you went long usd vs aud? thats a ballsy trade. im expecting aud to rise long term. although the local government cant run the economy...
5% - 10% profit per day trading
- Thread starter spanish89
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OK, time for definitions of blowing up your account. The reasons why and how are unique to each trader, but the bottom line is that a drawdown or other negative turn has led to your account being too small to trade anything (account balance now below margin for desired contract) or to buy/sell anything of size to make trading profitable and beat commissions and fees (stocks, options, ETFs, etc). That is blowing up your account, in my opinion.
A royal pooch screw would be a margin call, where you not only blew up your account but also owe the broker money. The ultimate in self-destruction is where you perform the royal pooch screw topped off with a defaulted judgement in favor of your broker, where your wages are garnished and home gets a lien on it for the balance due plus the broker's choice of interest rate.
I blew up my account three times, all when I was very new to trading, when my account was very small, and no scars remain from doing so. I was trading cash when I should have been on a simulator.
A have never screwed the pooch. My system makes it impossible to do so, even if I entered a trade and forgot about it.
A royal pooch screw would be a margin call, where you not only blew up your account but also owe the broker money. The ultimate in self-destruction is where you perform the royal pooch screw topped off with a defaulted judgement in favor of your broker, where your wages are garnished and home gets a lien on it for the balance due plus the broker's choice of interest rate.
I blew up my account three times, all when I was very new to trading, when my account was very small, and no scars remain from doing so. I was trading cash when I should have been on a simulator.
A have never screwed the pooch. My system makes it impossible to do so, even if I entered a trade and forgot about it.
trading cash has its advantages. even if the result is "screwing the pooch". some people cant do it. the simulator i mean
What portion do you not understand? Can you not comprehend quadrupling money in a year? That is a 200% return.
It was FxScalper who had tempted me back in January to try out some fxs.
I foundthme very dull though since not much movement pipswise, but easy to longterm trend, prvoding you use a wide enough stoploss.
But you need to do more than £1 / £2 tick though to make enoug profit to live off each week.
But id chosen aud/usd as it was most exotic, and seemed even more overdone than eur/usd.
I knew eur and aud are correlating so they move the same directions, and so i knew how bad europe econimy was getting, and so when i heard trichet was being forced to talk about it on tv in a conferene where reporters would try tearing all the juicy bad details and there wa sno way he coul disguise the numbers,
so i just sold aud/usd.
i think he understood what you meant. he just thought it was "pointless". anyhow, calm down.
Quote from spanish89:
It was FxScalper who had tempted me back in January to try out some fxs.
I foundthme very dull though since not much movement pipswise, but easy to longterm trend, prvoding you use a wide enough stoploss.
But you need to do more than £1 / £2 tick though to make enoug profit to live off each week.
But id chosen aud/usd as it was most exotic, and seemed even more overdone than eur/usd.
I knew eur and aud are correlating so they move the same directions, and so i knew how bad europe econimy was getting, and so when i heard trichet was being forced to talk about it on tv in a conferene where reporters would try tearing all the juicy bad details and there wa sno way he coul disguise the numbers,
so i just sold aud/usd.
ok just so you know euro and aud really arent correlating that much. lately they are correlating against the greenback, because the greenback is rising. however if they were perfectly correlated then eur/aud would not move at all. but in any case. congrats on a good trade.
Quote from spanish89:
LOL
Why you ''may'' be skilled at trading, you might want to brush up on your mental arithmetic mate..
Since 200% profit means making double your initial account capital in pure profit, or ending up with 3x what your starting account value was.
he said 200% return. 100% return is doubling your money. 200% is quading it.
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