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Well if it's true then a new challenge awaits her, because trading alone and making money consistently is one thing, but trading OPM that's quite another story, because of the added psychological pressure: Angry customer #1: "Hey, how come we made only 2% last month???" :mad: Angry...

What time frame is that exactly (we cannot see a thing on your chart)? The descending channel itself does not even seen like a real channel with a real breakout. And even if that's the case, watch out for a possible nasty pullback...or two (assuming we are indeed witnessing a breakout in...

Managing OPM, the ultimate goal (and dream) of every successful trader! :)

I do hope so.... for their own good! :p

The real question is this : Do you want to make money (and this is what this crazy trading business is all about) or do you want to socialize with people? Seriously, do you want to make big bucks and retire wealthy or do you just want to hang out at the water cooler at the office and talk...

For me this is not even a question, because the amount of risk you are taking on each trade must only be dictated by your own fully backtested trading system. You cannot simply place and trade and say "Ok, let's see here, how much risk am I willing to take...?". The minute you do that you are...

Then give it back to your broker, you will feel much better. :D

Buying again at 1.6075 Same stop. Now each pip earned or lost is worth 2 pips. Come on EUR/NZD, get up there boy! :cool:

That's the problem with that kind of powerful move, you cannot find a decent support level to join the party and at the same time it's dangerous to even search for reversal trades!

Hahaha, it seems that way, congratulations! :p

Sounds like a good plan. In fact on the 4h chart, the EUR/JPY has completed a powerful reversal pattern, because it takes a LOT of buying interest to completely reverse a 125 pip drop with only one candle (see chart below). Personally I will wait for a pullback and buy the EuroYen.

Watch out though, this is not a good time to short the Yen...

I believe he is talking about being new to the Futures and Stock markets, not the Forex. Also note that the 1 million dollars = margin money. On a 100:1 leverage Forex account that represents 10K trading capital, if I understand his previous post correctly.

I cannot tell you where your stop is supposed to be if I don't know the logic of your system (assuming you are a system trader).

Bought EUR/NZD at 1.6075. 68 pip stop.

A 16 pip stop on that time frame (2H) and with a possible weekend price shock?? :eek: The huge spread alone (when market re-opens on Sunday) will trigger your stop in 2 seconds! Anyway, good luck with that one.

What's the name of your system on C2?

Out at .8326, 26 pip loss. Total since beginning: minus 30 pips. Not a bad month after all, drawdown was reduced by more than 90% and the system managed to generate a small 30 pip loss, from May 4 to June 4.

Ok, I see at least 2 problems with that trade: 1: You were attempting to buy at a resistance area (see chart below). If you still want to buy wait at least for a breakout and a pullback. 2: Your stop was way too small for your time frame (4H).

AUD/CHF : How long can this weak trendline hold on...?