EUR

SAID DONT SHOUT. YOU HAVE ANSWERED YOURSELF, WHY I ASKED.

montmorency: Dirk's BWILC influenced the way Im trading, so yes I could be a fan of his approach :) And yes, the fundamentals are crucial if you want to have a longer-term view. Or better, the right analysis of fundamentals is crucial. That's why I added Ashraf's website and twitter to my toolbox.

@tanvir...thank god for my dog an the gym... i too used to watch screan..but decided awhile back that when im on wrong side of trade i get up an do somthing productive an just wait for the reversal.an i find the reversal happens much quicker..its amazing how a bad trade feels like eternity and how quick we bail on the trade once we are back to a small profit usually missing out on the big $$...thats why i wrote earlier about myself having to show more patients an step away from the computer...we burn out from watchn the screan an make careless mistakes...gl ttyl

Ashraf & Pipped,

Yes, you are correct. And I have seen that I have always made money when I play with 10:1 margin, but somehow this profit making happens for 2-3 weeks and then I start feeling for more and more and the greed grows for more thinking that aah, I missed on big opportunity had I taken more margin, and hence I do take it , and the big retracement 0f 300 pips happens right then and there I go, I lose all the hard work done for past 2-3 weeks to earn profit, I also lose the time where I do not sleep and just keep watching these numbers needlessly, I also lose the good time that I could have devoted to my family because I am fixated so much on FX.

Hi, I must totally agree with PippedOff and Ashraf about the leverage! Anyone trying to profit from currency trading should understand the randomness of short term moves and adapt accordingly. As Im unable to pick a top or a bottom (and end up with smelly finger ;) ) I want to enter the market on multiple levels in the direction of my fundamentally and technically supported view and my account must survive corrective price swings, often bigger than expected. To achieve that I don't use stops and I stick to max 3:1 to 5:1 real leverage. What does it mean a real leverage? By real leverage I mean the REAL VALUE of my positions divided by the account balance. That is, if my account size is EUR 10,000, Im gonna trade up to 0.3 lots of EUR/USD at any time. Now, what profits can be made with that small leverage?? My own results show a 2-5% WEEKLY! Last month I traded max 3:1 leverage, correcting my fundamental views thanks to Ashraf's tweets, and I made 10.2% profit and I had 86% success rate. Im turning similar results for more than a year now.