*Official* Forex Trading thread.

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awful999

awful999

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Mr.Canberra said:
Yes you can say I have missed a lot on opportunity cost. I agree on this aspect.

But many did not realise that when you do not have form the amount of stop losses will just accumulate. Sometimes must learn how not to trade and take a break (where else JB lah). =:p

Trading is also similar to sports or gambling. When no form means no form. Damn sian and dulan de. :s13:
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:D true, thanks bro, just wonder why only
 
awful999

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Clock said:
what determine you guys to place a trade ? do you do comparison of the chart over all timeframe ?
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By right, should look at all big timeframe to look at overall direction, then short timeframe to enter/exit, but but sometimes hand itchy like to try the other way which is bad habit..:s13:
 
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Mr.Canberra

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Clock said:
what determine you guys to place a trade? do you do comparison of the chart over all timeframe?
Click to expand...

TA analysis may also go haywire when some breaking/shocking news announced suddenly.

http://forums.hardwarezone.com.sg/s...-trading-thread-5511750-36.html#post105066799

TRICKS OF THE TRADE
1) Work out a strategy that suits your trading style.
2) Capital preservation. In this game the winners are marathon runners not sprinters.
3) Before each trading day read up financial news and upcoming economical data release timeline first.
4) Have a healthy margin level. In case flash crash happens.
5) Trade currency pairs with tighter spreads and high liquidity.
6) Risk to reward ratio. If instinct tells you it is a bad deal. Walk away. Plenty of opportunities going forward.

There are too many factors to list here. One will learn as you go along. Eg. AUD, NZD, CAD are correlated to commodities prices.

RISK MANAGEMENT
Low risk appetite: Place stop loss at 10 pips.
Medium risk appetite: Place stop loss at 20-30 pips.
High to extreme risk appetite: Place stop loss from 50 pips to no stop loss. :s13:
Click to expand...
 
Mr.Canberra

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Forex Outlook (12/12/2016)

No major economic news/data release today.

Notable news is that crude oil price spiked again today. CAD is a major beneficiary.

Crude Oil is up.
US Futures and gold is down.
 
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awful999

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USDJPY

Take 35 pips on table first, one more long to go...


wonder can break 116 or not :D
 
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Mr.Canberra

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USD/JPY

Purposely wait till London market open to open USD/JPY LONG position at ¥115.836.

Hitting ¥116 is not a problem today. :D
 
Mr.Canberra

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USD/JPY

Your ¥116 stop limit SELL order triggered! :s13:

I am still holding my cum. Don't shoot yet. :D
 
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