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I have done 1,000% in 1 week twice on demo and I need to do it live...
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7forex

Biedrs kopš Nov 03, 2011  56 ieraksti 7forex Dec 20 2011 at 10:30
I received a lot of messages asking my trading strategy. I believe Forex trading has very little to do with trading strategy (of course, we need one that is profitable). It's a mental game.

My trading system is very simple. I just trade on support and resistance and I trust my system when I am mentally healthy. However, I may overtrade and be mentally out of control sometimes when I can lose big. That is why I only trade 20% or less of my total risk capital to avoid losing all my money at once.

So my trading strategy is to trade on support and resistance. I only draw support/resistant lines on my charts and I don't use any indicators. The other important part of my strategy is that I compound my trades.

Again, Forex trading is a mental game and I need to be a better person before I can be a better trader.

Happy Holidays to all!

I love taking risk with the right returns.
andromeda1

Biedrs kopš Aug 30, 2010  108 ieraksti andromeda1 Dec 20 2011 at 17:43
I need to be a better person before I can be a better trader.
Thats a truth, it apply when we want to get something. Maybe we first need to become person who is enough magnificient to receive it.

TheCyclist

Biedrs kopš Feb 07, 2011  724 ieraksti PipGnostic (TheCyclist) Dec 20 2011 at 18:24
Or maybe we just need have a nice cup of coffee, wake up and stop dreaming, and don't drag other people down with us. I gave clear concise reasons why this would fail.

No one wants to listen, go ahead. Fail.

It's the hot stove thing. I can tell you many times don't put your hand on the stove. Don't believe me, go right ahead. More investors want to feel the pain?

Show me your pips!!
fastpipsjpy

Biedrs kopš Mar 18, 2010  105 ieraksti Forex Trader 45547 (fastpipsjpy) Dec 20 2011 at 18:43
I have had some good wins in my live account....like the first post stated. This is not advised as the videos show, very very very risky, but fun to show it can be done live. :)





Please don't post negative remarks or give poor feedback. This was done with high risk in my own account and I don't recommend it.

Enjoy!

:)

fastpipsjpy

Biedrs kopš Mar 18, 2010  105 ieraksti Forex Trader 45547 (fastpipsjpy) Dec 20 2011 at 19:12
I have used myfxbook for a while, but just recently came back and checked it out again. Really like this forum! Thanks for the posts and info.

:)

7forex

Biedrs kopš Nov 03, 2011  56 ieraksti 7forex Dec 21 2011 at 01:45

   TheCyclist posted:
   Or maybe we just need have a nice cup of coffee, wake up and stop dreaming, and don't drag other people down with us. I gave clear concise reasons why this would fail.

No one wants to listen, go ahead. Fail.

It's the hot stove thing. I can tell you many times don't put your hand on the stove. Don't believe me, go right ahead. More investors want to feel the pain?


Hi TheCyclist,

I am listening and your advises are so important for me. I truly appreciate your efforts and comments. Because of your posts alone with others, I am now trading with Stops to limit my per trade risk that helps me survive for some other trades when I make a wrong decision.

Again, thank you very much and look forward to your posts.

I love taking risk with the right returns.
7forex

Biedrs kopš Nov 03, 2011  56 ieraksti 7forex Dec 22 2011 at 19:04
Some as me if I can make an EA for my trading strategy and they will help me to do so. My question is that it's possible to make a EA because I only draw support and resistant lines manually on my charts.

I love taking risk with the right returns.
Orientalgeneral

Biedrs kopš Dec 23, 2011  34 ieraksti jou yu (Orientalgeneral) Dec 24 2011 at 09:59
I really enjoyed the replies on this thread, it make me lmao lol

Manage Your Risk
TheCyclist

Biedrs kopš Feb 07, 2011  724 ieraksti PipGnostic (TheCyclist) Dec 24 2011 at 14:23
Well, funny thing is I don't use stops at all. They are a very poor way of managing risk.

But I'll tell you you this. The speed your NAV is changing at indicates the amount of risk you are taking. The faster the changes (both up and down) the more likely you are to wipe out.

Show me your pips!!
TheCyclist

Biedrs kopš Feb 07, 2011  724 ieraksti PipGnostic (TheCyclist) Dec 24 2011 at 15:00 (labots Dec 24 2011 at 15:16 )
Sadly MT doesn't encourage it, but if you use a decent platform like Oanda they have an exposure tab, where you can actually see what's going on in terms of risk in the portfolio.

It's possible to run massive positions which has rapid constant value changes without much risk. Can use almost all your margin, but then you have to be on the ball with the risk.

Show me your pips!!
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