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  • #6,981
  • Apr 15, 2014 3:50am Apr 15, 2014 3:50am
Quoting Super_Mario
{quote} {quote} Fasten your belts, let the show continue.
Pecuniae obediunt omnia
  • #6,982
  • Apr 15, 2014 3:52am Apr 15, 2014 3:52am
Quoting caldera
Your psychology when trading a demo account would be completely different from trading a real account i.e. there is no psychological element to trading demo, real trading is 10% study and 90% psychology, that's why even the smartest people fail. For example when you're trading a demo... you're more willing to use higher leverage and large drawdowns are not a problem... but with a real account most people would crap their pants if they had a draw down of say -50 000 on a 100 000 account as 100 000 could be their life savings... imagine having to...

yes that is 100 % true
demo account not have stop lose.. many traders..even expert.. forget .. sl ...alawys looks for tp... when i start i do in real money yes it was hurt but demo u can lose every hour an account even with many 100xxxxxx y can add zero as u like... its have to get learning ...at least .. when the money get critical level..
yes its life destroyer.... take care traders... best of luck...
  • #6,983
  • Apr 15, 2014 3:56am Apr 15, 2014 3:56am
Quoting capetown
{quote} Absolutely.. confidence and also if it is real account, it is different when You loose, emotions and etc..I go out..and try to forget and then 2 days break or just small positions..very small
agree with all of you...I recommend if one really wants to learn. He should start with LIVE account...demo account gives you a false sense of security...many people take winning for granted after winning in demo account...end up losing much more when they go live.

having said that, when u go live, go small...you will at least blown your account once during your life...it is a lesson learned =P
  • #6,984
  • Apr 15, 2014 3:59am Apr 15, 2014 3:59am
Quoting uncletrumpet
{quote} Hmnn...
are you long till 1317-18 fib level or aiming for 1335+ or are you still waiting for 1305 buy?
  • #6,985
  • Apr 15, 2014 4:01am Apr 15, 2014 4:01am
Quoting manforlove
{quote} yes that is 100 % true demo account not have stop lose.. many traders..even expert.. forget .. sl ...alawys looks for tp... when i start i do in real money yes it was hurt but demo u can lose every hour an account even with many 100xxxxxx y can add zero as u like... its have to get learning ...at least .. when the money get critical level.. yes its life destroyer.... take care traders... best of luck...
the big difference between demo and and live is heart rate lol , i know just had big rise on gbusd posted all results ,, still not calmed down,,
  • #6,986
  • Apr 15, 2014 4:03am Apr 15, 2014 4:03am
If you blow your account only once, then you're exceptional you would probably rank as one of the top traders in the world. But more than likely you'll be using margin calls as a stop loss for the first few years of your trading. And by that time you'll have no hair as Sergo put it so poetically the other day, you'll be looking for hair on other parts of your body to pull out, and by that time you'd have already dug yourself into a hole.


Quoting Polaris4dy
{quote} agree with all of you...I recommend if one really wants to learn. He should start with LIVE account...demo account gives you a false sense of security...many people take winning for granted after winning in demo account...end up losing much more when they go live. having said that, when u go live, go small...you will at least blown your account once during your life...it is a lesson learned =P
  • #6,987
  • Apr 15, 2014 4:05am Apr 15, 2014 4:05am
just took profit on 70% of shorts in all accounts I'm handling, applied +ve SL to remainder, will post SS later

rush hr here..
Hello World!
  • #6,988
  • Apr 15, 2014 4:06am Apr 15, 2014 4:06am
You must be expecting this to retrace...

Quoting ClockTrader
just took profit on 70% of shorts in all accounts I'm handling, applied +ve SL to remainder, will post SS later rush hr here..
  • #6,989
  • Apr 15, 2014 4:07am Apr 15, 2014 4:07am
I spent a few month blowing my account habitually. I would only put $10 in and start again. All it taught me was to be stupidly aggressive. I once tuned that $10 into $1850 in less than 24hours. Needles to say, with such aggressiveness I turned that $1850 into 0 within an hour. Stupid Stupid Stupid.

I'm still not a good trader, but at least I now realize how greed and aggression are horrible in trading.
  • #6,990
  • Apr 15, 2014 4:07am Apr 15, 2014 4:07am
Quoting ClockTrader
just took profit on 70% of shorts in all accounts I'm handling, applied +ve SL to remainder, will post SS later rush hr here..
Nice!
  • #6,991
  • Apr 15, 2014 4:11am Apr 15, 2014 4:11am
it was time to retrace!!
Attached Image (click to enlarge)
Click to Enlarge Name: goldh1.png Size: 43 KB
  • #6,992
  • Apr 15, 2014 4:13am Apr 15, 2014 4:13am
Quoting waleed.khan
{quote} are you long till 1317-18 fib level or aiming for 1335+ or are you still waiting for 1305 buy?
The high time frame will givE order to lower time frame...the high time frame is stll screaming BULLISNESS. The only person that can change it is YELLEN.. I still have my buy limit at 1305....-am tempted to enter at 1307 but the average daily range has ben reached and all these is is just a correction.
IF YELLEN ERASES THIS RISK AVERSION THEN GOLD HAS BEEN OVERSOLD ALREADY...OR OVER-PRICED IN
  • #6,993
  • Apr 15, 2014 4:16am Apr 15, 2014 4:16am
Quoting zaghloul
I spent a few month blowing my account habitually. I would only put $10 in and start again. All it taught me was to be stupidly aggressive. I once tuned that $10 into $1850 in less than 24hours. Needles to say, with such aggressiveness I turned that $1850 into 0 within an hour. Stupid Stupid Stupid. I'm still not a good trader, but at least I now realize how greed and aggression are horrible in trading.
what leverage did you use?
  • #6,994
  • Apr 15, 2014 4:18am Apr 15, 2014 4:18am
Quoting uncletrumpet
{quote} The high time frame will givE order to lower time frame...the high time frame is stll screaming BULLISNESS. The only person that can change it is YELLEN.. I still have my buy limit at 1305....-am tempted to enter at 1307 but the average daily range has ben reached and all these is is just a correction. IF YELLEN ERASES THIS RISK AVERSION THEN GOLD HAS BEEN OVERSOLD ALREADY...OR OVER-PRICED IN
So i take it that you are on the sidelines untill yellen then...
  • #6,995
  • Apr 15, 2014 4:21am Apr 15, 2014 4:21am
bounce to 1318? the short was a good deal after breakdown 1320.58. Best Regards
  • #6,996
  • Apr 15, 2014 4:30am Apr 15, 2014 4:30am
Guys, are we back on the up move again?
  • #6,997
  • Apr 15, 2014 4:37am Apr 15, 2014 4:37am
Quoting ClockTrader
just took profit on 70% of shorts in all accounts I'm handling, applied +ve SL to remainder, will post SS later rush hr here..
======================================================

now suddenly u HAD shorts lol
  • #6,998
  • Apr 15, 2014 4:42am Apr 15, 2014 4:42am
Quoting kimzui
Guys, are we back on the up move again?
====================================================

Quoting pips777
{quote} ======================== this is my chart from abt 5 hrs ago , posted here = xu my TP1 @1318.77 , TP2 @1315.01 , TP3 @1312.77 = http://screencast.com/t/dH7c82ySb atm drippin RED
=================================== =================================
all 3 targets hit , banked Very nice profits indeed --- still hav 7 entries left for TP4 @1301.77
  • #6,999
  • Apr 15, 2014 4:42am Apr 15, 2014 4:42am
Quoting pips777
{quote} ====================================================== now suddenly u HAD shorts lol
will comment later RUSH HOUR here.
GBP/USD
  • #7,000
  • Apr 15, 2014 4:44am Apr 15, 2014 4:44am
This is really interesting.

There is a Cup and Handle continuation Pattern being played out on two separate time frames... on both Daily and H4.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 140415_GLDUSD_H4.gif Size: 26 KB
Click to Enlarge Name: 140415_GLDUSD_D1.gif Size: 31 KB
Click to Enlarge Name: cup-and-handle-pattern-1.gif Size: 67 KB
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