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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:

Commodity FX (CAD AUD NZD NOK)

Discuss Commodity FX (CAD AUD NZD NOK)
 
Letisha
St. Catherine, Jamaica
Posts: 156
13 years ago
Mar 25, 2011 1:42
Just my 2 cents on the USDCAD...Anyone notice that H&S on the H4...a break of the neckline will rake you in a nice 250 pips! That's the height from the Head to the neckline...nice high probability trade!
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 24, 2011 22:02
Think about this:-

When the growth of electronic trading forced mass redundancies for floor traders many turned to trading their own accounts from home base. The vast majority however phenomenally successful they had become started losing money.

Why?

Because they were previously working under a strict boss who imposed strict rules. They were not cut out for being self employed and failed to employ the required disciplines that any serious self employed business owner would understand.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 24, 2011 21:40
The markets will eek out any weakness in your system and screw you for it. You can be 100% sure of that.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 24, 2011 21:35
@ lucky, trading is all about strict disciplines and psychology. You have to be in control of yourself and that means "knowing" thyself. I would suggest if you mean to continue you should trade minimum size to develop a consitently winning edge. Only once you are confident you have a highly refined personal system should you very gradually increase size.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Mar 24, 2011 19:52
@forum..what ya think about the pullback in gold.??thanks gl:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Mar 24, 2011 18:43
yup i agree its a crazy ride i too held on too long and let my position get too big and took a hit recently...but im learning from my mistakes and growing as a trader:)..waiting patiently for the sign to reenter..ok gl guys:)
lucky
ibadan, Nigeria
Posts: 377
13 years ago
Mar 24, 2011 18:07
fast pips i agree with you these is what i am planning to do but i realize that no matter what you win in forex you are looser cause if you gain you need more as if it is easy and if you loose you want to recover
lucky
ibadan, Nigeria
Posts: 377
13 years ago
Mar 24, 2011 18:04
dave i was making profit of 380,000$ and every thing went in short silver and long usd aginst chf and jpy since 24/aug/2010 that was my black turning day my mistake is that i didnt exit if i was smart i would have listen to gunjack adive but i miss it
fastpips
surrey, Canada
Posts: 69
13 years ago
Mar 24, 2011 18:01
lucky, this is my fourth year in this business. I have only started making money about six months ago. Before that I had lost over 150k . Now I use low leverage and bigger time frame (4h, daily), before I was using high leverage and small time frame (5m, 15m etc.). I believe one should take it as a business to succeed. Good Luck
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 24, 2011 17:26
lucky, you could study to become a brain surgeon, quite well paid job and interesting. Also you can quantify the remuneration to be expected from your labours after the training period is finished. Trading not so easy.