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 Forex Trading Corner V2

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low yat 82
post Mar 29 2008, 11:28 PM

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QUOTE(Quincy @ Mar 29 2008, 10:15 PM)
What hold strategy? Swing trading?

Ive been holding Eur/Usd and Usd/Chf for a week now, and have no problem with it.

If want to use hold strategy, have to make sure you are with the trend and of course use proper MM  icon_rolleyes.gif

I agree on the small capital part, but if using broker with micro lot and less, shouldn't be any problem.
*
sorry, my hold does not means like dat.. tongue.gif


in stocks, hold means u dun sell..as long as d company has strong fundamental, its ok.. but in forex, d drawdown might b huge!!
siaokia
post Mar 30 2008, 03:39 PM

HIii.. HikHikHik!!
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My advice is plan your trade, discipline and be consistent... Millionaire in on the way.... smile.gif

1st.. Find a system that work with you and test it at least few months or 3 fold your demo account at the same time ...save up some money to open an account.

2nd.. Once done your research, the system you test work perfectly then time to apply it to the real account and Be discipline.

3rd.. Remember.. you are not compete with anyone..you do this for yourself ..free yourself from employment and have more time with family. smile.gif

4th.. Once earn, REMEMBER to gv bck to Society or to God at least 20 percent and you will be bless. icon_rolleyes.gif


Ok Done.

For example...Let said you start with USD 100 only.

Plan your trade... 100-200 pips/weeks.. Once reach this target close your account and spend your time with family/ friends and don't over trade.

With USD 100 ==> Set 1 Pip = USD 0.10
With USD 1000 ==> Set 1 pip = USD 1.00
With USD 10000 ==> Set 1 pip = USD 10.00


Keep on and on... you will reach USD 1k one day.

Make sure u know what you are doing... don't simply open a position vmad.gif mad.gif


It is like a fisherman go to sea to fish .... In the sea (Forex Market)... we got lots of fish(Money) ..
There got many type of fish (Different pair) like Cencaru, Siakap, Bawal, Sharp , whales and list to go... Each Fish have its own characteristic ..so may be you can make a net ( ur system ) to catch those fish...

Once ur boat is full ( meet your target of the weeks ) then you have to go back home to empty ur boat and come again next day... Fish in the sea still in the sea .. it won't run away... laugh.gif

You can't catch and catch untill ur boat is overload ( overtrade ) then ur boat will sink...u lose all.. even your own boat ( Ur deposit ) vmad.gif vmad.gif

.....

Just my Humble opinion... smile.gif Good luck trader!





small-jeff
post Mar 30 2008, 05:27 PM

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FXCM

here's one good article...which is perhaps the reason i kept losing in my demo..

QUOTE
I've seen some new traders have some incredible winning results in a short period of time.  However, quite often they will lose those gains as just quickly.  Since their approach did not change, they will come to us in the FX Power Course for some sort of answer.  The reason is usually the same in that they forget to first identify the mood of the market before finding their trade.  What I mean by that is to first identify the direction of the trend on the daily chart and then find your trade.  If the daily trend is up, then only look for buys and if the daily trend is down, then only look for sells.  If the daily chart shows a range bound market, then look to buy above support and sell below resistance.  If you are not sure of the trend, then the play is to move onto another currency pair where the trend seems obvious.  I see many traders buying the pullbacks on a currency pair that is in a strong uptrend and enjoy tremendous success.  Then when the trend stalls out or changes, they continue to buy those pullbacks and lose all of their previous gains.  Being on the right side of a trending move can result in some great trades while trading against the trend can lead to many quick losses.  A good way to see if this may be one of your problems is to run a report on your FX Trading Station to see all of the trades you have made.  Then take a look at the daily chart and note where you entered into the trade.  Now ask yourself how your results would have been if you had only traded in the markets where you could confidently identify the direction of the trend on the daily chart.  Below are two current examples of strong trending markets.  The EUR/USD is trading up near all-time highs while the USD/JPY is trading down near lows not seen since 1995.  These trends are obvious and because of that offer some good trading opportunities.  We want to look for buys in the EUR/USD since it is trending up and look for sells in the USD/JPY since it is trending down.  You may find that adding this simple first step of identifying and trading with the daily trend increases your chance of success.



Hamano
post Mar 30 2008, 09:09 PM

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Hi anyone..i newbie here start trading live on Friday 28/3/08. After training in demo account for about 2 1/2month on Meta4 platform.. icon_rolleyes.gif this is my 1st day report on live account @LiteFX for all forex gurus please give advice whether i need to put more equity or should i stay with my 500usd? playing "kecik kecik only 5cent perpips on 1:100
Attached Image
that is my profit/loss for the day..and as u can see on the picture..I TERdelete my SELL PO..that should give me over 100pips!! cry.gif

This post has been edited by Hamano: Mar 30 2008, 09:12 PM
small-jeff
post Mar 30 2008, 09:13 PM

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just wondering...is it a mini acc? what is "ter-delete anyway? accidentally closed the position?
Hamano
post Mar 30 2008, 09:15 PM

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this is Mini account..swap free!! yeah accidently closed the position..which can give 1++pips
Attached Image
that is my training/demo account on InterbankFX start with 3000usd (earn 3xxx.xx ) virtual money and on 27/3 i stop demo bcoz got confidence trading live, can i post my daily profit/loss in this thread? blink.gif
sorry my bad manglish

This post has been edited by Hamano: Mar 30 2008, 09:51 PM
low yat 82
post Mar 30 2008, 11:50 PM

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QUOTE(Hamano @ Mar 30 2008, 09:15 PM)
this is Mini account..swap free!! yeah accidently closed the position..which can give 1++pips
Attached Image
that is my training/demo account on InterbankFX start with 3000usd (earn 3xxx.xx ) virtual money and on 27/3 i stop demo bcoz got confidence trading live, can i post my daily profit/loss in this thread? blink.gif
sorry my bad manglish
*
wow.. same wit me... trade on friday!! thumbup.gif thumbup.gif of course can.. i also thinkn do d same thing tongue.gif
Hamano
post Mar 31 2008, 12:00 AM

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QUOTE(low yat 82 @ Mar 30 2008, 11:50 PM)
wow.. same wit me... trade on friday!!  thumbup.gif  thumbup.gif of course can.. i also thinkn do d same thing tongue.gif
*
Thanks sifuu...tmmrw start trade as early 8am..do some TA bla bla..b4 12 should post my report ... my target tmrw is 200pips nett.. icon_rolleyes.gif

small-jeff
post Mar 31 2008, 12:03 AM

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wow...200pips per day? which pair you're eyeing on? i should call you sifu...still in demo... sad.gif
low yat 82
post Mar 31 2008, 12:04 AM

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QUOTE(Hamano @ Mar 31 2008, 12:00 AM)
Thanks sifuu...tmmrw start trade as early 8am..do some TA bla bla..b4 12 should post my report ... my target tmrw is 200pips nett.. icon_rolleyes.gif
*
sweat.gif sweat.gif dun call me sifu leh.. i also still learnin..

hmm... 200pips? wat pair u lookin at? tomolo mayb i'll lookin at GU for swing trade.. see free or not to short...huuhuh.. or mayb scalpin around tongue.gif

edited:typo

This post has been edited by low yat 82: Mar 31 2008, 12:05 AM
Hamano
post Mar 31 2008, 12:30 AM

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Im taking for my favorite pairs..GJ, GU and sometimes GJ.. i like to play JPY pairs..
Attached Image
that is from my demo account..on 24/3..112 pips gained [monday im quite busy..so dont have time to trade alot]
27/3 i earn over 190pips..and its all on demo..my highest pips gained is 600..Zzz hope i can do same to my Live account..but sad..LiteFX open is on 7am Malaysian time

using Scalp and Swing technic
and sifu ar..what SL shud i put on GJ? i always put 40..sometimes it hits..sometime its not please give some advice~
thanks in advance blush.gif

This post has been edited by Hamano: Mar 31 2008, 12:33 AM
normeck
post Mar 31 2008, 01:10 AM

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nice to see another member go into Live Account...tomorrow lets start trading...
i hope this thread will not only posting what we gain or lost...maybe some signal will help each other in training....
i will try to post my forecast for GJ tomorrow...its my 1st time..so i need help from others sifu...

tq...
DaBestOne
post Mar 31 2008, 01:13 AM

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QUOTE(low yat 82 @ Mar 29 2008, 07:45 AM)
http://www.interbankfx.com/Tools/SwapRates.aspx#
yup... some broker do offer no swap rates/rollover..means no rollover... include no interest rate  for d money u put in their acc.
*
so in this case, choosing which kinda broker will be a wiser choice? the 1s that offer no rollover or with rollover? thanks for the advice bro.. notworthy.gif
Hamano
post Mar 31 2008, 01:48 AM

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erm..im a muslim..can't take the swap..so that why i choose the LiteFX = swap free, quite nice and fast service..that friday.. i deposit using local bank..
its only take 2minute to deposit to my LiteFX account. withdraw also easy..
take minimum 1hours...
hehe i think i also will provide with a couple of signal here... for GJ GU and UJ..and maybe EU?
small-jeff
post Mar 31 2008, 02:13 AM

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hmm...just a little forecast..

GU - short limit 1.9850
UJ - scalping
GJ - scalping/ short limit 196.00
EU - short

Hamano
post Mar 31 2008, 02:16 AM

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wow sensei..already post forecast..i will try to follow it tmmrw.. lets make pips!!
small-jeff
post Mar 31 2008, 02:22 AM

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wah...dont lar follow just like that...better you trust your own indicator... tongue.gif

p/s: i'm still on demo leh...
Hamano
post Mar 31 2008, 02:23 AM

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better take note..even on demo...i also take note from u sensei~
Attached Image
small small on Marketiva this is profit/loss on 28/3 laugh.gif laugh.gif


Added on March 31, 2008, 7:30 amHappy Trading to all Forex traders...and hope all get much and much greenpips

This post has been edited by Hamano: Mar 31 2008, 07:30 AM
normeck
post Mar 31 2008, 09:58 AM

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ok...
for today forecast
base on news...theres a lot of positive news today...but there also big impact
on -ve news...

so

GJ - 198.00 to 202.00

p/s : what is scalping in malay...(lazy to open kamus le) and please...Trade On Your Own Risk...don't simply simply follow mine...its my 1st forecast

This post has been edited by normeck: Mar 31 2008, 09:58 AM
Hamano
post Mar 31 2008, 11:16 AM

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normeck sifu..i open GJ since 197.95 <-- 2 post and then when it raise to 20pips i "lock" it at 10pips..then it retrace awhile..bcoz i dont know it will "mengamuk" until 200.00..
then i open post again @199.11 its goes to 199.90 lock at 65pips.. erm i also dunno what scalp ( but in kamus its say "kulit kepala" ) laugh.gif 1 expert forecast GJ will got to 207.xx this week..

this what i have taken on his website
Trade signals:
no signals for today, I have 1 opened position
(updated 30.03.08, 14:41 by GMT time)

Opened positions:
buy 198.10, stop loss 197.10, take profit 207.00

Closed positions:
buy 201.36, stop loss 200.00, take profit 207.00 (-136)
pips account by trade signals of murch: -136 pips

This post has been edited by Hamano: Mar 31 2008, 11:21 AM

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