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Forex Junction

Mani.... :))

Just curious, why no trailing stop for this trade? Thought that you are an ardent follower of genie or is it something new from Grace?

 

PS: My s/l is my original entry price, ie. no trailing s/l for this particular trade ufn...

 

By the way, taking small profits is not my habit... :)

For this trade, (long USD/JPY @113.65), I'll let myself be stopped out, no matter what happens...

Which means I'll only close the position when I have accumulated a substantial (TA pre-determined) profit. This is what 'running' is all about...  

 

Yes... you are right, Sir... :)

I have that in mind all the time too ... 

Hope to have your valuable views as we navigate along this precarious path... 

 

You should be glad that your order last night at 114.00 was withdrawn. Now you got in at a more reasonable level. In addition, you may not have been able to get out with 20 pips, and even if you managed your profit would have been very small (swap, comission, slippage). One thing I learnt: never look back what could have happened. Only look forward and check whether your assumptions are still correct. In hindsight everyone would be a millionaire but remember that according to statistics 80% of FX traders lose money.

 

My UDS/JPY Long order done @113.65, still holding...

s/l set @113.25... hope  don't get stopped out... will be holding...

 

Grace wrote:

"...Apart from the discretionary trading that I engage in, I also use some meicchanical trading systems which I have developed after much experimentation and testing. I don't think I would give these systems away as they produce a steady stream of income with little work..."

For More Click Here.

 

Hope my USD/JPY new order gets done @113.65 this time...

s/l will be 113.25. ..

 

i think i know why u wanna enter at 113.65 i just saw it when i switch to daily chart. well i can say that can be a good price to long USDJPY

 

Anyway, it is not so much courage or bravery, but just practical trading... 

Now I have to play the waiting game all over again...  

 

Mani,

Please dun call me that, i am just in my mid 20s which i believe i am younger than you.

applaude your courage to test your own systems on 1st trade.

Manikamaniko. Master	Posted: 27-Dec-2007 22:14
x 0 x 0 * Alert Admin	Wow... :) It's good to have Clauswu and Cashier, etc, to be the 'da shi xiongs' for those starting out in Forex... Which is a good centralised location (website) to monitor the latest news situations?...

 

The Benezir incident was what made it fall to 113.90, if not, it will not fall to that level.

Since my order was 114.00, it would definitely be done... but sad...

and it's my first order (and not paper trade). 

 

The Benezir incident was what made it fall to 113.90, if not, it will not fall to that level.

Since my order was 114.00, it would definitely be done... but sad...

and it's my first order (and not paper trade). 

 

My signals are my own... (propriety signals)

 

for me, i wouldnt be entering usdjpy as the signals are not there to trade it. to me, it is just going nowhere thou it have big swing in both direction.

 I am not sure if grace's system tell u can enter or u based it on other system.

i just commenting based on 4 forex systems  which i know. maybe there are other systems which allow the trade. maybe can wait for next trading session.

 

I shouldn't have withdrawn my earlier buy order for USD/JPY @114.00.

I would have made 20 pips immediately if that order was done 1 hour ago...



Very sad to listen to others...

 

Those who are interested in FOrex should consider the below ebooks & systems

Stocks  & Forex

1)Trade Secrets Video System

 

Purely Forex

1) Expert Forex System

2)Forex Profit System

3)The Blade Forex Strategies

4)Forex Profits Book & Video Program

5)Dynamite Tnt Forex System (This one earn my fren the least commission but i prefer this one and i am training on this one now)

6)Earn Up To $200 Per Sale - Forex Trend System 

yah, my friend got lots of ebooks becoz he is a referral and also one of the ebook writer. lol there is no need to get all the ebooks. just get one will do and slowly add as u master one. dun be quick to jump,

i would suggest maybe getting Trade Secret wit one of the Forex ebook for a start. if budget is limited, can consider getting Trade Secrets 1st.

 

The most impt factor in trading is discipline, follow the rules mentioned in the ebooks and system.

 

One more comment to the s/l: If you followed the USDJPY pair this evening you would have gone long at 114.00 and put your s/l at 113.90, you theoretically would have been stopped out at 113.89 which was the low for the day so far (now trading back up at 114.15-20). Take your time and 'paper' trade to get familiar with the movements in each pair that you are interested in.

For economic news I prefer Bloomberg website and have the TV switched to CNBC.

 

Just amended my USD/JPY order to buy @113.65...

 

Wow... :)


It's good to have Clauswu and Cashier, etc, to be the 'da shi xiongs' for those starting out in Forex...

Which is a good centralised location (website) to monitor the latest news situations?...