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[Trader01]

Originally Posted by tstmarkt

I only watch EUR/USD right now because I am new and need to focus all my attention on one pair.

Don't be apologetic for being monogamous -- let the hotshots play with multiple currency pairs. Its OK to look for long-term opportunities w.r.t. major trend changes in various pairs -- but this can be done once a week or once per month by eyeballing weekly/monthly charts of several currency pairs.

But for your bread and butter stay focused on just ONE pair and learn it well, its character, its nature, idiosyncrasies etc.

My personal rec is Eur/Usd; an alt. rec is Usd/Jpy, especially now with US Interest rates leaving those of Japan in the dust.

There you have it, a wife and if you so desire, a mistress.

If you get to know one or both well, you will never ever hear the dreaded, "we've got to talk" drivel again.

Don't give up too easily; Forex is a godsend.

[tstmarkt]

Trader01 that is SOO TRUE !!!!


I made 53 pips today using my pocket PC Cell Phone at work !!

[Nonpiker]

Originally Posted by graemenash

If you think 10 pips a day is a prayer, I'd suggest you quit this game now...

Don't know what you're trying to prove, but in most places an annual income in excess of $50,000 is considered "fairly good". Perhaps you should move

By the way I never said that I make 50 pips a day. I just know it's possible, thats all...

Anything is possible. I am sorry but if you live in a more affluent area in the US 50k is not getting you anywhere. You would have to pay 25% tax on that and you have no vacation and no benefits. That is what I am trying to prove. The median price of a house from where I am from is 350k. How are you going to pay for a car, your mortgage, and insurance on 50k? That is comical.

10 pips a day sounds so easy but playing it out like that is a real disservice to newer traders. The average person is by no means going to post 150% gains a year. Maybe the top 1%-.05% of retail customers can do it. If you can that is great for you. I am not trying to knock it but stating if this is not your goal for the average is really setting people up with the wrong expectations.

[magoo]

graemenash,

In every thread, you write and shout that you earn good money on forex market.
This info has no value for us if you don't tell more about your strategy, stop-loss, take profit, number of trades, win/loss ratio, winners %, etc.

I don't see who you are willing to persuade that forex is easy, except yourself.
Or maybe you only want to flatter yourself and promote your own ego?
We don't care about your ego. For us, you are only a red and white mushroom.

So please try to add some interesting things on your posts, or don't post.

[Kristoph]

So far, I would have to say that this whole thread has been fruitless!

[tstmarkt]

It did answer my question and the answer is YES you can !!

[Nonpiker]

Originally Posted by Kristoph

So far, I would have to say that this whole thread has been fruitless!

Thanks then Ill keep my mouth shut. The vast majority of people can make a living trading retail fx. Be my guest...good luck. The vast majority of folks can also play pro poker for living so make your choose.

You too can sit home and put in a few hours a day and make a nice living. Your right its "fruitless".

In fact play pro anything: football, soccer, billards, tennis, or even golf.... Start praticing because I am willing to bet your chances are near the same. Please do not be gullible.

[dkalense]

This has been a fun thread to read... I have found most threads on this forum to be informative in its own way... this one certainly has been also... I believe forex is full of promise, and laden with pitfalls which will indeed swallow most.

[graemenash]

Originally Posted by magoo

graemenash,
In every thread, you write and shout that you earn good money on forex market.

Wrap up you silly mug. Please point me to where I "shout on every thread about how much money I make" or retract the comment.

Originally Posted by magoo

So please try to add some interesting things on your posts, or don't post.

http://hiddendivergence.blogspot.com...o-updated.html
http://hiddendivergence.blogspot.com...ivergence.html
http://hiddendivergence.blogspot.com...ting-news.html

http://hiddendivergence.blogspot.com...trades_10.html
http://hiddendivergence.blogspot.com...cci-stuff.html
http://www.moneytec.com/forums/showp...11&postcount=3
http://www.moneytec.com/forums/showt...161#post120161
http://www.moneytec.com/forums/showp...74&postcount=1

Are you going to post the apology here or e-mail it to me?

[Trader01]

Originally Posted by tstmarkt

Trader01 that is SOO TRUE !!!!


I made 53 pips today using my pocket PC Cell Phone at work !!

Want to add one or more digits to that figure?

If so, then get yourself a copy of Technical Analysis of Stock Trends, 8th Ed. by John Magee, edited by Charles Bassetti.

Devour the chapters on Trendlines & Support/Resistance.

Then ravish the entire section on Reversal & Continuation Patterns.

For dessert soak up the entire chapters on Dow Theory.

Then come back here to this graveyard and have this same thread's infighting pariticipants fall to your feet and gush, "Master, guide us!"

[tstmarkt]

Trader01, I will get that book, thank you !

Did you catch the EUR\USD this morning ?

I missed the the rally at 1.1642 up to 1.1703 (sleeping) but DID ride it backdown to where its at right now at 1.1673

[tstmarkt]

Originally Posted by Trader01

Want to add one or more digits to that figure?

If so, then get yourself a copy of Technical Analysis of Stock Trends, 8th Ed. by John Magee, edited by Charles Bassetti.

Devour the chapters on Trendlines & Support/Resistance.

Then ravish the entire section on Reversal & Continuation Patterns.

For dessert soak up the entire chapters on Dow Theory.

Then come back here to this graveyard and have this same thread's infighting pariticipants fall to your feet and gush, "Master, guide us!"

I just order the book off Ebay ... for $39.00

[SonOfSoros]

Just downloaded the book from a russkie site .. and it cost $0 .. will report back how useful it was.

[tstmarkt]

Originally Posted by SonOfSoros

Just downloaded the book from a russkie site .. and it cost $0 .. will report back how useful it was.

You going to print that out ?

I enjoy a good read and take it with me where ever I go. I guess you'll be reading it from your monitor..

[mwbro]

Originally Posted by magoo

Cesar, dengkane, graemnash,

I wish you all the best in forex trading, but don't be too greedy. You surely do very well on forex at present, but what will be your performance record in 3 year ? I can't say that you will fail and lose money, but you cannot be certain to earn good money if you use 20x or 40x leverage. If you cross the road with your eyes closed, you cannot be sure to reach the other side. I'd say that at least 2 of you will be squashed by a truck.

Nonpiker is absolutely right, as always.

Graemnash, your pip average is not a calculation, it's a prayer. Hope God is listening to you.
Ok, 10 pips a day, 200 days/year. Leverage : x100, starting with 10000usd. Compute : your next 12 months return will be 190 million USD.
Congratulations! YOU are God.

Seriously, you can manage to earn 100% a year, with great discipline. Maybe you trade 5000 $ and can afford to lose 1000 on a trade. But would you take the same kind of risks with 50'000, or 500'000?

This thread is not subject to debates. Mathematical laws of the universe are not to be discussed, the can only be measured. If you target 300%/year, over-leveraging and over-trading, you WILL lose money with a probability of 99%. It is a scientific fact, not a piece of mind.

what was said above is very true especially, "over-leveraging and over-trading" this for sure will be the end of your career, this is a for sure sign you are trading in panic mode and not simply letting the trades run their course, a case of "gamblers fever"