Is this what trading is like?

Discussion in 'Trading' started by farmerjohn1324, Mar 23, 2021.

  1. Overnight

    Overnight

    Well, you have to admit...Being up $316 is much better than being down $2K!
     
    #31     Mar 23, 2021
    Nobert likes this.
  2. Nobert

    Nobert

    :D yeah. Sure.
    (Updated initial post)
     
    #32     Mar 23, 2021
  3. Ok. Well I hit both my TP's today and my Account is up 15% in two weeks.
     
    #33     Mar 23, 2021
    Nobert likes this.
  4. Hit both my TP's. Up $1532.
     
    #34     Mar 23, 2021
  5. Overnight

    Overnight

    That is much much better.
     
    #35     Mar 23, 2021
  6. You're wrong about the FA part. That's all I'm using. Everybody is expecting USD to rise this year, not just me. The only TA I'm using is looking at previous highs and lows.
     
    #36     Mar 23, 2021
    VPhantom and Nobert like this.
  7. notagain

    notagain

    EUR/USD if another down day, it's breaks to $1.16686
     
    #37     Mar 23, 2021
  8. JSOP

    JSOP

    Trading can get volatile but I would suggest you to have some stop-loss mechanisms in place to control losses instead of waiting until margin calls. Margin calls should be your absolute last resort and shouldn't be relied upon to control losses. You don't have to put in overt stop-loss orders in case if the broker hunt your stop-losses but just set a stop-loss level in your mind and have the discipline to take out the trade if the price closed above/below the stop-loss level.
     
    #38     Mar 24, 2021
    murray t turtle likes this.
  9. You trade a certain market because you have an strong understanding of it and strategy where you have an EDGE, Not because you find it most interesting. You are looking at this industry too much as a curiousity/hobby than a business....
     
    #39     Mar 24, 2021
  10. Ok. But I certainly can't close the entire position at a SL that's closer to the price than the margin call. Remember that my margin calls are not 100% of the trade. More like 4%.
     
    #40     Mar 24, 2021