Just so you all know: Short @701 SL 731 TP 666

EURUSD

Haha I have traded for the day thankyou. Up over 3%. Just passing some time waiting for the market to decide what it's doing. No point second guessing what will happen. Wait for it to happen, then go along for the ride.

EURUSD

Nice one. So how much you make each week

EURUSD

Haha I love it. This place is amazing

EURUSD

Weekly pivot at 741, daily R1 at 742, so I'd say 1.3740 or just below an ideal TP for your longs.

EURUSD

You guys are hilarious, where do you get your numbers from Lets see how accurate this prediction is...however I do agree on a small rally shortly but only to fuel the impending dive later today.

EURUSD

Gap — Thoughts on the gap to 1.3800 closing today?

EURUSD

Its all down to the amount that you risk and your expected gain. For example today I have had just one trade, initial risk was 1.75% (as all my trades are), I closed it out for 50 pips which gave me 3.8% account growth. So by 9:00am I was done for ...

14 Year Old Forex Trader's Lessons

I'm concerned that your spreadig yourself too thin. My advise fwiw is to focus on just one pair - learn how it moves, watch what happens at certain times of day, learn it inside out until you can almost predict where its going to go. I know a chart ...

14 Year Old Forex Trader's Lessons

^^ what he said

14 Year Old Forex Trader's Lessons

Yes not quite sure what has happened! Guys clear the air, I still believe this thread is good and will get better.

14 Year Old Forex Trader's Lessons

Evils of drawdown — The example I was talking about earlier. See how important it is to keep losses small.

14 Year Old Forex Trader's Lessons

I know some do trade with no SL, however I think money management is the key to success or failure. See what can happen, the miracle he hoped for never happened - url My max loss per trade at the moment is 1.75%. Maximum of 3 losses a day. Every ...

14 Year Old Forex Trader's Lessons

This has the potential of being a great thread. I myself have recently turned an important corner: I have removed all the indicators from my charts, I now use nothing except price and pivot levels and pysch levels, such as the session open and round ...

14 Year Old Forex Trader's Lessons

ok so daily R2 now reached, good opportunity to short at 1.3900

EURUSD

Thanks Redlion! — Thanks for the post. I must say you are one of just a few posters on these forums who I feel actually know what they are talking about

Risk / Reward - new approach

Depends — Its great (if it's consistant) considering the daily range of say EUR/USD is around 170 ish at present. What is more important though is your risks. You should be focusing on only risking a certain percentage of your account. Suggest ...

is 30 to 50 pips profit excellent in a day?

I like your style I am completely on your wavelength moneymaker2. Like you, I go for the small pips, normally anywhere between 15-40 pips. I have my TPs either at round numbers (.00 or .50) or at pivot levels. Small gains compound nicely over ...

Risk / Reward - new approach

I don't know what a typical SL is - all depends on time frame. For argument, say its 30 pips for a day trade. You will need to be damn good/lucky to get 90 pips consistantly. Much more likely that you will be stopped out before a big 90 pip move.

Risk / Reward - new approach