This problem is because you open a position without thinking about where to exit.

Think exit first and then look good entry that fits 1:2 ratio. which means if you are confident that the exit is achievable .. just look for an entry that can give u 1:2.

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Added on February 6, 2011, 6:18 pmPerhaps what u looking for is a trading system discussion thread. Seems simple but the quality of the system is questionable.

This post has been edited by luqmanz: Feb 6 2011, 06:18 PM

do u know where i can find it ? and maybe u can teach me ? plss..

Margins used is only 50% ... still got room ...

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Added on February 6, 2011, 6:37 pmTheres a lot of forum for you to get started. Just Google ...

This post has been edited by luqmanz: Feb 6 2011, 06:37 PM

it seems like gold/dollar got momentum to go up, maybe this is the best time to take long position...

My attempt to resolve some of the issues:
1. Scam brokers
Same like all things, there are scams. Even buy any products eg beauty products also got scam. Agreed with luqmanz - NFA regulated brokers - which simply means, those who abide by rules and regulations by a governing body - same thing with food products imported by US are regulated by FDA, or like our own SIRIM mark etc.
Myself, using IBFX but with US, as that time, they did not have IBFX Australia and I m still too lazy to make the clicking to switch to IBFX OZ.

2. Risk reward ratio 1-2
Depending on your strategy. In my earlier years of trading, I ve used before risk reward ratio of 1-1. I ve also used R/R 1-5, etc etc.
At the end of the day, RR 1-2 is a general guide. It really depends on what you re most comfortable with.

3. Starting up.
FOr those who interested to start, few things to learn:

a. The mechanics of the platform - download demo version from brokers like IBFX or Oanda or any other which you like.
b. Know the difference between fundamental approach and technical approach. Resources like investopedia may come in handy.
c. Within the fundamental or technical, there are many methods and techniques available. Some prefer this method, some prefer that method.
d. Know that there is no shortcut. No one can provide the quick fix DIY. Forex is probably the most liquid and its movements the most volatile. Many big hedge funds and government are into it as well. We re playing the field with players with such buying, selling, holding power. Suffice to say, on paper, it will look like we do not stand a chance.
The shortest cut, so to speak would be:
i. Join and attend seminar - those 2-3 days seminar for your first background introductory. Cost: Probably in the region RM5K - RM10K. I have no idea, as I have not attended one myself and am not too sure of current market rate. Do not expect to make $$$ immediately after attending seminar. Not possible.
ii. Read and explore the ideas and methods and see which is suitable for you.
iii. Test it out in DEMO version. See if it will even work in theory.
iv. Test with real money. Yes, test. LOLz. 99% of ppl will lose the money, hence test
v. Keep trading and improve on your skills.
vi. Dont forget to have fun

Good Luck and Happy Trading!

I am newbie and i trade with 1000:1 leverage

This post has been edited by imax80: Feb 6 2011, 08:18 PM

maybe coz all his capital are all profits, so there is no harm or 'sakitness' in drawdown ?

my margin level is in 3000% region, i trade too small d.....

do any of you know any good malaysian forex traders?

no worries bro . i will take it as compliment

yes, i know

who? who?

London opening in hmm .. maybe 2 hr 20 min ...

 Statement.htm ( 39.58k ) Number of downloads: 57


as promised , monthly statement for January

again , this statement is to motivate members in this thread , show-off not included

thats how you use pivots..70pips cable and counting

London in 23 min ...

can't wait for London calling !

Just upload the statement on myfxbook.com kevler ... easier that way .. got alot of statistics as well ... and its a verifies the authenticity of your account... investors will be more confident that way ...
people can just click and see your performance ... for example see my signature ...

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Added on February 7, 2011, 3:46 pmyup pivot is the king ...

This post has been edited by luqmanz: Feb 7 2011, 03:46 PM

well done brother... your way off target from the 30% permonth...that 66%!
if no withdrawal.. you be a millionair in 7 month..

haha :-) it depends on the market too ..

hope somebody from all of us , will be the next Warren Buffet

like from Wall Street 2 film

"Bull Makes Money , Bear Makes Money ..and Swine get Slaughtered .."

Thanks u ... but last month was strangely good ... dunno if it will happen again .. hehehehe