Going up from 205.99. Margin is back below 10% useage. BUt ideally youād like this to be under 5% for sure or even 3%.
The best margin management is in the 1%-3% range as ridiculous as it seems.
Yopu run this system for a wehile; and you willlearn that THIS is critical and could PREVENT you from being wiped out on a HUGE run down because your broker sold you out. And sad fact is broker will 99% of the time sell you out 100% and cause you to realize ALL your losses. THis is your #1 enemy
and he has to be thought of as such because I dont care what anyone says
NOR will I provde PROOF many brokers much of the time are taking the trade directly opposing YOU! Your broker will hunt your stop losses amd hence will KNOW where they have to run down to (to take this chumps money).
So the ONLY way you can lose here is inexperience, poor margin management
(to include getting too many too high [TMTH]), and actions you take which allows your broker to sell you out. You cannot trust your broker in that
always have a presence of mind that your broker does NOT have YOUR best interest in mind he has HIS OWN best interest in mind.
The only thing that I will provide as proof and ALREADY have provided as proof on other unamed forums. I have posted hundreds and hundreds of real trades. You longer lookers have seen these and know where they are.
I am not going to cross post anything or put any links. MY previous efforts were to help others get some money to get into thier forex accounts.
Forex for me is not just about making money. Frankly it is exciting.
Sometimes more exciting than zooming down the road in a SUPERCAR
capable of poping wheelies. Forex gets the old adrenalin pumping,
and the money is a nice sideline.
Its sort of like craps from some folks I guess, where if you donāt know the rules and have some clues and completely understand the game you will always lose. WInning in forex is just a matter of being smarter than the banker or broker, And with a little work, enthusiasm and some dedication this is no large feat.
I will take 99% of all banks and brokers fool enough to run down and buy all my longs going into the illusionary pit. The pit was 203.50 last night.
Anyone here get long from 203.50 to 206.00 ? I sold at least one at 206.00.
Or did you sleep through it? Thing is, I make more money when I am sleeping after I have entered my orders! Then while I sleep I review the charts and if I see something, I wake up and close and reopen limit longs at market and/or at 10 pips up or down from price.
I spoke with Jim yesterday on the phone for a while. He has been following my posts since sclapers and he prefers (he is smart!) to scale down like I do,
but INSTEAD of sclaing down INTO the LOW like I do. He scales in as it is going down with his longs 10 pips above price as it is going down.
That way when it hits bottom. He has like no orders and no drawdown.
Then when it reverses up, and heads back north all his orders get filled on entry then sold at TP target as price continues up. THis is sort of opposite of what I do. I guess yoiu can also buy on the way up as price is increasing and scale them up that way like dreamliner but I have not had sufficient time to test Jimās idea, and dreamliners I have been unable to systemitize his way or get it to work for me.
Tracking is a must. I suggested tracking by last digit. I hope everyone understood this so they can implement it. WIthout tracking you cannot adapt and improve.
If you could make 3000 pips a week sitting here watching the market would you? I dont have time for all that entertainment!
Actually, losses are to be expected, eh? I certainly would think that would be a legitimate cost of doing business!