Making Money Trading

This is a discussion on Making Money Trading within the First Steps forums, part of the Reception category; What happened to all MP's posts? Did they get moved to a new thread? Just curious? Grim...

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Old Apr 14, 2008, 8:17am   #1975
 
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What happened to all MP's posts? Did they get moved to a new thread? Just curious?
Grim
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Old Apr 14, 2008, 8:50am   #1976
 
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Originally Posted by grimweasel View Post
What happened to all MP's posts? Did they get moved to a new thread? Just curious?
Grim
They were moved to a thread called: Trading News with S&R
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Old Apr 14, 2008, 9:26pm   #1977
 
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TD
Thanks, found them!
How is the trading going at the 'firm' then? Hope it's all panning out OK for you?
There has been some good pin action on the Cable hrlys over the past few days!
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Old Apr 14, 2008, 9:38pm   #1978
 
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TD
Thanks, found them!
How is the trading going at the 'firm' then? Hope it's all panning out OK for you?
I'm enjoying it very much although trading for a firm has had a somewhat detrimental effect on my trading performance. I made a post on this elsewhere on this forum today...

Tom
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Old Apr 14, 2008, 9:51pm   #1979
 
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I'm enjoying it very much although trading for a firm has had a somewhat detrimental effect on my trading performance. I made a post on this elsewhere on this forum today...

Tom
I guess they don't like you having big stops? How many ticks are you allowed to lose on a single trade?
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Old Apr 14, 2008, 9:53pm   #1980
 
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I guess they don't like you having big stops? How many ticks are you allowed to lose on a single trade?
At the time of writing, we have a £200 per day loss limit.

I trade Euro/Usd exclusively. That gives me a 31 tick stop (assuming I do only a 1 lot) before I am stopped out for the day.

As you can imagine, the chance of a daily or even 1hr pin bar that risks a mere 30 ticks is extremely unlikely. And even if I found an excellent setup that fit this criteria, it would be unwise to risk the daily loss limit on one trade.

The firm would much prefer you enter multiple trades with tight stops.

So, right now I am buying and selling key levels with stops of around 5 ticks.
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Old Apr 15, 2008, 1:30pm   #1981
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Originally Posted by trader_dante View Post
At the time of writing, we have a £200 per day loss limit.

I trade Euro/Usd exclusively. That gives me a 31 tick stop (assuming I do only a 1 lot) before I am stopped out for the day.

As you can imagine, the chance of a daily or even 1hr pin bar that risks a mere 30 ticks is extremely unlikely. And even if I found an excellent setup that fit this criteria, it would be unwise to risk the daily loss limit on one trade.

The firm would much prefer you enter multiple trades with tight stops.

So, right now I am buying and selling key levels with stops of around 5 ticks.
Do you mind me asking do you still get time to carry out your own personal trading?(just out of interest!)

PS thanks for your replies to my previous post.cleared things up alot!
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