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 FOREX | v se7en, the market is very SucKy

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low yat 82
post Nov 19 2010, 12:00 PM

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QUOTE(Volatile369 @ Nov 19 2010, 11:26 AM)
Ic, bt to swing trade to achieve that amount is extraordinary, do u put alot of risk on a swing trade as well?
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i guess d answer is yes n no? XD

it depends on d chart itself. so it varies...

basically, my risk definition is different from others. longer in d market = higher risk . dats y im d swinger guy XD
low yat 82
post Nov 19 2010, 04:41 PM

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QUOTE(CallOfLegend @ Nov 19 2010, 04:09 PM)
I can't help much since i have been trading forex for about a year & half only, i consider myself as newbie as well. And of course i trade in demo, but sometimes i trade real as well. Maybe it's better for u to ask other pros here.

Some advise i can give is do not depend too much on indicators. It's better for u to analyse the chart careful by observing the candlesticks (or bars) whether it's trending or not, of course it takes some time to practice and build up ur experience.

My strategy, I use H1 & H4 chart side by side tile vertically. Indicators on H1: Pivot_AllLevels and floor pivot weekly. On H4:same as H1 with addition of ema 24 and stochastic (5,3,3).

I use H4 to detect trend, H1 as entry by drawing fibonacci retracement. Try to learn fibo, search on Google. Usually for uptrend, draw fibo line from up to down, downtrend the other way around. When price retrace to 61.8, 50, 38.2, or 23.6 % level, try to look for reverse candlestick pattern, such as doji, hammer, etc. If there is any, it provide a good sign for ur entry. For take profit try set at 161.8, but it depends on how u draw the fibo line, or u can try take on the next support or resistance. Stop loss try 50-60 pips from ur open price, but it depends the pair volatility, for high volatility pair such as eurjpy it might not enough, try to set accordingly based on experience. Try practice some time on demo to familiarize with this strategy. Every trade might need to wait about 1 to 2 days before it reach tp, or it reach sl earlier.

Always remember to only open trades that have potential to take profit more than the stop loss.

Money management is the most important in forex, other than to control ur emotion when trading.

If u r trading real, start trading with smallest lot size that ur broker allowed.

Anyway, good luck on ur trading.
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shud i say this is call double screenin? hehehe


IMHO, wat works in higher TF shud work in lower as well. d different will b d TP n SL


edited:
my experience tells me emotion control is more important than anything. well, dats for me smile.gif

dats y i contribute 10% of profit i transfered bc , to church as my appreciation towards God for helpin me to control my emotions


This post has been edited by low yat 82: Nov 19 2010, 04:59 PM
low yat 82
post Nov 21 2010, 01:35 AM

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QUOTE(mphpopular @ Nov 20 2010, 05:20 PM)
Who have the website where you could log into online based charting software?
No installation required

I remember one of the member posted it, but I forgot where is it.
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mph old fren... still trade a? lol....

oanda mayb? not sure la..lol.. MT4 nowadays some company had blocked it..
low yat 82
post Nov 21 2010, 01:13 PM

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QUOTE(Sham903n @ Nov 21 2010, 11:08 AM)
I noticed that the bigger my acct grow, the smaller the volume/lots ive risk... and the less stress/emotion i deal with... but still a long way till I hit my target dream.. hopefully becomes reality smile.gif
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d bigger d acc size they accumulated, d easier one's lettin loose their guard.. hopefully u r not 1 of them. goodluck
low yat 82
post Nov 22 2010, 04:07 PM

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still another 8% to achieve my 100% return for this month~~!!!!


ye haaaa.. SWINGGGG AAA SWINGGGGGG!!!~~ I MUST TRADE SAFE!!!!
low yat 82
post Nov 22 2010, 04:24 PM

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QUOTE(luqmanz @ Nov 22 2010, 04:08 PM)
Kool .... wish I can trade that profitably ... biggrin.gif
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every1 can..lol.

Pray more so daat God blessed one's wit emotion control,intelligent n luck.
low yat 82
post Nov 22 2010, 05:04 PM

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QUOTE(JinXXX @ Nov 22 2010, 04:58 PM)
can i say ... pic of gtfo ? lol smile.gif

congrats man.. yr one of the many unique traders smile.gif
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no m not.. m jus normal trader.

u see, i hav my ups n downs..lol



This post has been edited by low yat 82: Nov 22 2010, 05:08 PM

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