Never Lose Again

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BlowFish
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Postby BlowFish » Tue Nov 18, 2008 11:55 am

["TheRumpledOne"]Just because I do it (sometimes) doesn't mean I like it.

Hmm that remind me I need to visit the dentist. Scared_Smile

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Mo
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Postby Mo » Wed Nov 19, 2008 2:23 am

Hello,

First many THANKS to Avery and the other trades for their help and time :)

I thought I share my first day trading with real $$$ . Have to be honest, I got lucky with a few trades, some were easy and others hard.... I didn't follow the risk-reward ratio, since one trade I was risking all my profits for the day. As TRO said be quick and take what you can, well first few I did (gave up pips) then I didn't and gave up profits or sat in a loss waiting for a turn, the last few trades took it as fast as I could :)

Tomorrow I will cut back on my lot size, unless I feel comfortable and take it easy.

I use market orders, not sue if it good or bad? On my statement they are charging me $6.10 (net margin req) ???

Happy trading :)

Mo

Closed Transactions:
Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit

4418009 2008.11.18 16:00 sell 1.00 usdjpy 97.34 0.00 0.00 2008.11.18 16:01 97.31 0.00 0.00 0.00 30.83
4418316 2008.11.18 16:15 buy 1.00 eurusd 1.2646 0.0000 0.0000 2008.11.18 16:18 1.2651 0.00 0.00 0.00 50.00
4419760 2008.11.18 17:33 buy 1.00 eurusd 1.2663 0.0000 0.0000 2008.11.18 17:45 1.2660 0.00 0.00 0.00 -30.00
4419865 2008.11.18 17:39 buy 0.05 eurusd 1.2659 0.0000 0.0000 2008.11.18 17:46 1.2662 0.00 0.00 0.00 1.50
4420049 2008.11.18 17:51 sell 1.00 usdjpy 96.91 0.00 0.00 2008.11.18 18:04 96.84 0.00 0.00 0.00 72.28
4421110 2008.11.18 18:36 sell 1.00 usdjpy 96.72 0.00 0.00 2008.11.18 18:47 96.58 0.00 0.00 0.00 144.96
4421762 2008.11.18 19:05 sell 1.00 eurusd 1.2586 0.0000 0.0000 2008.11.18 19:47 1.2569 0.00 0.00 0.00 170.00
4423008 2008.11.18 20:22 buy 1.00 eurusd 1.2595 0.0000 0.0000 2008.11.18 20:23 1.2602 0.00 0.00 0.00 70.00
4423295 2008.11.18 20:40 buy 1.00 eurusd 1.2612 0.0000 0.0000 2008.11.18 20:41 1.2622 0.00 0.00 0.00 100.00
0.00 0.00 0.00 609.57
Closed P/L: 609.57

pierre23
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Postby pierre23 » Wed Nov 19, 2008 3:03 am

Congrats mate, well done! $609 not bad for 4 hours work =]

I see you have a standard account - can I ask how much your starting balance was?

I didn't follow the risk-reward ratio, since one trade I was risking all my profits for the day


I suggest you ALWAYS follow your money management rules, don't forget, you might think "oh I should be alright to risk a little more here" or be over confident on a trade, BUT don't forget, this is forex after all, your trade could turn against you at any moment and that could lead to massive losses.

Are you using MB Trading as your broker? From what I recall they charge something like $6.00 commission for a round trip on a standard lot.

Well done again. Hope you keep it up =]

Mo
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Postby Mo » Wed Nov 19, 2008 3:19 am

Hi Pierre23,

Thanks, I hope I keep it up to...lol... but I need to step back and cut my lot for a while.... am using ODL Securities, I didnt know metatrader can be used with other brokers. There is alot of things I dont know...lol

Started with $2,500

pierre23
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Postby pierre23 » Wed Nov 19, 2008 3:33 am

MT4 can be used with a few other brokers, MB Trading isn't one of them though.. although I've heard they might implement it in the future.. but yeah MetaTrader can be used with a few others.

What strategy do you find working for yourself when you trade?

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pierre23
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Postby pierre23 » Wed Nov 19, 2008 3:53 am

TRO, if you go here: http://fxclub.com/expressfx/

How is it possible they offer 0 spread? Does it seem like a dodgey broker, as they don't have much info on their site regarding the currencies you can trade and at what spreads? They just have 0 spread and $0.60 commission ONLY only winning trades (if you have a non-profitable trade they refund the commission)

Mo
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Postby Mo » Wed Nov 19, 2008 4:10 am

Price action!!! i jump around, here is the 2 charts plus am checking out the others... I like the trade off the SR-RR with the tro_3 and buyzone. If you want more I can write tomorow since it getting late and trading too.
Attachments
pic1.jpg
pic1.jpg (242.02 KiB) Viewed 1614 times

Mo
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Postby Mo » Wed Nov 19, 2008 4:11 am

one more
Attachments
tro wipeout-2.gif
tro wipeout-2.gif (49.08 KiB) Viewed 1613 times

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dragon33
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Postby dragon33 » Wed Nov 19, 2008 7:20 am

pierre23 wrote:Congrats mate, well done! $609 not bad for 4 hours work =]

I see you have a standard account - can I ask how much your starting balance was?

I didn't follow the risk-reward ratio, since one trade I was risking all my profits for the day


I suggest you ALWAYS follow your money management rules, don't forget, you might think "oh I should be alright to risk a little more here" or be over confident on a trade, BUT don't forget, this is forex after all, your trade could turn against you at any moment and that could lead to massive losses.

Are you using MB Trading as your broker? From what I recall they charge something like $6.00 commission for a round trip on a standard lot.

Well done again. Hope you keep it up =]


MB trading is $5 on each site (in & out) for a standard lot. For a mini its $0.5.

BlowFish
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Postby BlowFish » Wed Nov 19, 2008 10:50 am

You can trade less than 10,000 (a lot) units of a currency with MBT? I wonder how that works I thought the banks that are counter party to your trade have minimum size requirements?

They make no mention of mini's here http://www.mbtrading.com/fx/commissions.asp

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