jbutney:
Happy new year everyone. I'm so glad to be following this thread from the beginning. More pips to us. The Blues shall trample on the reds. Amen �

jbutney:
Happy new year everyone. I'm so glad to be following this thread from the beginning. More pips to us. The Blues shall trample on the reds. Amen

Donvic4u:
153 btc needed..
Who sells here?

Donvic4u:


Amen o, as it relates to pips only o..
Else reds dey tramp on blues steady

Donvic4u:
153 btc needed..
Who sells here?

djwalata:
If u have EUR long open position over d weekend, I pity ur SL because d gap no b small at all. Eur is selling no b small.
Notwithstanding, blue pips will surely fall on us.

jbutney:

I know say football fans no go like that red and blue line lol

djwalata:
If u have EUR long open position over d weekend, I pity ur SL because d gap no b small at all. Eur is selling no b small.
Notwithstanding, blue pips will surely fall on us.

highcurrent:
do you trade on weekends?
That's why SL is always advised, especially on small accounts. But in volatile market and bad brokers, it go pass the stated SL.

like IG market trades on weekends.....

djwalata:
If u have EUR long open position over d weekend, I pity ur SL because d gap no b small at all. Eur is selling no b small.
Notwithstanding, blue pips will surely fall on us.

aaaah! The gap is currently about 20 pips down from market close for eur/usd Click HERE

djwalata:
If u have EUR long open position over d weekend, I pity ur SL because d gap no b small at all. Eur is selling no b small.
Notwithstanding, blue pips will surely fall on us.

JAkpayen:


aaaah! The gap is currently about 20 pips down from market close for eur/usd Click HERE

ogashman:


How did u know this bro?

djwalata:



Eur sold off in all its pairs.
EurUsd closed on Thursday at 1.2215
Opened on Friday at 1.2136
Friday's high at 1.2227
Low at 1.2025
Closed at 1.2134

djwalata:



Eur sold off in all its pairs.
EurUsd closed on Thursday at 1.2215
Opened on Friday at 1.2136
Friday's high at 1.2227
Low at 1.2025
Closed at 1.2134

djwalata:
If u have EUR long open position over d weekend, I pity ur SL because d gap no b small at all. Eur is selling no b small.
Notwithstanding, blue pips will surely fall on us.

djwalata:



Eur sold off in all its pairs.
EurUsd closed on Thursday at 1.2215
Opened on Friday at 1.2136
Friday's high at 1.2227
Low at 1.2025
Closed at 1.2134

Shevychen2:

According to XE.com, current gap is barely 20 pips.

Shevychen2:
Some random pointers for the new year. (may not appeal to everyone though):

-Your stop loss is useless if you don't practice proper position sizing. What will happen to your account if a flash crash jumps your stop loss and sends your positions to -2000 pips negative? Position sizing goes beyond saying I risk 2% per trade. How much have you exposed to the market, even without a flash crash? If you'll lose more than a combined 10% of your account if all your opened trades ends as losses. That account may not last long.

-Ditch conventional indicators. Especially all those shiny arrows that are all based on moving averages.There is a 99% chance they won't work for you. You'll keep running around in circles with them until you either quit trading or you dump them.

-Embrace higher time frames. This is even more important now that sharp intraday market swings are common. You'll find your trade 70pips up, then one tweet or one news sends it back down to -40. On the higher time frame (daily, weekly, monthly), the big picture move will continue after the effects of that tweet or news has cleared. Seriously, if you learn how to look at the big picture, you'll be unstoppable. However, what qualifies as big picture will vary from one person to another. You also need to make sure your strategy always reacts quick enough to major trend changes even when you trade higher time frames. This part is tricky, but when you nail it down, you'll know.


-Don't pay too much attention to correlation. Most forex pairs are correlated somehow at the end of the day. Even if you choose to trade only GBPAUD, CHFJPY, and EURUSD, they are still correlated indirectly. Instead of avoiding correlation, embrace it and spread your risk properly.

-Don't trade one pair. That's giving too much power to one instrument. Your account will literally depend on how that instrument moves. Aim for around 5-15 pairs and maybe (if your account can carry it) 2-3 metals and the two major ndices in your watch list. The currency pairs should be decent movers that are not too volatile or too slow. Like USDZAR, EURGBP, CADCHF etc. The slow ones will move 20 pips in one week. The volatile ones can have 30-50 pips spreads.
As you get more entries from your list, close out partial positions to balance out your overall risk exposure.

-You won't buy skyscrapers with your less than $1000 account in one year. There's a higher chance of crashing it if you want to push the limits and make as much money as possible. You need at least $100k to start dreaming about using profits from one year of trading to build houses and that's assuming you have a strategy that will allow you make 50-100% of that every year COMFORTABLY without panic, fear etc tampering with your trading results. Of course you can find some Chinese guy or something that turned 1k to 1m USD in one year from time to time.. Can YOU do it?

With solid medium risk trading, it will take at least 10 years of compounding to convert that small account to something big. Unless you show skill early enough and start focusing on attracting investors (always the best way to go).

Remember, these pointers are not for everyone. Pick what you want, discard what you don't like. I don't have power to argue anything o. Happy New Year to everyone.