*Official* Forex Trading thread.

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Mr.Canberra

Mr.Canberra

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No Stop Loss Strategy

Sotooong said:
I second no stop loss. But you need to monitor n for fx major pairs risks woukd be substantially lower. I thanked mr canberra for his valuable sharing.
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Your welcome. I am sharing what works for me and hope others can also benefit if they want to adopt no stop loss strategy.

justsomeguy said:
It's not a matter of strong heart, but rather of discipline. It takes more effort to recover from a drawdown than a position of gain.

Personally, I take care of my discipline and let the gains take care of itself. This has worked for me and for most professionals i know, and I would recommend this to newbies. I've also seen quite a few blowups in my life, that's why I posted this.

No offense meant, is my view and experience
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No stop loss strategy is not for every one. Just like why generals or politicians argue over strategies. Certain strategies work for certain people or situation. If it works for you then why not? :D

Insitutions have firepower and bullets to make back from all the stop losses. Mainly because they are playing with investors' money. Retail investors such as myself have limited capital so I have to play long term in order not to be eaten up by the big boys' manipulation of roti prata prices triggering all the stops for liquidity. If one does not understand this aspect of stops hunting then I have nothing furthur to say. :s13:

A stock can go to zero if a company files for bankruptcy. A bond can go to zero if the borrower defaults. But, major currencies don’t go to zero, they just fluctuate in a cross-rate relationship.

-JAMES RICKARDS
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I said many times before my strategy is long term. I can hold positions for 1 year. Can you? The above quote sums it up best why I love Forex. :s13:
 
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Mr.Canberra

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USD/CHF

USD/CHF heading to 0.975 again but I sense bull trap. It happened last Friday. :s13:

Wait for London to open at 4pm and see how.
 
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Mr.Canberra

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USD/CHF

Mr.Canberra said:
Dip buy 1 standard lot at 0.97322. :s13:

London traders coming in.
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Strayed away about 12 pips. Now recovering. Asian Institution Big Boys closing shop and started unwinding positions. Target 6pm. :s13:

Ai zai holding the line. Shoot before 6pm.
 
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Mr.Canberra

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USD/CHF

Take some money and run first. Heng arh now plunging liao. :s13:

Total gains for today is currently US$19.52 KFC profit.

KNN the instinct very scary! Dip buying chance is here. :D
 
Mr.Canberra

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USD/CHF

Re-enter USD/CHF one standard lot long position @ 0.97229.

Pivot point 0.97283.
 
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Mr.Canberra

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USD/CHF

Bulls arrived at pivot point. Took profit at 0.97278.

Total gains for today is currently US$69.90 KFC profit.

Wait for long red candles before entering again. :D
 
lovesleeping1981

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Mr.Canberra said:
Take some money and run first. Heng arh now plunging liao. :s13:

Total gains for today is currently US$19.52 KFC profit.

KNN the instinct very scary! Dip buying chance is here. :D
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I call instinct the greed trap.

Only buy based on what the chart says. Either it says buy or sell.
 
Mr.Canberra

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USD/CHF

Scalping USD/CHF.

Total gains for today is currently US$93.53 KFC profit. :s13:
 
awful999

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Today result, can sleep liao
H3w4u7ql.jpg
 
X

xXxJavierxXx

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Hello!

A) Is 10k sgd enough to start trading for forex so that each trade able to earn kfc profit? =D

B)which broker to use? Local or overseas?
 
Mr.Canberra

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USD/CHF

awful999 said:
Today result, can sleep liao
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Your Din Tai Fung profit target hit.

I just hit Din Tai Fung profit target. Damn headache now as multi task with other admin stuff while scalping USD/CHF at the same time.

Total gains for today is currently US$110.00 Din Tai Fung profit.
 
Mr.Canberra

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xXxJavierxXx said:
A) Is 10k sgd enough to start trading for forex so that each trade able to earn kfc profit? =D
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You have to be specific. How big a position are we talking about?

If just one or two standard lots with limited stop loss then S$10,000 should be sufficient.

Mine is about US$13,600 equity for playing US$260,000 worth of contracts. NO STOP LOSS. Used margin hovering between 50-60%. What does not kill you will make you stronger haha. :s13:

xXxJavierxXx said:
B) which broker to use? Local or overseas?
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Search this thread for answers. It has been discussed numerous times before.

Some people use overseas incorporated brokers as can use credit card to fund account. Leverage upon leverage haha. :D

Local brokers you cannot use credit card to fund your account. Only can fund with cash.

Anyway if I really want to leverage gao gao I will borrow money from bank in China. Flip the cash with interest rate differentials and arbitrage with Forex. If you guys see me doing that it means I am going for THE BIG LONG and biggest trade of my life. Hoot million dollar contracts with NO STOP LOSS! :eek:
 
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Mr.Canberra

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Forex Outlook

marknewlife said:
mr canberra, wht is yr view on usd movement before and after the next fed rates hike and ecb?
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USD will remain weak till year end or until near to next rate hike in Dec 2017.

USD will trade along political moves besides Fed interest rate hike and balance sheet reduction. Yes Uncle Trump will influence the volatility. :D

ECB will hold the line but EUR is long term bullish bias. Probably some slight retracement after German Federal Election in September.

xersion said:
This week usd is slow moving.... Good to earn swap
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Last night (after midnight) so boring until I dozed off at my outfield trading desk. :s13:
 
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