I’m not saying you’re wrong down the road…have no idea there. i’m taking the other side for 30+ pips, sorry to take other side but i appreciate that you drew my attention to the tech’s of a pair i almost never trade.
Any trade can be right at any moment! So don’t worry about it. Just cut your losses short and let the profit run. 
If only doing that were that easy. 
Why people bother to trade with less than 100-200k? Hobby, or gambling problem?
Maybe some people don’t have that amount spare cause they have families or mortgage/rent payments.
They have to start somewhere. Not everyone has a lot of money so they start small. Someone with $500 earning 5% a month will have over $500, 000 after 12 years. Sure initally earning $25 a month is ridiculous (they really should have another job) but not as stupid as running into the FOREX market with no clue as to what you are doing with $100-200k.
Back more towards your question. For some FOREX is a hobby and some others it may in fact be a gambling problem. But most would just like to know if it is a viable option for them to create a sustainable future investing in FOREX or add a little supplement income. Also there are also the Pros that use it as their source of income but we aren’t talking about them.
I have a feeling that you were trying to spark an argument so if you were please refrain from doing so.
Alexander
Very true!
A learning process may be. You need to be sure you know what you are doing before you can invest that money otherwise you will lose everything. Easily.
And then not all the people have that kind of money.
Also if you develop a system with tight SL based on important levels you can make 20% (even more maybe - or more probably less)
10% of 10000 for example is 1000 and that would help, wouldn’t it?
I wish I took a position in my USD/JPY! I feel like I have missed the train and now it is too late!
Will it retrace? Will it shot for the stars? Am I still on time?
SL moved at 0.9240
Bid at 0.92
You feeling are off. After being in this business for 15 years I will give you another answer: Most retail traders do it because they have not enough money to go to other markets and they have totally unrealistic expectations (e.g. your regular 5% per month rent).
Stop hit! +1 pip
Total: +183 pips
While the result is good so far I missed a lot of easy pips. My trading need to improve a lot. For now I am concentrating all my effort to reduce at the max the risks while improving my capacity to read the market, the fundamentals, the technical and all order flow related.
Sorry about your SL…but you didn’t lose anything. Nice trade management Tras.
I got my 37 pips off my short. On to next trade…
Well done! Happy for you!
I deleted this bid long before it was hit. Should I say unfortunately?
Nice! Good for you Tras…
Woah you have a lot of experience under your belt. Can you teach me? Haha.
Your point of view does make sense, the reason that I could not think of that was maybe my inexperience or that my situation is completely different.
Just curious and you don’t have to answer if you don’t want to, did you initially start FOREX trading due to the lack of capital?
This is my opinion on the 5% a month statement. I think this is possible. Maybe not for 12 months in a year but at least 10 months in the year. But again this is in my experience which is much shorter than yours.
Alexander.
Thanks!
Let’s hope to have a positive week! Almost time to start the warm up!
Long USD/JPY at 98.55
SL 98.35
TP 99
Hey Trasimaco, what makes you think long on USDJPY?
Tapering will probably start in September. Nikkei stable. Also a couple of negative USD news didn’t push the dollar down much last week. It lets me think traders are just waiting for any sign to go long and bring the pair back in 100.
However the Syria situation could maybe weight against the dollar. I don’t really know.
Most probably we will orbit around this level till the Core Durable Goods Orders m/m new.
Hopefully we won’t go down but you never know, maybe traders could decide to take profits waiting for better days.