Ohh. here we go again… hehe
You’re being a comedian huh… hehe
i think you’ve missed what i tried to say again
you seem to have a habit of taking things out of context
of course it depends on your strategy , me and you know this, HE DOESN’T
so my comment is directed to a newbie, not to someone like you who knows better ok
and therefore the WAY I SAY IT is catered to him
if it was you, it’d be a different comment
Hope that clears it up
Mate, i’m getting this funny feeling that you want to tell me that i’m a firetrucking idiot
(as is evident by your comments) hehe
Mate, if you feel that way and that’s your personal opinion SAY IT, I won’t get offended,
but DO ME A FAVOUR, and tell me why, have that courtesy
Feel free, as opposed to throwing little comments around that can last forever and just create bad blood.
come out with it, feel free ok
Martin, I have made a comment, which you seem to want to take personally.
My reasoning is ;
EURUSD Has been range trading between about 1.1550 and 1.1950 for a good many weeks now.
A 60-70 pip stop loss is well within the daily range on this instrument, whereas a 400 pip stop loss in either direction at any time, puts you outside that range. If your SL gets hit, you know you were wrong.
Whereas with a 60-70 pip stop, there is every chance that the SL will get hit and then the direction reverse to show that your failed bet would have been successful. It happens frequently. But every time you get a SL hit, it Locks IN a loss of cash to your account. That means you willl have to get a good successdul bet, just to recover some of what has been taken away, when you could have had 2 profitable bets.
Over the past weeks almost any bet within the range 1.1630 to 1.1895 would eventually have made a profit. But how mant have lost money because their stops got hit ?
I am not “being a comedian” here and I am beginning to get the iimpression that every time I disagree with something you have said - you are taking it as a personal attack. I cannot control how you choose to feel about my comments - and would not wish to. That is your choice, but please stop implying that I am “picking on you” for some reason.
[Edit a 400 pip SL at $0.10 puts you at risk of $40 - and will only get a suprise hit in a “catastrophic situation” on this particular pair in current circumstances. ]
first of all before you read this… do me a favour,
calm down and read it with a Neutral frame of mind… ok
NOW, I’M GOING TO BE 100% HONEST WITH YOU… OK
I’m going to sort this out right now
this is a big misunderstanding, and i know how it can be sorted,
Look…
No… When i said to you [quote=“Falstaff, post:31, topic:125116”]
Ohh. here we go again… hehe
You’re being a comedian huh… hehe
[/quote]
What i i was trying to do was lighten the situation
that’s why i put the “hehe” in their
Now. PRIOR TO THAT COMMENT
and YOU KNOW this is a fact
You made a low blow and a comment about my wife
Now,… i didn’t take that too deeply to heart, but i know why you said it, and so do you
Now, let’s be frank
HAD YOU NOT HAVE SAID IT
i would not have taken this comment the wrong way
can we agree that Family should be kept out of the discussion.
Now let me address this
thank you for providing reason, I GENUINELY appreciate it… ok
and it’s good to see that IT’S MY FAULT FOR MISUNDERSTANDING YOU
but i was confused because of that previous comment that involved my wife
and also the fact that you just came out at me for giving that bloke advice about his son
can you see how these things connect , and can you see how i would make a few assumptions and be a little cautious with you
now let me address this
Mate, HONESTLY AND SINCERELY
No… I don’t take it personally if you disagree with me
Now let me say this as well,
i notice a lot of people ASSUME THAT I WOULD, sure, i get that
but i’m not , not just for a mere disagreement… NO WAY so… that’s sorted …right
FEEL FREE TO DISAGREE WITH ME (Just don’t be rude and insulting) but , disagree all you like.
i don’t take it as a personal attack.
You cannot control my feelings, thats true THAT’S WHY I’M TELLING YOU HOW I FEEL
that being… I don’t take disagreement personally like other people. ok
so that’s sorted
now as for PICKING ON ME … FOR SOME REASON
mate, … hehe
Really ?? some reason
ok, Every one is allowed to explain themselves and defend themselves
do me a favour
Explain the Attack on me regarding you mentioning my wife and that you believe she had a job that was NOT THAT IMPORTANT
How would you have taken that ? by the way
if i said something about your Wife or Mother or sister
so… it’s not for SOME REASON
there was a GOOD REASON
but, this can be sorted very easily
AS IT STANDS NOW
I Respect your willingness to work it out
I’m not angry
I accept that in this post you have brought it to my attention that i have misunderstood you and your intentions.
i therefore apologize for calling you a comedian, although my comment was not intented to offend you… IT DID.
for that i apologize
but i have also explained to you WHY IT WAS DONE… right
Mate, i can forgive and move on… No Problem, I just need to know we are going to be cool and stick to the topics
I’m also giving you a heads up, FEEL FREE TO DISAGREE WITH ME WITHOUT ANY FEAR OF ANY ATTACKS
but BE CLEAR ON THIS…
When you disagree Disagree
Don’t Disagree and throw around Low blows, because we all know what it means ok
THAT’S ALL I ASK MATE
TREAT ME WITH RESPECT, I’LL TREAT YOU WITH RESPECT
No… i didn’t RECOMMEND.
that was a Hypothetical scenario that was supposed to illustrate that MORE PIPS would have been better.
it’s not like i said
"I Martin Kuliza hereby declare that the OP SHOULD DEFINITELY use Precisely between 60 - 70 pips"
that’s not what i said or meant.
you took my comment with too much weight
I understand
and i didn’t give a RED HERRING of a post, i gave MY REASONING AND EXPLANATION, Just like you did
Why is your reasoning, called Reasoning
and my reasoning is called a Red Herring
I know and i’m not trying to be mates with you, I’m just trying to get along
and i already said all this Regarding being professional and businesslike
but, is it BUSINESSLIKE to bring someone’s family into the discussion
Example, if me an you worked in an office in Accounts or something similiar
and you made a comment about my wife or family.
isn’t it reasonable to think that…
a) Friction would be created in the workplace
b) Eventually you’d be called to the manager’s office
c) You’d be re - educated and told not to refer to the family members of other staff and that your comment was innappropriate and not relevant in the workplace
THAT’S CORRECT… RIGHT ?
so. i agree
let’s be businesslike
but you were not being BusinessLike
businesslike means - focus on Forex, you are free to disagree with me and i won’t be bothered about it.
but Family doesn’t come into it, Nor should Rudeness
so… I AGREE TO THOSE TERMS
let’s be Business like
you wanna do that ?
Thank you martin.
I have another question let me say I enter a trade…
Audusd
Ask price 0.7638
Bid price 0.7643
Since I’m long I’ll be using ask price as an entry point???
My balance is 100usd I’ll be risking 1% which is 1usd
Pip calculation
0.7643-0.7638 =5
Now to check cost per pip
1÷5=0.2
Which means is 2usd cost per pip???
Let assume I’ll be using micro lots, how do I convert 2usd to lot size 0.00???
Since cost per pip is 2$ which means if a trade goes my way I’ll reward myself with 2$ profit???
QUESTION : Where are you putting your Take Profit ?
QUESTON : Where are you putting your Stop Loss ?
to answer your question
ok, i’ts like this
0.01 Lots = 10 cents per pip
0.1 Lots = $1 Per Pip
1.0 Lots = $10 Per Pip
therefore $2 Per pip is merely $1 Per pip (0.1Lots) x 2 hence 0.2 Lots
but that aside
this doesn’t make sense
Because Your risk is 1% right (Aka which is $1) total for the trade
yet you are trading at $2 Per pip
HEADS UP MATE
since you only have $100 in your account and you are trading at $2 per pip
let’s say you put your Stop Loss 50 Pips from the entry and your stop loss gets hit
YOU LOSE $50 (50% of your account IN 1 TRADE)…Not Smart
and it’s gonna be more
because you have not calculated that NOMINAL REQUIRED MARGIN for the trade
so Let’s say on AUDUSD the Margin is like approx $100 THIS MEANS TO START THE TRADE you need to invest $100
You’d be stuffed
let’s say for example that the NOMINAL MARGIN is $50
Now… YOU THINK you are risking 1% of $100 right… WRONG
After your intial investment into the trade, you are only left with $50, hence you need to calculate 1% of $50
so it’s actually 50 cents at risk, Not $1
and then you have to factor in your account Leverage
Mate, BOTTOM LINE IS… Starting with $100 is not going to work, ok
but as for calculating the Lot size
THEORETICALLY, your answer is 0.2 Lots = $2 Per pip
It sounds to me that you are not actually “Trading” in the way we normally “Do it”
Are you betting "Binary Options " ?
If you are, Then you will not bank “$2” for a “Win” - In my “broker” they pay a lesser % for a “Win” than they take for a “Lose” so you would “Win” something like $1.60 or “Lose” $2 and I’m not sure the “Spreads” work the same way on "Binary options " either. - I tried them on Demo - and I don’t like the fact that the price has to be +/- at a certain “Time” either.
Trade Demo until you “Get the feels” of what you are doing - It will likely save you at least $100
@Gabriel1 That’s a good point that @Falstaff is making.
Please note : i am assuming that you are talking about Trading Forex,
I was not assuming that you were Trading Binary Options, that’s a different kettle of fish
so… Which are you trading, Forex or Binary or something else ?
Yes it is. But maintain small risk for all time is not possible at all, because most of the time market moves at random and we can’t predict accurate risk ratio with certainly, problem is here.
Thank you guys for your support. I can’t call all of you by your names.
I now makes some good profit and maintain my losses.
@anon81929759 I trade less than 0.5 and I also trade when London opens and close my trade after the U.S market is opened when my profit are good.
I placed a trade EURJPY lot size 0.06 and I made 61.32 USD. I guess that’s boujee. Yes I’m a trader I sometimes make losses I admit when my guts tells me that I am wrong I close my trade.
I also opened another trade with 0.83 lot size I made 226.11usd. I guess I’ll reach my dream of buying myself an Mac laptop its coming to reality because sometimes using a smart phone it’s a big limitation. I am not yet profitable trader but I guess I’m on the right track with babypips.
Very interested discussion, how to put stop loss and target profit, might different trader also have different risk on every plan trading, many expert said better take small risk in trades less than 5% from all capital, but not all trader like using stop loss, but will calculating risk with look amount capital and also lot size that will be used, especially long term trading plan some trader using martingale system or averaging system
Just to put the cat amongst the pigeons, I’m bound to say I don’t use take profit orders. Why would I want to get out of a position that is already say 100pts up and still rising? I would surely want to go to 120 then 140 then 200 etc. etc., and the chance to keep pyramiding as it goes.
And if you say, well, price isn’t trending and the chart pattern I used to get in predicts that the rise will end or hit resistance at +100pts - I would ask what the heck you are trading this rubbish chart for?
