GladmanGoddey:

no stop loss?

NZDCAD 0.8673
EURNZD 1.6740

Stop loss placed at tested resistance and support levels respectively.

GladmanGoddey:

no stop loss?

Using stop loss is not the only way to manage ones risk.

Your position sizing when compared with the ATR of the instrument in question is another.

When you will need your Broker to honour your stop loss most desperately, I can guarantee you that all these B-book Brokers most Nigerians are trading on will NEVER honour it.

So then comes the question: Why use it?

jammer777:

NZDCAD 0.8673
EURNZD 1.6740

Stop loss placed at tested resistance and support levels respectively.

and where is that? I think when dropping an alert you should let the public know when you are going to get out if the trade goes south so that those who take the trade will know how to manage their risk by choosing the correct lot size to use. For example take a look at how saxy4c post his alert.

PipMarshall:


Where are you looking at as target?

999

.

meshpips:


Using stop loss is not the only way to manage ones risk.

Your position sizing when compared with the ATR of the instrument in question is another.

When you will need your Broker to honour your stop loss most desperately, I can guarantee you that all these B-book Brokers most Nigerians are trading on will NEVER honour it.

So then comes the question: Why use it?[b][/b]

You should always have a stop loss in your trade, it maybe a fixed stop loss or an area on the chart where you plan to get out if price goes beyond or closes beyond that area( This is personally how i trade). But not having a stop at all is probably how most people blow their account. They take small wins and big losses

GladmanGoddey:

and where is that? I think when dropping an alert you should let the public know when you are going to get out if the trade goes south so that those who take the trade will know how to manage their risk by choosing the correct lot size to use. For example take a look at how saxy4c post his alert.

Noted

GladmanGoddey:

You should always have a stop loss in your trade, it maybe a fixed stop loss or an area on the chart where you plan to get out if price goes beyond or closes beyond that area( This is personally how i trade). But not having a stop at all is probably how most people blow their account. They take small wins and big losses

Okay, I hear you.

It is known that 90% of Traders will lose 90% of their account within 90 days of trading.

Have we ever wondered why there is such a high failure rate?

If everything we have been told by Brokers or authors of books are really true then why do so many still fail?

Take out time to ponder on these things.

Because of the IF . . . THEN statement above, many years ago, I decided to try out the REVERSE of everything I found in books.

It turned out to be a very enlightening adventure.

Today, I question just about everything they wrote for us in books and have found out that they KNOWINGLY set us off on the WRONG path!

voraz:
NZDUSD and EURGBP

I hope you caught pips too

voraz:
Picture 1 - Roadmap for EURAUD

Picture 2 - EURCHF Trade Idea

Picture 4 - EURCHF Entry Trigger (Trendline Breakout)

Keep an eye on these 2.

USDCHF is still around entry.
Finally hit that pending order

Sell eur/us now use 1 lot size

Break or bounce

walexy100:
Break or bounce

It has given way o..

PipMarshall:



It has given way o..

Yes O E don surrender

Communicado Oficial.

Code number 004.

EURGBP : Why not?


Three positions.. Long.
I made aggressive entries with this and can close anytime if I don't like what I am seeing.

Stops should be below weekly pinbar as shown in the analysis shared earlier. I prefer to watch closely.

A minor confirmation is decisive break of the trendline with some upside momentum.

Let's take the profit at the support as we await the break of the big trendline.

Remember GBPAUD?
Shared the analysis on previous thread.

Showing early signs of reversal.

Imminent reversal?
Keep an eye on it.

On a lighter note..
I probably should be entering trades towards those green lines..

Like.. Price 7 times out of 10 go to my green lines (entry areas) from wherever price has been.
I don't usually don't take the trades as I am usually interested in only the move I want to trade.

If I had traded GBPAUD towards my green area.. That's 400 pips or thereabout..

meshpips:
It is known that 90% of Traders will lose 90% of their account within 90 days of trading.

Have we ever wondered why there is such a high failure rate?

If everything we have been told by Brokers or authors of books are really true then why do so many still fail?

Take out time to ponder on these things.

Because of the IF . . . THEN statement above, many years ago, I decided to try out the REVERSE of everything I found in books.

It turned out to be a very enlightening adventure.

Today, I question just about everything they wrote for us in books and have found out that they KNOWINGLY set us off on the WRONG path!

its not about the right or wrong of what is being written but its application which most times differ from personality to personality, some can argue that everything written in any holy books are wrong because of diverging views from different holy books, whereas they all say the same thing at the most basic level and therefore not wrong or right but a guide to be perfected to every diverging personality....every trading books, every indicators, every approach to market say the same thing at the most basic level, the user only need where to synch in with his/her own personality.....the hard part to trading and why we spend so much time trying to decipher the story is nothing but looking for a way to synch with the most basic level which can only be acquired with time after several trial and errors approach

walexy100:
Let's take the profit at the support as we await the break of the big trendline.

I think it's going to break down

Capitals:

Day trade account at BE.
Swing account pushing her luck after 1st TP
That's all...

Day Trade already hit target, but I have being tempted to risk/reinvest some profits and remain game through the blue region.

Swing trade just hanging there after 1st tp, I will let ride till SL if necessary

Is forex trading profitable? I am thinking if investing 2,000 dollars. I am a newbie

kaycee125:
Is forex trading profitable? I am thinking if investing 2,000 dollars. I am a newbie

My brother start small
Maximum as a newbie $500 is ok
Since u will solely be relying on signals from pro for now. I started with $120 & currently at $53
Hoping to bounce back

That's scary

mrsteel:

My brother start small
Maximum as a newbie $500 is ok
Since u will solely be relying on signals from pro for now. I started with $120 & currently at $53
Hoping to bounce back

saxy4c:

Thanks, Keep posting is the hard part. Well done

meshpips:

Una be Chairmen, keeping the forum active.
Kudos

kaycee125:
Is forex trading profitable? I am thinking if investing 2,000 dollars. I am a newbie

Please I am begging you.
Don't..
Please don't lose your money.
Forex is haaaard without knowledge.
And you asking that question means you don't really know much about forex


Please.
Don't lose that money.

You can do an experiment.. Use just 100 dollars. See your returns after 3 months. You will likely lose the money.

Before you should consider using that huge amount.. You need like 2 years of learning.
Serious learning and trading demo. Then small live accounts. When you are ready.. You will know.

PipMarshall:
Comunicado Oficial.

Code number 001
AUDNZD: Five loaves and two fishes.

Went long at CMP.
Two positions.
0.11 and 0.05.
Stops below the pinbar on weekly.
I used stop o, though not showing in the picture.

This, I use, as a virtual trade journal.
Don't take the trades because I said I am entering a position.
Learn from the wins and the losses. You can see the setups and reasons for the trades. They should be good learning opportunities. I am talking to those just learning, not the masters.

Let's see how this goes.
You can lose battles but don't lose the war. Money management principles is what keeps you in the war.

Adjusting my stops for this by 20 to 30 pips. Not yet convinced it won't go up. Like I say I pick a side and stay till there is overwhelming evidence my bias is wrong.

SEC