My honest history chart of trading on Forex - page 8
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umm...May be Jack as my English is worst ......
Suppose I have a $400 deposit.....It is not so big............I shall trade only $1000 then my leverage is 2.5 times.......Clear??? huh!!! Now suppose I lost 100 pips on my first trade and I am $10 dollar loss in my trade .......Right????Then I lost about $10/$400=2.5% per trade........This is MM and you can use it any deposit............All depends on MM(money management) nothing in deposit......And I think you know it the bigger SL the bigger reward .......You can even trade day chart with your $400 deposit and then if your SL is 300 pips then you have to use $300 per trade and you are not trading with leverage and when your loss is 300 pips you are losing 9 dollar and your risk is 2.25% per trade...........
And about trend line jack.............Just I give you an example of UJ latest trade...........And of course 4H chart..........
Here in the example of my reducing risk.....Just at first in your system I got the buy signal and I wait for reducing the cost(like stock market)....I know this is bigger trend so pair is not going to fall from my buy place as our MA are not so week and if falls then my loss will be less when I opened at higher rather than it.....And I try them in the lower line of the pair for long and higher line for short .......and my exit is shown in the picture also.........It is not possible to buy or sell exact the trend line but I try after BB crossed and a positive candle and thus I miss also some pips but I also in this way lessen my risk................I think I could understand my ways............
The summary for the trend line is I use them after getting buy signal in my MA crossing otherwise not...............So trend line is just a helper for me but I use it for exit exactly as I did not got any better exit strategy rather than trend line............
Thanx Jack.................Cheers mate.
Now, I am still not sure if I understand you correctly.
But correct me if I am wrong.
Regarging deposit size and TF my understanding is that for you it does not matter what the TF is, what matters is that the risk/reward ratio is good and you stoploss meets the 2-3% rule. Am I right? If so, I would disagree, because my SL (or equivalent) depend very much on the chart, and if on 1hr my SL would be 60 pips, on the 4 hr it well might be 160 just because the logic of the chart. That is why a bigger deposit is needed. I do not see how you can get around it with just MM. MM is not a Magical Make Money, it is just a statistical probability based on the past with no relation to the future.
The thing about trendlines... So you only use them for stops? Understood, but the question remains - how from hundreds of possible lines on the chart you choose which one is important? How do you draw them?
Sorry, it is very stupid of me that I do not understand.
But I tell you a story for fun. Once I was asked to translate a meeting between a Japanese guy and a Russian guy on a state level (quite important guys both from Government). So. the Russian guy could not speak any lingo except Russian. I could speak English, (a little bit of German and French). The Japanese translator could only speak Japanese and some English (terribly).... The important Japanese guy only spoke Japanese... I will never forget this. So the Japanese guy says something (for example, "I am very happy that this meeting is taking place"). The Japanese guy says to me: This man is happy. I say to the important Russian guy: the Japanese guy is feeling good here. The Russian guy says: We have always envied the long life of Japanese people... The Japanese translator says to the big Japanese guy: The Russian guys is envious to you because you are very old...... Exaggeration, yes, but, it was fun.... But in the end we all got drunk, and spoke fluently all languages in existence, and even those that are not
just see how accurate the patterns and trend lines are......
Well, I know they are accurate... but only after they happen. In the attached picture, is it a trendline starting?
Jack,
we can trade a part of our deposit...............We shall use smaller portion of the money as we have greater reward and greater risk in higher time frame and for me that is not a obstacle to trade smaller fund with higher time frame.......
And about the trend lines among so many lines ................
Actually trend lines: why work ???????That's a big question.....And I don't know the answer........Suppose a pair is making lower highs and that is a marking of new downtrend channel and the bigger the TF the accurate the observation...
I again saying a pair is making LH and we shall mark the lowest point of the two lower highs and that's the first point of the downtrend channel and the other point is the second highs...........and we wait for the MA crossing or another way of trading.......Lets make a real picture of EURGBP latest .....
At this moment EUROGBP at its downtrend and its day chart is gonna give hard short signal with weekly chart also..........So if I could buy it now my risk will be little bit lessened if I could not make entry at the starting of its downtrend............
I think I could not understand you also this time.............Is it right???????
Well, I know they are accurate... but only after they happen. In the attached picture, is it a trendline starting?
Yes that's the big problem jack ......after happening, pattern and trend line becomes more clear to us and for this reason we use another thing with it and for me the best is MA crossing.......we can use lower TF crossing at those place to be sure that those are the points where we shall long or short.........And you see I don't trade only trend line as they are confusing and I just use them to lessen the SL of my trade and I think you could get the idea why I use trend line.......
And I totally depend on trend line to exit as exit the the reversal crossing of MAs just kills my most pips and I don't like it ...............
cheers Jack.........
I think I could not understand you also this time.............Is it right???????
yeah, right... you know, I am a bit too slow for that kind of analysis. It is all clear on history, but somehow, when I started to trade live what I thought were trendlines, it turned into a nightmare. Yes, in your picture the EG is very likely to go down.
I'd say as likely as 50%
You still never say how you determine a trendline. You show me those that have formed.... I can do that too!
Yes that's the big problem jack ......after happening, pattern and trend line becomes more clear to us and for this reason we use another thing with it and for me the best is MA crossing.......we can use lower TF crossing at those place to be sure that those are the points where we shall long or short.........And you see I don't trade only trend line as they are confusing and I just use them to lessen the SL of my trade and I think you could get the idea why I use trend line.......
And I totally depend on trend line to exit as exit the the reversal crossing of MAs just kills my most pips and I don't like it ...............
cheers Jack.........Now I see. So you just use trendlines for making the big picture clearer... Makes sense. I will not do it, but it does make sense now.
You still never say how you determine a trendline. You show me those that have formed.... I can do that too!
haha............I am now confused .............I did let you know how to determine the trend line and trend line is determined based on historical three points Jack and the fourth is the possible entry or exit ..................
Your and my language is the difference may be...........
haha............I am now confused .............I did let you know how to determine the trend line and trend line is determined based on historical three points Jack and the fourth is the possible entry or exit .................. Your and my language is the difference may be...........
Yep, I undestand now. So you wait for the channel to form, only then take it into account. It is allright, I used this approach but now I am totally ignoring it. Why? Because there is 50% chance that the price will respect the channel. And a 50% chance that it will never notice it.
Contre-trent is not what I do. Again, it looks nice on history, but it is very nasty when you trade on expectations of an imaginable trendline.
So we have different approaches. Let's agree. To differ.
Yep, I undestand now. So you wait for the channel to form, only then take it into account. It is allright, I used this approach but now I am totally ignoring it. Why? Because there is 50% chance that the price will respect the channel. And a 50% chance that it will never notice it.
Cheers mate............
Thanx and regards to you..............
Cheers mate............
Thanx and regards to you..............I was sure you had something more under the sleeve
Well, allright, it is seven in the morning at my place and I still have some beers and barbeques to finish before I go to bed.
All the good luck to you and many many pippies in your pocket!
Cheers mate for now