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Forex Junction

What pairs did you trade with Mr. Cashier Tan?  How many pips profit were you targeting with 100 pips Stop loss? I'm just wondering :)

In longer period chart it is showing that market is moving sideway.  Don't put your TP too high.  It's better to carry your trade, when close half or your position for anticipation.

open two position which each has half of your power.  One of them has target half of your usuall exit point.  Once first exit point  is reached, shift your second stop loss to your entry point.

cashiertan      ( Date: 15-May-2008 23:24) Posted: anyway market has been very choppy recently, i made 3 loses of 100+ pips this weeks with loses of 10k + this month alone. Hopefully will end positive at end of the month

 

anyway market has been very choppy recently, i made 3 loses of 100+ pips this weeks with loses of 10k + this month alone. Hopefully will end positive at end of the month

 

yes thats y i say you are a theroist who are suitable for academic stuff, not trading Traders are all pratical ppl , including Warren buffet, Philosophers dun make good traders , since they have "seen" it all, better be monk as monk break free from worldly things like money.

I areadi read you well long ago from what you read and i know you wont be a good trader as traders belongs to  certain breeds of ppl only, those with the right character.

 

that is one of the reason why most ppl can make it as traders (mentioned it long ago in this forum) just like traders usually dun make it as a philosopher. trader and philosopher are water and fire., dun mixed at all.


 
Read books read books. only know how to study Lose (translate read books in chinese)
..

 

 

 

anybody wants to real a joke novel can download it for free at:

http://www.esnips.com/doc/54d89088-e758-4879-8e96-6bc9acdece60/Bird-watching-in-Lion-Country

 if u like it than buy else dun even bother to print it out


just dun trade as what is written. it is not pratical as it is not written by a real trader.  

 

oh Yes, i always forgot jokers of forum usually only can entertain the forumers... dun think they can do anything in real life..

Lion country ebbok? lol . guys just go ask any  real forex trader how is this book. and u know why i think it is crap.
 

 

ipunter, u make kachang puteh doesnt mean i make like u. ur trading skills sux lah.

consistent 400-800 pips )x 10-15 standard lots profit month in month out is kachang puteh? do your maths lah.

this kachang puteh "peanut" is the 600k P.A. type, i think selling crappy ebooks is kachang puteh.. thats why u selling now for trying to make a living. You buay kan in Forex doesnt mean others buay kan.. look at tabbykay. started much later than u and mich younger than you areadi making consistent "peanuts" week in week out. u so old and so many years trading liao still cant make it in tradings... haiz


 


 

 

Elfin... :)

You are right about trading methods.

However, when a person becomes very good in trading as to be even invincible, he will definitely
want to up the ante. This is a normal and the usual pattern with so-called good traders...

(And this is why I recommended "Lion Country" book )...

 

Elfin... :)

What technicals are you referring to?

By the way it seems to me you've chosen the USD/JPY pair. I just love this pair
and I am going to stick to just this pair. Because volatility is good...

 

hey baseerahmed, thanks for the cheers. :)

and yeps, cashiertan, agree with you that ego gets one nowhere in the market. after all, we're small fries, and we got to remember our position (esp in the stock market). No point thinking one's big, and going against the BBs. agree with you too about forex: that it's about small consistent profits, not big bangs. Basically, one can only make what one's capital is. If you overreach, yes, you may hit it big, but the chances are also great that you'll lose it all.

it all depends on one's personal risk/reward appetite, though. Nothing right or wrong either way.

For me, i won't risk everything tho. The fact is, even for investors, they don't make it big by one big bang. Even Buffett didn't become rich overnight. If you track his funds, what they simply do, is to return 15% yoy on average, for 40 years. These years, he even warned that he'll return only betweenn 6-10%. True wealth takes a long time to build. 

right now trying to key the technicals for the jpy/usd. if anyone has any opinions, wld be glad to listen. :)

 

 

 

Yes, yes...you said it... hehehe...

That's why the mental/philosophical aspects of the game is of such profound  importance...

(Hence the books I recommended)

 

So long as it moves, we can trade it. Ultimately, we are facing the same enemy whatever we trade in, that is, ourselves.

 

 

 

good job. welcome to the forex trading with me. soon u will be sian of stocks liao.

yes elf have got the trick almost correct in forex trading.

 

it is why i hardly bothered with stocks now. week in week out cosistent profit w/o worry abt insiders and BBs manipulate the forex pair. to move the market, almost 60% of the institution need to move together. that is like 1 trillion dollar for the USD pairs alone. if they can move that, i think it is dumb u do the opposite as them.

one of the reason i wanna say is that dun bother with crappy ebooks when a simple but effective methods more than make u profits in forex..

u read shit, u listen to shitty ppl u get shit results. simple as that for u reap what u sow theory..

 

Lastly, ego get u no where...  

 



 

 
 

 

elfinchilde :



 

 

have just tried out forex (demo acct only; not starting live yet). just personal observations:

btwn stocks and forex, forex is easier for a techie. if only for the simple reason that the forex market is too huge to be manipulated. whereas in stocks, let's face it, there are players in the counters and most counters are a hung jury. If you track counters long enough, you can even know which counter is a 'favourite' of which specific BB. (disclaimer: my personal opinions only)

forex responds more purely to the charts, so you don't have to use multiple indicators, BUSD etcetc to judge.

have been trying to key the technicals for each pair. so far so good. (working on the USD/JPY pair now). The euro/usd is a cinch to call. Only need SMA and candlesticks on one chart.

Realised why a lot will lose in forex though. It boils down to one word: discipline.

Don't enter a trade if the signal doesn't read buy. Don't chase a trade: let it come to you. Oh, and go small. Consistent profits daily/weekly. Not big bangs. That tends to get overridden by emotions.

And most importantly, never go against the trend.

meanwhile, back to the practice room for elfie. If anyone has any good advice, i'd be glad to learn.  

PS: i find the stop losses fiddly to set. *need more practice*

 

 

i applaud ur futile resistance for trying to still make money from selling crappy ebooks. well, if u had put the same effort in doing real trade and learn trading. u could have make it somewhere areadi. ROFL