Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I think psychology is the most important part of live trading.
I was quite excited just to finish my associates. I have a successful family, but am the first in my immediate family to complete a degree. I plan on finishing the BS, taking 6 months to a year off, then tackling a Masters. Thereafter(or perhaps before) I plan to start my own business. Until then, i'll stick to schooling, trading, and working I guess.
I always feel swamped with homework. Got 10 classes to go to finish my bachelors degree...i'm ready to be done with school!
Closed the usd/chf short for 30. Got homework to do now...
Thanks. Keep making them pips yourself. I'm pondering closing this usd/chf trade at +30. Seems to be losing steam.
I prefer to stay away from the volatility in gbp/jpy. Its a good one for some big pip gains(or losses). USD/CHF sitting at +30 pips with the trailing stop following it down. Looking good.
lol...that's why gbp/jpy is referred to as the "beast" crazy moves in that pair...thus the reason for high spreads. Good job on the +6
Sitting at +20. I put a trailing stop a break even and will let it run until it stops out. With such a tight stop, I need a good drop soon to lock in at least 20 pips.
Looks like a bounce is in store. Good luck. My usd/chf is at +8...looking for +20 or better.
Given the markets are quite extended, i'm going to keep an eye on all jpy pairs and look to enter longs. I'm not ready yet though, I would like to see a deeper correction before deciding on long.
This correlation is common during normal markets. When the USD is getting sold, it suggests risk appetite is up, therefore, eur/usd goes up, usd/jpy goes up and all the other cross/jpy's go up as well. Interesting correlation. I guess it's a product of the masses, meaning everyone buys cross/jpy which substantially devalues the yen which in turn drives up usd/jpy even though the USD is getting sold across the board. When these correlations come into play, it suggests that the market is returning to normal flows.
I just closed a short eur/jpy for 170 pips and opened a short usd/chf with a very tight stop of 20 pips and am only looking for a few pips on this one...call it a scalp attempt if you may. Pips are good as long as there's a + sign beside them. good trading my friend. I think the massive dips in cross/jpy may offer good long opportunities with wide stops.
Looks like all "good" news for the eur/jpy short i'm holding. I wonder though....we should expect GDP data to stink, once the initial onslaught waves through the market, and equities strengthen, I expect the euro, and cross/jpy to bounce back. I'm going to look into buying perhaps aud/jpy, gbp/jpy and usd/jpy on strong dips. I'll give them another 100 pips or so and start working my way into the market. I have some straggling gbp/jpy longs, micro lots, that I figure i'll hang onto for a while and average down on these dips. The markets are quite extended, so a pullback is to be expected. What do you think?
AC-Markets was raided...according to a story at FF which points to here: http://www.swisster.ch/en/news/business/police-raid-geneva-forex-firm-in-fraud-probe_116-1451105
Certainly, I think risking $15-20K for 350k or so is quite worth it...I'll do it again when given the opportunity! One has to remember Soros had to take out loans and raise financing to prevent a MC on his lotto ticket...worked out quite well for him!
I couldn't retire on 350K...well...250 after the govt. gets their chunk.
It was a bad day, however, it was all profit that I risked...I don't mind risking profit at all. Overall, for the past 3 years i'm in the plus, however, If i had limited my risk, i'd probably be even better off. On the flip side of that though, if my 1mil trade would have worked out, i could've taken 3 years off from work.
That's the identical rule that I tout...but don't use. lol 10k for every 1000$. In the case of my 1mil trade, I was well capitalized for that trade, just didn't work out for me. I simply thought i'd take a big gamble...which didn't pay off, but I still withdrew about 2000% profit from the account after the blowout. The large trade I made was in my Oanda account, so I was only operating on 50:1 leverage...
FXCM is a no dealing desk operation. I have never had execution problems.
I'm an account killer and master all rolled up in one! Can run an account 1000% before I kill it! lol
Backoff and use less leverage. Not that i'm one to speak about overleveraging, but it's an account killer.
I've done the good ole 1mil once. Didn't go so well. The terrible part about it was that I shorted aud/jpy at 89.30 for 1mil...margin called then the price tumbled to 55 or so. Lol or better said, missed out on 343K in profit. sigh
Real account....http://www.forexmicrolot.com/king-micro-trading-contest.html
King of the Micro contest RULES
NO REGISTRATION IS REQUIRED. All live FXCM Micro accounts with a minimum balance of $500 on the first day of the contest are automatically entered.
In this live trading competition, Micro account holders with the highest percentage gain (it can be as little as 10%) will win $25,000. Second-place winners will receive $10,000, third-place winners, $5,000.
The percentage gain will be based on the ending gross P/L (including floating P/L) as a ledger balance against the beginning balance at the beginning of the contest. There will be no restrictions on withdrawing your prize money.
The contest begins at 5:00 pm (EST) on the first trading day of the month and ends at 4:59 PM (EST) on the close of the last trading day of the month.
Winners will be announced by the fifteenth of the following month.
Before entering the contest, please review the complete set of contest rules
Speaking of that, i'm scaling into gbp/jpy longs starting now. Not now, but NOW.
It's worth the try for 25K. The last winner got like 1500% gains or something retarded like that. From 800 or so to 13000. Either way, its worth the shot. Basically if you have 500$ in your account, your automatically entered on the first of the month.
Yes! I agree, the Yen is a POS indeed. So, i'll continue to buy cross/jpy on good dips.
Hmm..the site does seem down. They don't open until like 5:15EST though so perhaps they have sched maint going on.
My accounts have taken quite a beating this week, other than my FXCM account. Have you seen the FXCM king of the micro contest? Good way to attempt to get some capital. $25k at hand if you come out on top!
I got burned by usd/chf yesterday. I'm currently long eur/jpy for today.
Omar, I think it was the opposite wasn't it? I believe they devalued the chf by buying eur/chf which in turn drove usd chf from 1.16 to 1.1975 in about 2 minutes.
Mornin' how's trading going this morning? I'm still hanging onto usd/chf shorts from last week that aren't looking too great, but i'll hang on for a while longer.
Not at all...how about you? lol
Shorted usd/chf..for no apparent reason other than I think it's going to pullback. Need to see some dow strength for that to happen though.
He would get better input from a 90 year old farmer from Virginia. Guarantee it!
FXCM's King Of Micro, or whatever they called it results are in. The winner went from about 800.00 to about 13000.
I'm on the back-end of that story, so I know how you feel.
Double Post....Ignore
lol. That's GENIUS! Said wile rolling my eyes and heading for the 'fridge for a beer.
Thanks for the info...makes sense as to why about 1400 is gone from my account overnight. lol
I guess "Germany getting close to negative inflation" doesn't help much either huu?