Extract, there’s your 34.28 getting hit, and then the violent reversal as per my previous post. I hope you got out .
The markets exist to get wealthy, and it is a way to get rich quick if you know what you are doing.Not sure why you all have a problem that I’m willing to take bigger risks than most people do. And why would my broker care what amount i make? I trade with an ECN broker and pay them good commissions on every trade i do. They have already made $33.39 off me in commissions since i deposited only 1 week ago!. Also this broker is regulated in Australia by ASIC and my money is kept in a segregated account that they make no interest in. There is no way they can’t pay me what they owe. Here is the link to there website https://pepperstone.com/
By the way what does AMAF stand for?
Nice call i got out for $180 profit
I need to wait further more to get hit at 36.05, should I wait or get out?
Ask your broker, what happens, if a spike drives your account to a negative balance without fills in between. I am pretty sure you have to pay that. That adds to your risk of $ 200. That’s not a broker issue, it’s a trader issue what every serious trader with proper risk management has to be aware of. And it’s something what gives such events like a “Black Friday” the color black. Traders jump out of the window from the thirteenth floor. You know why? Because they made a fortune in years and lost it all in a day.
Regarding risk, that is not just a word. It will become real if you are not extraordinary lucky in your gambling. And regarding your quick rich scheme: Call Mr. Geithner. He needs help from you. You could make the US debt of 14.2 trillions go away in a couple of months, lol.
Anyways, as I said before, go ahead if you don’t believe experienced people (there are many at this thread who warned you). It’s your money and you can do with it what you want.
Can we please stop talking about brokers and whatever issues i may encounter. You all make it seem like im trading with a 6 figure account.I have blown way more than $200 on a single sports bet and at the casino many times. I deposited the lowest amount they allow to try them out after hearing how ECN brokers are better, plus my money is safe with them if they went bellyup overnight. So from now on i will not be replying to anymore Broker and Money Management related questions. Also im in a pissed off mood today after missing a great entry in Gold and seeing Silver skyrocket that wouldve made me 2k+ if it happened last night, but of course the yanks had to have a freakin holiday!
Mysonucat, as per the attached chart, it is showing current level is, once again, very strong R. If that is broken, then it is going to be a very sharp move to exactly your target at 36.05.
The daily is showing there is enough room for a move to 36.43 and even 37.00.
Having said that, and because of the strong R, there is also that probability of a reversal form the current area.
“AMAF”–As a matter a fact.
Extract, I hope you “extract” this one point. First, and to the best of my knowledge, I know no one on this entire forum. I’ve also been trading long enough, and have been successful enough to know a fraud, a successful trader, and experienced trader, and someone who just does not know what they are talking about.
Repsectfully, and maybe this jolt will help you ion the future, you fall into the category of not knowing what you are talking about, yet we understand perfectly your innocence and the fact you are naive. (Keep reading. This is going to do you some good.)
Buckscoder already alluded to it. If you grow your account at the gains you are talking about, but November 2013, you are worth $200 trillion. You talk highly of your broker (Not to be mistaken for trying to demean your broker.), but your broekr and all the banks he is affiliated with does not have the money to afford paying you $200 trillion.
Listen! You can lead a horse to water, but you cannot force him to drink. You can make a lot of money trading. The most successful traders in the industry have become wealthy, not by dropping in $200, and then 7 months later wakikng up to $200,000 (Again, you bought into someone’s book.). It is by a persistent and consistent methodical growth.
You about getting rich if you knwo what you are doing. It’s clear you have a methodology that works for you, and that is great. It is also clear you do not know what you are doing (You got to keep listening. 4xpipcounter knows what he is talking about.). You have already mentioend about losses you had when the mental part got the best of you, how you missed entries. You also got out of your silver trade on my forecast, yet, you have implied I don’t know what I ma talking about.
Look! You have a methodology that is working for you. Tone down, quit trying to impress, and you will get there. If not, then cut-n-paste this comment, and make sure you remember 4xpipcounter said so, "You will still be spinning your wheels 7 months from now."
I’m most likely done about talking about this to. You can’t say we didn’t try to help.
Extract,
I think, you have the right to trade the way you want, everyone else also has the right to recomend that your trading style is very risky/lethal
I believe that traders that are newbie’s should thanks everyone that is trying to give advice to a newbie about trading forex. But it is your choice to trade the way you want. At the end,
if you make the $$$$ or losse your money is up to you and your trading.
I only wish you good luck…
Regards,
From Puerto Vallarta, mexico…
Estoy de acuerdo con usted. Usted es exactamente correcto. Pero a continuación, usted sabe lo que mamá y papá nos enseñó. Escuchar la experiencia.
4xpipcounter,
Si, tienes razon. Mama y Papa no enseñaron a escuchar. Y mas a los que tienen experincia.
thanx, if what you said is going to be true I am saved or else lets wait and watch…36.43 seems possible.
just went long gbp/jpy…
out at 129.908 because it closed 1pip below an hourly support level and GBP news coming out in 1hr
loss around $80
long usd/jpy 80.96 0.7 lots… feeling confident about this one looks set for a run during london session. OK i now have a total of 1.7 lots Leveraged to the MAX. Also does anyone know if a script for MT4 exists that lets you quickly set Take Profit and Stop Loss on all your positions in the same currency pair ?
out for a $6 loss grrrr
I didn’t want to barge in your thread with irrelevant material, Extract, but I wanted to respond to Mysonucat, as per a previous conversation.
I think the original conjecture of 36.05 (Actual peak was 36.25.) may be it for right now. The market hit a critical R area, and it is overextended, so I think it is preparing for a reversal to the S zone at 35.11–34.95.
“thanx, if what you said is going to be true I am saved or else lets wait and watch…36.43 seems possible.”
Your quote about jumping out of thirteenth floor is as funny as your GECKO avatar. As much as I know there are not many people jumping out of windows these days, Big guys with hedge funds or so chasing thrills on a roller coaster sometimes, but they really do not care whether they burn tons of cash. here’s is the link: Why aren’t we seeing any suicides on Wall Street? - By Nina Shen Rastogi - Slate Magazine. So less movies more reality, also I do not know what should happen to get 500 pips move without fillups, like nuclear bomb from North Korea dropped on the soil of USA or any other giant? I doubt it. Also please be noted it’s not black friday, but black thursday originaly, black friday is when the guys are getting their X-mas gifts.
With all the respect do not want to start a flame war here, and I do agree about stop losses which are not mental. But try to look through different position than yours, I know people who are really happy earning 10% yearly while trading in forex, but wouldn’t it be easier just to make portfolio with the same projected return. That what speculation is about.
City trader’s suicide leap from Hilton | News
Sry, it was the 19th floor.
Deutsche Bank equity sales trader commits suicide
And here it was the rooftop.
Something to read for you, mk3. And just saying, I do not think that is funny. If you google for it, you will find around 10 million pages about traders suicide.
Sure you can make money from fx, if you know how. But not with overleverage and no stops.
Being off-topic once more, first one is kinda drug related, not trading. Second wasn’t trading related also. We all understand that trading is performance related, but loosing 400 bucks invested, even if you must pay additionally 200 bucks to cover losses it wont be end to an life. Even the guy who started this thread agrees it’s a experiment and not encouragement for rookies to try to do the same.
Yea, that is what the press comes up with. Drugs. Unfortunately, they can’t ask him anymore or the others, what his reason was. mk3, you obvisously missed my point. It is not about the 200 or 400 or whatever now. It is about what you will make in maybe some years and lose it all in one day. If somebody makes say a million dollars and believes it works so good for him and he lives on big feet and then booom it goes all down the river in one day. Then he has nothing than big debt because living on big feet and then he can recognize in one day what I say right now: That a system without proper risk control may temporary give big gains, but all just temporary. Until the point where it all crashes. And exactly that is unfortunately the reason why some traders jump. In real life and not just in movies.
Yes in banks the pressure is over the roof. It also more often lagging success in personal lives which brings the guys in banks down, was living in one of financial centers for one year and saw how a young person with a great career, has nothing more than ****ty personal life.
I could not agree that money management, also choosing wisely for RRR can make you a better trader, but I would like to see where this experiment goes. It’s a gamble all or nothing for me in the end. If he succeeds to do that he will have bad trading habits and would be rich, or would stand in the same place after 7 months. And as I have realized to this day breaking bad habits is hard as hell. Ok if we want to continue chatter about this we should move our discussion into a new thread