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- Ajm replied Aug 31, 2011
We are trading probabilities. We ask ourselves, “given this set of circumstances and this amount of information, what is the price going to do?” We place trades on the expectation of it going where we think (perhaps hope is a better term), this is ...
- Ajm replied Aug 30, 2011
I think I need to clarify on that quote. If a system says that if this fast MA crosses that slow MA in an upwards direction, buy. If it crosses downwards, sell. What a lot of them don't say, is that this is just an indication that a "possible" trade ...
- Ajm replied Aug 30, 2011
I limit myself, greed is not good for the bottom line. — The stop loss is there to simply control any losses. I control my entry by deciding at what price I am prepared to place a trade. I have a criteria for deciding on where that should be, ...
- Ajm replied Aug 29, 2011
My job is to protect my account — I'd have to disagree with both Dopey and ekiden on this. A trader's first priority is to protect the money in his account. If you have to determine ratio or profit or stop lose after the fact, you are not in ...
- Ajm replied Aug 29, 2011
Bank Holiday and things are quiet so... — Lynnsmom asked how on a 10-20K she can trade to make 2K a month. Risk is to be 1-2%. Target is 200 pips a month. Let's use lower trading account figure of 10K and a risk of 2%. So 2% of 10K = $200. We ...
- Ajm replied Aug 28, 2011
Start at the beginning — Yes, you can make a living out of the Forex market, but and it’s a big BUT, it’s not just a case of having starting capital and a system. The successful ones are those that start at the beginning as “an apprentice” ...
- Ajm replied Aug 28, 2011
My answer to chuck's questions — To answer each of chicky's questions in turn, from my own perspective. 1. What should be ratio between SL and TP and why? (Logic of whatever is recommended). I read this as really saying "What should be the ...
- Ajm replied Aug 28, 2011
I always enter trades with a set number of pips (ROI) profit target and use a hard stoploss to give a minimum R/R of 1:1.5. These trades are the ones where I have an expectation of reaching my target. If I have doubts, I do not take the trade. ...
- Ajm replied Aug 28, 2011
I would agree. I have been lurking in FF for months reading up on posts and have come across a lot of posts which describe indicators as useless, as they just show history. Yet they fail to realise that every thing on the chart is an indicator. Be ...
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