I only trade GU...

always burn my fingers with gu.. i think i stop trading gu

Can we open trade for more than a day... Any extra cost will be charge?

U ll incur interest/swap
The rates depends on your broker.

But bro, isnt' it risky opening with a smaller sum of money? With the leverage and all.

This post has been edited by The Corre: Feb 4 2011, 11:36 PM

Size dont really matter ... the money management strategy matters ...

anyone trade Gold recently? i have been holding it -ve since 3 days ago...

darn, close the pc coz have to attend kenduri, come back open terminal. my short hit SL but now it is below my TP. what a waste..

updated ,

usually , i will close all my trades during NFP storm , but i can't make it as all my opening trades are still in red pips

currently i'm waiting for next week trade to overcome all my trading as image attached

i have closed my sell trade on EUR/AUD and waiting for next short ...

scary right ? and i'm try to maintain the emotions

Closed with a small profit.... waited too long...

[attachmentid=2029367]

bro, i'm amazed by your holding power, but i've got a question for you, how do you get the confidence that the trade will finally go with your direction ?

i got trade GOLD and Silver and i hold my position, but for currency i dont dare to hold.

i know that the turning point in the weekly chart is very important, but even it remain bullish at weekly, it might turn the other way round. At the beginning of the trend it's not that risky, but right now it might be the end of the trend since it's almost 800pips move for EU.

My Trading Terminal show no connection today. Normally it will connect just only after I open the application.

Any idea why?

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Added on February 5, 2011, 7:41 amBut when I open my Demo Account it have connection...

This post has been edited by Deani_77: Feb 5 2011, 07:41 AM

markets is off d, saturday d bro....go out get some life

First week on Trader Account... Din't really noticed their schedule. So... It will be on back on Monday ler...

Anyway... Happy weekend to all traders...

i have pair correlation on all pairs below

GU GJ EU EJ

in order to maintain my trading , i need to verify whether the weekly (W1) or monthly (MN1) chart on my side or against my side

if W1 chart within my side , i will need to check MN1 chart

for instance , current trade setup is long (bull)

if W1 bullish but MN1 bearish , i will close my trading and waiting for next candle movement.
if W1 bullish and MN1 bullish , i will maintain bull trading until next candle to verify next movement

if W1 bearish but MN1 bullish, i need to wait for the next candle to verify next movement , also to put more long trade to counterattack ;-)
if W1 bearish and MN1 bearish , i will close my trading and start to setup short trading

This applies to short trading too

fyi , it is all abt W1 and MN1 chart , as i'm trading with lot which equals with my money mgmt
e.g 2 dolar per pips or 1 dolar per pips

if i wanna do short-term trading (TFH1&TFH4), i will need to open chart with Elliot wave count and trendline too:-)

Bro,
200% free margin indeed is scary
Another thing, you have a free swap account?

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Added on February 5, 2011, 10:06 amJust noticed you re using Monthly and Weekly chart.
Wouldnt it be very risky considering 200% free margin and the range of monthly and weekly can be huge before a trend is confirmed?

This post has been edited by maxforce: Feb 5 2011, 10:06 AM

then i guess you just use cut loss strategy ? so far have you encountered any significant drawdown before ?

the other day i couldnt sleep for 2nights coz my gold went negative 700 USD.....damn stress
ability to take the fluctuations is a major factor in being the 5% of the winning group

i tried to trade the open market time always lose money, guess i'm more suitable to trade H1 and above.

Kevler got a nerve of steel ... unlike me .. unable to hold position outside market hours ... I open position when London open .. close all before London close ... hehehe ...

By the way ... for anyone holding Gold ... gold is bearish because as you see ... stocks indexes are showing good gains ... oil is getting higher (showing good economy). this mean investors are no longer risk-averse ... they dump gold and USD and buy risky instruments like stocks .. US economy is also shwoing good signs .. USD get weaker (from dollar index)..

Holding losses or just holding overnight is dependent on:
1. Trading strategy
Say you use H1 chart, then chances for the movement to give a full swing may go to several days.
2. Money management
This depends on your account size, how much are you allocating for each position
3. Risk reward
Say your maximum is USD700 loss, so your maximum gain targeted should be in theory, USD1400 at least.
4. Fluctuation allowed
This relates slightly to (1) above, ie how much fluctuation is considered to be noise, how much is actual movements, etc.

Do take note, that this is only my personal view - from technical way of trading's perspective.

Good points ...

Just to add .... it's important to choose a method with risk parameter that suites you ...

For example ... some people think daytrading strategy like mine (only trade during London market.. close all before London close) is easier than
buy and hold (for many days) strategy ... this is all relative ...

When I trade ... I run-up my effective leverage up to 1:50 to 1:250 (1:500 is the max my broker offers) .. I do this every trading day ... is this too much risk ? Maybe yes, maybe no .. but it certainly works for me ...