basic balance is 10,000 usd 10k usd
leverage is 0
indicator to be use is rsi14
only
time frame is 4h
pair eur/usd
entry:
long when rsi14 cross the 50 line to the up side
short when rsi cross the 50 line to down side
PT= 20 pips
SL= 10,000 pips yes all your account
trade rational: stay on your trade until your PT get hit
off course as the leverage is 0 that is mean you are going to trade all your money the 10k or a micro lot
each pip gain or loss=1$
with this plan you will never lose ever unless the moon hit the earth or the 4th world war start up.
and you still can get 5 to 10 % yearly with this plan which is not bad at all as an investment return
now dear skiled poker prince give me a plan like that to deal with poker( not to lose a single hand unless the moon hit the earth)
and then i will admit that i am deluding my self and i will admit that poker is very good way of investing money and its not gambling at all, i will also admit that spot forex market is just a sort of gambling.
I keep hearing the terms professional, learned, hours of learning etc to make currency trading seem less like gambling.
I have spent a long time studying horse racing form, fundamental, intermediate & advanced Texas hold-em strategy. I am at degree level, does this make it not gambling. No.
You are all deluding yourselves if you feel that currency trading is not gambling, it may be educated gambling but it is still gambling.
no dear freind we never see the moon hit the earth before and at least we will be dead at that time
so the chance you are talking about=0
which is not percentage at all
however gambling dear friend is not about the percentage of the wins or losses
its about the way you reach those wins and losses
gampling will not give you any more chance you lose it all or win it all depending on a high degree of luck.
when you lose your capital is gone and you need a new one, and will never learn why you did lose, so you will lose again and again.
the only way to stop losing is to quit gambling.
if you lose on a trade you still have a great percentage of your money to retrade and try again and you will learn the logical reason behind your lose, so you will not do it again.
How ever much you patronise me dear friend, your definition of gambling falls a long way short of the definition that most forex traders are using.
Also your trading example falls a long way short of the way an educated forex trader will trade.
I will give you though an example of how your trading analogy could work in poker. 12 players all with a million pound in front of them, only playing a hand on their big blind & small blind. Only winning a hand on the big blind with the blinds never being raised. Stalemate.
ok as i donāt know how to play poker i canāt judge your playing plan
but i hope it will let all the player not to lose a sigle hand with at least 1% return for each of the players by the long run.
anybody who know how to play poker to compare my forex trading plan with the poker playing plan that daisy suggest???!!!
Ok letās clarify something. Are you saying that once you are in a position, you donāt close it if an opposite signal occursā¦ You just wait for it to come back and hit your tp?
Back a few years the GBPUSD was about 2.11 and dropped oh about 6 thousand pips in a few monthsā¦ I can show you exactly what day in that sequence where RSI crossed the 50 line to the upside, didnāt go 20 pips furtherā¦ And is now 5800 pips negative at this pointā¦ That was about three years, if you had been still holding the position today, daily roll over fees and negative swap charges would be roughly another 2000 pipsā¦ You lost moneyā¦ Based on uncertain odds=gambling
Also a similiar situation occurred on the Eurusd, the current position would be about 4000 pips negative PLUS another 2000 pips in fees for holding a position open that long.
If you mean that you close a position once an opposite signal occurs, and enter the opposite direction, I made an EA when I first started trading that did exactly thisā¦ Itās essentially death by a thousand cuts as you take many small losses and it didnāt profit a single yearā¦ Again losses based on uncertain odds=gambling
who talk about gbp/usd ???
its a plan only for eur/usd or for usd/jpy with a different Tp target
and even if you play it as you said with gbp/usd, you will still have a 75% of your bisc balance after all of the crises you face and the years you are in a trade.
does it sound like anysort of gambling please wake up man ?
i hope you learn something out of this, and thank you i donāt need that sort of knowldge i have seen so many kind of gambling and they are all the same, a poor dream of gitting rich that will never come true at least for 99.9999999999% of the players.
your job now is just to find a plan to play poker just like my plan to trade forex, if you canāt and thats for sure.
then just try to read and learn more and more about trading.
my original post was not for you
but you quote it out and suggest your gbp/usd trade
so now you and your friends catch the poker as the last string between gambling and trading, so i have to cut it.
the english is not my mother language,
our posts is just puplic and everybody can read and judge if its the real barrier, or it is only a try from you
to change the topic of this thread.
Iām giving you a benefit of the doubt that it is just a language barrierā¦ Also if you actually read my post I do give the example about gbp/usdā¦ Which would only have around 25% equity left not 75% like you saidā¦ In that post I also point out that a similar situation occurred with eurusd which would be down to only around 35% equity by nowā¦
You also didnāt answer which way you trade the systemā¦ I asked for you to clarify.
Againā¦ This just seems to be a language barrier. Not a bad thing, hats off to people who know how to communicate in multiple languages, but some things may be difficult to understand outside of ones natural languageā¦ Especially a debate over semantics.
i told you , you need to read more, if you buy gbp/usd with the 10k usd you have in your balance you will buy only a 0.5 micro lot, so your lost according to today prices is about 2k.
anyway, i canāt change other people beliefs they have to change it themselves, the only way i can help with
is just to clarify facts.
yes all your account