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What is the first thing after registering in myfxbook?

NiklaasBuekes
Jan 06 2014 at 19:59
1 posts
I have lost all my money and dont know how it happened. This happened while trying to learn. I dont even know what system was used.
How do I avoid making the same mistake?

ArdiFX (ahuruglica)
Jan 08 2014 at 10:21
852 posts
Exited 1H EURUSD setup for average +38.25 pips. Still long on 4H setup.

New setup short USDCHF at 0.9120.

SL 0.9250
TP1 0.8990
TP2 0.8400

ArdiFX (ahuruglica)
Jan 08 2014 at 22:16
852 posts
Chart on short USDCHF trade idea.


Not only EW is signaling that the current cycle is coming to the end but also big RSI divergence on 1H chart.

Attachments:


minagre
Jan 10 2014 at 12:08
26 posts
hello Ardit,

yes I have seen the set up of USDCHF as well, but still want wait for tomorrow night at 11:00 PM Europa Time at the close of the Dayly D1 candlestick, to confirm the PIN plus, after the Pay Roll non FARM of US Market.

By the way it is always great hear from you.

Greetings

ArdiFX (ahuruglica)
Jan 10 2014 at 13:03
852 posts
Yes, it still can make another push higher to finish fifth wave then lower. It is possible we will see a false move on NFP then we will head lower. Stop should be safe. I'm short.

The idea about posting trades is not about teaching a specific trading method but about risk management. A system is as good as its risk management.

ArdiFX (ahuruglica)
Jan 10 2014 at 16:47
852 posts
Exited manually on firs half USDCHF for +95 pips. If the wave count is correct then and the pair makes a new high then I will add again to short position. It’s likely that wave B high has been seen already at 0.9127, which is not bad, I'm short with half position. No change on second target or stop loss for now.

No change on EURUSD setup, lets see if first target hits by the end of the day.


I will continue to post trade setups on the weeks ahead.


Have a nice weekend everyone.

Attachments:


minagre
Jan 11 2014 at 21:56
26 posts
Thank you Ardit, as always you are Great, at the moment I am studying trading, and instead of doing with demo, I am investing / trading with mini lots of amount of 10 cents per PIP, it sounds much better and really worth, something like playing with sandwiches instead of playing with money :)

I'll go back on the graphics to understand better what you are talking about, do you usually fix stop loss and take profits?

Thanks

Semper Augustus
jeex
Jan 11 2014 at 22:00
7 posts
NiklaasBuekes posted:
I have lost all my money and dont know how it happened. This happened while trying to learn. I dont even know what system was used.
How do I avoid making the same mistake?


Learn with demo accounts in stead of real money. But if you lose without knowing what happened, you probably did not set a StopLoss.

ArdiFX (ahuruglica)
Jan 11 2014 at 23:13
852 posts
Hello Mirange

It is OK to start trading/learning with real money until the amount you are betting is so small and you can afford to loose. The market is so big that you can't control it, but you have to learn to control your emotions. And, you can't do it by demo virtual chips. Just remember no matter if real account is so little and you can afford to lose it, treat every trade with respect and don't gamble. When you develop a trading style that fits to you and you have enough experience, then you can start to increase your trading capital.


About my trading style, you can learn a lot from trade setups that I posted. Those are the same trades that i took on real account. I don't buy on the market but with entry orders, I like to wait for the market to come to me. Usually I trade in two equal lots. I use hard stop loss and is the same for two lots, firs target is almost always equal to stop loss, if firs target is hit then the trade is free. Trades are made on 1H time frame but second target is on 4H time frame, and always 2x or higher than stop loss.

When the trade gets filled, even though I have stop loss and targets doesn't mean that I do nothing. I monitor the news and wave structures. I can trail SL, add or cover, hedge, etc. If the market does not behave the way I wan't it to, I exit.

My strategy is based on Elliott Wave Theory, Fractials, market sentiment and years of experience. I have a full time job as bankier which helps me not to overtrade. I also trade stocks but not with broker but with a bank. For stocks I don't use any particular technical analysis but my experience about business that I gained on banking sector. I read a lot but I don't follow any advice from anyone, I'm more comfortable with my own decisions.

Hope I could be any help.

Regards:
Ardit H.

ArdiFX (ahuruglica)
Jan 12 2014 at 15:12
852 posts
If USDCHF breaks below 38.2 fib that will confirm wave B is already in place. If so, I will move stop on break even and will consider adding on retracement.

EURUSD should hit first target on Monday then tetrace a little bit. If so I will consider adding on 50% retracement with higher target. I will not make changes on second target.

Correlations between USDCHF and EURUSD are high so it is better to add only on one pair unless trade is risk free.

Good luck trading.

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