[Simple Trading System] Trendline Break (The Only System You Need)

[desifxtrader]

Re: Swing Calls by desifxtrader

What about crude, is it also set for a correction

No idea. I'm sorry, as I don't have access to Crude charts, I'm unable to make any comments.

 

[desifxtrader]

Gold: Apr 15, '10

Hi,

I think Bulls are getting weaker in this precious metal. Expecting a good breakout/down in Gold.

happy trading :clap:

 

[desifxtrader]

Re: Couple of thoughts on Gold ...

I am expecting a major explosion in Gold. Big time over this month.

Gold Daily:

happy trading

Hello friends,

I hope Gold did perform well since Mar 25th. The run was good:

April is almost over. Lets see how gold performs in the upcoming month. (Thou, we might see some good action the the last week)

Happy trading

 

[desifxtrader]

Suicide of a Forex Trader from India

Hello friends,

The title looks scary, isn't it?? But it's the REAL fact! Trust me.

Most newbie in Forex trading underestimate the potentially devastating damage leverage can wreak on their accounts. Understanding leverage enough to know when to use it and when NOT to use it is critical to your success!

Leverage is a very powerful tool but both old and new traders use it to DESTROY their trading capital simply because they take too lightly its destructive force or ignore it altogether. Its a pity, but the more of them the easier it is for us smart traders to make money. Sad but true.

High leverage is a favorite selling point for most forex brokers. Yes they pitch that you can make a huge killing using huge leverage, but the truth is Far You get KILLED!!

Brokers want you to trade with a very short-term mindset. They want you to trade as frequently as possible as often as possible. Its the only way they make money. One or two pips are important to them. The more you trade the more they make $$ on the spread. Its not in their best interest to tell you to let your trades run longer than the same day.

If you want to give yourself the best chance to succeed, first learn to trade profitably without leverage.

[Read the sentence above thrice]​

Play it safe. Protect your capital.

{Remember what Buffetji said?? Rule #1: Dont Loose Money Rule #2: Never forget Rule#1}

When you can make more pips more than you lose consistently, then, and only then, should you use unleash this weapon of mass destruction called leverage. Destroy traders (or your broker) taking the opposite side of your trade. Dont destroy yourself.

Forex trading should be treated as a job or business. Dont think that just because brokers allow you to use high leverage with a low minimum deposit that you can make a quick <insert choice of currency here> or get rich quick. Approach the currency markets with respect.

Be realistic in your expectations and be willing to properly educate yourself. Coz If you dont, you will get KILLED.

Okay, not really, but your account will get KILLED 100% Guaranteed.

Most professional traders and money managers trade one standard lot for every $50,000 in their account. If they traded a mini account, this means they trade one mini lot for every $5,000 in their account.

Let that sink into your head for a couple of minutes.

[Read the sentence above thrice]​

If professionals trade like this, why do less experienced traders (newbies) think they can succeed by trading 100K standard lots with a $2,000 account or 10,000 mini lots with $250?

No matter what the forex brokers tell you, DON'T ever open a STANDARD account with just $2,000 or a MINI account with $250. The number one reason new traders fail is not because they suck, but because they are undercapitalized from the start and dont understand how leverage really works.

Dont set yourself up to FAIL.

Its highly recommend that you have at least have $100,000 of trading capital before opening a standard account, $10,000 for a mini account, or $1,000 for a micro account.

So if you only have $60,000, open a mini account. If you only have $8,000, open a micro account. If you only have $250, open a demo account and stick with it until you come up with the additional $750, then open a micro account.

If you dont remember anything else in above paragraphs, I plead that you at least remember what you just read above.

Okay, please re-read the previous paragraph and ingrain it in your memory.

Just because brokers allow you to open an account with only $250 doesnt mean you should and Im going to explain why.

I believe most new traders who open a forex trading account with the bare minimum deposit do so because they dont completely understand what the terms leverage and margin really are and how it affects their trading.
Its crucial that youre fully aware and free of ignorance of the significance of trading with leverage. If you dont have rock solid understanding of leverage and margin, I guarantee that you will blow your trading account.

Happy trading :clapping:

courtesy: Babypips​

 

[ag_fx]

Re: Suicide of an upcoming Forex Trader from India

I believe the source of this article DESERVES a mention:

http://www.babypips.com/school/dont_underestimate_leverage.html

 

[desifxtrader]

Re: Suicide of an upcoming Forex Trader from India

I believe the source of this article DESERVES a mention:

http://www.babypips.com/school/dont_underestimate_leverage.html

Credits to you Ankit, you didn't gimme time to put in my final touches.

I hope you won't mind if I ask you couple of questions??

Had you worked with Bansal Sharevest Services?

Have you ever setup a IndiaInfoline office in Bangalore?

I just have a hunch that I've heard name similar to that of yours before hence I'm asking.

Thanks

 

[preetksgill]

Re: Suicide of a Forex Trader from India

While travelling in a local bus a few years back, I had to reach my examination centre about 40 Km away

Suddenly, I started shouting, stop the bus I wish to do suicide, stop the bus I wish to do suicide,

the driver and everyone on the bus were shocked, and tried to console me in every manner

finally the bus driver gave in and stopped the bus

i went out and did susu side main

when i went back everyone was laughing like mad,.

 

[ag_fx]

Re: Suicide of an upcoming Forex Trader from India

Credits to you Ankit, you didn't gimme time to put in my final touches.

I hope you won't mind if I ask you couple of questions??

Had you worked with Bansal Sharevest Services?

Have you ever setup a IndiaInfoline office in Bangalore?

I just have a hunch that I've heard name similar to that of yours before hence I'm asking.

Thanks

Credits to WWW .....not me

Sure u can ask as many questions as you want....As long as they are civil and answerable..

What is Bansal Sharevest Services? Never heard of it.

I have never visited Banglore...Never did any sort of business with Indiainfoline...

I guess my name is pretty general and common..

 

[ag_fx]

Re: Suicide of a Forex Trader from India

While travelling in a local bus a few years back, I had to reach my examination centre about 40 Km away

Suddenly, I started shouting, stop the bus I wish to do suicide, stop the bus I wish to do suicide,

the driver and everyone on the bus were shocked, and tried to console me in every manner

finally the bus driver gave in and stopped the bus

i went out and did susu side main

when i went back everyone was laughing like mad,.

:rofl::rofl: :lol:

 

[desifxtrader]

Re: Suicide of a Forex Trader from India

While travelling in a local bus a few years back, I had to reach my examination centre about 40 Km away

Suddenly, I started shouting, stop the bus I wish to do suicide, stop the bus I wish to do suicide,

the driver and everyone on the bus were shocked, and tried to console me in every manner

finally the bus driver gave in and stopped the bus

i went out and did susu side main

when i went back everyone was laughing like mad,.

Ohhh, I do remember. Was that YOU?? I was in the same bus and I was carrying my camera:

cheers