Do full-time forex traders exist or is it just make believe?

cornix · May 3, 2013

Quote from SimpleTrades:

The account is the stop loss. I am risking what I am willing to lose. I allow 1 mini lot per $1000. Margin requirement is about $391 at 33 to 1. So my stop loss is about 600 pips.

Makes sense then. No need to keep more than actually needed on your trading account.

marketsurfer · May 3, 2013

Quote from cornix:

Makes sense then. No need to keep more than actually needed on your trading account.

I agree with you here. Only ones who want you to keep more in the account are the brokers. surf

cornix · May 3, 2013

Quote from marketsurfer:

I agree with you here. Only ones who want you to keep more in the account are the brokers. surf

Yea. I keep the absolute minimum with the brokers myself (derived from historical draw-downs plus required performance margins). Simply no need to lock more money than you really need to trade there.

RCG Trader · May 3, 2013

Quote from oldtime:

and as soon as it moves in our favor we are like scared rabbits, take it and get the hell out of there

And that's what kills traders, max loss, min gain.

Great post.

Daring · May 3, 2013

Quote from cornix:

Makes sense then. No need to keep more than actually needed on your trading account.

And what to do with the excess cash ?

Whole new problem arises when you consider that.

Daring · May 3, 2013

Quote from SimpleTrades:

True, but every single EUR/USD trade that has gone against me has bounced back and become a profitable trade. I have decided to make my account my loss prevention; I am not willing to lose more than what is in my account. So, I have only $1000 in the trading account at any given time. As I profit, I transfer the money out and into my stock trading account which is actually a buy/short and hold account. Next week I will double that $1000 to $2000 and double my position sizing.

R.I.P. in the making

OccupyThis · May 3, 2013

Dayum- 200pts in the Euro. Good to see a little more volatility coming back into this.

RCG Trader · May 3, 2013

Quote from Daring:

R.I.P. in the making

I dunno. If he is with Oanda and is trading 50 cent lots on that 1000 dollars he could hold thru quite a bit.

RCG Trader · May 3, 2013

Quote from OccupyThis:

Dayum- 200pts in the Euro. Good to see a little more volatility coming back into this.

Yeah, sweet!

I have moved on to the Yen pairs only. I don't know why more people don't trade them.

RCG Trader · May 3, 2013

Quote from cornix:

Yea. I keep the absolute minimum with the brokers myself (derived from historical draw-downs plus required performance margins). Simply no need to lock more money than you really need to trade there.

Cornix. PM me your website. I want to have a look.