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  1. #11
    One more person fairly new to Foreign Exchange here.

    I have stopped having the problem that you describe, but if you go through the progression I have been going through, you will realize there are other and different problems ahead of you. I find that I'm making lots of pips from lots of great trades EXCEPT I am often getting out of great trades too early, occasionally staying in poor trades overly long, and fairly frequently lacking the confidence in yourself to await a trade to mature while it goes against me to get a few of pips or just very slowly gains only a couple of pips. Timing is one of my biggest problems.

    I'm open to any sort of advice on the best way to cure these problems and I suspect they are fairly common probems and reflect a phase in the development of several traders.

    I understand that part of my difficulty is that I'm financially challenged which makes me overly careful. I am certain that curing my fiscally challenged condition will correct this. It prevents me from placing my ceases in which they ought to be because I can't afford to lose that much. I'm pretty certain that this part of my difficulty is lack of finances because when I paper trade with stops where I believe they ought to be I do well and do not get kicked out of great trades.

    I'm not certain that there's a cure for my own problems but I'm open to any and all suggestions.

    I'm currently using an range of technical indiors to direct my trading, in addition to buying and selling pressure because a further confirmation.
    I occasionally exchange the news, and when I do I just occasionally do nicely, again time is an issue.

  2. #12
    Quote Originally Posted by ;
    I know that a part of my problem is that I'm financially challenged making me overly careful. I am sure that by curing my condition that is fiscally 8, this will be fixed. It prevents me from placing my ceases since I can not afford to eliminate that much in which they ought to be. I'm pretty sure this portion of my problem is lack of funds because when I paper trade with stops where I believe they ought to be I do well and don't get kicked from great trades.
    Moonchild,

    I am by no means an expert at this but if you are not putting stops where they ought to be then you need to adjust (lower) your lot size to allow you to utilize the stop place you would like to.

    I believe that will help you alot.

  3. #13
    I concur with what you imply except I have almost never traded more than just 1 or at most 2 mini lots. It's more difficult to get smaller than that.

    By the way, there is 1 indior which I have been hearing about but have not researched, pivot points. Could someone explain that to me?

    I have been on the lookout for sources of information regarding day trading procedures and have attempted to look up FX10 and bunnygirl with no luck. I would also like to find out where to start about the vegas system. I keep coming across references to it but would like to start at the start. Could someone guide me toward the right loions? Thank you

  4. #14
    Quote Originally Posted by ;
    I agree with everything you suggest except that I've almost never traded over just 1 or at most 2 mini lots. It's harder to get smaller than that.

    Incidentally, there's 1 indior that I've been hearing about but haven't studied, pivot points. Could somebody explain that to me?

    I have been on the lookout for sources of information regarding day trading procedures and have attempted to look up FX10 and bunnygirl without any luck. I would also like to discover where to start on the vegas system. I keep coming across references to it but would like to start at the beginning. Could someone guide me? Offering you
    Pivots are a set of support and resistence points that the market will congragate around. They were still heavely utilized from the pits and on the floors of the majority of exchanges, as they're quick to compute. They operate, since lots of traders utilize them, pure and simple. Personally, I think they do not get the job done a great deal more than about 50 or 60% of the time.

    Within my charts, I've written mathmatical formulas to create these pivots and they're readily available with a Google search.

    The m1 through m4 pivots are only mid points between the other main pivots, that I have seen price congregate at.

    Have fun with it. . .SMJ

    Here are the formulas I've come up with:
    pivot = (DayClose DayLow DayHigh) / 3;

    s1 = 2 * pivot - DayHigh;

    r1 = 2 * pivot - DayLow;

    s2 = pivot - (r1 - s1);

    r2 = (pivot - s1) r1;

    m1 = (s1 - s2)/2 s2;
    m2 = (pivot - s1)/2 s1;
    m3 = (r1 - r1 ) / pivot;
    m4 = (r2 -r1)/2 r1;

  5. #15
    Quote Originally Posted by ;
    I agree with what you suggest except I have practically never traded over just 1 or 2 at most 2 mini lots. It is harder to secure smaller than that.

    By the way, there is one indior that I have been hearing about but have not researched, pivot points. Could somebody explain that?

    I have been looking for sources of information about day trading methods and have attempted to look up FX10 and bunnygirl without any luck. I would also like to find out where to start on the vegas system. I keep coming across references to it but would love to start at the beginning. Could someone guide me toward the right loions? Thank you
    oops, one amount was dropped.
    The m3 = (r1 - pivot) /2 pivot

  6. #16
    Quote Originally Posted by ;
    I agree with what you suggest except that I have almost never exchanged more than just 1 or 2 at most 2 mini lots. It's harder to get smaller than that.

    Incidentally, there's 1 indior which I have been hearing about but have not researched, pivot points. Could someone explain that to me?

    I have been on the lookout for sources of information about day trading procedures and have tried to look up FX10 and bunnygirl without any luck. I would also like to discover where to start on the vegas system. I keep coming across references to it but would love to start at the beginning. Could someone guide me toward the right places? Thank you
    I also believe there's an excellent discussion of Dow Theory and a very simple procedure of entry and exit that is clarified by MuddBuddha in this very forum in a different thread. You should go read that one. You cannot go wrong with the earliest method of trading there's. It still functions today.

    SMJ

  7. #17
    Quote Originally Posted by ;
    One response is that the market breathes. It exhales and inhales. So let the market breathe, or it ebbs and flows it is just natural for it to do that. Just go with the flow, and do not use 200 pip stops. Great luck and welcome.
    Thank you bluemonkey...
    yes I noticed that couple hours ago when I tried to input the place ( I have two different accounts - demonion off course ) it moved up - went I enter short and moved down - when I enter long ( which in this case I have to remain on long because the entire or for the interest of trend says that it ought to go long).

    The dilemma is how much is just how much for SL on the small/mini account... because according the principle out there never surpass 1% or 2% (that makes only 10 dollar or 20 wouldn't it? Since I used only $2500 fake money... ) well lets say I played both account (small and regular account)... on a single I am prepared to lost around $100/$200 but if on another account is $10 or $20. On the mini account has a big chance to get whipped out readily compared to the standard account because I can use small leverage on conventional account... correct me if I am mistaken.

    Still astonished with this game and getting addicted day by day. . Thanks by the way.

  8. #18
    Quote Originally Posted by ;
    Seems like a big portion of the problem you're getting is that you don't have enough money to trade with. If using a bigger stop loss will set you outside your 1-2% risk level, then you either need more income, or you require a broker with better granularity; or even the ability to take smaller positions.

    For example Oanda (http://www.fxtrade.com/) lets you trade as small as $1, whereas a mini-lot in most other brokers is $10,000. If you can not find more money to trade with, you may choose to take a look at this type of broker.
    ================================================== =======

    Darkstar,
    thank you for your suggestion... I understand my problem is that the capital/money that I am using is really minimal, though I do believe that the payoff also will be minimal too as well.

    But I believe that if I have a fantastic trade, fantastic MM and right timing would that help a lot? In addition, I think if additional can make money from it, would not others able to make it too as well?

    The problem is the majority of the time people don't want to understand and willing to have a risk also lacking of knowledge and objective (ie: large expectation from the little investment)

    I am glad I found you guys here at FF, in other forum I'd be bashed around as well as get more confused. Thank you for you all...

  9. #19
    Quote Originally Posted by ;
    Halo folks,
    I'm new with this particular Foreign Exchange match also I have a question about Foreign Exchange world... why everytime I enter the position, either short or long, the problem is always against me... say if I enter long, the market goes short and vice versa. .
    Could anybody just explain to me please... the simple one please. . I'm learning to follow the trend kind of methode instead of working with the specialized analysis methode...
    thanks
    That's what common sense states in this game. . .When you follow logic, what's generally ending up and reversing. . .If you are experiencing this on a demo account, and I think you Are Only placing your feet on the right path, because you now know what does not work for free...


    Thanks,

    Nader

  10. #20
    Quote Originally Posted by ;
    That's what common sense says in this game. . .When you follow logic, everything is generally ending up and reversing. . .If you are experiencing this on a demo account, then I think you are only placing your feet on the right path, because you now know what does not work at no charge...


    Thanks,

    Nader
    Great Point... Demo Dollars can't cover the rent, but they don't cause bounced rent checks either.

    SMJ

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