Hi Ray.
For 90% of traders, 5-10% p.m. on a regular basis is unachievable, otherwise we wouldn’t have the huge failure rate we get in forex.
Secondly, most traders would be happy with 60/65% win rate, 80 is stretching it a bit.
Thirdly, traders rarely have wins and losses of the same value. Fear, greed, other emotions, mean many don’t let their profits run as high as they could, whilst they seem to freeze when in a losing position instead of cutting their losses.
Hope that helps
Closed second GbpJpy for +320 pips.
Have opened another GbpJpy short at higher price of 147.41
nice one!!
ANOTHER BREXIT POLL SENDS GBP/USD TO DAY’S LOWS – MARKET TALK
16 June 2016, 14:20
1120 GMT GBP/USD falls 0.7% on the day to hit a low of $1.4099 after another opinion poll points to growing support in the U.K. for leaving the EU ahead of next week’s referendum. A Survation poll shows 45% in favor of ‘Leave’ and 42% favoring ‘Remain’. This adds to a string of polls which put ‘Leave’ in the lead. Just before the poll was released, the Bank of England announced a unanimous decision to hold rates at 0.5%, which had little impact on sterling. The minutes warned a vote for Brexit could see a sharp fall in the pound and hurt the economy, leading to higher unemployment. ([email protected])
Contact us in London. +44-20-7842-9464
<[email protected]>
(END) Dow Jones Newswires
Wow thats shocking, it really shock me. Did you say that 90% trader get less than 5% per month? Sorry, it is not that i dont believe you, i just make sure you dont miss type.
Are this 90% profitable traders? Sorry i ask you this many time, because i need to know what path is infront of me.
Hi Ray.
Depending on who you speak to, its estimated that between 80-95% of new traders will fail and either blow their accounts or close them when they see how difficult it is to make any money at all.
It can take years before one is making consistent monthly profits, its certainly not the path to easy riches that brokers and training course providers suggest in their marketing.
I believe a number of these could have succeeded had they prepared themselves with an education in forex, for example at the school here, and if they employed money management and a trading plan.
thanks Eddieb, I will take your advice
Long GbpNzd @2.0275 with a stop at 2.0250
It has been choppy-choppy
between 2.0 and 2.02 for days,
plus/minus a few pips either side
of those…
Nothing much seems to be going on
with Cable or Kiwi-Dollar either…
Hence the uncharacteristically tight stop loss. If it continues up, great, if it falls back its only a small loss. Worth a punt
Oh well, it did fall back on the end. No harm done but it’s ended a 20 trade winning streak.
Don’t expect to enter or close any trades today. Good week, over 50% up as we stand
Nice one!!! Yes, your tight stop was good and proper. You can enjoy the weekend now!!
Maryo Cairo is also worth a look, but you need to understand his chsrts as he doesn’t use much English.[/QUOTE]
[/QUOTE]
Hi edd
Any tips on Using Maryo’s charts ?
Hi edd
Any tips on Using Maryo’s charts ?
[/quote]
Hi
In the chart above, Maryo is suggesting entering the trade (selling) when price returns to the grey area (note: sometimes he colours this blue or red, not always grey). The blue diagonal line is the direction he expects price to move in.
Red is his stop loss position.
Green are the Take Profit positions. He often offers more than one so you choose depending on how much risk you can take in accordance with your own money management rules.
Cheers edd
Much appreciated. I’ve been looking at a few ideas to work with.
DOLLAR, YEN FALL AS BREXIT FEARS EASE
20 June 2016, 17:05
By Chelsey Dulaney
The dollar and Japanese yen tumbled Monday as investors’ fears over this week’s U.K. vote on European Union membership were eased by weekend polls.
The pound rose 2.2% against the Japanese yen to Yen152.77. The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, fell 0.6% to 85.47. Both the yen and dollar had benefited recently from demand for assets seen as safe.
The U.K. votes Thursday on whether it will remain in the European Union. Two polls released over the weekend suggested support for the ‘Remain’ camp is gaining ground. That drove sterling up by more than 2% against the dollar on Monday, putting the currency on track for its strongest one-day rally since 2009 and the financial crisis.
Still, “these polls are all pretty close,” said Alvise Marino, a foreign-exchange strategist at Credit Suisse. “That will keep investors on edge.”
Meanwhile, investors also prepared for Federal Reserve Chairwoman Janet Yellen’s semiannual monetary policy report to Congress, which begins Tuesday morning. Last week, the Fed kept its interest-rate policy unchanged. Investors will look for hints on the Fed’s future plans for interest-rate increases in Ms. Yellen’s comments.
“New policy signals are unlikely to be delivered, but a combination of mixed U.S. data and a dovish Fed should weigh on the [dollar] going forward,” analysts at BNP Paribas wrote in a research note.
Mike Bird contributed to this article.
Great article, Eddie 
Also, this:
Hi Pip.
Have you got much on at the moment?
Ive pared back to just 2 trades, lomg gbpnzd and short audjpy, up on the former but down on the latter