bulkbiz: u mean the one from friday trade? check 3rd post.

Hi Guys, newbei here. any 1 trading EUR/US on M1 chart?

Is ok bro, someone send to me already in forex factory. tq

Raymondetc: not recommend trading at M1, unless u will be in front of pc 24/7 or u r one of those full time forex trader. but if one really did great at M1. it is one of faster way farming money from forex

i myself frequently on M1, just for shorting. sometimes to compare n analyze current situation.

This post has been edited by Invince_Z: Feb 22 2010, 09:06 PM

m1 is risky unless u are doing scalping, or take m1 to find for a good entry point for your trading

Don't bother using it because its tested to wipe your account if trend goes against you.

You can try ask FFF programmer to code it for you FREE

Shorted GJ with the kauness.

Let's wait and see if China surprises.

Got.. it's called the Horizontal Line... come on.. don't be so lazy. I can understand if you need an indicator to help you calculate pivot points and fibo quickly but it doesn't take long just to change the timeframe and draw in the lines.

Thank you Minimayo & Invinci_Z for the feedback.
Yes, understand M1 is very risky & stressful & time comsumming. Am trying scalping and guerila. i have the time as i'm unemployed at the moment. learning to control my stress, emotion & patience.

Any secret weapon on your arsenal for M1?
Cheers

The Reality about Leverage

Leverage has become a scapegoat for poor risk management in trading. I feel as if leverage is being blamed more and more without anyone taking a moment to think what the real problem is. First, let's take a step back for those of you who don't know what I am talking about. For the purposes of this article, we will assume "leverage" refers to trading, specifically forex trading.

Leverage is the amount of currency one can control relative to the amount of capital one has. That's it. In forex, most traders have 100:1 leverage. That means for every one dollar of capital a trader has, they can control one hundred dollars. At first glance, it is not hard to see why that ratio could scare someone who hasn't had much experience with forex. I have seen and heard all sorts of theories that basically refer to leverage as the devil. Some go so far as to say that leverage should be abolished completely. Now let's look at the reality of the issue.

Let's say that a trader has $10,000 in their account, and they trade with a $10,000 lot size (or mini lots). Let's also say that their maximum leverage is reduced to only 10:1. Now let's say the trader wants to buy the GBP/USD. The highest number of mini lots they could buy at present prices would be 6. That means that each pip would be worth $6 if they traded the maximum amount of GBP/USD they could. Let's say that the trader's plan calls for a conservative risk of 3% per trade. In other words, the trader is willing to risk $300 (3% of their equity) on a given trade. This means that they would be unable to risk their full amount unless the trade called for their stop to be at least 50 pips from their entry.

Now, many readers will probably be ok with that. However, consider that the trader in the above example has maxed out their capital. In other words, they would not be able to enter another position until that trade (or at least part of the trade) is closed out. Furthermore, there are plenty of traders out there that have tighter stops than 50 pips in their strategy. If leverage was eliminated completely, keep in mind the trader above would have to have a distance of 500 pips from entry to stop to be able to max out their 3% risk. That would eliminate most strategies.

Therefore, it is easy to see that leverage is essential to most strategies in the forex market. If leverage did not exist, it would be very difficult to take advantage of every trading opportunity. I am not endorsing maximizing leverage and taking a ten full lot position in the USD/JPY with a $10,000 account. That would be unreasonable. But the issue isn't leverage, it is poor risk management. High leverage only reduces the amount of capital required to have a given position. I could trade with 100:1 leverage or 100,000:1 leverage and I would risk the same amount. The only difference is the amount of capital required to take the position. I would never need 100,000:1 leverage (no one would), but it wouldn't be any riskier than 100:1 if you used proper risk management.

In my mind, proper risk management means planning our entry and exits before placing any trade. Only after identifying the distance between the entry and the stop should a trader determine their position size. The position size should be adjusted so that the trader is able to risk the same amount on each trade. This process is discussed in further detail here .

The point is that leverage is not the enemy. If a trader plans their trades so they are risking a small amount of capital on each trade, very high leverage will not have a negative effect. However, low leverage (or no leverage) could severely limit a trader's potential of success because the trader may not have enough capital to enter a full position and/or multiple positions at the same time. Keep in mind I am not talking about huge positions, we are talking about the ability to risk 3% of one's account. In closing, remember that with proper risk management and trade planning, leverage is a tool that is there to help you.

Source: fx360.com

I am not using any pivot points and fibo. I just want to know the exact yesterday's closing price for fun.

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Added on February 23, 2010, 11:40 amI am still in long position, about to cut loss, and reverse shorting it

This post has been edited by bulkbiz: Feb 23 2010, 11:40 AM

Why short GJ?

Mama mia to E/U wat happened? whne up so high..

Is it not look like euro movement but usd.

I wont recommend M1 for a beginner... but as long as you practice good money management..i dont see why not either.
I stumble upon this thread when trolling ff.. system looks good for 1 minute in my humble opinion..

http://www.forexfactory.com/showthread.php?t=156106

Weak fundamentals, and wave / fibo TA to support trade.

Eur/Jpy chart http://tweetphoto.com/12258412

thanks to GregaHorvatFX


p/s prefer short in this case :-)

so far so good

EJ -bear
EU -bear
GU -bear
UJ -bull

trailing stop at 150 pips ...go to sleep

GJ, hope you can give me good return this trade

Long eu with kauness