[PYenner]

Thank you Warren

Anything you can conveniently share would be appreciated, Risk and Money management are on the need to know list.

[Warren Forex]

Let us discuss Money Management !

Save up $10,000 US Dollars after you have Demo traded for about one year with a $50,000 US Dollars Demo account.

Now you are maybe ready to trade for real with real funds.

With the $10,000 US Dollars on deposit do not trade more than 20% of the funds. Therefore you can buy 2 positions of USD/JPY using $2000 US Dollars of your capital. Say you sold USD/JPY at 1.1900 just after the NFP number of 92,000 New Jobs on Friday that was announced.

You had put your Stop Loss at 1.1920...Your MAXIMUM loss would have been 20 PIPS times 2 Positions or $400 US Dollars as your loss. That adds up to 4%of your starting capital. You might have bought one Position at 1.1900 and a second one at 1.1880 to average in your costs.

If you had lowered your stops during the day as the Dow continued to head lower after 2:00 PM EST than you would have a nice profit for little risk using this method that I use.

I was out of ALL Positions except for 2 USD/JPY that I entered at 1.1922 prior to the 8:30 AM EST release of the NFP numbers. I was also waiting for the ISM number at 10:00 AM

I would be glad to answer any questions that you may have.

Regards

[Warren Forex]

Any serious FX traders try hard to read and understand the information in the link that I will post now... http://www.financialsense.com/fsu/ed...2007/0803.html

Even if you are a TA FX Trader you can only improve your FX trading understanding the subject matter.

I try hard every day to learn and understand more about TA

Good Trading All !

[thetradingdoctor]

Hello All,

I am here listening to this. It is a totally individual decision re: helping others to trade. I love helping others with the psychological aspects of their trading and seeing them improve on a steady basis. However, I limit myself to trading one market and do not coach traders in that market. I coach a lot of people, but no gold traders. This is my way of staying out of my way and not putting myself in a position to second guess what I am doing. Could I make more money trading several markets? Most likely I could, but it is my choice at this time to trade less, write more and help as many people as I can to take themselves to trading excellent. It has taken me 14 years of trading to get to this point, but I came to trading from a profession which was very good to me financially and I did everything possible to save and invest for passive income. This behavior comes from my personal history which many of you already know, and if you wonder and don't know, please ask and I will tell you?

We are talking about individual preferences here. No one is right and no one is wrong. It is totally up to each individual to make his or her own choice about how to help or not help another trader, how much to help or not help another trader, etc.

In order for free flow of discussion on this thread, we are in a situation of unconditional positive regard for each other. This is always principles before personalities. That means that everyone is free to speak his or her mind and share the many thoughts and feelings you have. We are here to share experience, strength and hope with each other. In this world where there is so much anger, hostility, hatred, retribution and pain inflicted upon us by others, it is a refuge to find a space place where we know we can speak openly and without fear of retribution. In the process, we remember that, depspite differences in opinions, we respect each other and send kindness as the greatest gift we give to each other. It is up to each of you to take things personally or not take them personally. I say let's band together to make this thread a safe place for everyone and refrain from any personal attacks. We are all in the same boat. We are all learning something every day, and learning is best with free exchange of ideas, data, information and knowledge. I hold every one of you in unconditional positive regard and I love interacting with you.

That said, I am starting a new thread today on the Market Mistress.

Thanks for being there and listening to me today!

Doctor Janice

[walterw]

Originally Posted by Warren Forex »

I could post here a half dozen ways that anyone could improve their FX trading and I just might do that. I have had experiences in the past posting on FX forums that those with the desire to fail and 95% do just ignore the information and try to convince you that you are wrong. I wonder if this FX forum might be different ?

One quick point is without understanding the fundamentals it is almost impossible to be a consistent winner in FX trading.

A basic tenet of Technical Analisis is that it discounts Fundamental analisis... NOw If you have enogh level of preparation on fundamental analisis I believe you may have some edge on a only technical analist... the problem is learning fundamentals... there is no so much information on the non-formal study resources.... I would really apreciatte Warren if you start a thread on fundamentals, it would be very nce to know something about this, would really aprecciate... cheers Walter.

[walterw]

Originally Posted by thetradingdoctor »

Hello All,

I am here listening to this. It is a totally individual decision re: helping others to trade. I love helping others with the psychological aspects of their trading and seeing them improve on a steady basis. However, I limit myself to trading one market and do not coach traders in that market. I coach a lot of people, but no gold traders. This is my way of staying out of my way and not putting myself in a position to second guess what I am doing. Could I make more money trading several markets? Most likely I could, but it is my choice at this time to trade less, write more and help as many people as I can to take themselves to trading excellent. It has taken me 14 years of trading to get to this point, but I came to trading from a profession which was very good to me financially and I did everything possible to save and invest for passive income. This behavior comes from my personal history which many of you already know, and if you wonder and don't know, please ask and I will tell you?

We are talking about individual preferences here. No one is right and no one is wrong. It is totally up to each individual to make his or her own choice about how to help or not help another trader, how much to help or not help another trader, etc.

In order for free flow of discussion on this thread, we are in a situation of unconditional positive regard for each other. This is always principles before personalities. That means that everyone is free to speak his or her mind and share the many thoughts and feelings you have. We are here to share experience, strength and hope with each other. In this world where there is so much anger, hostility, hatred, retribution and pain inflicted upon us by others, it is a refuge to find a space place where we know we can speak openly and without fear of retribution. In the process, we remember that, depspite differences in opinions, we respect each other and send kindness as the greatest gift we give to each other. It is up to each of you to take things personally or not take them personally. I say let's band together to make this thread a safe place for everyone and refrain from any personal attacks. We are all in the same boat. We are all learning something every day, and learning is best with free exchange of ideas, data, information and knowledge. I hold every one of you in unconditional positive regard and I love interacting with you.

That said, I am starting a new thread today on the Market Mistress.

Thanks for being there and listening to me today!

Doctor Janice

Nice to hear from you Janice ¡¡ cheers Walter.

[Jakew]

Originally Posted by BlowFish »

I guess I am a terrible cynic but I think the reason anyone does anything is essentially selfish. There is nothing wrong with being selfish imo. Put another way people do things for others because it makes them feel good. Or as has been said they hope to learn something through the exchange (self interest). Or they just want to 'show off' (look at me aren't I clever). I think even when we do things for our children or loved ones it is because when they feel good we feel good (so a selfish action even if for another). Even when we do things out of a sense of responsibility or guilt it is to assuage feelings within ourselves.

btw Isn't a speculator simply someone that assumes risk for a potential reward. Not quite sure how that fits in (yet).

Personally I always wanted to be hugely succesful at trading (10's or even 100's of millions). Apart from satisfying my Ego I'd really like to make a big difference in the world (money affords that opportunity). The reason? to make me feel good. (Who wouldn't feel good about improving society?) Personally I see no conflict between altruism and selfishness.

True, most likely. In any case, we need more of those "egoistic altruists" rather than "egoistic egoists" in our world. It is beautiful when people derive satisfaction form helping rather than hindering. Along these lines - who like stoics draw satisfaction from behaving like their noble code they embraced dictates them, with no regard of the outcome (of the trade, one might say)

[Warren Forex]

Originally Posted by walterw »

A basic tenet of Technical Analisis is that it discounts Fundamental analisis... NOw If you have enogh level of preparation on fundamental analisis I believe you may have some edge on a only technical analist... the problem is learning fundamentals... there is no so much information on the non-formal study resources.... I would really apreciatte Warren if you start a thread on fundamentals, it would be very nce to know something about this, would really aprecciate... cheers Walter.

Dear Walter W or anyone else reading my reply. If there is enough interest I will start and continue to post in such a FUNDAMENTAL THREAD.

Please let me know.