Thank God and thank you. i got this correct once and for all.In other words,the maximum loss should be 20pips based on what you calculated here for 2% of the account?
Daniel.
sounds right, right now i have a 1000$ demo acc. i trade 1$ pips and use a SL of 30 pips. since my pip size is 1$ that means every 10 pips is 1% of my account so a 30 pip SL would be 3% of my account. if i traded .33$ pips a 30 pip SL would be 1%
but yes, you are right 
[B]Trader1000[/B]
There you have it.
So in your example $1000 account 2% of account SL = 20 pips. If you feel you need a larger SL say 40 pips then trade 50 cents a pip and its still 2% of your account. 
I have locked that knowledge in my head for life.
Thank you.
Daniel.
Thank you.
You havent answered my other question on post 2900 about system.
Feel free to critique my system or approach. I am ready to learn and work hard for this one.
Dont see a question here? But anyway if your happy with the 1h chart… well your happy with the 1h chart. 
As I say I trade the daily and if I can be assed hedge on the 1h. If trading the 1h theres no point in hedging your just making your broker richer.
I see PA on GBP/JPY has taken a bounce off the 100 LWMA on the hour TF… now will it hold?
Hahaha…How do i make my broker richer? See,my experience in forex is less than a year.And your are a guru here.I need a critical assessment of my system.I am thick-skinned.So,feel free to express your opinion even if that is not what i want to hear.I want to learn.
OK I’ll try. 
All pro traders use 4h and up… most UP. Check your brokers site and go see their trades. Around half keep a trade open for 1-3 days and the others anywhere from a week to several months. Theres a good reason for this, when you think you have figured out why come tell me.
Robert, reminds me of a story I heard on the farm here: An old bull and his son were on a hill looking down on a herd of cows. The young bull got excited and said, “Dad? you see all those heifers? my God, let’s run down and breed one!” Old bull said, “Nah son, you run down and bred one. I’m going to walk down and breed 'em all.” :D:D
wow has any1 check E/U lately? was lookin to sell off the 1.4435 res. level but didnt go far at all anyone know whats going on? is there some secret holiday idk about?
I got burnt earlier today, beware.
i bet lol idk whats going on are analysts calling for higher highs on E/U?
USD long liquidation is occuring.
You just got a taste of that.
Any USDX technical support levels get violated on the downside and the USD longs will bail out.
Well placed high impact news prints will have a shot to keep the USD longs in.
If that does not work they will bring the hammer out on NFP day this coming friday.
short at 1.4465 - extreme overshoot, 30 pip SL 90 pip TP 30 pip TS well see what happens, wasnt really expecting it to hit so soon
The EUR/USD struck the middle line on the Day chart, I’m in with a sell. Not expecting much luck, EDIT: …and down it went… a little ways to the middle line on the Hour chart.
German Unemployment numbers come out at gmt 8:55 ish - might be the reason EU has been rocketing long this morning, could change direction after news release…
German unemploment news print showed 156.000 more people unemployed. Less than expected.
Because of year-end positioning now completed and managed money taking positions across a variety of markets for 2010 you see an increase of information-flow generated uncertainty.
I don’t trade the first full week after January 1st each new year because of managed money positioning.
There are to many gorillas around this time of the year and I have no intention getting squashed by them.
Yes, like I did, blew a $1000 account from mid December until now. EDIT: This is due to my own sheer arrogance and inablility to overcome my own greed, overconfidence, impatience, and lack of discipline. Not anything being taught on this thread.
Longer term short looks to be setting up on CHF/JPY.