if it breaks 4773 then I may think about shorting it but the trend all day was up. I'm unsure. I think I'll wait this out for awhile before deciding.

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Thanks for your thoughts and good luck in trading the Forex markets

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man, look at gold take a dive

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I took a risk and entered at 1.4794 and exited at 1.4784 for a 10 pip gain. I think I was lucky. perhaps I should have waited longer for confirmation. Either way, the breaking of psych levels is starting to intrigue me a lot. hmm..i think there may ...

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I was just wondering what your impressions are of forex trading compared to stocks etc that you were used to? Do you find forex easier or more difficult to trade?--and why?

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yeah, since the trend is going up for the day. I'm not sure. it has been hovering around the 4800 level for awhile. I'm not going short until it comprehensively breaks the 4800 level.

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it just broke the 4800 psych level. I'm getting ready to go short for some pips.

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My strategy is telling me to not trade right now. For going Long 1. The overall trend is still up 2. The trend for the last 10 hrs is a ranging type situation. However it is ranging downwards . 3. For me to trade I need to see a high above the ...

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interesting thing for me is that gold went up a lot against the USD just a little while ago and now we see that the EURO is going up as a potential consequence? Gold up USD down therefore Euro UP? Also...Oil appears to be inclining upwards but in a ...

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Oh yeah, yep, definitely need to have good money management. So I wouldn't risk more than 1% per trade. (That's what I'm currently following at the moment) and lol

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Yeah dude, that's the plan. Exactly what I want to do

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Glad to hear it. I may send you a PM at some stage since you are experienced with Oanda platform. (probably when I trade live)

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You're right Jurrasic. If you risk 2% then you basically have a risk of ruin =50 trades. If you have 50 bad trades then you lose all of your capital. In my humble opinion 2% is just too much for me to risk per trade (since i am a novice). I'm more ...

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Great post WhipSawFX. I'll print that out and put it on my wall

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All of you guys could have a point with regards to leverage. at the moment I'm using 20:1 on Oanda on my demo account. I'm going to expriment using a demo account to see first hand how the leverage affects my trading style. I'm still leaning towards ...

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I agree with you that demo trading isn't the same as a live account. but having said that I don't see the point opening a live account if I can't even be profitable with a demo account. So my plan is to build a system that works profitably in the ...

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Yeah having enough capital to trade is a very good point. Having said that I don't see an issue with trading a small $1000 as an educational experience. I myself am demo trading for a few months and then will open a $1000 account and see how I go. ...

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I'm a newbie but that sounds like way too much for me. If I were to open a live account with $1000 and starting out I wouldn't make each pip more than 50cents.

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well the news has been out for 13 minutes and it looks like we are back where we were before the news was released. It appears to have spiked up to the 1.46946 level. I'm glad I closed my short position before the news came out. Now I'm just waiting ...

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I know what you're saying but honestly that does help me a lot. And besides what's the problem? I mean it takes only one post every now and then and there are lots of new people who view this thread all the time. I'm very greatful to have seen that ...

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