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Pepperstone, Hot Forex, and Forex4You.
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I have been on a winning streak and now nervous to take new positions In New Traders Jan 30 at 07:46
[quote]elerik posted:
This is very risky strategy.
Scale in/ Scale out strategy in other words.
But may be you have good tactic signal for "get in" and could be good.
If you are in positive resault. But keep in mind that in negative it is quick hard death of your account, your mind, your calm will be flush, your eyes will stop see reality and you will make more mistakes than you think.
One day trend will stop, and at this moment you have to stay with feet on ground. Than next month you can consistantly loss becouse everathing can stop work. Than next month you can be back in ride......
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I have been on a winning streak and now nervous to take new positions In New Traders Jan 29 at 00:02
[quote]mylin_m19 posted:
I trade on breakout patterns and normally hold on to my trades until the pattern is broken.. thats it, very simple strategy..
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Keep doing what you've been doing. Your fear of loss is preventing you from future gains, and I suspect this is because you might not have a clear money management plan. A sensible stop-loss and trailing-stop strategy will give you the confidence of knowing potential losses "before" you enter a trade, plus help you secure breakeven and systematically lock-in accrued profit as a trade progresses.
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Is that it? Is that your come back? Talk about LOL
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MT4 volume is not a good guide at all, as highlighted in your post netkoala. A better source of volume information is the COT report published each Friday.
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[quote]Jaypipin posted:
who is right and what is the outcome of these accusations.
fpa changed status to 'scam alert' for russian brokerage InstaForex
I have seen some skepticism towards Insta, but most of the activity would have been a non issue had traders known that insta require a position to remain open for more than 300 seconds then only can it be closed or partially closed. Also their fixed spread and alongside a claim to be a MM or provide ECN connection is still an open discussion elsewhere.
So i wrote to Instaforex and questioned the alert on fpa about scam broker. Insta forex rep......
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[quote]forexpipcatcher posted:
[quote]myfxpt posted:
I guess forexpipcatcher has never kept a trading log, nor checked the bottom of a MT4 trading statement. Of course, it takes a little longer than 9 days of demo trading to construct a usable trading log, and a little more time to understand the data presented on a MT4 statement, but if you keep studying you'll get there sooner or later.[cool][/quote]
A classic comment from an unsuccessful trader. That's why you're here and not out there trading and making a living out of it.
Your past results do not reflect your future results. As for data......
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I guess forexpipcatcher has never kept a trading log, nor checked the bottom of a MT4 trading statement. Of course, it takes a little longer than 9 days of demo trading to construct a usable trading log, and a little more time to understand the data presented on a MT4 statement, but if you keep studying you'll get there sooner or later.[cool]
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This is a common formula, and is explained in the book "Better Trading" by Daryl Guppy. Mike's analogy is not wrong at all. He is simply not prepared to trade more than 50% of the account balance at any one time, and is not prepared to lose more than 1% of account funds on any one losing trade.
In "Better Trading" the author proposes no more than 6% of account funds should be committed at any one time, although he is talking about non-leveraged share trading. How relevant this rule is to leveraged trading remains undetermined, and the author acknowledges this.
I actually......
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I think you are missing the point of using risk % as your starting point. A 2% risk factor applied to a $10,000 account is $200. Divide $200 by the spread between your stop and the entry price to determine lots. Number of lots, and the margin required for each, determines the percentage of the account applied to each trade.
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