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- Silver777 replied Jan 12, 2015
This depends on your broker's execution policies and whether your orders are market orders or pending orders, it's nothing that I can answer. However if you place pending limit entry orders at a specific price then there shouldn't be any slippage ...
- Silver777 replied Jan 10, 2015
Hi Tom, Great posts! I admire the way you are able to take small intrasession trades and hang on to them as well as maintain equity/balance relationship. I've tried to trade like this before with quick entries tight stops on high leverage to surf a ...
- Silver777 replied Jan 9, 2015
Yes, in regards to your first question. I think Adal answered your 2nd question quite well and I agree. When putting on large positions I would break them up into multiple orders and not exceed 5 lots a clip, this can be increased to 10 or even ...
- Silver777 replied Jan 8, 2015
Torrent, I can relate to how you feel. For me, the last major barrier to profitable trading was too much idle time. When I was still learning to be profitable, all my time was focused on learning, studying, improving and making tweaks here / there. ...
- Silver777 replied Jan 8, 2015
I think a clear definition of "timing" is needed. If you are talking about when your trading rules let you enter/exit and whether you get in on time or too early or too late, then this would depend on how you are trading. I've experienced that ...
- Silver777 replied Jan 8, 2015
It depends on the currency pair (EURUSD is more liquid and can fill larger orders at one price than say ZARAUD) as well as the market conditions (if your a buyer during a market panic or a seller during a market euphoria, you could possibly ...
- Silver777 replied Jan 8, 2015
Great post Mantis! The less screen time the better, I've learned the hard way that if I stare at a chart long enough, I could delude myself into anything. The first big trend that you catch makes it a lot easier for the ones that follow. Also ...
- Silver777 replied Jan 8, 2015
Lizzy, I don't know if my approach is better or not, it's just what works for me. I tried to "retire" (live off of FX trading) a while back ago and I just had way too much time on my hands.......there's only so much golf or beach that I can take ...
- Silver777 replied Jan 7, 2015
Hi Torrent, Yes, for me, having stops at break even meant a lot of stop outs, where the price could retrace 100s of pips back passed my entry, only to take off in the direction I predicted. Missing out on a big opportunity caused me more stress than ...
- Silver777 replied Jan 7, 2015
Yes, I've also been guilty about trying to squeeze more profit out of a trade than the market was willing to give and getting bitten in the rear! When I was trading shorter swings, the timing was always off, could've gotten in at a better price, ...
- Silver777 replied Jan 7, 2015
Lizzy, Thank you for describing how you manage a position. When I first started trading, my biggest fear was missing out on the big moves. Just like you say, using SLs kept me out of the really big moves, so I learned to trade without it.
- Silver777 replied Jan 7, 2015
No, when I say no stop loss, I mean no stop loss at all, not even at BE. Even if the price comes back past my entry point I will hang on until my target is hit. I never put on a trade unless I know the price will eventually move in my favour and I ...
- Silver777 replied Jan 7, 2015
Congratulations, predicting long term movements accurately is a huge advantage and will make you rich! I also trade long term and holding on to a winning position was the hardest thing I had to learn. This is what helped me: 1. cut ...
- Silver777 replied Jan 7, 2015
From my experience, I've found that FxFutures have several advantages over FxSpot (I won't repeat what others have already stated): 1. Shorting high interest currencies like AUD and NZD will not cost you anything for holding overnight positions 2. ...
- Silver777 replied Jan 7, 2015
Limprobable, I'm a bit late to the party but I would suggest to STOP focusing on the rules that you can't follow and start focusing more on the way you want to trade. Based on your post, you probably need a system that lets you always be in the ...