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Hi Jon, Not a bad strategy. The way I determined how to do it was go into trade preferences and select default stop/loss to a percentage (my risk is based on approximate percentages). Then, open a limit order and plug in your entry price. With stop loss checked, it will calculate the %...

Forgot the attachment.

10:10am – began looking for trades 10:52 – Long USD/CHF. Risk 36 pips (0.5% approx). 11:10 – stopped out. My loss was actually a bit more than 0.5%. When I was looking at Oanda’s risk controls they were for market orders, so I had to try my best with the market tool (and a...

Yes, I definitely agree with you on trying to keep things simple. That's why I'm having a hard time deciding - doing a % trade-by-trade is a real pain, but it makes the account extremely easy to manage. I do like your strategy of adjusting max drawdowns. I will think about this more. Thanks!

Personally, I am having some problems with my lot sizing. Originally, I entered trades on all the same lot size that would make each pip worth a set amount, and that was that. However, recently I decided I wanted more risk control. My new concept is to have the risk for each trade at a set...

I'm starting this thread to talk about risk management practices with forex.

I'll post a good chart today - it shows my slow vision.

Watching the market today. I believe I am pretty close to being able to trade and “watch” at the same time. I am trying to cram the ideology of only taking precise signals into my head and not focusing (as much) on direction, which to clouds my mind. I will have to focus on this over the...

Just wanted to give a brief update. I completely changed the way I take notes in classes. It sounds irrelevant, but I will be taking notes on my computer for my lone Tuesday-Thursday class from 2:00 – 3:15. I will be able to trade this time at least on Thursdays, so I will likely only be...

Just finishing my end-of-month tasks - editing all my documents and trading rules, and writing my monthly reflection: 1/31/09 on the Month of January In Review: This month was characterized by far less trading than I would have liked. I had a lot of free time the first two weeks of the...

There’s a big basketball game here tomorrow tonight, so I’m catching back-edge American and Asian today (began looking for trades 3:45 pm). Note for myself: still finding it a bit hard to ignore the active bar as a signal, so add a trading rule or something (so I’m subconsciously trying...

Watched the market with small pockets of time last night and today. I just reached a new level in my development – I’m reaching a point in my chart analysis (especially the EUR/USD hourly chart) where I draw too many lines I know will be respected. Because of this, my dotted yellows...

I put about five hours into the screensaver and making charts. I got my computer back (brand new hard drive and new motherboard in the past two weeks), and I’ll be able to watch Tuesday and trade during the day on Thursday. Attachment: Something I found interesting. I made it more as a...

Thanks for the support, Jaytrade. I'm not sold on the idea that the 1 min and 5 min are random, though. For one, I think that every timeframe gives clues to the next one (so 5 min gives clues to the 15 min, 15 min to hourly, etc.). Also, one of my rules says to trade on the market's...

Took an ill-advised long on the AUD/USD (3 hr account). It was placed with a good entry point on a formation, and had a good R:R because of it, but I was unsure of it and shouldn’t have taken it – I couldn’t decide if it was with the trend or was countertrend, so I really should have sat...

I would probably term it more like too much information. Look at what I did yesterday: I missed many signals I should have caught, and I completely missed something I should have caught in the USD/JPY - for one, I was expecting the rise to occur after probably 8-10 beautiful signals before it...

Old Rule: Temporary Rule: DO NOT OPEN THE 1 MIN CHART. OR THE 5 MIN CHART. EVERYTHING IS AT THE 15 MIN OR ABOVE. New Part: I’M NOT KIDDING. NOT EVEN A COMPRESSED 1 MIN OR CHART FOR “CLARIFICATION.” NO 1 MIN OR 5 MIN, PERIOD. I'm terrible at following directions. I really am.

During Trading Several months ago, I would have jumped onto the beautiful USD/JPY 3 hr spinners at the LOBF (also 1-2-3, other signals) but apparently I tuned in about two hours too late, and I will have to sit out and find a new entry. 7:05 pm EDT – EUR/JPY sell stop hit. Was playing...

Did 30 min of screensaver and 30 min of analysis and drawing lines on my major pairs. It was really great to be back, and I was just looking in awe of everything I’ve figured out so far, and seeing several charts in my screensaver with fresh eyes brought me some very interesting perspectives...

Hi fxtrader, Upon seeing this I would have referred you to Ivan's trade thread, but I see you've found it. I do plan on posting some my trades here after I close them, and feel free to ask questions, critique, discuss your trades, etc. if you wish. Inow, I'm pretty sure you asked me...