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  1. #21
    Supporter and Investor! Wolverine's Avatar
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    Is anybody goin' to San Antone ?
    "it just may be a lunatic you're looking for" -- Billy Joel

    "Thursday is no longer cruciferous vegetables night" --Dr. Sheldon Cooper

  2. #22
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    It's been a while, but yes this site is great! Not slow at all, doesn't freeze up anymore for me
    Have you hugged your dinar lately?:sun:

  3. #23
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    Remember me?

    Quote Originally Posted by dejavu View Post
    It's been a while, but yes this site is great! Not slow at all, doesn't freeze up anymore for me
    I am DinarKing on some of the other sites.. Deja where the heck is Shotgun Susy? hahaha
    Success Comes In Cans...Not In Cannots.

  4. #24
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    Quote Originally Posted by RKING View Post
    I am DinarKing on some of the other sites.. Deja where the heck is Shotgun Susy? hahaha
    I haven't the foggiest........haven't seen her around for years
    Have you hugged your dinar lately?:sun:

  5. #25
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    Day trading has become popular in the last decade. There are many people now who make a successful living by trading different markets. Day trading or swing trading which is better?


    Day trading is often depicted in a glamorous manner in the trading literature. Do you know this that day trading is stressful and day traders are often referred to as the kings of stress. Now I am not saying that day trading is something you should avoid. There are people who are masters of day trading and this trading style suits their personality.


    However, in my opinion swing trading is a much better option. In day trading you have to sit in front of your computer terminal watching the different charts and waiting for the trading signals. You can do that for a few days but after that fatigue and stress will overtake you especially if you have been making losing trades.


    In day trading you open and close a trade within the same day and don't carry forward your trade overnight to the next morning. As compared to that in swing trading you can open a trade anytime of the day when the moment is right and can keep it open for days as long as your profit target is not met.


    In swing trading the profit targets are also much higher as well as your stop loss is also more wide so you have more space. Swing trading depends on riding the trend at the right moment and continue riding it as long as it lasts. Day traders are looking for short term trends that may not last more than 24 hours but sometimes as a day trader if at the end of the day you have a profitable position and you feel that you should keep your trade open for a few more days you decide to carry it forward to the next few days.


    So sometimes you start as a day trader but end up as a swing trader. In swing trading you don't need to monitor your trade all day. After opening your trade and putting your stop loss and take profit orders you are free as the market will take its own course after that. You only need to take a look at your trade for 10-15 minutes a day anytime of the day that suits you. As long as your technical analysis was correct, your trade will work. So you have much more freedom in swing trading specially for those who do a regular job and trade as well.

  6. #26
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    Know that day trading isn't investing. Day trading is also not gambling. But the lines between trading, gambling and investing can be thin. You should understand where the difference is. You will be in a better position to follow your trading strategy. You will also make more money. You should avoid the trap of gambling. This way you will be in a better position to preserve your capital.


    What is the difference between investing and gambling? It is the risk and return tradeoff. The odds are generally in your favor in investing. However, it does not mean that you will make money. It only means that there is a good chance you will make money if you have done your research well. Some day traders end up gambling.


    Investors, traders and gambler have one thing in common that you need to understand. They put some of their money on risk. They hope of getting a return if they are right. You should take trading as a business. You should also know about the potential risk. You should also know about the sources of your potential return. This will make you better off in the long run.


    What is your reward? Your reward is that you get fair compensation for the risk you took. What is your risk? Risk is that you won't get the expected return. Risk is the probability of a loss. The riskier something is, the more chances of a loss.


    The reason there is a balance between risk and reward is that financial markets like the stock markets and the currency markets are reasonably efficient. This market efficiency means that prices of securities and currencies reflect all known information about the companies and the economy.


    Investing is putting your money at risk to make a return. Investing is the basis of modern day capitalism. It is the way that businesses get started, roads get built and the economy grows. Investing is always focused on the long term. In investing, you buy stocks of companies for three to five years at least that are good but have gone out of favor for the time being.


    What is trading? Trading is the act of buying and selling securities. Investors also trade but they trade only when they find a good opportunity. They expect that by investing they will give them a good profit in a few years time.


    Traders look to take advantage of short term price discrepancies in the markets. Trading keeps markets efficient by creating short term supply and demand that eliminates price discrepancies. Speculation is related to trading.


    A gambler puts the money on line in the hopes of getting a profitable payoff if a random event occurs. The probability of that random event occurring is usually very small. The odds are always against the gambler. They are in favor of the house. However, a gambler always believes that the odds can be beaten. He wants to win big.


    Always remember, trading is not gambling. Traders who do not give attention to their strategy and its performance can cross over into gambling soon. They view the blips on their computer screen as a game that they can win. Soon they are trading as if they are in a casino with odds as bad as a slot machine. They start making trades based on emotions without any regard to the risk and return.

  7. #27
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    First 100 Live Trading Challenge How To Make Your Very First 100 Live Trades

    Live forex trading is a challenge. You have to come up to it or the market will simply destroy you in your first 100 trades. If you can survive your first 100 live trading challenge, you can survive the market in the long run. First practice on your demo account. As a rule of thumb, first triple your demo account twice in a row only then think of trading live.


    Tripling your demo account is not that easy. For that you will have to first select a trading strategy and a trading system plus a currency pair that you will have to master. Suppose, you have practiced on the demo account and you have finally selected a trading system and a currency pair that was able to triple your demo account twice. Now, you are ready for your first 100 live trading challenge. But don't take it easy. Even though, you have tripled your demo account, don't make the mistake of thinking that you have mastered your trading system.


    Live trading is quite a different ball game than demo trading. Let me explain! In demo trading, no emotions are involved. You are trading with fake money. You know even if you lose, it doesn't matter. But it is an altogether different matter on your live trading account. If you lose, you lose! It is as simple as that.


    On your demo account, a trade might get executed as their is no slippage but on your live account, a trade that was possible on the demo account may never get executed. So, both the demo account and the live account behave in different manners, you need to know this. This is very important.


    Suppose now, you have a trading system, you have selected a currency pair and you have demo traded tripling your demo account twice. Now, you are ready to switch over to your live trading account. Take your first 100 trades seriously and consider them to be part of your learning process. You will be trading live. You can lose, think it like this.


    How much you need to start with? Many new traders think that having a large amount in the account, will help them in making winning trades. Nothing can be further from the truth. Trading large amounts of money without having the skills will only make you lose your hard earned money. So, don't do that. What you need is to start with $5,000.


    Amount less than this will only hamper you in implementing your trading strategies. With having at least $5,000 in your account, you can implement all those trading strategies that can be used on any account size. Now, read this carefully. 1 pips is equal to $10 on a standard lot with a 1 is to 100 leverage. So, if you lose 20 pips, you are going to lose $200 which comes out to be 4%.


    In your early stages of trading experience, a sequence of just a few losses like this can simply wipe your trading account. So, make your first 25 trades with a leverage of 1 is to 10. What this means is that 1 pip loss will be equal to $1 only. So, losing 20 pips is like losing $20 only. Similarly, place the next 25 trades with a leverage of 1 is to 20. This would translate into 1 pips being equal to $2. This will make you learn how to handle leverage.


    Take these first 50 to like a marathon runner, getting into shape. Your target should be 10 pips per trade for the first 25. Once, you have achieved that consistently, increase it to 20 pips per trade for the next 25. Set your risk to be not more than 4% per trade in any case. Don't use less than 5 minutes charts. Log each trade into a trading journal. After your first 50 live trades, make an assessment of your performance.


    If you feel like you can repeat, the above procedure for the next 50. If you feel confident, increase the leverage to 1:20. Only trade on a standard lot if you have a high probability setup. Good Luck!


    v

  8. #28
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    One of the Forex Day Trading Strategy that is often used by day traders is to buy and sell the same currency pair, same lots same time. In other words, you are taking both long and short positions in the same currency pair at the same time.


    For example, buy 1 lot of EurUSD at 1.4239 and sell 1 lot of EurUSD for 1.4234. Note the difference between the buy and sell rate. This is the spread. Why pay the spread? The reason for buying and selling the same currency pair, same lots, same timing is that you are hedging your position. The up or down movement of the currency pair will provide you the opportunity to make profit. Place a stop loss of 5 pips and take profit of 15 pips on both the orders.


    Suppose the rate goes up. The take profit order will close your long position (buy order) when it reaches a profit of 15 pips. For the sell order, the stop loss ensures that you only lose 5 pips. Your net gain 15-5= 10 pips. In this case, the winning buy order provides the foundation of 15 pips. By placing the stop loss you lock in your profit of 10 pips. 10 pips gain means $100 profit on a $1000 deposit with 1:100 leverage.


    Never ever trade without a stop loss otherwise you can lose your deposit in no time. If the EurUSD rate goes down, stop loss closes your buy order at 5 pips loss while the take profit order closes your sell position when you reach 15 pips. Your net gain: 10 pips. This forex day trading strategy works very well in a yo-yo market. How to get a yo-yo market? Time your orders with a fundamental announcement.


    Now, you can practise with this forex day trading strategy on your demo account. Do at least 10 trades. This day trading strategy does not need more than 10 minutes for you to implement. With practise you can increase your pips to 20,30,40 or even more.


    The days of manual trading are almost over. With the introduction of the metatrader platform and the use of MQ4 robotic script, most of the forex traders now use expert advisors also known as robots to trade automatically. People are making thousands of dollar on autopilot with forex trading robots.

  9. #29
    Supporter and Investor! Wolverine's Avatar
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    "Hello, I am John Smith-serial spammer" will suffice, no need spamming the effing introduction thread too !
    "it just may be a lunatic you're looking for" -- Billy Joel

    "Thursday is no longer cruciferous vegetables night" --Dr. Sheldon Cooper

  10. #30
    Supporter and Investor! Ringworm's Avatar
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    Hey guys and gals. Have you Okie lately?
    A veteran - whether active duty, reserve, national guard or retired - is someone who, at one point in their life, wrote a blank check made payable to "The United States of America", for an amount of "up to and including my life." - That is Honor, and there are way too many people in this country who no longer understand it.:rock:

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