£500 to a million spread betting Forex

This is a discussion on £500 to a million spread betting Forex within the Trading Journals forums, part of the Reception category; Originally Posted by price777999 i guess it is , but i will normally only hold over the weekend if price ...

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Old Mar 4, 2011, 4:43pm   #33
Joined Jan 2009
Re: £500 to a million spread betting Forex

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Originally Posted by price777999 View Post
i guess it is , but i will normally only hold over the weekend if price is a good bit in profit .
I cant see gold and silver crashing over the weekend ?.....But Im no expert .
Ok cool

Keep at it and have a good weekend
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Old Mar 5, 2011, 4:31pm   #34
Joined Jan 2009
Money Management

Hey Price

I'm no expert but I had a look over your trades and thought I would just point out some Money Management hints. You may know these already and if so cool.

£500+ account balance

Trade Lots 0.50
When trade goes green move SL (Stop Loss) to Entry (Break Even)
When trade is half way to your target close lot 0.30 let 0.20 run for gravy(£££)
If trade continues to run just move SL to lock in profits

Trading 0.50 represents 2% of account balance with a 20 pip SL.

Just a thought on looking at your trades
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Old Mar 5, 2011, 6:41pm   #35
Joined Mar 2010
Re: Money Management

Quote:
Originally Posted by JDTRADER View Post
Hey Price

I'm no expert but I had a look over your trades and thought I would just point out some Money Management hints. You may know these already and if so cool.

£500+ account balance

Trade Lots 0.50
When trade goes green move SL (Stop Loss) to Entry (Break Even)
When trade is half way to your target close lot 0.30 let 0.20 run for gravy(£££)
If trade continues to run just move SL to lock in profits

Trading 0.50 represents 2% of account balance with a 20 pip SL.

Just a thought on looking at your trades
I think you've been watching those videos too much, but that might be a good idea with my trading setup because i can pick S and R levels quite often, but i dont know how much they will bounce and if it doesn't go up, there's no point being in the trade.
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Old Mar 6, 2011, 2:50am   #36
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Re: Money Management

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Originally Posted by brettus View Post
I think you've been watching those videos too much, but that might be a good idea with my trading setup because i can pick S and R levels quite often, but i dont know how much they will bounce and if it doesn't go up, there's no point being in the trade.
lol
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Old Mar 6, 2011, 7:13pm   #37
 
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Re: £500 to a million spread betting Forex

price777999 started this thread JD , advice always appreciated here ......... I have tried the break even thing and it doesn't work for me , i just get taken out and then price rockets of in the direction i expected .
I prefer to give trades as much breathing space as possible .
20 pip stops are way to small for H1 trades , I use 60 to 150 pip stops , so 10p per point is fine for now as i will have a few trades open simultaneously .
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Old Mar 6, 2011, 8:36pm   #38
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Re: £500 to a million spread betting Forex

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Originally Posted by price777999 View Post
JD , advice always appreciated here
Cool

Watching
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Old Mar 9, 2011, 10:22pm   #39
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Re: £500 to a million spread betting Forex

Kerching Price



KEEP IT UP !
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Old Mar 9, 2011, 10:31pm   #40
 
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Re: £500 to a million spread betting Forex

price777999 started this thread cheers bud if only it was £100 a point ........ one day

i was using the iphone app today , tried to close the s&p500 trade but conection got timed out or something .....anyway might be a good one ?
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