Haha! And wot iz this? You keep buying market until u get it ok!? Don't pull my wool.
First trade advice
- Thread starter Lloyds Bank
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Haha! And wot iz this? You keep buying market until u get it ok!? Don't pull my wool.
kimo'sabby
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I do not take the market...EVER! The order was posted at 15875 precisely, with 50 point stop loss order attached. My TARGET price? I'll let U know when it eventually arrives. Good day!
to the OP. I've done a 4 month study and only spent pennies on micro lots, but most of my time is on demos. The more i study the more questions i have, and the harder this game seems......but i'm determined, and enjoy the analysis.
You sound foolish.
Give your money to some people in poverty instead of wasting it.
You sound foolish.
Give your money to some people in poverty instead of wasting it.
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kimo'sabby
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The initial target order will be posted at 16500, Mr Hungcable SMARTY PANTS! All else remains unchanged.
lee.belisar
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Somehow I already have a general plan my friend. You know, I'm learning a lot here. I also visit various Forex sites and forums and interact with other traders too. And yes, I do trade with gdmfx. Do you know this broker?
kimo'sabby
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Ok, at the moment I have a little more than 1:4 r:r, but I'm going to require some more luck (cheeky). The position is not changed in any way, shape or form.
Some points to remember.
1. Chart trading is speculation (gambling).
2. You do require a certain amount of luck to make it work (make your own luck).
3. Never gamble with money that you can't afford to lose.
Books for reference include, Dow Theory, ROASO - Livermore, and Market Micro Structure - Harris.
kimo'sabby
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I'm going to lock-in 20% profit. Stop @ 15975. New revised target @ 16625 (1:15 r:r).
lee.belisar
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Actually, I do not trade live yet. Still doing a demo account, running for 3 weeks. Do you know my broker or have heard about it. If not, here just for your reference. Thanks.
lee.belisar
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Some points to remember is noted with big thanks. Thank you for sharing.
hello lee.
good luck for the future. try to trade your way into the freedom!:clover:
lee.belisar
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Traderallen
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about your points :
1 you are wrong.... In gambling the odds are always against you, in trading you put the odds in your favor.
2 wrong again..... Trading is skill and knowledge, if you're putting your money at risk based on luck you're going to lose.
3 I would say wrong again. See Buffett rule number one "don't lose money"
bigmistake
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My first advice for your problem is don't never trade all your capital. SInce you can lose all them.
rrayne20009
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Hi Lee!Glad to see your post here.I also trade with gdmfx,but still on a demo to try them.
Anyway,what account do you have there?
rrayne20009
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I would say,I agree all on your points especially no.2,you can't depend on luck in forex
kimo'sabby
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Chart-only speculation requires no kind of extensive knowledge base whatsoever. There is a knack to it though, based on nothing more than a handful of simple to understand principles.
The retail end of the industry has been totally corrupted by vendors and the like.
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Traderallen
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you're absolutely right about the industry being corrupted by vendors and the like. The problem is is a tell people what they want to hear and new want to be traders are happy to shell over money to have someone tell them what they want to hear. Then when profitable experienced traders try to tell the new trader what they really need to know and do to make money in the markets. They don't want to hear it. They just want the easy way out which is to keep shelling out money to hear what they want to hear.
lee.belisar
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Noted with big thanks. I absolutely agree that trading is a matter of knowledge and skill. These will be our weapons to do well in trading and in making the right decision in placing our trades.
lee.belisar
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That is great. I have a classic account with them. But I do not trade live yet. Still I'm practicing with a demo account, running to three weeks now actually.
