I´ve witnessed 10.000pips profit inthe weekend and 8.000 pips loss in a day
I'm a little confused. Do you mean 10 pips, or 10,000 pips?
I think he means 10000 pips... Thats quite possible in the recent weeks but many pairs should be traded at once... Also leaving trades open in weekends is not the right thing to do in our current market conditions...
Yes I was referring to 10.000 pips, and precisely related to the relativity of indicators and the craziness of the market, just to point out how risky is to trade forex and how profitable could result as well, so people is prepared in their minds and their pockets..
You just reaffirmed how volatile this market can be. Nowadays everything is possible, but I really want to ask you a thing, reading at your second friend's situation, didn't he used a S/L point? Because when it comes to profits, you can be lucky or a very good analyst, however loosing that amount of pips in one day, seem a bit careless to me.
Without a stop, you can lose a lot more than 10,000
I opened this thread just to make people aware of how risky could be the Forex trade and how can give you “diamonds” or “nuts”. So people can be mentally prepared either to win or lose and realize how seriously this business should be taken, as I know many people that entered thinking of it just as a game and end up biting their nails , sweating and being desperate, anxious and stressful for the one that surround them. So be careful, Forex is a serious thing and could lead to amazing wins or horrible loss A friend, last weekend (first weekend of October) left the trades opened without notice it and when he came back on Monday found that he just bagged a bit more than 10.000 pips in a weekend , he didn´t do a single analysis or used any indicator… On the other hand, another friend yesterday, was using indicators, technical analysis, fundamental analysis , he was confident on the orders he put and by the en of the day he has lost 8.000 pips… just terrible!
Well I guess your friend was really lucky. He could have ended up losing his shirt, it was a mere opportunity that doesn't come up twice. I guess if anybody here is looking to make 10.000 pips they should try a different strategy than letting an order open for a weekend.
I guess it was his lucky day. I also want to share my experience about some pips I got to make, it was actually a considerable amount of pips. I've been developing a strategy based on money management as well as risk management, only risking 2% of my total equity along with a software called multi account manager from Tradeview, it allowed me to trade my equity on different subaccounts so I am trying to trade with more lots on those pairs that seem to be more profitable and giving a chance to other pairs I never traded before, it's been giving excellent results.
A guy who looses 8000 pips on one trade is a guy who is not trading seriously. There is no point working without a stop unless you just plan to hedge your currencies for treasury related matters (for example you are receiving USD for a transaction and you buy EURUSD to end with EUR only).
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I opened this thread just to make people aware of how risky could be the Forex trade and how can give you “diamonds” or “nuts”. So people can be mentally prepared either to win or lose and realize how seriously this business should be taken, as I know many people that entered thinking of it just as a game and end up biting their nails , sweating and being desperate, anxious and stressful for the one that surround them. So be careful, Forex is a serious thing and could lead to amazing wins or horrible loss
A friend, last weekend (first weekend of October) left the trades opened without notice it and when he came back on Monday found that he just bagged a bit more than 10.000 pips in a weekend , he didn´t do a single analysis or used any indicator…
On the other hand, another friend yesterday, was using indicators, technical analysis, fundamental analysis , he was confident on the orders he put and by the en of the day he has lost 8.000 pips… just terrible!