okay...here it goes...I've got 8 (yes, 8) open positions (some short and some long) currently in the following crosses: USD/CAD USD/CHF GBP/USD EUR/USD GBP/JPY EUR/JPY NZD/USD AUD/USD *will hold over the weekend *looking to expose key divergences (playing off the long/short combos) and bank profits this coming Sunday night or Monday morning...currently...I am down -40 pips or so...right now
I though you were shorting Aussie and Sterling, shouldn't you get like 100pips today? I short EURUSD since yesterday @ 1.5094, 250pips so far Good trading
Inka-dinka-dooster, You misunderstand my intentions. I am fixing to start my very own first thread here at ET and it will deidicated to unpikering myself. I was looking to you for advice. But that is ok, I understand that you may not have time for the likes of me. I am thinking a $200 starting line would be sufficient. I am in the process of hammering out my money management rules. I want to be able to keep levering up if my profits pile up like arctic snow, and I want to be able to last at least 30 days if my money melts like arctic snow dropped on Miami Beach. I think I have it figured out. Thank you for the inspiration. Get ready for my "High Energy rock n roll shoot em up Bang Bang as I go from Forex Piker to Prince (or Pauper) surviving at least 30 days with no more than a max 98% draw down thread." It's gonna be a swinging good place, cat.
Another question - I trade with a UK broker, so I can still swing 200:1 leverage. Inky, you say 100:1 is minimum to not be a piker, right? But here's my question: If 100:1 is good, wouldn't 200:1 be even better? So, should my "High Energy Forex Bang to Blow Up" thread be based on 100:1, or should I really bang it out full throttle at 200:1?
at 200:1, $200 can get a 4 standard lot trade that is $40 a pip. say you trade on EUR/USD that has a 1 pip spread, you are out of the game if you are 4 pips down. You could apply a 200:1 account, but if you are using any kind of money management system, you shouldn't need more than 50:1 leavage