*Official* Forex Trading thread.

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Mr.Canberra

Mr.Canberra

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USD/JPY

USD/JPY bulls tested the resistance at 115.05 and broke.

Momentum lai liao. :s13:
 
neoartz

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What a wild ride for today :s13:

Overall gains : 10 pips (Initially was down 90 pips cos trade go wrong way):s13:
Heng heng managed to breakeven:D
 
Mr.Canberra

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neoartz said:
What a wild ride for today :s13:

Overall gains: 10 pips (Initially was down 90 pips cos trade go wrong way):s13:
Heng heng managed to breakeven:D
Click to expand...

Your risk appetite is also getting higher? :s13:

I think you guys are starting to get the hang of it. This is what I meant by letting it run its own course. Use stop loss sparingly because your profits will be eaten by frequent stop loss cuts.

EUR, GBP and JPY are highly volatile especially if there are major data releases. The price movement will prata (range bound) multiple times and triggered all stops both north and south bound.

Sometimes we must also learn how not to trade when positions are stuck. Do not do dollar cost averaging with multiple positions on same currency pair because your used margin will be under stress.
 
Last edited:
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Daimon

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Mr.Canberra said:
Your risk appetite is also getting higher. :s13:

I think you guys are starting to get the hang of it. This is what I meant by letting it run its own course. Use stop loss sparingly because your profits will be eaten by frequent stop loss cuts.

Sometimes we must also learn how not to trade when positions are stuck. Do not do dollar cost averaging with multiple positions on same currency pair because your used margin will be under stress.
Click to expand...

Wah so far 90% of my trades are USD/JPY
 
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Mr.Canberra said:
Your risk appetite is also getting higher. :s13:

I think you guys are starting to get the hang of it. This is what I meant by letting it run its own course. Use stop loss sparingly because your profits will be eaten by frequent stop loss cuts.

EUR, GBP and JPY are highly volatile especially if there are major data releases. The price movement will prata (range bound) multiple times and triggered all stops both north and south bound.

Sometimes we must also learn how not to trade when positions are stuck. Do not do dollar cost averaging with multiple positions on same currency pair because your used margin will be under stress.
Click to expand...

Cannot sleep at night if no stop loss. But what I learn is not to put stop loss at support levels. Put them below.
 
Mr.Canberra

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USD/JPY

Daimon said:
Wah so far 90% of my trades are USD/JPY
Click to expand...

USD/JPY has recovered and continues to surge higher. :s13:

Daimon said:
Cannot sleep at night if no stop loss. But what I learn is not to put stop loss at support levels. Put them below.
Click to expand...

You need to train more. Your heart not strong enough. :D

A buffer of 5-10 pips is good.
 
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neoartz

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Mr.Canberra said:
Your risk appetite is also getting higher. :s13:

I think you guys are starting to get the hang of it. This is what I meant by letting it run its own course. Use stop loss sparingly because your profits will be eaten by frequent stop loss cuts.

EUR, GBP and JPY are highly volatile especially if there are major data releases. The price movement will prata (range bound) multiple times and triggered all stops both north and south bound.

Sometimes we must also learn how not to trade when positions are stuck. Do not do dollar cost averaging with multiple positions on same currency pair because your used margin will be under stress.
Click to expand...

Yeah.. i realised no point to DCA the same currency pair.. Trying to fix this habit

Now i just use indicator + check the weekly outlook for the currency pair that i'm trading lol :D

Currently i avoid GBP first lol.. that 1 i'm not familiar with the market sentiment

In order not to stress myself, i set low leverage and trade small.. my rules is to keep free margin above 180% lol
 
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[M]aiev

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neoartz said:
Yeah.. i realised no point to DCA the same currency pair.. Trying to fix this habit

Now i just use indicator + check the weekly outlook for the currency pair that i'm trading lol :D

Currently i avoid GBP first lol.. that 1 i'm not familiar with the market sentiment

In order not to stress myself, i set low leverage and trade small.. my rules is to keep free margin above 180% lol
Click to expand...

No trader will DCA in the losing position as the basic rule.
 
Mr.Canberra

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neoartz said:
Yeah.. i realised no point to DCA the same currency pair.. Trying to fix this habit.

Currently i avoid GBP first lol.. that 1 i'm not familiar with the market sentiment.
Click to expand...

If a trade did not go my way I just let it run its own course till break even or take some profit.

GBP not advisable to trade because very unstable. If you tio Brexit or flash crash your heart will suffer. My strong heart also stopped beating for 1 second! :eek:
 
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Mr.Canberra said:
If a trade did not go my way I just let it run its own course till break even or take some profit.

GBP not advisable to trade because very unstable. If you tio Brexit or flash crash your heart will suffer. My strong heart also stopped beating for 1 second! :eek:
Click to expand...

I am afraid of USD flash crash.

One day bound to happen.
 
awful999

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no strength to really trade after long hour working this few days, cannot concentrate and make some mistake...:s22:
 
Mr.Canberra

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USD/JPY

Magic time approaching soon.

Traders should be squaring off USD/JPY positions between 12:00-12:30am.
 
neoartz

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awful999 said:
no strength to really trade after long hour working this few days, cannot concentrate and make some mistake...:s22:
Click to expand...

That's why it is good to use micro to test first.. at least the damage is reduce alot ;)

Mr.Canberra said:
If a trade did not go my way I just let it run its own course till break even or take some profit.

GBP not advisable to trade because very unstable. If you tio Brexit or flash crash your heart will suffer. My strong heart also stopped beating for 1 second! :eek:
Click to expand...

Yeah that's why after the flash crash sagat, really must keep float margin at healthy level. That crazy long candle really is no joke :zonia:

[M]aiev said:
No trader will DCA in the losing position as the basic rule.
Click to expand...

Yup.. still learning and picking up the art that's why i dun play big trades :o
 
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