Posts by myfxpt
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[quote]ForexAssistant posted: If you look at my trade curves, it seems obvious that those systems work, however, because I know how they work - I should use them, not you. At least until you learn and understand how they work for yourself. Bob[/quote] You definitely hit the nail on the head, Bob! An EA for money management, yes, but you gotta pick the trades yourself!
Leverage In General Mar 14 at 08:15
[quote]8fold posted: Short answer: To open an account use the largest leverage the broker offers. To find out what leverage an autotrade providers uses, or any other system posted on myfxbook, look at the General tab in the info section of the Stats (left side of the window). Longer answer: Learn what leverage is, what it really means (hint: it's just a credit line your broker offers - the bigger the leverage, the more credit you are able to use), and what are its benefits and dangers. You can start here:[/quote] Nicely put!
good Trader ? In General Mar 06 at 20:11
[quote]charlesadethib86 posted: [quote]myfxpt posted: [quote]africa134 posted: The one thing ive learned is anything can happen in the markets. Even forecasts only work 50% of the time so that is why I do not forecast[/quote] So true! In fact, the only thing we can be certain about is our stop-loss...[/quote] Not sure CHF traders would agree with that[grin][/quote] Ah...yes...well... [lol]
good Trader ? In General Mar 05 at 20:36
[quote]africa134 posted: The one thing ive learned is anything can happen in the markets. Even forecasts only work 50% of the time so that is why I do not forecast[/quote] So true! In fact, the only thing we can be certain about is our stop-loss...we can predict this with 100% accuracy. I guess we are not really talking about forecasting in its true sense, but rather, added signal confirmation to lift the win/lose ratio a little more in our favour. That said, I did trade 90-Day Bank Bills back in the 80s on a 30/70 win/lose, and still made regular profits, so as long as the risk/reward is be......
good Trader ? In General Mar 05 at 09:16
[quote]VlasovTrend posted: I mean, maybe you will be able to make, for example, 70:30 if you will combine forecasts with S and R lines, who knows...[/quote] Agree 100% that just a little tweak here and there might tip the balance well in your favour!
HotForex In Brokers Mar 05 at 09:07
[quote]ED_Forex posted: Account number 269022 Hotforex is a market maker and Scam cheater, no STP broker like they claim to be. Look at hotforex website, there's no liquidity providers names, I was hotforex client, when I asked account manager about who are hotforex LP's he said can't reveal the names, it's a secret!!! How can't a client know who are the LP's of his broker when hotforex claim to be STP!!! Hotforex scammed me $15000 after leaving my account to negative balance, how can an accoun run on negative margin!! hotforex didn't apply its margin policy and hotforex gave me in one a......
Leverage is simply a facility to multiply your capital earnings power. Whether it's 1:100 or 1:1000, risk is still controlled by your stop-loss, which in turn is determined by your risk factor. If the result of a trade were 100% guaranteed, you would use the maximum leverage available and fully employ that leverage, because you couldn't lose. But reality is different...we NEVER know the outcome of a trade in advance, so we never fully utilise leverage. For example, if you open an account with $1,000 and 1:100 leverage, you could trade a $100,000 contract, but it would only take a 1% loss to wi......
[quote]alexforex007 posted: Another good method to use when placing your stoploss is to place it outside volatility, and volatility could be measure using the ATR, good work.[/quote] Agree! Any measure used that will keep you outside volatility will help reduce premature exits. As volatility dies down, prices tend to consolidate, and so the stop-loss automatically moves closer to the price action and not give back too much if triggered. [cool]
If it bugs you when your stop-loss seems to be working against you at times, like giving too much unrealised profit back at exit, or triggering too frequently, resulting in a string of small, but annoying losing trades, this might be helpful. I deal with this issue by setting a Buy Entry Stop at the previous low less ATR, and Sell Entry Stop at previous high plus ATR. This allows room for a new trade to settle-in without risking too much. My Buy Trailing Stop is moved to the previous low IF the ask price is more than the entry price plus ATR, and the Sell Trailing Stop is moved to the pr......
Ultimate Tendancy In General Jan 31 at 08:10
[quote]Furax posted: and starting with a live account with only $10.00 is not a problem for nobody, isn't it ?[/quote] Just curious as to why you have not opened a live account with $10 already?
Queens Birthday (17h 39min)
MIDEAST STOCKS-UAE profit-taking may con...(35 min ago)
EURUSD 1.0871 GBPUSD 1.51869
USDJPY 118.996 USDCAD 1.2181
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