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caveat emptor -- chart by novice -- for educational and entertainment purposes
sell order : 96.80
limit order : 96.70
stop order : nil
just now it spiked down to 96.40 .... hope it had triggered the limit order ...
serious trouble ! ... IGMarkets demo-account can't be accessed .... "Internal Server Error- Read" .... can't put in the stop order .... another "serious experience" encountered ... i suppose in real-life have to call up the platform guys ...
.. still puzzled why it did no trigger the limit-order earlier at 96.77 .... is this what Master techsys warned us earlier .."re-adjustment ". ? ... hmmmm ?
Demo Trade on UJ by novice
Wed2910 : sell : in 97.17 out 96.96 = 21 x 2 = 42 pips
Wed2910 : sell : in 97.17 out 96.77 = 40 x 2 = 80 pips total : 122pips
caveat emptor
its timely that u are back , when i have question for u today about the limit orders on IGmarkets demo-trade
first time coming across this :
today , I got in at 97.17 for downward ride and had placed limit order at 96.77 for 40 pips . it did hit a low of 96.74 BUT did not trigger the limit order . what's happening ?
------------------
about ur question .... don't know how to co-relate stocks movement to usdjpy .. : )
welcome back CashierTan !
so good to see u back !
grinning from ear to ear !
hahaha !
now a mini test for some of those willing learners here.
hint hint on trading stocks..
based on usdjpy chart, anyone can tell me how to predict the movement of the stocks market?
good job basheer. keep it up!
the days of the wildest run should be over. however still got many many money to be made with forex usdjpy pair alone.
Trend is our fren so is volatility if u know how to trade it.
just came back from europe tour and trading with my my S/L set for min of 800 pips profit. not bad havent trigger s/l yet.
Demo Trade on UJ by novice
Tue2810 : buy : in 95.10 out 95.41 = 31x 4 = 124 pips
caveat emptor
Tue2810 : buy : in 95.10 out 95.41 = 31x 4 = 124 pips
caveat emptor
Demo Trade on UJ by novice
Tue2710 : buy : in 93.32 out 93.42 = 10x 4 = 40pips
caveat emptor
Tue2710 : buy : in 93.32 out 93.42 = 10x 4 = 40pips
caveat emptor
Demo Trade on UJ by novice
Mon2710 : sell : in 93.42 out 93.25 = 17 x 4 = 68pips
caveat emptor
I was just reflecting on what iPunter had said regarding the extra pips earned during the drop of carry trade ... perhaps i should not dismiss this 'experience' ...even though i was not looking for that 'windfall' ... i suppose this is the reality ... part and parcel of the game ...
thanks iPunter !
was reading through "Singapore and Foreign Exchange " thread in forexfactory.com and stumbled on our local DBS Fx Trading platform .
anyone has any idea on this ....DBSvefx. ..FX trading platform ?
7 Quick Tips and You'll Become a Better Forex Trader
Becoming a better trader is not easy, everyone trading forex wants to get there. Consistent profits on the long run are needed to be able to trade for a living. Here are 7 tips that will help you get where you want.
1. Stop expecting your account to double each month.
I’m sure that many say or advertise that they do this all the time. I’m not saying it’s not possible. It surely is, you can even triple or quadruple it monthly. But if you want 100% gain, you must prepare yourself for 100% loss too. That’s the way it is: you win some, you lose some. The important thing is to win more times than you lose. Get realistic.
2. Size your positions correctly. Don’t get exposed to risk you can’t sustain.
Leverage is a double edged sword – it helps you increase profits but it also increases your risk. And small accounts can get wiped out really fast in unfortunate market conditions. You don’t want to be exposed to that, so don’t trade big. Use 1:1 leverage at the beginning. If your account is $10,000, trade with mini lots ($10,000/lot). Increase size as your trades get better and you become a better trader.
3. Understand that you don’t always have to be in the market.
If you don’t really know what is happening in the market at that time, if you don’t understand why the price is moving, if you’re not aware of the long term trend or upcoming news, stay out of the market. Just watch the price, read what you have to read and be an informed trader.
4. Stop looking for trades, let the trades find you.
If you have that desire to trade all the time, no matter what, your brain starts to find patterns in the market and possible trades even if they aren’t there. You think there’s a high probability trade coming only because you want to open a position. Breathe some air, walk around the room and try to analyze the market as it is, not as you want it to be. Be patient and the high probability trades will come to you.
5. Check the forex calendar before placing your short term trade.
Don’t open a trade 10 minutes before a report release. You don’t know what the numbers coming out are and won’t know until the market already started to move. Don’t let it get you on the wrong foot, especially when you can do something to prevent this. Just check the calendar and make sure there’s nothing coming in the time interval you’re about to trade.
6. Don’t get emotional. Don’t check your trades every minute.
Getting emotional when trading is just about the worst thing that can happen to you. Plan your trade and trade your plan, that’s what traders say. Checking your trades every minute can get you a wrong feeling about the market, small retracements can get you frightened, emotions intervene and wrong decisions can be taken. Be patient, let the trade take its time, let it breath and it will touch your profit target.
7. Get involved, but get a life.
Always keep learning. Try new things, read stuff. Learn about macroeconomics, know what moves the markets. You can’t improve if you don’t give yourself the time it takes. That may be several years from now and you must not lose your confidence. Learn as much as you can, but don’t forget about what really matters in life: people surrounding you – your lover, your family and your friends.
http://dailyfx.blogspot.com/search/label/tips%20and%20tricks
Becoming a better trader is not easy, everyone trading forex wants to get there. Consistent profits on the long run are needed to be able to trade for a living. Here are 7 tips that will help you get where you want.
1. Stop expecting your account to double each month.
I’m sure that many say or advertise that they do this all the time. I’m not saying it’s not possible. It surely is, you can even triple or quadruple it monthly. But if you want 100% gain, you must prepare yourself for 100% loss too. That’s the way it is: you win some, you lose some. The important thing is to win more times than you lose. Get realistic.
2. Size your positions correctly. Don’t get exposed to risk you can’t sustain.
Leverage is a double edged sword – it helps you increase profits but it also increases your risk. And small accounts can get wiped out really fast in unfortunate market conditions. You don’t want to be exposed to that, so don’t trade big. Use 1:1 leverage at the beginning. If your account is $10,000, trade with mini lots ($10,000/lot). Increase size as your trades get better and you become a better trader.
3. Understand that you don’t always have to be in the market.
If you don’t really know what is happening in the market at that time, if you don’t understand why the price is moving, if you’re not aware of the long term trend or upcoming news, stay out of the market. Just watch the price, read what you have to read and be an informed trader.
4. Stop looking for trades, let the trades find you.
If you have that desire to trade all the time, no matter what, your brain starts to find patterns in the market and possible trades even if they aren’t there. You think there’s a high probability trade coming only because you want to open a position. Breathe some air, walk around the room and try to analyze the market as it is, not as you want it to be. Be patient and the high probability trades will come to you.
5. Check the forex calendar before placing your short term trade.
Don’t open a trade 10 minutes before a report release. You don’t know what the numbers coming out are and won’t know until the market already started to move. Don’t let it get you on the wrong foot, especially when you can do something to prevent this. Just check the calendar and make sure there’s nothing coming in the time interval you’re about to trade.
6. Don’t get emotional. Don’t check your trades every minute.
Getting emotional when trading is just about the worst thing that can happen to you. Plan your trade and trade your plan, that’s what traders say. Checking your trades every minute can get you a wrong feeling about the market, small retracements can get you frightened, emotions intervene and wrong decisions can be taken. Be patient, let the trade take its time, let it breath and it will touch your profit target.
7. Get involved, but get a life.
Always keep learning. Try new things, read stuff. Learn about macroeconomics, know what moves the markets. You can’t improve if you don’t give yourself the time it takes. That may be several years from now and you must not lose your confidence. Learn as much as you can, but don’t forget about what really matters in life: people surrounding you – your lover, your family and your friends.
http://dailyfx.blogspot.com/search/label/tips%20and%20tricks
Scalping the Forex Market - Useful Tips and Tricks
Scalping is risky.
What scalping does for me is to keep my mind in shape and help me remind of how important the psychological factor is when trading longer timeframes and bigger position sizes with, of course, other systems.
Scalping doesn't earn a living. It just keeps me in shape :)
Here are some tips if you just started scalping.
Watch the chart as much as you can. Get used to how the market is moving. If you can, correlate market movements with the time of the day. Each trading session move the prices in a different way. Find the best time interval for you and start knowing it. Start feeling the market. You can do this, really.
Always check the bigger time frames before opening any position. Find out what the big trend is and trade it. Find out where support and resistance lines are. Be aware of them - they might help you or they might be your enemy, depends only on how well you use them. Draw channels or whatever. Check with an oscillator the oversold/overbought status of your currency of choice. Which reminds me:
Chose the currency you're most comfortable it, but take these advices into consideration: more liquidity translates into better price patterns and smaller spreads. This is why EUR/USD is so common between scalpers. It's the most traded pair in the world. Everybody watches it, all forex gurus analyze it (and no, I'm not talking about me and my daily thoughts and trade ideas on EUR/USD) and all brokers have small spreads on it. But the choice is yours. It's your forex trading account :)
Do I have to add that you must avoid trading opposite to the trend (trading retracements) unless you really know what you are doing? Trading in the same direction as the bigger trend will definitely increase your chances of winning.
Always check the daily calendar before doing anything. See what news are coming out for the currency pair you're trading and how will it be affected. Important news generate high volatility. Don't open trades before news time unless, again, you're really sure of what you're doing. If you chose to do so, be careful with the widening spread at some brokers. Your tight stop might get hit when the spread goes from 1.2 to 10 without the actual price even moving.
Be really careful when sizing your positions. Have strict money management rules. If you start losing, lower your position sizes at least until you get synchronized again with the market movements and start to get a feeling of what's happening around you.
Good luck with trading! And if you have any questions, you know where to ask them.
http://dailyfx.blogspot.com/search/label/tips%20and%20tricks
Hahaha... actually, if one is caught on the wrong side, one's stop-loss is practically useless...
since the slippage will be enormous...
