Forex (EUR/USD)

[Chemmie78]

I think ts lost heavily with his long only strategies over the past few days and disappeared leow throttle ass is right as usual

[Good-Carbuyer]

I think ts lost heavily with his long only strategies over the past few days and disappeared leow throttle ass is right as usual

I believe as long as trading against brokers who are market-makers. It is more difficult to gain for most of the time. I believe as soon as can meet the requirements, trade through ECN brokers. They charge commissions, but no conflict of interest with us if we gain or loss in our trading. Market-makers, they gain more if we lose.

City Index and GFT are the ones repeatedly sounding me to trade through them as market-makers.

[Sunlight]

You got the point. You are right. It seems that most trading currency (including George Soros) stopped for one reason or another, or take a break. Must be tedious work. I believe most people would be happy to consistently achieve half that sum (bad health can be the resultant).

FX trading is siong. I trade part time with super small lots with EUR/USD, sometime AUX/USD, already

[Good-Carbuyer]

FX trading is siong. I trade part time with super small lots with EUR/USD, sometime AUX/USD, already

I believe because we trade with the brokers who are the market-makers as counter-party. There is conflict of interest.

[Filtered]

Can try MBT. They are ECN brokers with good spreads for the majors. Only downside is they are nt based in SG

[Sunlight]

anyone trade in AUX/USD this week? It drop $55 in 2 days. Now floating loss big big

[Chemmie78]

anyone trade in AUX/USD this week? It drop $55 in 2 days. Now floating loss big big

 

I give up trading FX leow....losing and losing...maybe TS lose until his pants gone, that's why no longer here

[Sabretan]

LOL...floating loss big big is a dangerous play. Ask urself this, are u thinking it will rebound n I can at least min my loss or break even....This kind of hope is dangerous. I m guessing u either don't have a stop loss or abandoned ur stop loss when things turn against u.

 

But I got to admit Friday was a nightmare even for more. After two consecutive losses w my system, I decided to stand aside as it was Friday n European market was closing. Key things to remain in any trading markets (to be honest, Fx is e most tricky n I never doubted that u r always trading against ur Broker/MM), is to maintain a healthy Follow thru (aka money management, risk rewards watever), so that ur acct live to trade another day.

 

but to be honest, u really need discipline for trading. Plan ur trade, wait 4 setup, enter upon trigger, set stop loss n take profit. Go and enjoy ur day. As long as I do that, I usually end up profitable for the month, but if I backside itchy (humans tend to like gambling), and trade manually, I will usually lose money coz I do wat almost 90% of the other traders do....Buy @ top n Sell @ bottom..LOL or at most a few pips from top n a few pips from bottom.

 

So I learnt to trust my self developed system coz it was developed to suit my temperament n backtested to be profitable over a 3 years data testing n 1 yr demo trading n 1 year live trading.

 

So for newbies or novice, unless u r a born trader, trading pyschology is more important than a trading system or any other hocus pocus.

[Chemmie78]

LOL...floating loss big big is a dangerous play. Ask urself this, are u thinking it will rebound n I can at least min my loss or break even....This kind of hope is dangerous. I m guessing u either don't have a stop loss or abandoned ur stop loss when things turn against u.

 

But I got to admit Friday was a nightmare even for more. After two consecutive losses w my system, I decided to stand aside as it was Friday n European market was closing. Key things to remain in any trading markets (to be honest, Fx is e most tricky n I never doubted that u r always trading against ur Broker/MM), is to maintain a healthy Follow thru (aka money management, risk rewards watever), so that ur acct live to trade another day.

 

but to be honest, u really need discipline for trading. Plan ur trade, wait 4 setup, enter upon trigger, set stop loss n take profit. Go and enjoy ur day. As long as I do that, I usually end up profitable for the month, but if I backside itchy (humans tend to like gambling), and trade manually, I will usually lose money coz I do wat almost 90% of the other traders do....Buy @ top n Sell @ bottom..LOL or at most a few pips from top n a few pips from bottom.

 

So I learnt to trust my self developed system coz it was developed to suit my temperament n backtested to be profitable over a 3 years data testing n 1 yr demo trading n 1 year live trading.

 

So for newbies or novice, unless u r a born trader, trading pyschology is more important than a trading system or any other hocus pocus.

 

Very wise words, because of my stop losses, I had not lost money, but I have not made money also....many times i think if i did not kena my stop losses i could have made money but perhaps this is a greater fool's theory...damn it i wish i can profitable on my trades though

[Sunlight]

LOL...floating loss big big is a dangerous play. Ask urself this, are u thinking it will rebound n I can at least min my loss or break even....This kind of hope is dangerous. I m guessing u either don't have a stop loss or abandoned ur stop loss when things turn against u.

 

But I got to admit Friday was a nightmare even for more. After two consecutive losses w my system, I decided to stand aside as it was Friday n European market was closing. Key things to remain in any trading markets (to be honest, Fx is e most tricky n I never doubted that u r always trading against ur Broker/MM), is to maintain a healthy Follow thru (aka money management, risk rewards watever), so that ur acct live to trade another day.

 

but to be honest, u really need discipline for trading. Plan ur trade, wait 4 setup, enter upon trigger, set stop loss n take profit. Go and enjoy ur day. As long as I do that, I usually end up profitable for the month, but if I backside itchy (humans tend to like gambling), and trade manually, I will usually lose money coz I do wat almost 90% of the other traders do....Buy @ top n Sell @ bottom..LOL or at most a few pips from top n a few pips from bottom.

 

So I learnt to trust my self developed system coz it was developed to suit my temperament n backtested to be profitable over a 3 years data testing n 1 yr demo trading n 1 year live trading.

 

So for newbies or novice, unless u r a born trader, trading pyschology is more important than a trading system or any other hocus pocus.

yes i backside itchy and ignored my plan and entered this trade.

I have learnt not to expect much from FX and my plan is to make 10% per month and stop.

Edited June 25, 2011 by Sunlight

[Chemmie78]

yes i backside itchy and ignored my plan and entered this trade.

I have learnt not to expect much from FX and my plan is to make 10% per month and stop.

 

10% per month, what's your capital?

[Sunlight]

10% per month, what's your capital?

small small. too shy to say, i make just few dollars a day

 

[Sabretan]

10% per month of ur capital?

 

Actually this is quite easy. Question is once u have make 10% will u stop trading 4 e month or itchy backside go in again n kanna whipsaw?

 

I know of many scalpers who made 10% easily, ok quite stressful to me I think, coz they playing w 5 min time frame n really got to go in n out very fast for profit like 10-15 pip w mental stop loss of 10-15. I can never do it w mental stop loss. But only those with very discipline n relatively lack of emotional traders can do it consistently.

 

 

[Chemmie78]

small small. too shy to say, i make just few dollars a day

 

me too, just aim to make 40 dollars per trade...haha....but even 40 dollars also hard to make!

[Sabretan]

I know how u feel, coz sometimes my trades end up like that as well. It stopped me out b4 moving in my direction like for 100-150 pips...But after a while u get used to it as part n parcel of trading. So I have developed this mantra

 

"You can't win them all, juz need to win overall."

 

But if u keep getting ur stop loss all the time, that means u r using a stop loss strategy that is too tight or too common (means a lot of people set stops like u n this attracts the MM or BB to hunt them down, which is why u usually see after ur stop loss is hit n maybe exceeded by 10-20 pips, it reverse n go in ur original direction).

 

Advise: to make money u got to think different from 90% of the traders out there.

 

 

Most successful traders usually don't have a high win loss ratio, but they got a good RR system n good money mgmt system. That's why they can outlast n win.

 

 

[Sabretan]

$40 per trade?

 

Mini or std lot? Mini lot more difficult coz u will be aiming for 40 pip, std lot only 4 pip which put in a very bad Risk Reward trade.

 

 

Well if it is any consolation, I lost abt 2000 dollars, (so u r better than me, coz u have not lost) b4 I start to make money. That $2k was tuition fee for learning that methods that are taught out there are not good enuf (kinda of feeding the MM/BB) n of coz for me to learn abt my weakness n strength in trading the market. I think $2k used this way is definitely more worth it than paying someone else 2-3k to teach u to trade n u got to spend some more money losing to learn n gain exp the hard way.

 

 

 

[Chemmie78]

I know how u feel, coz sometimes my trades end up like that as well. It stopped me out b4 moving in my direction like for 100-150 pips...But after a while u get used to it as part n parcel of trading. So I have developed this mantra

 

"You can't win them all, juz need to win overall."

 

But if u keep getting ur stop loss all the time, that means u r using a stop loss strategy that is too tight or too common (means a lot of people set stops like u n this attracts the MM or BB to hunt them down, which is why u usually see after ur stop loss is hit n maybe exceeded by 10-20 pips, it reverse n go in ur original direction).

 

Advise: to make money u got to think different from 90% of the traders out there.

 

 

Most successful traders usually don't have a high win loss ratio, but they got a good RR system n good money mgmt system. That's why they can outlast n win.

 

Thanks, I have been trading fx for 3 years and not much success.....but also thankfully no capital loss....then i read yeo keong kee's book on trading psychology and it all makes sense....however somehow I can't bring myself to the level of consistently making so stop first until i get my mind right...however besides the few so called gurus i am not sure if anyone else can make a living out of trading fx and not conducting seminars for fx

[Good-Carbuyer]

Thanks, I have been trading fx for 3 years and not much success.....but also thankfully no capital loss....then i read yeo keong kee's book on trading psychology and it all makes sense....however somehow I can't bring myself to the level of consistently making so stop first until i get my mind right...however besides the few so called gurus i am not sure if anyone else can make a living out of trading fx and not conducting seminars for fx

George Soros?