Is this what trading is like?

[Overnight]

Well, you have to admit...Being up $316 is much better than being down $2K!

 

[Nobert]

Well, you have to admit...Being up $316 is much better than being down $2K!

yeah. Sure.
(Updated initial post)

 

[farmerjohn1324]

Yeah, when you 1. Don't have a viable trading system that is a marked improvement over your previous pedestrian efforts, and 2. when you add to losing positions. I brought this up to you in your previous thread.

You press winners, not losers.

You're just winging it to be honest.

I wish you good fortune !

Ok. Well I hit both my TP's today and my Account is up 15% in two weeks.

 

[farmerjohn1324]

Well, you have to admit...Being up $316 is much better than being down $2K!

Hit both my TP's. Up $1532.

 

[Overnight]

Hit both my TP's. Up $1532.

That is much much better.

 

[farmerjohn1324]

Using poker app strategy.
Chillin in Turkey.
Then margin call(s?).
Doing FX.
Limited usage of TA.
No understanding in FA.
(Please correct any wrong statement)

Things are not - much better.
But at least your trying swings now. So that's some light in the darkness/progress.

You're wrong about the FA part. That's all I'm using. Everybody is expecting USD to rise this year, not just me. The only TA I'm using is looking at previous highs and lows.

 

[notagain]

EUR/USD if another down day, it's breaks to $1.16686

 

[JSOP]

I don't think 1% SL's can work for swing trades.

And I sized my account based on an amount that I could "afford to lose." It's not like my Fx account is 100% of my net worth. And it's 50:1.

Forex because I find them most interesting as opposed to indices or commodities.

Trading can get volatile but I would suggest you to have some stop-loss mechanisms in place to control losses instead of waiting until margin calls. Margin calls should be your absolute last resort and shouldn't be relied upon to control losses. You don't have to put in overt stop-loss orders in case if the broker hunt your stop-losses but just set a stop-loss level in your mind and have the discipline to take out the trade if the price closed above/below the stop-loss level.

 

[SouthbeachCTA]

I don't think 1% SL's can work for swing trades.

And I sized my account based on an amount that I could "afford to lose." It's not like my Fx account is 100% of my net worth. And it's 50:1.

Forex because I find them most interesting as opposed to indices or commodities.

You trade a certain market because you have an strong understanding of it and strategy where you have an EDGE, Not because you find it most interesting. You are looking at this industry too much as a curiousity/hobby than a business....

 

[farmerjohn1324]

Trading can get volatile but I would suggest you to have some stop-loss mechanisms in place to control losses instead of waiting until margin calls. Margin calls should be your absolute last resort and shouldn't be relied upon to control losses. You don't have to put in overt stop-loss orders in case if the broker hunt your stop-losses but just set a stop-loss level in your mind and have the discipline to take out the trade if the price closed above/below the stop-loss level.

Ok. But I certainly can't close the entire position at a SL that's closer to the price than the margin call. Remember that my margin calls are not 100% of the trade. More like 4%.