Discussion in 'Forex Trading' started by cashmoney69, May 1, 2007.
Long usd/chf @ 1.2175
stop @ 1.1871 (304 pips)
Your methodology will work on this market.
good luck! how much is a pip ?
for usd/chf .... with GFT, its .83 a pip, spread is 4. Thanks MF.
here is some advice from a person who just like you was doing stocks and futures and now FX
if you can't make money on others, FX WILL eat you alive over time
you need to FIRST decide if you want to be a day trader or swing trader
frankly cash, why wouldn't you pick day trading, it by far the most profitable.
so pick one you drunken bumble bee
pick only ONE pair or stock or futures instrument
and play with price breakouts with single chart
you only need a single chart to trade and make all the money you need.
throw away your indicators NOW, I am dead serious
I won't post anymore cause I am tired of you not listening
you gotta ask yourself, how long will I get beaten up until I start listening to what some people here are saying
do you think I am typing this for fun
this IS NOT fun for me
and this is last time I try to help
Ok but what is your target?
604 - 904 pips is my PT, but that is far fetched.
You must be joking!!!!!!!!!!!!!
If not, come to your senses
1) The monthly on this pair is trending DOWN
2) The weekly on this pair is trending DOWN
3) Target of 1.3079 will have to overcome the HIGH of 17 months ago.
4) WORSE!!!!! you should have why they call a DAILY SWAP CHARGE of about $ 1.04
if I'm correct (TRIPLE on Wednesdays).
check your broker's statement.
That little charge will add, and add, and add... specially if your pair losses ground.
I said $ 1.04 assuming that you bought a mini pair.
I mean to be constructive... awake! CASH.
USDCHF Monthly and Weekly charts
HAHA!! Why on earth would you go long at these levels?
This pair is on a downward path. This is actually a great place to go short in my opinion.
You will see it hit your stop loss before your profit target.
How much of your portfolio are you risking??
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