Maybe I'm a successful trader now?

[Morpheus]

I haven't had a losing trade since March 12th. That's pretty damn good for me. And I've made at least one trade every single night since march 12th. Some nights I've had two but most just one trade. ANyway, I thought I'd share it since some are frustrated in here. It only took me what....6 months. hahahaha.. That's quite a long time. I got 7 pips tonight. I'm up 17 pips this week so far. I'm just a scalper. I hope to be trading like 3 to 10 lots per pip by the end of the year.

[techno791]

Good deal. I hope you didn't make that during Asian session though. I took the day off for their holiday for trading since it was dead, and then the BOE minutes, FOMC decision, i did no set and forget trades or live last night.
When I finally get an Aussie/Dollar entry, I'll beat your pips. But it's a slow moving pair.

I haven't had a negative week in a while. But I'm not making as many trades as I'd want.

[wolf825]

Congrats Morph--good job...just don't give back those profits or get too cocky or lax in your trading--stick with what you are doing if its working for ya...

Trading has been very fluid lately... After the Fed rate today we should see a bit more stability (perhaps some nice trending ) and some fine and dandy BIG trade opportunities may begin to present themselves....

-w

[techno791]

I am ecstatic! I haven't had this much fun since thanksgiving.

FOMC announcement. I KNEW the price would bust through 1.9600, I was calculating buying a contract(futures, binaries). I hesitated. Lost good gains on that.
I listened to the announcement on CNBC. I saw my oppty going away. I was listening, i figured it was going to be weak dollar, even though CNBC keeps saying Hawkish, and now are saying "no one in the rooms knows what this means".
Entered long 4 pips too high, watched it retrace 10 pips, watched it go back up 15. Got 10 pip profit, could've had 15plus!

I should've reentered on the breakout. 20 pips on the technical news event breakout at time of typing. Celebrating costed me a downer now.
Correction, almost 30 pips on the technical breakout. My energy is sapped.

2:35, depending on how you line up your candles, another news break off the highs? Not sure if that counts, I never done such a thing in Forex so long after an announcement. But that'd equal 100 pips almost by now. No more watching to me. Watching for Tokyo now.

[Mus]

how much you guys make off a pip?

[wolf825]

Originally Posted by Mus

how much you guys make off a pip?

Depends on the pair, the lot size or number of lots, and leverage... Generally speaking 1 pip, which is one increment of movement for that price, can be worth anywhere from .10 to $1 to $10--all depending on the above and how you trade....

-w

[Morpheus]

I did take a break from forex and now I can't remember some things. I got a 50: 1 account. How much money do I need in it to trade $5 / pip ? I'm still going easy until I'm really confident that I'm a winning player. Lets assume that I'm wild and I use a 20 pip stop loss. I don't believe in the 2 % thing or whatever people use. $10 /pip is 1 lot , right? Or around there for Eurusd and most currencies. I can't wait until I'm trading that size.

[mister_doodi]

Gotta love triple interest wednesdays, I'm about collect a nice chuck lunch money in few minutes.

[Sheldon]

I've had about 20 loosing trades in a row in Forex.

Stocks are good, but Forex is ridiculous to me. I can't get my head around it and whatever I do, the opposite hapens. Very frustrating.

[sirensiren]

I've really come to like playing the bollinger bands in non-peak hour situations and then go back to my main system for peak hour trades. I feel like you morpheus where I want to trade but I can't. I need to figure out how to get more trades going that are winning because when I force trades I lose.