patience is virtue... EU from -70 pips now +10 pips.. SL set to +1... worried d..

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Added on October 30, 2008, 7:57 pmanyway i wanna do a small survey with u guys... when a new parabolic is formed (eg: from indicating to sell to indicating to buy) , how reliable is it to each of u ? do u exit ur trades if a new parabolic forms against ur trade?

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Added on October 30, 2008, 8:12 pmclosed all positions.. today took +158 pips.. market seems to be quite dead ... need to wait for 4-5 hours before having pips..

This post has been edited by kelvin_tan: Oct 30 2008, 08:12 PM

Today i just noticed that ODL-Metatrader spread for EJ is at 3pips(almost consistent).
But for FXCM and Oanda demo trade, both is around 6-8pips spread.
Which one is accurate leh? Is 6-8pips spread is real compared to mt4 which is only 3pips spread?

About parabolic indicator: i will double check whether signal given by parabolic is with CCI, Accelerator Oscillator and Stoch first.
Priority will given to Stoch, CCI and AO first. Coz i seldom use this parabolic. Maybe will try later

This post has been edited by dreams_achiever: Oct 30 2008, 08:50 PM

actually i also notice ODL spread many time quite constant 3pip wherea FXCM can go up to 6-8 pips.I also dont know why

I always notice you like to have a very big negative value, then close with small positive value.

Careful bro, once you r wrong in one time, you might be gao dim ur account.

Juz an advice. Bcoz always you can take a big loss, but you didn't try to have a big win.

Besides, this few day I wont post any charts, bcoz the market I really duno how to analyse at all, I cant get where the market is heading.

I will juz scalp abit and abit. I scalp using SL of 10, and only scalp EU. Lose small but also win small, TP 10 only.

@dreams_achiever
u have to understand the nature of these brokers... there are a few..
market_makers, ecn and so on..

mt4 brokers yes they offer consistent spreads.. oanda lowest spread is on EU .. at 0.9 at times..

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Added on October 30, 2008, 10:07 pm@mphpopular
no la heh.. because i adjusted my lot sizes.. =) so i can afford higher pip loss... my SL = 90 pips.. my TP = 150 pips.. usually once a trade goes positive about 30-50 pips i adjust SL to +1 ... i used to have tighter SL.. but i noticed i get stopped out too often.. so i adjust my SL higher but i buy smaller lots... since i've changed to this method i've been more.. calm during trading =) each TP i earn USD15 but if SL then lose USD9... i dont necessarily take profit at 150 pips.. if i am at the pc i will increase my tp slowly and trail with a tight SL..

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Added on October 30, 2008, 10:08 pmanyway mph... since ur a GJ and EJ trader... careful tomorrow on Japan's interest rates.. they may cut to 0.25% ..

This post has been edited by kelvin_tan: Oct 30 2008, 10:08 PM

This few day I wont trade much on pairs. I only trade EU this few day.

Bcoz I currently really cant see any point in my charts. All the TA is not valid for me now. No TL is seems to be correct, no chart pattern and so on. So I only trade EU as a scalper.

SImple rules for me, using SL 10, when pips goes to +15 then I change SL to +1. ThenI let it goes. In one day, I have more than 20 trade where closed with +1. But if I'm lucky like today, I closed with some trades with +50pips. Juz now EU move downward which give me a +51pips. Quite happy with it....

Trading with free of indicators now, I dont think it is really suitable. TOo risky.

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Added on October 30, 2008, 10:25 pmBesides, if the market condition still carry on this way. I might give up EJ and GJ awhile, and only concentrate on EU GU. No point for me to trade such volatile pair when I see no profit for me in my own system.

This post has been edited by mphpopular: Oct 30 2008, 10:25 PM

@mph
consider going a little on the FA side? read a little cnbc .. it will give u some direction.. we're expecting an upward movement on yen pairs..

yes EU / GU easier to trade. now i am trading on the down side.

@kelvin_tan
Thanks for explaination. After surveying, ECN charge commission fees although they claimed that they offered lowest spreads at EU 2pips(but still can't compete with oanda 0.9pips)
However trading EJ will require 5-7pips range was quite high though. I more prefer to consistent spreads offered by mt4 brokers.
Just found 2 which are quite fine to me: fxopen and liteforex.

Today enough jor. I scalp two trade, and two macam get hit on jackpot. One more EU closed on +70pips. Enough. Currently I facing some problem, later i post out my problem here, wish some one could help me if posible. Really headache for this.

EDIT:
1) Currently as we know, mt4 always got requote. I hate using "rightclick on chart--> place new orders". That is kinda long process if you're on busy path.

So I guess someone from here knew I have the script whereby I can enter a long or short with a predefined SL and TP. For those who have test it out, for sure you will found one problem, the script will place order succesfully if the price stand still, but when market price fluactuating too much, the script will get requote as well, and you dunno whether it has place the trades or not.

SO I looking for any script that I could place my order succesfully without any problem.

2) Besides I looking for an EA wherby it can automaticaly adjust my SL to +1 once my pips into +15. I hate to adjust tis all manually. VeRY WASTE TIME

This post has been edited by mphpopular: Oct 30 2008, 11:59 PM

Im using Metatrader now, since my OANDA demo acc get bancrupt.

I feel OANDA is more efficient but sometimes you do buy/sell at the price thats off your target. I believe Meta can do the same by pressing F9 while viewing the chart and then there is an option maximum deviation and select how many pips. I think I prefer Meta as it shows a realtime small scaler about the movement. Buying GJ near low 158 and sell at high 158 seem to be the trend now. Earn 20k liao after 1hr with meta. Virtual money.

andrekua. How many lots you trade? Mentioning the 20k not really a good stuff over here. Plz do consider if some of trader are losing money now, and you reporting you are earning 20k. Although it is a demo money, but didn't sounds good.

Mentioning the pips is more than enough. 20k of winning in one trade, how many capital we need to have to do that?

Sorry for any harm made, coz it really doesn't make fun when a live trader is losing 20k while you're telling him you're earning 20k.

Peace, no harm here. Juz an reminder that forum is a place for us to share ideas and opinion.

I dont really count. I lose all of the 100k in OANDA in one night, so I knew how its like. Why I play it is because Im curious how you guys earn from it. I dont earn anything from it thus Im not feeling anything bad about it.

I dont really know what its going on or how the rate are determined. That is what I wanna see although what I could see is just selling and buying on news, rumors but what are the basic that support all the rate is still unknown. I think most of the trader care about earning money as well via some charting.

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Added on October 31, 2008, 12:34 amYen is weakening...

This post has been edited by andrekua: Oct 31 2008, 12:34 AM

Yen is weakening?
I thought it had just strengthen itself against USD?

Hi guys,

Just wonder 500pips per month is enough to go for full time in forex for standard acc? It really takes alot of courage to go full time.....sigh


please share ur opinion, besides discussing about pips up and down, perhaps we all shud discuss about trade forex as a career

If discusing of trading forex as a career, should be determine from the case of capital and lot size first. Then only determine the pips amount.

If you're having a capital of USD50,000 and trading 1 pip = USD 10. One month 100 pips is already more than enough.

SO it is hard to be determined. Some traders are using pips to cover their shortage of capital.

But some traders who have high amount of capital, and using it cover the pips value.

@andrekua
you c the difference is we INVEST while u GAMBLE. It is really quite impossible to lose 100% of ur capital in oneday unless ur either over leveraged or u didn't put a SL or ur just plain gambling. Learn the way of forex n u may gain like us. Even so not all of us are gaining. Some of us are in recovery and some of us has loss big time. Those that are sucessful are those that learn forex n always stick to their principles and system

Currently I have usd10k in capital, I still don't have the guts to go full time, one month I can get 300-600 pips(past 3 months records) and I still don't have the guts to go full time.

@bulkbiz
fulltime investors are possible. Provided you are consistent and u have the right amount of capital

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Added on October 31, 2008, 1:13 am@bulkbiz
3 months isn't a good measuring time as you are going to do it as fulltime. I would say probably 1 year or more would be more suitable.. Full time investor can.. adamg1981 is a fulltime investor.. but he's inactive nowadays

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Added on October 31, 2008, 1:17 amUSD10k lets say u make 1% a day.. thats USD100.. one month about 2k USD.. exclude saturdays n sundays) .. 2k usd exchange = 7k ringgit.. is that enough for u? if yes.. u can =) 1% isn't that hard to do in forex..

This post has been edited by kelvin_tan: Oct 31 2008, 01:17 AM

Yen is weakening damn seriously...