Simple Crossover For Newbies - page 3
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Do Not Over Leverage Yourself Its up to you on how much of your account is used for trading. Most say you should never risk more that 1% or 2% per trade. Now by risk they mean if you take a loss it should equal 2% or less of your account. So lets say you have $500. Your risk for loss in all open trades COMBINED should be $10 or less. Now in a micro account with average pip value of .10 Cents that means you can withstand a 100 pip loss & be at 2%.
WISE WORDS!! Thank you Bear! well said... (love the graphic examples)
I keep getting caught in the catch 22 that the safe % of my trading capital does not yield what my time is worth to monitor it. Even though I can make money with this and other methods (manual and EAs) the gains on a safe percent of my portfolio does not pay off for the time that I spend monitoring the trade... Then guess what - I find a method that starts to work well... and I ease right past my safety tolerances to make the experience worth my time and then WHAM! ya - that is the sound of me giving back...
So here I am scrounging the forum for advice and experience on a system that does not eat my TIME to monitor...
Thank you Bear! Great post
Thanks bigbear..
excelent chart & system
Thanks bigbear.. excelent chart & system
Hey jfx88,
Thanks. Hope It can make u some pips.
take care & good luck,
Bear-
I just want to know The most 100% using your system..hehehe...smetym people do mistake well because not using your rulz...
You are the great one....
Bye....BIgBear...MEEEOOOOWWWHH.......
I just want to know The most 100% using your system..hehehe...smetym people do mistake well because not using your rulz...
You are the great one....
Bye....BIgBear...MEEEOOOOWWWHH.......Hey shawonchi269,
Basically, the reason for the news indi is so a trader knows when the news will effect the pair they are using. If the trader would like 2 take the risk of staying in during the news in hopes of it moving in the current position.
Also it is there so the trader can get in after the news for a time, if it is moving in the opposite position of the trend. If it moves with the current trend then the trader can feel safe (relatively) to stay in current position or enter position knowing the news has strengthened (or weakened) the currency pair in question.
To make it simple, its there so you know when the market will be moving most & its up to the trader on what to do with the results of that news.
As for what I do, if i am in a position & i believe the news will push my trade in the right direction & I have already secured some pips, I will stay in & take the risk.
If not I will usually wait until the close of that hour to see what happens.
Take Care & Good Luck,
Bear-
any short Yen pair?
Thx bear... I did a lot visual backtest for U/J today..
Yet today i found the indicators repaint or Support and Resistance (i knew MA is repaint)
it doesn't matter S&R is repainter indicator (so do ZZ is repaint)...yet I am hard to backtest ... Are there any show repainted S&R indicator?
Hope any big guys could help.....
big bear
wanna learn from your skills about reading MA and S&R ...
Since MA and S&R repaint...which criteria will you take in order to take action?
Confirm one hour?
breakout S&R xx pip to confirm?
Update For 6/1/08
Hey All,
GBP/USD-Price gapped down at market open but has been choppy.
USD/CAD-After a somewhat choppyFriday, it has continued its strong up trend.
EUR/CHF-Still in a downtrend from Friday. Trend looks good.
GBP/JPY- Been choppy all day. Holding out for a defined trend.
USD/CHF-still shortfrom Friday & getting choppy. If you took this position on Friday I would secure some pips.
EUR/USD-Flatlined & looking like its going to fall. Look for a short soon or wait till news to establish a short trend.
USD/JPY-Still longfrom May 27th. Has been choppy since Friday. It may be dying out so look to collect if your still in. Its in +200 pip range.
AUD/USD-Short on the 3:00 GMT candle. Looking for a short trend after bad news for AUD with-0.2 retail sales.
EUR/GBP-Gapped up@ market open. Not a trustworthy time to enter this slow moving currency pair. Waiting for a trend to start.
EUR/JPY- Still very choppy. Waiting....
GBP/CHF-Moved down nice on Fridays signal. getting a bit choppybut London open may change that.
EUR/AUD- Ok, Ok I was wrong. It did start a nice uptrend on Friday late. Its still moving up nicewith a pretty strong trend.
My current open positions= (See Above Post) Short AUD/USD @ 0.9556. Original Stop @ 0.9565 (-10).New stop @ 0.9542 (+14).Currently up +36 as of this post.
See you 2marrow.
Bear-
Hey All,
....
My current open positions= (See Above Post) Short AUD/USD @ 0.9556. Original Stop @ 0.9565 (-10).New stop @ 0.9542 (+14).Currently up +36 as of this post.
See you 2marrow.
Bear-hey All,
trade stopped out with +14after big rally.
See u later.
Bear-
Hey Bear
On the Hour T/F I had a short GBPJPY at 1.00AM GMT around 207.94 currently up about 300 pips.(paper trade only though).Yet you have no mention of this one, your update says choppy waiting for trend, How do you define a trend?
Does that move yesterday define a trend?
Also is there any other gates you use to enter trades like trade only certain times of the day as we all know nobody can stay awake all day/night.
Cheers Swagman