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I wish I were wise enough to understand all this. But I am glad being Geppetto and lose myself in my words, stories and dreams! (You rock @mindhunter!)
I have been exceeding the 2% boundary per-trade, especially if I am "scalping" (if that is the right word for trades held for seconds to a few minutes) - Not that it had worked for me in the long-run though.
Scalping is dangerous territory indeed - I'd use less than 1% for that! A bigger account allows you to trade the longer charts like the 4H, daily, weekly etc. Profits are more predictable and made much more smoothly :)
I fully agree. Another thing, the MT4 (Meta Trader 4) is "killing" my trades because of the "sudden spikes" which occur within the "market". After some bit of research, I realised that MT4 is not the actual market, but is rather a "sandbox" of what is happening in the actual markets. I got the information from "Forex Trading Secrets Revealed" by "Mark Larsen"
This post has been ranked within the top 50 most undervalued posts in the second half of Apr 11. We estimate that this post is undervalued by $0.64 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Apr 11 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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I wish I were wise enough to understand all this. But I am glad being Geppetto and lose myself in my words, stories and dreams! (You rock @mindhunter!)
The 10,000 hour rule my friend :) I've been trading forex for nearly 15 years!
I have a question, should only 2% be risked, regardless of the size of the account?
2% MAX regardless of account size ... some aggressive traders go 5% but that is a heart attack on stick right there!!
I have been exceeding the 2% boundary per-trade, especially if I am "scalping" (if that is the right word for trades held for seconds to a few minutes) - Not that it had worked for me in the long-run though.
http://forextradingstrategies4u.com/category/scalping-strategies/
Thanks for the link @mindhunter , it's highly appreciated
I will always try my best to help you @stumacher - I hope you like my forex vid today that explores my forex past :)
https://steemit.com/forex/@mindhunter/mindhunter-discusses-his-forex-past-and-how-he-got-into-trading-the-forex-markets
Scalping is dangerous territory indeed - I'd use less than 1% for that! A bigger account allows you to trade the longer charts like the 4H, daily, weekly etc. Profits are more predictable and made much more smoothly :)
I fully agree. Another thing, the MT4 (Meta Trader 4) is "killing" my trades because of the "sudden spikes" which occur within the "market". After some bit of research, I realised that MT4 is not the actual market, but is rather a "sandbox" of what is happening in the actual markets. I got the information from "Forex Trading Secrets Revealed" by "Mark Larsen"
Correct @stumacher. I never use MT4 :(
P.S. For me, scalping is trading anything below the 1 hour chart - 30 mins / 15 mins / 5 mins etc.
P.S. Thanks to @sthumacher for the update idea :)
Thanks for actually doing it. You actually understand the philosophy of these markets. I've subscribed to your YouTube channel.
I know each pair like my own brother and sister! Tomorrow I'll do a post on my forex history and how I got into forex in the first place :)
P.S. Tomorrow I'll do a post on my forex history and how I got into forex over 15 years ago.