Hi all.. Just want to introduce myself..

Been demoing for more than 2 months and just started live trading one week ago. Been doing OK I guess.

I am concentrating on EUR/USD pair ONLY at the moment, and my trading style is short-term, and my main chart is the EU 5 min chart. I rarely keep any position open more than 2 hours, usually I close after 4 or 5 candles (I want to be able to sleep at night). The main techniques I use is trendline and candle patterns, usually getting profits from retracement of big moves.

I am not 100% comfortable with my technique, still learning.. My primary qualm about how I trade is that my risk is bigger than my gain for each trade. I get most of the trades right, but when I'm right I gain little profit, but when I'm wrong I lose lots of pips.

Hopefully by following this thread I can improve my trading. Looking forward to sharing with you guys.

Here is how I fared in my first week:

fxcm trading station.

Thank you for taking the time to give your opinion.

You are right. When I enter a trade, I only define the stop-loss position i.e risk. Then I will continuously monitor the chart and will exit when I think the move is over. I don't use target price.


During the demo period I tried many techniques, and this is the one that I am most comfortable with where I can see my equity slowly building up over time. I hope it is sustainable, and I think it is, as long as I don't make unnecessary risky trades. Unfortunately, today I screwed up and made two bad trades, losing many pips.

Yes I think you are right. I have been cherry picking, but only the risk side. I don't enter trades where the stop-loss is too high.

I guess now I have to cherry pick potential rewards too.

It is so difficult to be patient though. Emotionally I always want to be in on the action. Scared of missing the boat, etc.

Hi.. Yes I'm a daytrader. My style? I don't know what it is called.

EU just bounced back up off the R1 pivot. Didn't go in when had the chance.. sigh..

I follow the 1% rule too. Never enter a trade where the risk is more than 1% of capital.

EU just tested today's pivot. Going down again.. Will it hold?? Jeng jeng..

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Added on February 17, 2011, 5:10 pmStrong battle at pivot for the retest..

This post has been edited by sabrateur: Feb 17 2011, 05:10 PM

Haha you must be holding short on EU..

Oh man.. the pivot held..

Yay made 3.9 pips today..

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Added on February 18, 2011, 9:14 pmWow EU just jumped ~100 pips.. Was there any news announcement?

This post has been edited by sabrateur: Feb 18 2011, 09:14 PM

Good luck! Happy trading!

Wow EU cut through pivot like knife through butter..

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Added on February 28, 2011, 5:11 pmHappy today.. I made 75 pips!

This post has been edited by sabrateur: Feb 28 2011, 05:11 PM

Your prediction looking good so far..

I deposited to fxcm using credit card a few weeks ago.

My advise, get ready to try a quite a number of times.

Fraud prevention is so efficient nowadays that almost always they will block the first try.

It also depends on the bank that issued the credit card.

The first card I tried, the transaction failed the first time and immediately I get a call from the card centre asking for confirmation whether it was really me who did the transaction. I said yea, they said try again. But after a few tries it still failed.

So I tried my second card (Citibank). First try, failed. Same as the first bank, I immediately get a call from the Citi card centre. I confirmed my identity and they asked me to try again. The next time I tried, the transaction went through.

Bank charges are the same as if you purchase things online.

The EU bear has come to town..

Lost $160 dollars yesteday.. Now my total return is negative =(

Shorted EU several times today.. made some pips..

Made some more pips shorting EU..

Total pips today made by shorting EU = 29.1..

I'm a happy trader today!

Mini lot.. 20K
$2 per pip

Read this

http://www.forexfactory.com/showpost.php?p...postcount=21947

I particularly like this explanation:

I exchanged my MYR to USD legally (through a bank) and funded my forex account. Whatever happens to that USD afterwards is offshore, BNM should not care about it.