honeric01:

So you trade currencies too?

odiaero:

ye, am a full time trader

honeric01:

cool, what pf do u use?

odiaero:

it seems u are using macro account. apart from that, the Fxcm, is it their trading station u are using or meta4?

honeric01:

Macro account? nope, only on Marketiva, the rest are Mini. i use FF station not the MT4, but i don't currently trade with them, have issues with them on my account.

odiaero:

that is wht am trying to say, u dont hv standard account yet, if not, i was wondering wht u are doing with those brokers

honeric01:

Nah bro, my equity is not that high, can't go on with Standard, if all plans go well, i should be qualified for Standard account come January 2011, minimum with migfx is $5k so is fxcm (standard). with profit, i should have more than triple of that by next year, but this is forex, anything (i allow) can happen.

odiaero:

ok, as for me, the minimum account i operate is 30kEuros while maximum is in millions of Euros, forex is the best bizness to me in the world

honeric01:

really? that's kinda high, i don't have that kind of fund to put in as capital, that makes us different abi? well, it's a gradual process, my aim is to have $10k by the start of January, i always project 6 months for review. $10k is going to serve alot for me. 10-20% every month always my target.

odiaero:

that is cool, u kwn like me, am a private trader, and hv some few billionaire investors, so i used their money to make more money, and it is yearly contract that is where i got the huge advantage, once u knw forex then ins and outs, u are done with any other bizness

honeric01:

Ah, now i see why your case can't be compared with mine, wish i have patient investors, the investors coming my way wants their %% every month for 6 months, imagine?

odiaero:

ye, u can do that, i started like that b4, infact it was the investors that decided they wanted it yearly

honeric01:

I was once a scalper until i crashed my first account thanks to bad internet, i entered a trade with 20% of my equity aiming for 15 pips without sl, got disconnected, my internet failed to connect for the whole day, i kept looking for where to get access to internet, when i finally did, my pos was already in -209, Account CRASHHEEDDDDDDDDD. took me 1 month to get my senses back.

Kashif:

Hmmmm! Please please dont trade without SL, not matter how many times it was hit and the trend reversed shortly afterwards. The last 10 SLs I used were hit and the market went back to the original direction. That will never deter me from using SL; this is because I have been burned severely before. I have lost 420pips before, on a standard account, and many other hundreds. (thanks to money management). If not for the fact that I manage to get some profitable trades, I would have been out on a second account reload.  As a matter of fact, as soon as I place a trade, I put in my SL.

I have never experienced internet failure but I know it could be very disastrous for a trader who does not use SL. Hope you've learned your lesson.

It is a journey.

honeric01:

Bro, trust me, ever since then i don't trade with sl, then i use to wonder whether the broker was targeting my SL or not because almost all my sl was hit whenever i set sl and tp never hit, but now, i think scalping is the best, just watch, read my system, get the trend, once its confirmed, i enter and then set sl at +15.