8 replies to this topic

[Andry]

Daily Target

If we wanted to get consistent profits, we must have target right?

There are short-term and long-term target.

I wanted to know your target daily guys.

So how many pips each day in your target?

Why did you use that much as your target?

[Andry]

How To Limit Loss

In trading, we must limit our losses so we won't get big loss in a transaction or get Margin Call.

So what is your strategy to limit your losses in each transaction?

Share it here guys...

[Andry]

Psychology Of Trading

The other things that we must pay attention in forex besides our knowledges and experiences is our psychology.

How did we control our psychology in forex?

Can we avoid greedy and fear in forex trading?

[amcfx]

If we wanted to get consistent profits, we must have target right? There are short-term and long-term target. I wanted to know your target daily guys. So how many pips each day in your target? Why did you use that much as your target?

I target 100 pips per day in EU because EU moves 100 pips by average. Sometime's my TP is not hit because I get stopped out by trailing stop.

[amcfx]

Easy question. Put STOP-LOSS. This preserves your account for us to continue trading another day.

Know by heart that every time you place an order never forget it.

[Andry]

@amcfx
Yes, you can use hedging/locking also right? About put Stop Loss, how much pips that you will put as your stop loss with your current position of open condition?

[Andry]

@amcfx
Wow that was reall cool man to target 100 pips daily as your profits. If your target reached, how many bucks that you could get in a day friend? Seems like you are expert trader.

[amcfx]

@amcfx
Yes, you can use hedging/locking also right? About put Stop Loss, how much pips that you will put as your stop loss with your current position of open condition?

I use 35 pips trailing. Don't use lower than this imho. Because average retracement moves are about 20-30 pips, you'll get stopped out quickly.

[Andry]

@amcfx
If me, I will look at the method and condition of market. If I trade with scalping method, I will limit my Stop Loss for about 20 pips because the movement when sideways won't be too far.