2013... Make or Break time

[KORAXS]

Hello everybody!

Here is a little information about my previous trading.

Started trading forex last year. Started with a few $250 micro accounts that I blew. Demo traded for a few months and did very well, got my MM in check and believed I had the holy grail After my presentation I went live with a $1000 account, had a draw down to $500 in the first couple of months and then back around $900. Stopped and demo traded yet again for a couple of weeks. Started live back on 11-25-12 together with my 900 and had another draw down, this time to $400 and brought that back to $800.

So here I'm in 2013 starting fresh and get a $3000 account. Started reading a lot of great books and actually got my MM in place and my emotions in check for the second I just got back from the shop and purchased a couple of items for my trading desk, dry erase board, notebooks, journal etc..
I am am taking this as serious as anybody can.

So I am 24 and would love to be consistently profitable in the next few weeks and hopefully make a living out of this in the not too distant future!

I trade mainly the eur/usd, sometimes other pairs. I love to swing commerce and at times a few scalps during the day.
Risk is between 2-4percent with sometimes upping it to 5 percent with a confident sign.

[KORAXS]

Hi Bob

Thanks so much.

I was a miserable failure at price action trading (for nearly 3 decades!) Which is the reason why I've changed my trading egy entirely. If you want to get more info and a few trading results on my magic breakout EA just PM me and I'll send you the specifics. Don't know how much time you need to see the charts but some time ago I realised that I just can't be seeing them from 7.00am to 7.00pm everyday and if a person does not, how often one misses that all significant move! That's why I'm heading down the VPS and automated path. Couldn't...

I operate m-f, early, 6am to 1pm. So I do miss the energy hrs unless I'm trading on my iphone which I hate and usually wind up losing on trades like that. I typically place on my trades at the end of the day and begin of oriental markets. I'm quite opposite with the PA, indiors have a tendency to make me think things. I would like some advice on your system it sounds quite intriguing. I do not use MT4 however. .

[KORAXS]

I respect your opinion. Thank you

98 percent of the time I'm at 2% risk. I should of worded this better, when my risk increases it is simply because I add to a fantastic trade. I never had a single trade take away over 5% of my account.

I also agree that when I first started I was trading around 5% which was back when I was learning what and I am grateful it was only small amounts of money once I learned those mistakes. It'd keep me up at night and have me worried all day. That is my downfall and I'll overcome that and I have begun.

[esngoSesji]

Trade outlook for 1-1-13

Once people digest this fiscal BS I'll get a better direction in mind.

As of right now I am watching 2 important amounts

current price 1.32032

Sell under 1.31604 Pivot down at 1.31652
Buy above 1.33028 Pivot upward at 1.32558

Until is broken I think we'll be bouncing between these 2 degrees.
My 2013 out search for the eur is bearish.

That I will try to post my trades daily. I hope everyone enjoys this thread! And I wish everybody a very profitable year!

Hi Bob

so far as the EU outlook is concerned,

Had similar experience as you with dismissing numerous accounts - bigger balance though doesn't help with being more effective - trading microlots is a much better idea - not use that large leverage unless you are trading using 50K or more!

Would counsel to check at more then one trading pair. Last Friday was a good example - EU was nearly impossible to trade whereas GU, EJ, CJ as well as EG were all trending nicely.

What egy do you use?

Regards

Jerry

[KORAXS]

Hi Bob

so far as the EU prognosis is concerned,

Had similar experience as you with blowing numerous accounts - larger equilibrium though does not help with being more powerful - trading microlots is a far better thought - never use that high leverage unless you're trading using 50K or more!

Would counsel to check at more then one trading pair. Last Friday was a fantastic example - EU was almost impossible to trade whereas GU, EJ, CJ as well as EG were all trending nicely.

What egy do you use?

Regards

Jerry

Hi, Jerry. Thank you for the answer!

I never trade a complete lot, largely involving 20k-40k units. Leverage is set at 50:1 currently...
I am happy you enjoy my eu outlook However we're at a really critical price point , where it could fly either way but by taking a look at the large TF's I really do see a down year, honestly it shouldn't be as large as it is now.

I really do trade different pairs on occasion, actually all the ones that you mentioned. And I will do so when the liquidity is not from the eur/usd.

My egy is mainly PA, I draw my own levels on the daily chart and move from there, using fibo occasionally. I trade on the daily/weekly charts and look for entries all of the way down to the 5-15min tf's.

R:R is generally 1:2, 1:3... I just got done reading your thread on the magic-breakout, it is quite interesting and I want you best!

[esngoSesji]

Hello, Jerry. Thanks for the reply!

I never trade a full lot, largely involving 20k-40k units. Leverage is set at 50:1 currently...
I'm happy you enjoy my eu outlook But we are in a very critical price point here, where it could fly either way but by looking at the massive TF's I really do see a year, frankly it shouldn't be as large as it's now.

I really do trade other pairs on occasion, really all of the ones that you mentioned. And I'll do this whenever the liquidity is not from the eur/usd.

My egy is largely PA, I draw my own amounts on the daily chart...

Hello Bob

Thanks so much.

I had been a miserable failure at price action trading (for almost 3 decades!) Which explains why I've altered my trading egy entirely. If you would like to get more info and some trading results in my magical breakout EA only PM me and I will send you the details. Do not know how much time you need to see the charts but some time ago I realised that I just can't be watching them from 7.00am to 7.00pm regular and when a person doesn't, how frequently one misses that important move! That is why I'm heading down the VPS and automated route. Couldn't before because I didn't have a reliable EA but now I do it's all systems go!

Rgds

Jerry

[esngoSesji]

I work m-f, ancient, 6am to 1pm. I do miss the energy hrs unless I'm investing on my iphone which I hate and usually wind up losing on trades that way. I typically place on my own trades at the close of the afternoon and begin of oriental markets. I'm quite opposite with the PA, indiors have a tendency to make me over think things. I'd like some info on your system it sounds really intriguing. I don't actually use MT4 however. .

Oh I see.

I'm sure my indi's and EA, etc., work on MT4 only.

Should you start using MT4 Later on, do let me know but I wish you a very profitable trading

Can keep in touch

Best Rgds

Jerry

[KORAXS]

Oh I see.

I'm convinced my indi's and EA, etc., operate on MT4 only.

If you do start using MT4 in the future, do let me know but I wish you a very profitable trading

Will keep connected

Best Rgds

Jerry

Yes I started out with Mt4 but didnt care for it, but it will seem to be the most popular platform.
Stop in here regularly and see my progress , also feel free to pm me any time with commerce thoughts etc.. .

[KORAXS]

Levels I'm currently watching. . The lines were drawn on a weekly tf so should they seem a little off thats the reason.

[CoSesnugrescesyoscabesr]

Hello everybody! ....Started with a Risk is between 2-4percent with occasionally upping it to 5 percent with a confident sign.

IMHO, that is already your first major mistake, one which your prior bad encounters should have weaned you off of. In other words, there is no such creature for a sign which carries more confidence than any other.

Need evidence? OK, so let's break it down: You require a commerce with maximum risk allotted since it was among the'confident' signals -- and still your SL is hit. Where does that leave you (besides deeper in the hole)? It leaves you questioning your egy; it leaves you in a perpetual state of anxiety; it renders constantly second-guessing yourself. Why? Since you're placing WAY too much into your so-called ability to read the markets. You simply risked double your ordinary, because of the'ability' to pre-determine sign confidence which lulls you into a feeling of false-confidence, and still you lost.

Simply putyour trading won't ever take off till you understand how to remove your self from the equation 100 percent of the time. The moment that you begin caring about a trade, is the first sign that it's already hurt you.