Reitings: Full Star Full Star Full Star Empty Star Empty Star
Looking for an Edge? Click here.
Iepriekšējās 1 2 Nākamais
HolyGrailPTY

Biedrs kopš Nov 01, 2015  120 ieraksti HolyGrailPTY Nov 06 2015 at 09:17
Hello everyone,
                      I have been paper trading for some time now, and I have finally gone live today. I would like to use this thread to speak some of the formations which I trade and why I do so... Have a look at this formation below...





 Doesn't it look like 'Italy' ? The move down creates what looks like a 'leg' and the accumulation prior to NY market close makes what looks like a 'foot'. Now if you find the same formation on your 5m or 15m of any pair, what happens next?


SteadyCaptureFx

Biedrs kopš Nov 21, 2014  3 ieraksti SteadyCaptureFx Nov 07 2015 at 08:05
10% in 2-3 days... Mate, better keep 'paper trading'. I see you gain 3-4% on 5 pips... This will 99.99% result in a blow up of your account.
I want to warn u before it's too late. Better take your money out of your account because you will loose it all. I know this sound hard but u are the 1000's Myfxbooktrader with a 'get rich quick' mentality and will end up with big losses.

I wish u all the best but better read some stuff about risk management and trading psychology before going on a real account. Try to develop a system and be disciplined. Only then you might have a chance to survive in this fx world.

HolyGrailPTY

Biedrs kopš Nov 01, 2015  120 ieraksti HolyGrailPTY Nov 09 2015 at 07:23
SteadyCaptureFx posted:
10% in 2-3 days... Mate, better keep 'paper trading'. I see you gain 3-4% on 5 pips... This will 99.99% result in a blow up of your account.
I want to warn u before it's too late. Better take your money out of your account because you will loose it all. I know this sound hard but u are the 1000's Myfxbooktrader with a 'get rich quick' mentality and will end up with big losses.

I wish u all the best but better read some stuff about risk management and trading psychology before going on a real account. Try to develop a system and be disciplined. Only then you might have a chance to survive in this fx world.

 Thank you very much for the advice. I take it that your advice is being passed on to me, based on your personal failures. 3-4% profit on 5 pips, should be acceptable as long as you are willing to risk the same amount. Many people risk 1000% less per 3-4% and still manage to blow their accounts. The system which one trades is much more important then money management.

SteadyCaptureFx

Biedrs kopš Nov 21, 2014  3 ieraksti SteadyCaptureFx Nov 09 2015 at 13:22
Mate, there is no holy grail & get rich quick way in this market. Do your homework before you enter the fx market with real money. Ofcourse u can train with a small amount because a demo account isn't good because you have a different mindset in demo trading compared to the real thing.


'3-4% profit on 5 pips, should be acceptable as long as you are willing to risk the same amount. Many people risk 1000% less per 3-4% and still manage to blow their accounts'

Normally when I read this kind of bullshit I wouldn't even comment but I want to avoid you losing all the money on the account. Better invest the 1800 in a mentor, tradingbooks,... that will be a better investment than the 'casino' u are now running. Believe me on my word, you will blow up your account if you continue trading this way. What will you do when you have a losing streak with 3-4% risk per trade on 5 pips? It's 'insane'...


TradeFyre

Biedrs kopš Sep 28, 2015  9 ieraksti TradeFyre Nov 09 2015 at 15:38
'The system which one trades is much more important then money management.'

I disagree with @HolyGrailPTY. Listen to what @SteadyCaptureFx says.

Imagine that I use a coin toss strategy to trade - it is such a shitty strategy with 50% chance of winning. However, my wins are twice as big as my losses, and thus I make money in the long run. This shows that money management is the key to success, and this is what our firm strongly believes in.

Trigger Ready™
Shneck

Biedrs kopš Nov 02, 2015  3 ieraksti Shneck Nov 09 2015 at 15:39

 Thank you very much for the advice. I take it that your advice is being passed on to me, based on your personal failures. 3-4% profit on 5 pips, should be acceptable as long as you are willing to risk the same amount. Many people risk 1000% less per 3-4% and still manage to blow their accounts. The system which one trades is much more important then money management.

100% true what SteadyCaptureFx said here...sorry but honestly, You wont survive long with this kind of thinking. That last thing You said 'that system(or strategy) is much more important than Money management' is exactly the opposite. Money management is the key, with good MM even not the best strategy can make profit. it dont work opposite. Byut U look like U need to wipe Your account now :-) A did that twice till I found out...

HolyGrailPTY

Biedrs kopš Nov 01, 2015  120 ieraksti HolyGrailPTY Nov 10 2015 at 08:03
I really would like to thank all of you for posting useless banter on this thread. The purpose of this thread was to speak about trading formations, and not theory based on someone's belief of what has happened to them will happen to me. Many people stride for longevity, when the reality is that goal isn't something which is realistically obtainable. Even if it were, the reality is not blowing your account in 4 years, but never having withdrawn or even been in profit, within that same amount of time makes the 'longevity' claim pointless.
 
 If I take a trade and close in profit for 3-5% for x amount of pips, then MY reality is I am basing that trade on where my stop loss is. Many people criticize, without even having a foundation on what to attack. @SteadyCaptureFx doesn't even have a live account posted, yet is giving me advice about how it is to trade, and speak about my trade/money management as if he has any idea as to how I trade.
 
 As for @Shneck he is another 'DO AS I SAY, AND NOT AS I DO' but he has no account to show us what he has done. He also believes that money management is much more important then the system which you are using. Well the reality is how can you manage your money or trade, if you don't have a plan on how to even go about entering the market? Most of you guys, based on the accounts posted, minus @Shneck and @SteadyCaptureFx because they don't have one, think that risking a small amount of your account (money management) is the way to go. You try to pick tops and bottoms, and when you fail, you end up opening fresh positions, which is based on your bias to the floating loss. Basically you are avgín your position, instead of respect the laws of price action. So for you guys to think money management is much more important then the system you are trading, I would advice you to rethink that theory. Do you think dating a women who is 'HIGH MAINTENANCE' will change her way of being because you have a plan on how to 'MANAGE YOUR MONEY'. Of course not! Her behavior is a given, just as the market's behavior is a given. Your money management in no way shape or form will change the behavior the market. Once you grasp how the market works, then you create your money management around that, thus making the system the key.
 
 If you don't aim for accuracy, which almost no one does here, then of course you won't risk .01 - 1% of your account per pip. Yet, if your system is based on accuracy, then your money management will reflect that.









 

 
Pielikumi:

Shneck

Biedrs kopš Nov 02, 2015  3 ieraksti Shneck Nov 10 2015 at 08:44
Go ahead man :-) just wanted to share my experience. Find for Yourself, if it will go well for You in the longer term. I wish You good luck mate :-)

togr

Biedrs kopš Feb 22, 2011  3470 ieraksti vontogr (togr) Nov 10 2015 at 09:01
HolyGrailPTY posted:
 Hello everyone,
                      I have been paper trading for some time now, and I have finally gone live today. I would like to use this thread to speak some of the formations which I trade and why I do so... Have a look at this formation below...





 Doesn't it look like 'Italy' ? The move down creates what looks like a 'leg' and the accumulation prior to NY market close makes what looks like a 'foot'. Now if you find the same formation on your 5m or 15m of any pair, what happens next?



Nice title.
I do not see any edge here, just beginning trader...

I like what I trade, I trade what I like
sbnelson2005

Biedrs kopš Nov 01, 2011  41 ieraksti Stephen Nelson (sbnelson2005) Nov 10 2015 at 15:12
We are in a strong Dollar environment but with little News out this is just a trappy market. Watch out for false breaks out where the big boys can get you upside down fast.

Iepriekšējās 1 2 Nākamais
Consumer Confidence (16h 6min)
States that voted for Trump are more lik...(6h 59min ago)
EURUSD 1.22976 GBPUSD 1.39707
USDJPY 106.855 USDCAD 1.26438
FxPro

Tools

Kopiena

Apskats

Brokeri

Platforma

Atbalsts


Twitter |  Facebook |  Lapas karte  |  Noteikumi  |   Privacy Policy
©2014 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.