Forex Tradingwithrayner

[ranjiaorang]

what is the min capital to start investing with?

 

[kjke1986]

Hi Rayner,

Do you have any good ECN brokers to recommend? Also, how do you know a broker is an ECN as opposed to a market maker?

Thanks!

 

[tradingwithrayner]

Hi Rayner,

Do you have any good ECN brokers to recommend? Also, how do you know a broker is an ECN as opposed to a market maker?

Thanks!

I've heard good reviews on dukascopy and mbtrading which i believe are ECN.

But please do your own due research rather than my own opinion.

Cheers!

 

[tradingwithrayner]

Weekly analysis 30-06-13

 

[revered_man]

Can you shed some light on your money management (if any)? Do you use variable or a fixed percentage (2%) per trade?

Thanks!

 

[tradingwithrayner]

Can you shed some light on your money management (if any)? Do you use variable or a fixed percentage (2%) per trade?

Thanks!

That's a good question.

I usually risk 2% of my own account size.
However that is considered pretty aggressive if you ask me.

So if i have a 1k account, i risk $20 per trade. If my accounts dip to $900 i still risk the same $20 per trade. If it dips to 500, then probably something is wrong with my approach and i stop trading altogether.

If it increase to $1500, i may consider risking $30 per trade, which is still 2% of my account.


.

 

[tradingwithrayner]

Chart talk 03-07-13

The power of the engulfing pattern. Now you guys know why this is one of my favorite!

 

[revered_man]

Hey there again Rayner, apologies for the constant barrage of questions May I know what your definition of engulfing candle/pattern is?

From my understanding, an engulfing candle/pattern is a candle which engulfs the previous candle. In other words, the engulfing candle will engulf the high to low of the previous candle.

But from your charts, some candles do not engulf the previous candle. Could you kindly provide some explanation.

Thanks (again) !

 

[tradingwithrayner]

Hey there again Rayner, apologies for the constant barrage of questions May I know what your definition of engulfing candle/pattern is?

From my understanding, an engulfing candle/pattern is a candle which engulfs the previous candle. In other words, the engulfing candle will engulf the high to low of the previous candle.

But from your charts, some candles do not engulf the previous candle. Could you kindly provide some explanation.

Thanks (again) !

Hey! No worries i'll do my best to ans your questions.

My definition of engulfing is when the body engulfs the body of the prior candle.

However i do take note of the size of the engulfing pattern and also the wicks of the candle. E.g. a bearish engulfing pattern, i would like to see little to no wicks at the bottom of the candle. Vice versa for bullish engulfing

Cheers!

 

[act333]

Fellow forex trader reporting in! Wanted to start my own thread, but this will do for now lol.

Btw, Rayner you don't have any preferred currencies or position sizes to trade? Cos I see your myfxbook like vary quite a bit. Was wondering how you actually determine your position size. Thanks!

 

[tradingwithrayner]

Fellow forex trader reporting in! Wanted to start my own thread, but this will do for now lol.

Btw, Rayner you don't have any preferred currencies or position sizes to trade? Cos I see your myfxbook like vary quite a bit. Was wondering how you actually determine your position size. Thanks!

I risk 2% of my account. Thus if i have a wider stops, the position size will shrink. If i have a smaller stops, the position size will increase.

If i lose, the max i will lose is 2% of my account. Thus my position size varies as my stops for each trade will vary.

Cheers!

 

[act333]

i see. btw there's a H&S on EURJPY daily chart. Heads up!

NFP today. Trade safe.

 

[tradingwithrayner]

i see. btw there's a H&S on EURJPY daily chart. Heads up!

NFP today. Trade safe.

Thanks for sharing.

Yeah its NFP, price is usually quiet leading to the news. So i usually just call it quits and continue trading the following week.

Cheers!

 

[tradingwithrayner]

Weekly analysis 06-07-13

Covering the USDJPY, EURUSD and EURAUD.
This week i go into details on how to trade the short side of the EURUSD which yield 3 profitable trades!

 

[act333]

Long NZDUSD!

TP 0.82 SL 0.765

 

[revered_man]

Long NZDUSD!

TP 0.82 SL 0.765

bro, what's your MM in general?

 

[act333]

The trade must have a risk to reward ratio of at least 1:2. Like for my NZDUSD trade, my stop loss is -60 pips but the reward is much larger at +480 pips.

For position sizing, I just use 75% of my max available leveraged value. But you must see your risk appetite, if you prefer slow and steady then should follow rayner's 2% stop loss limit. For me, 1 losing trade can wipe out 10% of my capital, but 1 winning trade can add up to 40%.

EDIT: I also enter and exit by scaling in and out of my positions. This is to get better price and lock in profits respectively.

 

[guowei]

The trade must have a risk to reward ratio of at least 1:2. Like for my NZDUSD trade, my stop loss is -60 pips but the reward is much larger at +480 pips.

For position sizing, I just use 75% of my max available leveraged value. But you must see your risk appetite, if you prefer slow and steady then should follow rayner's 2% stop loss limit. For me, 1 losing trade can wipe out 10% of my capital, but 1 winning trade can add up to 40%.

EDIT: I also enter and exit by scaling in and out of my positions. This is to get better price and lock in profits respectively.

75% is insanity.... i use 10% of my margin, even then i sweat alot

good luck bro!

 

[guowei]

Long NZDUSD!

TP 0.82 SL 0.765

i also want to long... but strong USD data and weak NZD news.... i foresee short term extreme down trend

 

[act333]

Yeah I totally agree 75% of margin is very risky. But it works for me so far.

I am a pure TA person haha. So fundamentals I don't really take note, unless its NFP or interest rates decisions.

Wasted sia. Now NZDUSD up 50 pips liao