And doesn't matter whether 1 pip =100$ or 1 pip = 1$ or 1 pip = 1 penny.
Not attempting to break any record here, but I guess I drop about -50k pips.
Funny I obtained profitable got profitable when matters got ready.
And doesn't matter whether 1 pip =100$ or 1 pip = 1$ or 1 pip = 1 penny.
Not attempting to break any record here, but I guess I drop about -50k pips.
Funny I obtained profitable got profitable when matters got ready.
How exactly does that work? Unless of course, the price starts to retrace out of the TP in which case, the loss would be an assumed loss and not an actual one. .Originally Posted by ;
Originally Posted by ;
Hi Liviu,
my answer may seem somewhat 'off topic', but the key to turning into a great (profitable) trader lies in knowing
what trading is all about. I would rather create an analogy with all the physicians profession: without comprehending the inherent
trigger(s) for symptoms, and you'll just find yourself in a sinking ship, shuffling water out of it without attempting to correct the holes...
Thus, you can keep fighting with the forex market (examine the technical/fundamental aspects of it to which brokers as well as the bigger
players, who basically have control of this market, thank you very much) or gain a comprehension of it (why does price move
how it goes?) . When you arrive at the point at which you are treating the cause instead of only the symptoms anymore, then
that which becomes more easy and you'll wonder how you might have missed what's going on.
One of the chief things that I discovered the hard way is the old adagio: 'cut your losses and let your winners run' (which basically boils
down to: 'don't fight the market, but move with it - don't attempt to prove you are correct, just try to not be overly incorrect :--RRB-
If that comment looks useless (or pointless), just delete or ignore it...
Cheers and good luck to you!
Well you have to convert the USD into pips . and that PROCESS ISNOT VERY SWEETOriginally Posted by ;
Hello, thanks for replies. Things are consistently great for at least one year now.
Money management is the key for me, much more than just technical or fundamental analysis (they operate, but sometimes they do not).
An excessive amount of time spend with all the charts and also little time spend on money management was that the sinking hole for me personally (this included bad time management also).
Regards !
About Five K or round about that..it is hard to keep count, everything starts to blur in the beginning when you're a newbie. .
Ronald 123, this is the point that speaks the most to me. Thank you for it. I am a complete newbie to FOREX and only collecting the info for my entry for this market (fundamentals, boreker selection, appliions...). I have some adventures in the commodity markets of ferro-alloys, foundation and noble metals (real trades), but in FX I shall require some support, and seems like here in these forums one can find very nice and pragmatic answers with patience for newbies. Dont fight the market. . .or do, if you're a billionare was my mindset when trading above mentioned.Originally Posted by ;
Fly safe!
My estimate is that I lost several thousand pips before becoming a profitable trader. Can't nail. of thousands.