Hi
When you specify limits or stops, does it always work.
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Hi
When you specify limits or stops, does it always work.
Marike says, "Hi Sylvester, I am a south african girl and very interested in learning how to trade forex. Is there anyone in Johannesburg or website that can teach me the basics in trading because I have NO experience. Thanks Marike.". Hi Marike, sorry I'm in Lagos,Nigeria and am not yet familiar with anyone in johannesbourg,SA that could teach you the basics...You can try www.babypips.com, and www.forexfactory.com, where some forex basics are posted. Thanks once again. Maximum wrote Hi Sylvester, I was watching your alpari account that you provide on your site and I was like very surprise when I saw that the account when from 9500$ to less then 7000$, what happen, there was a big loss of 1000$ for one trade, could you explain to me please.... thx Max Helloo Max, Thanks for your mail...The drawdowns were brought about by my divided focus lately, for I'm about completing my new forex book which has a deadline of a couple of weeks. This new project, which had been postponed so many times earlier,has taken up my time for dedicated trading...like a tradeoff, I might have to suspend market action for a short period in order to fully concetrate on the task at hand...which is writing and publishing this expository manuscript, without much external distractions. So max, dont worry,once my new project is completed, I;ll pick up from where I left off, presumably in a month's time...so as to give my usual undivided focus back on real time trading.. Thanks for your concern, my friend....please ask any questions or comments you might feel like communicating in the meantime..Honest Injun, no padner...nothing always work all the time...remember we are living in an imperfect world...the only method to mitigate against unnecessary losses from trade entries and exits, is proper risk/money management and discipline. http://news.yahoo.com/s/ap/20090415/..._ec_fi/economy [09 15/04/09] Learning_pips : hello...hi stallion are u there [12 15/04/09] Stalion : helloo paul,Learningpips [12 15/04/09] Stalion : we put a sell stop on gbpusd @ 14950 [12 15/04/09] Stalion : 1st target @ 14928....2nd target @ 14902...50 pips sl [12 15/04/09] Paulfx : hello stallion [13 15/04/09] Paulfx : 1st target reached - closed out 1/3 of positions moved sl to BE http://i62.servimg.com/u/f62/11/82/15/01/wedgud10.gif [13 15/04/09] Stalion : cool [13 15/04/09] Stalion : how many minilots are you using,paul? [13 15/04/09] Paulfx : stallion how did you come up with the 1.4950 as entry? [13 15/04/09] Paulfx : im only doing .3 right now until i get familiar with system then will move to 3 standard [13 15/04/09] Stalion : on how much equity? [13 15/04/09] Paulfx : $3k right now with the minis [13 15/04/09] Stalion : hmmm....you see, in trading, we know that risk mgt is very important,paul...so if your risk or potential oss does not exceed 2 to 5% of your total equity while trading, you might use standard lot... [13 15/04/09] Stalion : the entry points are also important as the risk mgt factor....how much can I stand to lose if my entry is not accurate or if my timing is not precise... [13 15/04/09] Paulfx : i will have to review those figures looks like my $3k would not be enough right now [13 15/04/09] Stalion : yes....thats prudent....we missed some early morining moves earlier....but how I came up with the entry point of 1.4950 was a trendline break around that region on the 15 minute chart [13 15/04/09] Paulfx : i would be interested in reading your book when do we get a preview? [13 15/04/09] Stalion : lol....the book has been postponed times without number,paul...its only in my free time that I get to put the finishing touches and review it...dats why ur questions and comments pertaining to forex, would be a nice addition to the book...for now, trading, amongst other activities,tend to slow the Muse [13 15/04/09] Stalion : some time would be necessary before we get the chance for preview [13 15/04/09] Paulfx : its not liking the 4925 mark should be a nice move when it breaks thru [13 15/04/09] Stalion : hmmmm, there is a harami cross at the previous 15 min candle, while the 4925 mark is around the 50% level,paul [13 15/04/09] Stalion : just a period of indecision before price makes its next move [13 15/04/09] Paulfx : ok i have the same on my charts [13 15/04/09] Stalion : you can still close out 1 more minilot,while adjusting your stop loss to our sell entry level [13 15/04/09] Paulfx : i was waiting for 2nd target to hit before i close out a mini [13 15/04/09] Paulfx : i got stopped out [13 15/04/09] Stalion : on breakeven? [13 15/04/09] Paulfx : yes i broke even on the other 2 minis [13 15/04/09] Stalion : cool.... [13 15/04/09] Stalion : I was stopped out on breakeven too....though 2 minilots were closed out before price got advancing upwards...the remaining 1 minilot was a sacrifice [13 15/04/09] Paulfx : i try to stick religiously to trade management taking profit and sl [13 15/04/09] Paulfx : on the 1h chart we are still in a downtrend [13 15/04/09] Stalion : yes....the current trend on the hourly chart is down....usdchf is moving up [14 15/04/09] Paulfx : anything on the horizon to look out for? [14 15/04/09] Learning_pips : hi paul [14 15/04/09] Paulfx : hey there [14 15/04/09] Stalion : price went back to our 1st target again [15 15/04/09] Paulfx : are we going to re-enter? [15 15/04/09] Stalion : to be on a safe side, we put a buy stop at 14970 [15 15/04/09] Stalion : 1st target @ 14990...2nd target @ 15035 [15 15/04/09] Paulfx : bah i missed the entry [15 15/04/09] Stalion : 40 pips sl [15 15/04/09] Stalion : hmmmm...you can still enter at current market price of 14970 [15 15/04/09] Paulfx : i got in close to entry price [15 15/04/09] Stalion : cool [15 15/04/09] Paulfx : not much activity today on the markets it seems like [16 15/04/09] Stalion : helloo paul [16 15/04/09] Paulfx : hello stallion - looks like gbpusd is catching a downward trend [16 15/04/09] Paulfx : 1h chart still bullish [16 15/04/09] Stalion : yes....we jus have to sit on our hands and wait for price... [16 15/04/09] Stalion : 1st target hit http://i62.servimg.com/u/f62/11/82/15/01/wedgud11.gif [09:36:40 17/04/09] Stalion : helloo there, LP.... [09:39:32 17/04/09] Stalion : We put a sell stop on GBPUSD @ 14795...1ST TARGET @ 14735...2ND TARGET @ 14665.. STOP LOSS @ 14850... [09:40:58 17/04/09] Learning_pips : hmm [09:42:30 17/04/09] Stalion : looks like the CHF report got the swiss pair in an uptrend frenzy.... [09:43:35 17/04/09] Learning_pips : ok. I am only lookin at gbpusd for now.just one pair is enough for me to begin with lol [09:45:26 17/04/09] Stalion : of course, gbpusd might still have some strength for a rally when the CAD report comes out in a few minutesQuote:
Originally Posted by jrob195
Helloo folks,
On Wednesday, we saw the cable (GBPUSD) yield up a total of 93 pips through the second target @ 1.5127.
Quote:
Originally Posted by Stalion
Quote:
Originally Posted by Stalion
http://i62.servimg.com/u/f62/11/82/15/01/93pips11.gif
MACD had a bearish convergence with price which gave us a clue that the cable was going down. Support was already broken at that point and it was a free fall of 93 pips that we had.
This Friday, we are seeing GBPUSD MOVING DOWN YET AGAIN, AFTER A BULLISH RUN UP...WHAT IS TO
BE? TO BE OR NOT BE?
Sell stop on GBPUSD @ 1.5310…..
http://forexgreenland.foruma.biz/forex-technical-analysis-strategies-forum-f3/review-of-strategic-tips-on-forex-signals-in-forex-forum-t381-100.htm#2005
Any new signals around so far? It would be really nice if there will be something recent so in the end, it would benefit both sides. https://imagicon.info/cat/3-5/smile4.png
Forex is an investment with high risk. The velocity of money in the forex daily reach trillions of dollars. Now with even small capital we can invest in forex. Besides the reliable forex broker is also an important factor. As long as I make use of brokers alpari they always provide good support, among others, providing daily trading analysis and online customer support.
What do you think ? It is very good