 |
|
Equity 699.08 out of 654.08
Started little late but went well. Today's London open session was quite non-bluffing and was easy to filter false breakout. It seemed like quite a classic breakout from the previous day's asian range Although I began late I managed to bag-in 30 PIPS. Have a fantastic weekend!!
Have not seen you post to the thread at a tiny while..hope what's fine. It seems I have had exactly the very same experiences as you with FX. Hope everything is okay!!
Thank you for considering my Journal. Yes everything is fine with me. Was little occupied with a few movement. I was trading well and am still studying. Meanwhile, since I had been working on this DEMO diary, I started a small live account to get the real sense of the market and belive me guys, the real sense is really the true feel. BUT DEMO IS ESSENTIAL BEFORE REAL.Originally Posted by ;
Well on demo: My equity is now 1014 (up from 699)
The feel for real: That is true money and that is what brings out in us our authentic self. Yes! FOREX is Wonderful
Surviving down the draw is the major key here. This is my super warning to noobs (which I am still) that make use of high leverage on M1 and M5 or M15 time frames. From my live account I've learned that trading little lots on greater TFs is the only approach to holy grail. If you think that you could do with 10 minilots or 30 minilots using 1000 bucks and make a lot of cash and spend entire of your day enjoying golf, may be by the time you come back from the sport, drawdown have killed you. I believe staying within the market is the only key here.
Just read through your thread here and I like everything I see.
While I am new toforexforum.co.zaI am not a new trader.
I have discovered that taking the time and using the longer time frames is the simplest way for the newer traders to go.
I nearly never trade with less than an hour chart and at times only off the daily chart.
Keep up the Fantastic work!
I really hope to see more from you soon!
Thank You Fireking. Really true that smaller timeframes would be the killers for retail traders. Well at some point it seems just like that there is no logic in this market and it's only betting. Time and timing are two critical components of entering and exiting this market. Some times it's so tough to make 10 pips a day and other times you will find eloquent 100 pips in. Well the changes in my personal practice. I've ceased overtrading because liquidity Won't Ever end but I might when I trade a lot
agreed.
considering multiple time frames particularly the larger ones could tell a trader why their signs were faulty or a sudden price move. In case a 5 minute chart shows a bull breakout, it won't go if the hour and daily are screaming bear.
For this week I think that extended on EUR is appropriate. I just opened 0.2 minilots predied in my bollingerband egy (well I'm still testing it). Seems like It Is Going to atleast retest near its previous high
Do you think this week can nevertheless long on EUR? Or this wave appears to finish? Thx very much!
The price went back to test but till now seems like failed and heading for a retest. The momentum is near finishing if we compare the motion to usd/chf. I think that the bull position however still somewhat legitimate is very risky. In the middle of Mr Bernanke lined up at 8:30 AM EST and nearly shooting star on 1 Hr framework, I shut my 0.2 minilots with 50 pips profit on live account and today will wait for second move.
Posting Permissions
Reply With Quote