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Forex Junction
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baseerahmed
Master |
04-Apr-2009 15:56
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caveat emptor ... for educational and entertainment purposes only ... not an inducement |
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baseerahmed
Master |
04-Apr-2009 15:53
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caveat emptor ... for educational and entertainment purposes only ... not an inducement |
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baseerahmed
Master |
29-Mar-2009 22:48
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baseerahmed
Master |
29-Mar-2009 22:00
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anyone can comment on the charts of usdjpn ? |
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baseerahmed
Master |
14-Mar-2009 00:41
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caveat emptor ... for educational and entertainment purposes only ... not an inducement |
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iPunter
Supreme |
13-Mar-2009 04:49
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This is also another way of saying, "Even the invincible always have to fight a black swan"... hehehe... | ||
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baseerahmed
Master |
13-Mar-2009 00:06
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UJ -- Head and Shoulders on 4hr Chart never anticipated this spike -- goes to show "Anything can happen --Mark Douglas " ---- stop-loss in place is supreme. caveat emptor ... for educational and entertainment purposes only ... not an inducement |
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baseerahmed
Master |
12-Mar-2009 15:20
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caveat emptor ... for educational and entertainment purposes only ... not an inducement |
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baseerahmed
Master |
12-Mar-2009 15:11
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caveat emptor ... for educational and entertainment purposes only ... not an inducement |
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iPunter
Supreme |
08-Mar-2009 17:14
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This Traders Creed deserves to be framed up and permanently displayed. It is a good trader's secret mantra (zhou). |
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baseerahmed
Master |
08-Mar-2009 00:22
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Belief Statement from a professional CME Floor Trader I am a professional trader. My job is to take risk. If I manage my losses and let my profits run I will be successful. Because I am a professional trader, I will forgive myself easily for making mistakes and move on to new opportunities. I feel great that I have the discipline to control my emotions and the patience required to be a professional trader. I am a professional trader and will make $1,000,000 by year end. I will achieve this by following my trading plan, setting achievable goals, and controlling my emotions. I am confident and believe in my own ability to be consistently profitable because I AM a professional trader. |
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baseerahmed
Master |
07-Mar-2009 12:42
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just pasting the usdjpy daily chart ... caveat emptor ... for educational and entertainment purposes only ... not an inducement |
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baseerahmed
Master |
06-Mar-2009 22:28
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USDJPY - Demo Trade on weekly chart ok ... as the 'wind' was getting weaker, last night had moved the stop-loss to 270 pips from 300 locked-in pips ... was just playing it safe with the retracement at the immediate support .... looks like the 'kite line was cut' at the stop-loss .... so now out of the game ... with 270pips ok ..back to the drawing board for the next set-up ... caveat emptor ... for educational and entertainment purposes only ... not an inducement ... past performance is no indication of future trend |
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baseerahmed
Master |
05-Mar-2009 22:03
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Sifu CWQuah , Thank you very much for the clarification. : ) |
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CWQuah
Master |
05-Mar-2009 20:17
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Baseerahmed, 98.94 is 2 pips above the price of 98.92. Market price (98.92) should tally with the bid price (ask price is bid price + spread). If your broker's spread is more than 2 pips, e.g. 3 pips, then it's likely the order would fill only at MARKET price 98.91, or equivalently, when the ask price hits 98.94 (98.91 + 0.03). Coz buying is triggered at ask price. So at 98.88, this is fulfilled.
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baseerahmed
Master |
05-Mar-2009 11:18
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demo trade usdjpy : last night, had keyed in for sell from 99.14 to 98.94 .... the price had dropped to 98.92 and yet did not trigger limit order of 98.94 .... however the second time it dropped to 98.88 , the limit order got filled ...... can any sifus could shed light on this ... ? thanks . |
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baseerahmed
Master |
04-Mar-2009 22:53
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Demo Trade Usdjpy in light of latest development, had upped the stop-loss to lock-in gain of 300 pips. caveat emptor ... for educational and entertainment purposes only ... not an inducement ... past performance is no indication of future trend |
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iPunter
Supreme |
04-Mar-2009 00:07
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Many doctors and professionals have chucked their callings aside and entered the promising world of forex. Many fail to make it rich,... of course,... because everyone told them it's easy... hehehe... |
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baseerahmed
Master |
03-Mar-2009 22:56
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If you are new to trading and/or you have had difficulty finding some
consistent success, you must understand something. This is not a game
and it's not a way to get rich quick. I suppose there is the odd
exception of the person with a ton of money to play with, but if you
approach this business without a business plan and the willingness to
follow it, you are almost certainly doomed to failure. A doctor spends
ten plus years in a grueling learning curve to be successful and earn a
six figure income; anyone who thinks that their pot of gold in this
business is a couple of months down the road is in for a rude
awakening. Below is a minimum requirement (in my opinion) to find out without losing your @#!@#$%$# if this business is for you. By following these recommendations, you will be treating trading like a business and you will be learning and gaining confidence. I think this is so important, I am going to make the following statement: If you start out in this business using no common sense, you have no one to blame other than yourself when you lose all your money. There is no reason to ever lose a dime of your money while learning to trade. A well thought-out business plan, common sense and hard work is required for anyone who wants a chance at success. Many people meet those requirements and still fail, but it does not mean you have to watch your bank account go to zero. MINIMUM REQUIREMENTS / THIS IS A BUSINESS WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):
Your goal should be this. Learn, learn and learn some more and don't do anything stupid while your getting your feet on the ground. The ultimate goal of any trader is to build an account to a size where just a few good trades a month produces a staggering income. Hardly anyone ever gets there because they don't treat it as a business. They do stupid things that they would never do in any other area of their life and it's because of the money that can be made. If it takes you a couple of years or even five or ten to reach the level of a staggering income, is it worth it? The choice is yours. http://www.forexfactory.com/showthread.php?t=2331 |
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baseerahmed
Master |
03-Mar-2009 22:35
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Belief Statement from a professional CME Floor Trader For those of us that are battling our psyche, emotions, the little man inside our head and the guy in the mirror when we are trading, I use a Belief Statement I got from a professional CME Floor Trader. I read it before each trading session and find it particularly calming after having a couple of losing trades or when I reach my maximum allowable loss. I made the mistake of questioning the $1 million target and was very quickly rebuked as "not having the confidence or belief in myself" so I just read it as copied: Quote I am a professional trader. My job is to take risk. If I manage my losses and let my profits run I will be successful. Because I am a professional trader, I will forgive myself easily for making mistakes and move on to new opportunities. I feel great that I have the discipline to control my emotions and the patience required to be a professional trader. I am a professional trader and will make $1,000,000 by year end. I will achieve this by following my trading plan, setting achievable goals, and controlling my emotions. I am confident and believe in my own ability to be consistently profitable because I AM a professional trader. Unquote Hope you find this helpful http://www.forexfactory.com/showthread.php?t=155459 |
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