based on the deposit, for the reason only that having deep pockets is crucial to success.
Oh and I think the Euro is one of the weaker currencies, maybe number 5 but the USD is number 2 from what I observe.
I sure wish the technicals were more oversold..the 4 hr, daily and weekly arent overheated enough and that is being down 200 pips already.
The only fear I have is that the pair could turn into the CD.Yen pair where a breakout fries shorts and they run it another 200 and fast.
Posted:
#9
Thanks rick. I've usually always stay close, like you do. This one though I finally decided to try to let it ride out, and not bail out after 10 pips. I, of course, picked the wrong time to do it. I'm just so far in it now, I don't know what to do. I'll not do another one without a stop though. There's just WAYYYYY more to this than I think I can handle. I've always been good with math and numbers, but I don't know about this....
Posted:
#11
Guys
Got something I just dont understand. On my 4 hr charts I see gaps from one block closing to the next one opening. Im not talking about over the weekend but thru the week.
I cant figure out how there can be a gap of 50 60 70 some pips when there is NO time between one block closing and the next is opening. Example is: EUR/USD 4/28 close on 8am to 12pm block is 1.3061.......... Now the open on the next block starting at 12pm is 1.3121.....60 pips. I thought that there was no time between these two blocks. One closes and 1 sec later the next one opens. How can it move 60 pips in 1 sec ??
Its probably my dumb ass not reading the chart right. But can someone please explain this to me ????
Posted:
#12
When you are seeing those sticks, it is better to look at a 1-5 minute chart and scroll back to the time period you are wondering about.
Man the Eu.USD is spiking strong here..looks like the Euro in general is spiking, up 100 pips versus most counter pairs.
It is tough to scroll back a week using a 1-5 minute chart, it would be best done with the markets closed, with my Meta4 chart it keeps popping forward.
Man the Eu.USD is spiking strong here..looks like the Euro in general is spiking, up 100 pips versus most counter pairs.
It is tough to scroll back a week using a 1-5 minute chart, it would be best done with the markets closed, with my Meta4 chart it keeps popping forward.
Posted:
#15
Now that my acct is live I actually get to see news, here is one that I found interesting tonite-
The question is are we now in the second phase of positive investor sentiment, where the move becomes a general exit from the USD to riskier assets, rather than the cross move that we have seen to date, or is Golden Week changing the short term dynamics of the market. We tend to favour the latter explanation, but if the real money players decide that the time is right to commit funds, a significant USD move could be in the wings.
The question is are we now in the second phase of positive investor sentiment, where the move becomes a general exit from the USD to riskier assets, rather than the cross move that we have seen to date, or is Golden Week changing the short term dynamics of the market. We tend to favour the latter explanation, but if the real money players decide that the time is right to commit funds, a significant USD move could be in the wings.
Posted:
#19
Wall
I knew something was screwed up yesterday on my charts with forex.com. Called them and they cant fix it. Buc looks at the same charts I do. I wonder if he is having the same problem. Do you or anyone else on here use forex.com charts V1.0 like Buc and myself ?
I want to get a forex chart service that I can rely on and be able to view these dmi lines and crosses any suggestions ??? thx
!!!!!
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