my forex trades...!

[sriharishine]

I suggest you start trading longer time frames with a no more than 2 percentage risk/trade.stop thinking how much pips you can make in a day. if you can finish the next month break even, that would be an achievement.

the shorter the time frame you trade, the smarter you should be to survive! I dont think you are that smart! Or Are You??

yes I can do trade on longer timeframe.

And the Signals provided by the alpari is enough right?

How to set the stop loss? I mean what is the rule that I should follow to set the SL in case of this $200 investment.

 

[linkon7]

Right but have you ever thought about trading currency futures, usd/inr, on nse?

USD-INR pair or any pair with INR is not very liquid as it is very tightly controlled by RBI...

I trade just nifty and nifty options on nse and silver on mcx... now my eye is on the bigger fish... FX...

 

[linkon7]

yes I can do trade on longer timeframe.

And the Signals provided by the alpari is enough right?

How to set the stop loss? I mean what is the rule that I should follow to set the SL in case of this $200 investment.

If you plan to go for higher time frame... then you have to go for wider stoploss... Every time we enter a trade... no matter how goods the system is,.... we never know if its going to hit the stoploss... How many bad trades can you afford to suffer....

Lets look at it this way... you are entering forex with just 200 pip with a 0.1 lot... if the spreads are roughly 5 pips wide... that doesnt give u much room for errors...you can suffer a max of 4-5 bad trades and you are out of the market...

My view is... you are entering a dark cave with just a flash light... make sure you have knowledge, experience and mindset before you enter.

 

[smartboy1jan1982]

USD-INR pair or any pair with INR is not very liquid as it is very tightly controlled by RBI...

I trade just nifty and nifty options on nse and silver on mcx... now my eye is on the bigger fish... FX...

I do understand what you meant to say but daily volumes of both current month nifty futures and usd/inr futures are similar on NSE, which is around 10,000 crores.

 

[linkon7]

I do understand what you meant to say but daily volumes of both current month nifty futures and usd/inr futures are similar on NSE, which is around 10,000 crores.

10,000 cr confused

besides the issue is volatility more than volumes...

NIfty offers us options which are a good way to play nifty and create positions that takes advantage of the lack of movement...

 

[linkon7]

today's first trade...
Short on EUR-USD pair... @ 1.3032 tgt 1.3019 st 1.3045

 

[smartboy1jan1982]

10,000 cr confused

besides the issue is volatility more than volumes...

NIfty offers us options which are a good way to play nifty and create positions that takes advantage of the lack of movement...

10 thousand crores is the total value of all contracts traded at nse daily, of usd/inr futures which is similar to the toatal value of all contracts traded at nse daily, of nifty futures.

Yes, daily volatility in usd/inr futures is lesser than nifty futures but you have to keep in mind that margin required to trade usd/inr is also less than nifty futures.

Also currency options are to be introduced at nse very soon. (rumour is that it will be implemented within 1 or 2 months from now)

 

[linkon7]

looks like a bored trade... this has a higher chance of hitting sl...

 

[yasirdxb]

yes I can do trade on longer timeframe.

And the Signals provided by the alpari is enough right?

How to set the stop loss? I mean what is the rule that I should follow to set the SL in case of this $200 investment.

I know nothing about alpari signals. whatever.. your risk parameters are more or equally imporatant than the signals. be a deciplined trader from the beginning. imagine you are trading with $200k not a mere $200.

your risk management should be the same regardless of the size of your account. the rule remain the same. ie. 2% risk/trade. be it $200 or $200k. And do not take risk in more than 2 trades at a time. that means if you have 2 trades open at a time, you should colse or move the SL to breakeven before taking a new trade.

BTW do you have any risk management rules or at least any ideas to limit the risk. post it. may be I can help you.

 

[linkon7]

shifted to higher tf after gaining sufficient buffer.... to bear minor losses...
so far 2 trades hit sl... of roughly 20-21 pips each...

lets hope this one recovers it all....