first fx trade

[mde2004]

You have any clue what you are getting yourself into cash. Is your account leveraged because this trade might wipe out your equity.

 

[AC3]

Quote from cashmoney69:

Long usd/chf @ 1.2175

stop @ 1.1871 (304 pips)

I've heard of crazier in the FX market.... best of luck... I'll watch

 

[Surdo]

I would not risk more than 100 Pips on this trade.
1.2035 - 1.2060 may find some support. (Daily)

swissie surdo

 

[cashmoney69]

Quote from turk87:


How much of your portfolio are you risking??

Good luck.

100% ... but its only a 250 dollar account so I could care less. On my stock trading account, I'd never do something so "dumb"?/ risky.

I'm using leverage, but I'm only risking what I have in cash, so if I do blow up, I wont owe them anything.

From what I understand from getting off the phone from the dealing desk, is this:

Because Im long, I subtract the "new long" from the yesterdays close, and multiply that by # of lots.

so here it is:

new long --> 1.214450

close --> 1.2145

difference --> .5

So it looks like I paid .50 cents in rollover on 5/1/07

 

[cashmoney69]

btw, if you add moving averages to the daily, you'll see a crossover about to happen. Momentum is also on the rise.

 

[mde2004]

$250 and a 300 pip stop, are you trading stocks with a three digit bankroll too.

 

[cashmoney69]

This is a perfect example of the "If this trade works, I'm a genius, and if it fails I'm an idiot" syndrome.

 

[mde2004]

You better not manage any account over a thousand because you clearly cannot read a chart and should probably stick to studying for your next test in college.

 

[cashmoney69]

Quote from mde2004:

You better not manage any account over a thousand because you clearly cannot read a chart and should probably stick to studying for your next test in college.

Funny you should say that. I've been managing a 15k plus size account for over a year now. And I dont care what the monthly chart says, I dont hold long enough to care about those time frames...and btw, if you look at the weekly, it's pointing upward.

A chart is historical data. dont forget that.

 

[RapidFireFX]

Quote from cashmoney69:

Funny you should say that. I've been managing a 15k plus size account for over a year now. And I dont care what the monthly chart says, I dont hold long enough to care about those time frames...and btw, if you look at the weekly, it's pointing upward.

A chart is historical data. dont forget that.

Where's your USDCHF now Cash? Are you sure you meant to say you went long?