Forex from scratch --a helping hand from pipshower...

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TFL

Well-Known Member
Ok .
I will put it in example.

My account is say $10000
I want to trade EUR/USD
Min position size to open with my broker is say 0.01 lot which is equal to $100 of my acct . And where 1 pip equals $1. So $100 is 1% of my acct which is what i want to risk .

I enter a trade say Short at 1.3700
TP :1.3350 SL: 1.3800

So lets say it hits my SL so i am down -$100 i.e. lost 1% of my acct.
So i lose 9 trades in a row due to whatesoever be reason. I loose 10% of my account.

Now on same broker i am trading with $1000. I loose 9times . Where i stand?

Thats what i wanted to explain.
We all meant the same...Your language have an additional letter leverage mine don't...that was the difference.

Thanks pipshower and waiting for more lessons.
 
Well Saint Sir is a very popular teacher at traderji...hats off to him!
Thats great .
I would like to check out his threads .Its always good to learn from the senior respected members who have been successful and guiding everyone to the path of success.
It would be very thankful if you could put url to his threads or posts .

Thank you
Regards
Pipshower
 

ag_fx

Well-Known Member
This is my current trade based exclusively on daily and weekly analysis.

Here is the screenshot


Now i will move my stop loss to breakeven or to price i feel will hold the key.
The trade was triggered while i was in sleep .So it gives me freedom to do whatever in the free time.

Regards
Pipshower
So what was da basis behind this entry?


And you can read the best thread by SAINT in the technical analysis forum. The thread is called "Teach a Man how to fish". There are several other live threads too.
 
This is my current trade based exclusively on daily and weekly analysis.

Here is the screenshot


Now i will move my stop loss to breakeven or to price i feel will hold the key.
The trade was triggered while i was in sleep .So it gives me freedom to do whatever in the free time.

Regards
Pipshower

What was the final out come of the trade?? Did you let it hit your new SL or you closed it inbetween?
And Why?
 
Re: Trading plan...

pipshower

waiting for your trading strategy

shekhar
Here we start!
I am going to start with live charts and trades.

Here is first chart...



This is weekly EUR/JPY CHART
This is one of the best set ups i would want to see on my charts .
This is weekly pin with long nose formed of a strong price pivot zone .
This is traded at the break of pin with next target being 126 .
I will go in more details about this set up in next post .
 
THANK YOU PIPSHOWER for doing wonderful job here.I went all through your thread in ONE DAY and was very much impressed.I am also trading forex for some time now and was interested in somebody who was from INDIA.I am excited to know about ur starategy and wish to know pivots you use u calculate on daily time frame or weekely?Also what Ankit is doing is also scalping for say 4-5pips with high leverage and achiving same results as u do with strict rule of money management(risking not more than1-4% of account on any trade).My question although being hypothetical isn't it better to develop a scalping system with the most high probabllity trading set ups and trading than usual system whereby although u risk less u need to wait for days together for trade to complete and soemtimes bear some loss too.Also One more thing methodology based on technical analysis gives u freedom of trading vast number of pairs with set-ups ,so shouldn't be technical analysiis(indicators and other tools) be employed for trading.AT the end of day How much profit u earn matters isn't it?Please give ur views.
 
THANK YOU PIPSHOWER for doing wonderful job here.I went all through your thread in ONE DAY and was very much impressed.I am also trading forex for some time now and was interested in somebody who was from INDIA.I am excited to know about ur starategy and wish to know pivots you use u calculate on daily time frame or weekely?Also what Ankit is doing is also scalping for say 4-5pips with high leverage and achiving same results as u do with strict rule of money management(risking not more than1-4% of account on any trade).My question although being hypothetical isn't it better to develop a scalping system with the most high probabllity trading set ups and trading than usual system whereby although u risk less u need to wait for days together for trade to complete and soemtimes bear some loss too.Also One more thing methodology based on technical analysis gives u freedom of trading vast number of pairs with set-ups ,so shouldn't be technical analysiis(indicators and other tools) be employed for trading.AT the end of day How much profit u earn matters isn't it?Please give ur views.
Hello Ashish ,
welcome to this thread .
The reason i trade forex is because i need to make money without sitting in front of the screen watching charts for hours and letting the small moves of pips make my heart beats to raise ...

This is what i call financial freedom . I spend time with my freinds , relatives and family while the trade either hits target or stop loss. No psychological involvement --This keeps me away from the stress that is cause of early death now a days specially in STRESS ORIENTED INDIAN standard of living.
My definition of financial freedom and success differs entirely .

And about comparing between scalping and my strategy .
My strategy helps me trade many things at a time in forex unlike scalping where you would concentrate on so small a timeframe for measly small pips on a single pair.My strategy allows me to take positions and best set ups on any number of pairs and charts . Rather i scan nearly 40+ charts pairs each day so basically i never lack from a set up . Scalping increases loosing risk and my method for last few years havent had a single month in a loss .
You must know when we make more than 20% returns we are beating the best fund managers out there who fail to do that {Check the result of 2008 fund managers on google for proof.}
My pivot zones are not any calculations . They are drawn at the points the chart shows me in the past or history. The round number adds more importance to it.
INDICATORS SHOW US PAST AND PRICE ACTION SHOWS US FUTURE .SO I KEEP MY CHARTS CLEAN WITHOUT ANY INDICATORS ON IT EXCEPT MY EYES!

This is entirely my view as i see it . You may see it differently !
But its making cash for me so i believe in my view!
 
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