Hi,
Are you using 8-period RSI with an Exponential Moving Average of 8? Is this part of the 8and8? If so, what charting are you using? I tried this combination on the Marketscope charts that FXCM has on their trading platform but I wasn’t able to overlay the ma on top of the RSI Index. Can you explain how you do this, if in fact this is what you are doing? Thanks again for your help.
DAILYFX CHARTS , hit research on the platform it will take you there.
i use the chart tab on the left , it gives you a 4 chart view…you can pick one and detach it so it fills your screen…then work form there, make sure you are in CANDLESTICK View
Hi,
What leverage do you use with your trades?
Thanks!
I am small time, buying 10 units trades - 1.00/pip, like i said earlier, i am only trying to get 10 to 25pips per trade and then i am out
My goal is to have 50 to 100 pips per week on a 1000.00 mini account if i can achieve this for about 6 months, then i will try and find some more capital
like $10,000.00 and trade bigger lots=MO MONEY…
Hell if i can turn this into a FULL TIME Job , where i am sitting at my laptop
3 to 4 hours a day…I SAY, SIGN ME UP…That is my Ultimate goal here.
I am thinking like that now…because i proved to myself i can make money at this. (Watch GBP/USD it’s getting ready to drop its load!)
GOOD LUCK Fellow PIPPER!
I think you have the right idea about a full-time job trading currencies. That would be a dream job, but I believe a true reality!! I have a good formula for turning pips into a million dollars. Are you familiar with compounding? Here is your formula:
$1000 + 1000 pips @ $1/pip = $2000
$2000 + 1000 pips @ $2/pip = $4000
$4000 + 1000 pips @ $4/pip = $8000
$8000 + 1000 pips @ $8/pip = $16,000
$16,000 + 1000 pips @ $16/pip = $32,000
$32,000 + 1000 pips @ $32/pip = $64,000
$64,000 + 1000 pips @ $64/pip = $128,000
$128,000 + 1000 pips @ $128/pip = $256,000
$256,000 + 1000 pips @ $256/pip = $512,000
$512,000 + 1000 pips @ $512/pip = $1,024,000 = jackpot!
. . . . . . I think you are on your way and I wish you the best of luck!!!
Profitable trading days to you!!!
I am currently getting a 18% return. Not my highest. But at least its positive.
Shouldn’t really matter about our return though. Focus your attention on your own return. After all, its your trading account, not ours.
I wish you the best in your trading.
Hi Guys,
Quite a few of you have suggested that the original poster should look at what he’s doing and not concern him self with what other people are making as that isn’t important. If you want to be identified as a novice trader, such statements will help you achieve that goal quite easily. You MUST ask questions about every and anything which will make you feel more comfortable with trading. Trading is very stressful and will become less and less stressful as you become more and more comfortable with a mixture of your own experiences as well as other people’s woes and joys. Never think that the ideal method of trading is not asking questions, not medling in other peoples business and not encouraging the people around you to share so you may pick up on what they might have missed out on.
So, my final word. If asking how much you are making is going to give a sensible goal you may work towards or perhaps it will educate you on if leaving your job is a good idea, ask it and ask it without hesitation.
My 3 cents. ;)
It`s good formula .:))) but main thing here is . how you will make those pips ?
But that misses the point surely. However much someone else is making is totally irrelevant. It is a common question from new traders and of course they can ask it or anything else. If answered honestly 80% or more are going to say they are losing money, 15% surviving, 5% making it regularly. These figs are often quoted, dont know how accurate they are but they are probably real based on the traders I know personally in my local area. So what does it matter if Joe Bloggs answers the post and says that they are making a million? or losing a million?
You are 100% right, Its really an irrelevant question, who cares what anyone else is making? Its more about “how”…and if that “how” can apply to your ability, skill, captial, undertstanding, emotional control and risk level.
I couldn’t agree more.
If asking how much others are making is done to determine the possibilities the forex market offers, then let me make it simple: ANYTHING IS POSSIBLE.
The question is whether it is possible for you. Someone who makes 100% return a year while taking substantially more risk than you would feel comfortable with essentially negates what that person’s return means to your own goals. Everyone has different risk tolerance, personalities, financial goals, which, in turn, makes the possibilities very different for each person. By dwelling too much on what others are doing from a return point of view no doubt leads to a road of endless disappointment.
All we need to do is learn the proper process and stick to a method that “talks” to us. Understand from the get go what your risk tolerance is and find a method that repsects that as much as possible and let the returns be what they will be, regardless of others’ performance. Remember that returns mean nothing when they are not viewed in the context of risk.
Its funny…no one has come back and said anything bad about monthlyreturns for over 2 years now… funny how people are quick to jump to conclusions and when they realise there’s no problem everyone goes silent. good day all.
i try to done more but i can make 10 pips a day, 5 days a week.
It’s not about money, it’s about pips.
[QUOTE=“GOFX;524926”]It’s not about money, it’s about pips.[/QUOTE]
Really…? Can you go to the grocery store and buy food with pips?
its not fixed for me , sometime i got $100 and next day i loss about $70 but i try to solve my loss .
I’m trying to make at least 1000$ a month
Not much, currently am in the range of $400 which is relatively ok for me, but i need to scale up the capital money so that i can make good amount of profits each month.
I highly doubt any of the big traders will post their profits. I’m up or down in mulitples of ~$1000. So I am surviving.
Currently up 60 pips (so a few thousand).
ah you are trying not realized yet then? to gain $1000 what is your investment?