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***FX-JEDI***
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Postby ***FX-JEDI*** » Mon Nov 09, 2009 11:28 pm

Thanks guys for all your comments & help I really appreciate that, this year I have come a long way trading, since finding this site, & thank all of you that contribute. its sad to see other sites, where TRO is posting his stuff & others are slandering him. I don't know where he gets the time to post everywhere?? I have a hard time keeping up with this site let alone others...
Yeah no squiggly lines on charts posted MO, & keeping it clean & simple, also looking at monthly & weekly more then I have been in the past. :wink:

Traderzone, to answer your question yes I do have stops on there but I turned them off, I don't want people to see my target levels & think oh hes going long to here so will I too, the market can change anytime especially if i'm going for a few hundred pips at a time, if price starts doing something i'm not happy about I could change my target level or get out, but not post it & if others follow first target they could get burnt & I would not want that. I do put where I think price is going but that is my opinion & others need to have theirs & take their own profit.. I'm no pro yet, I just don't want to post stuff that may influence other traders into a loss.. hope you understand...

It is a demo account shown, but I trade live as well simultaneously, tho not as high a $pip value, soon tho. :)

I always have stops, let me tell you a story of a good friend of mine, who I never met until we did a trading course together & he was 18 at the time. he could pick the market good.
anyway he opens up a live account after a month or so practicing with $20,000 AUD about $14,000US at the time. he found with he's live account he was getting stopped out a few times & then market would go off in his direction, sound familiar? so he started trading without stops & he made nearly $2500 in a week, then one nite whilst in a trade, & he was lying on his couch while the trade was running the US non farm payroll came out, now no one had told him about this fundy & how fast it can move the market, he was in a profit, but things happen very fast, price went against him by about 90+ or so pips & he had 10 regular lots on way over leveraged, so that's $9000 US down in less then a few minutes, you can imagine what he felt right now, pain lots of it..anyway he had enough composure to wait for a retrace & got out at -70 pips yep $7000 US he loss half his account in a few minutes...it was devastating for him. he just about quit. but over time slowly got back into it & managed to recover his losses after a few years.....

So don't trade without stops.....

ps... I am still long, need to open up a live account where I can still hedge to get some good red rat setups... :roll:
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***FX-JEDI***
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Postby ***FX-JEDI*** » Tue Nov 10, 2009 12:03 am

oops doubled up post, had 2 tabs opened & accidentally sent post again.
Its better to be out of the market wishing you were in,

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pablo101
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Postby pablo101 » Tue Nov 10, 2009 1:29 am

...
Last edited by pablo101 on Tue May 04, 2010 11:24 am, edited 1 time in total.

Brookmyre
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Postby Brookmyre » Tue Nov 10, 2009 2:12 am

Hey Pablo and FX-Jedi, big thanks for such clearly marked charts. It helps me a lot to understand, not just whats happening on the chart, but your reasoning behind what you're doing.

Nice work guys!!

Humble
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Postby Humble » Tue Nov 10, 2009 3:16 am

***FX-JEDI***, I guess you've taken your charts down on the previous page. (404 Not Found)

Either mt4 FX broker in Oz will let you hedge. (FXCM & Go Markets).
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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***FX-JEDI***
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Postby ***FX-JEDI*** » Tue Nov 10, 2009 3:47 am

sorry humble, my bad...
should be back now....
ok will look into a few brokers, am with one that uses dealbook360 & also with fxcm.

cheers
Its better to be out of the market wishing you were in,

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MightyOne
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Postby MightyOne » Tue Nov 10, 2009 5:20 am

Humble wrote:***FX-JEDI***, I guess you've taken your charts down on the previous page. (404 Not Found)

Either mt4 FX broker in Oz will let you hedge. (FXCM & Go Markets).


Why not trade a binary at IG MARKETS for an auto hedge?

Humble
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Postby Humble » Tue Nov 10, 2009 5:46 am

Hi MO, you up late!

Most of you wisdom is either new to me (I had no prior thoughts along those lines) or contradicts what I thought I had learnt previously (have to work out what prior thoughts are stopping me understanding your teachings). Given that learning is taking something you didn't know and adding it to what you already knew, I invariably find myself on the wrong end of a steep learning curve!

I have been copying your posts on binaries but they seem to have stopped prior to me getting up to speed.

Thanks for you previous reply in the MO's MBT thread.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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***FX-JEDI***
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Postby ***FX-JEDI*** » Tue Nov 10, 2009 10:39 am

MightyOne wrote:
Humble wrote:***FX-JEDI***, I guess you've taken your charts down on the previous page. (404 Not Found)

Either mt4 FX broker in Oz will let you hedge. (FXCM & Go Markets).


Why not trade a binary at IG MARKETS for an auto hedge?


I would have to look into that MO, right now I absolutely know nothing about trading binaries, except a brief scan over your posts. I will research this early next year after I move...

I took profit at 1.6700 200pips hmm yeah I threw away 100 pips but I knew that was a possablity. just seeing what gbp was doing..

anyway long again now, this is probably my best ever entry, I just happened to walk by my computer & check what market was doing before going to bed, I got in about 10 secs left on 5 min chart no drawdown except for 4 pip spread. 20 pips in 5 min. :shock: check the time between screen shots there all time stamped... 24sec later up 10 pips... :D
I showed my stop this time.
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Its better to be out of the market wishing you were in,

then being in the market wishing you were out.....

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IN-XS
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Postby IN-XS » Tue Nov 10, 2009 1:07 pm

Anybody else get in on this today? I am also in on GBPUSD & EURUSD both short, good movements today in the markets.

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