first fx trade

You have any clue what you are getting yourself into cash. Is your account leveraged because this trade might wipe out your equity.

 

I've heard of crazier in the FX market.... best of luck... I'll watch

 

I would not risk more than 100 Pips on this trade.
1.2035 - 1.2060 may find some support. (Daily)

swissie surdo

 

100% ... but its only a 250 dollar account so I could care less. On my stock trading account, I'd never do something so "dumb"?/ risky.

I'm using leverage, but I'm only risking what I have in cash, so if I do blow up, I wont owe them anything.

From what I understand from getting off the phone from the dealing desk, is this:

Because Im long, I subtract the "new long" from the yesterdays close, and multiply that by # of lots.

so here it is:

new long --> 1.214450

close --> 1.2145

difference --> .5

So it looks like I paid .50 cents in rollover on 5/1/07

 

btw, if you add moving averages to the daily, you'll see a crossover about to happen. Momentum is also on the rise.

 

$250 and a 300 pip stop, are you trading stocks with a three digit bankroll too.

 

This is a perfect example of the "If this trade works, I'm a genius, and if it fails I'm an idiot" syndrome.

 

You better not manage any account over a thousand because you clearly cannot read a chart and should probably stick to studying for your next test in college.

 

Funny you should say that. I've been managing a 15k plus size account for over a year now. And I dont care what the monthly chart says, I dont hold long enough to care about those time frames...and btw, if you look at the weekly, it's pointing upward.

A chart is historical data. dont forget that.

 

Where's your USDCHF now Cash? Are you sure you meant to say you went long?