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Reaver
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Everything posted by Reaver
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Welcome to the forum!
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Nice job, man!
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How Many Trades Is Necessary To Gain Good Experience?
Reaver replied to Andrew28's topic in Beginners Forum
Nothing is concrete. Everyone is different. That's like asking how many times do you go into combat before you're considered experienced.....could be one time, could be ten. From the outside perspective, maybe after once....but only you will know for sure. That's what is important. -
Soul, Hey bud what made you use the formula that you currently use for pivots?
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If you're wanting to get a feel for trading real money, you can open an account with Oanda...they let you trade any size you want. I started out with $100, no false hopes or delusions, but I wanted to get a feel for the difference between papertrading and real money. Even if it's a few bucks, it will still make a difference in your approach if it's real money on the line. Good for making the transition.
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Tin, Torero, if you think this would be better suited to the options discussion thread, feel free to move.....I just didn't want the nice thread to turn into a tangent on my part. Married puts and calls sound good in theory, but we know how that usually goes.... Do you think they are a good idea? I knmow almost nothing about options, so I definitely appreciate any input. Thanks!:p
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Basically it looks like you just set up an LLC as a money management business and trade away, then worry about taxes based on p&l and whatever expenses you are allowed to deduct from your business.....am I on the right track?
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Cool, Thanks Mr Paul. Have a good one brother.
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Thanks for the info. By the way, Mr Paul, what are your thoughts on mypivots.com? I read some of the info and I like the ideas they present, but do you have any experience direct or otherwise with the software, etc they offer? Thanks!
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Thanks James. I got hammered on AUD/USD last night, but no worries there. ha ha
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I shy away from signals.....I just don't trust em a'tall.
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Just want to wish everyone Good Trading this week. Get the word out to come check out the forums! Thanks, happy trading.
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Hey not as bad as I thought....the savings would add pretty quick. lol I sound like I'm shopping at Walmart or something. ha ha Thanks for the link Soul.
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Thanks for the links. Good reading!
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It's easy to get picked off by huckster marketers and scammers when you're new to the game, simply because you don't know any better. Kind of like a stranger giving a kid candy, same principle. I really think this forum serves as an excellent reality check and sounding board for those that would otherwise be surrounded by all the garbage out there.
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Yeah it's hard at first to separate the wheat from the chaff. Not knowing anything about the markets at all makes it easy to believe that there are some secvrets, etc to making it rich. I'm glad I used my brain when I got started and realized that there is no shortcut. I'm still learning, but then again, so is everyone. This forum makes an excellent sounding board and reality check for those caught in the mix of all the bs, etc out there.
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I agree, make sure you know what you're getting into before you start participating. Like Soul said, you will be absorbing the mentor's style to some degree whether advertently or not. So just make sure what is being taught is to your liking. Best of luck.
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Looking forward to it brother. I'll be at the top of the pre-order list.
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I look forward to the day I can rationally take trading on full time, although I know it will be a while. I am with TinGull, My fiance works full time as do I, and we are slowly but surely cutting my hours to alow more time for me to trade.. It's funny, it's kind of a scale in/out strategy, each promotion she gets, we cut my hours back a little since we are earning more income and afford it....it's working quite nicely so far.
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I use both. I have a bottom line puke point hard stop that I put way off in the distance, for backup, but as far as my working stop, I keep that mental. I like to make sure I know what the markets are doing before I let something like a hard stop arbitrarily take me out of the trade.
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You're Favorite Techinical Indicators - List Them
Reaver replied to Maxwell's topic in Technical Analysis
The only indicators I use are a wma and a parabolic sar for forex. I mainly view price,and use the wma for confirmation and sar for hard stop placement (although I don't follow the sar exactly, too obvious for price spikes to take you out). I don't get much fancier than that. -
Stick to the Charts, not Fundamentals
Reaver replied to Follow The Trend's topic in Technical Analysis
This is a very simple, but very essential concept to grasp. I suggest taking a good look at what it really means. I know the concept seems trite, but it is one of the most important trading ideals I have come across. -
The TTM Squeeze is a very good concept, but having observed it for a while, have found it to be less accurate than many people think. Of course we know that no indicator is anywhere near perfect, but with that being the case, I still wouldn't feel comfortable relying on an indicator to enter a position. But there is a good chance I was reading it wrong, so definitely check it out and see for yourself what you think. Good luck.
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Read the first couple pages of Mind Over Markets about Jim for an excellent example of why I greatly prefer discretion.