I think you can safely remove the word maybe, but the fact you recognize this, is a step in the right direction. and so was this: "If this were real money, I would have lost 8.9% of the $100,000 I bet today. Roughly $8,900 gone just like that in a matter of 6 hours." define your boundary. BEFOREHAND. Allowing for a 9% swing in capital on one 'normal' day is entirely unacceptable. [/QUOTE]Which leads me to my first problem: I don't know what logical basis to place my trades on. Even if I think something makes sense, it may just be deluding myself. Should I be looking only at TA for this?.[/QUOTE] I've pondered for the past three years if I should express my personal opinions and experience related to TA in something I am working on. I decided after participating in a recent thread to avoid that can of worms. Therefore, I have nothing to say on the matter. Edit:first time I tried using the grey boxed quotes twice in the same post... obviously didn't work. Please advise.
Are you really a farmer or selected the name as it being cutsy? If a farmer, what is the acreage and what is grown?
I am not a farmer. It's a random name I made up over a decade ago. Although I would definitely buy a farm if I could make 40%! And if I could hire all labor.
I don't know where you bought GBPJPY, but if it was anywhere around 143.78 it looks like a solid decision to me. Whether or not it actually pans out is a whole other matter.
144.616 What makes it a solid decision? How can you trust your lines? Are they wrong as often as they're right?
First "QUOTE" box shouldn't have a / forward slash in front. Only on the end one. Edit it out in future, if it happens, and it will post correctly.
Makes me want to be able to edit it for him. Like an itch I cannot scratch, lol! Because I know exactly his intent. @Magna help that post up there!
8,9% in 6 hours? You are taking way to much risk if your goal is to hold your trades for a longer period of time.
That's all due to the leveraging of currency pairs. It would have been 8.9% of any amount I put there. I can't control the leveraging or volatility of Forex.
Right but what you can control, no matter the market, is what you risk. At least initially, and barring a gap or sudden move your ongoing risk.