RahmanSL
Major
- Messages
- 2,934
First off, to clear things up here regarding my posts, I am NOT anti-Henry; yah! In fact, he is very much my senior in forex trading and for that I respect him.
Anything senior Traders have to post here at the FPA and elsewhere, I am interested as I want to gain more knowledge on the mechanics of how senior Traders execute their trade and, especially, the rational(s) for that trade execution.
Calp, I look forward to reading your trade statement as I am very sure I have plenty to learn from studying them.
Teodor, thank you for posting old Henry’s trade signals; yah!
At a glance, it looks like daily trades are placed between 1 to 4 positions with preset SL & TP.
After reading (in forums) some rational arguments against presetting SL, I have stopped (or very seldom) presetting SL as I too have discovered all too frequent being stopped out in mere 1-2 pips before market reversal. Guess old Henry there is trying to be cautious and taking only tiny bites off the forex market whist trying to limit potential losses too at the same time. Personally, I have also tried this type of strategy, but the profits realized is rather unsatisfactory and being stopped out by mere 1-2 pips before market reversal really sucks big time.
What size lot would those “10K” trade execution be?
I still say that if old Henry there wants to play safe but still give program participants some big returns on their usd10k investment, he should go for the Long Term/Investment type trading…i.e go in on 1-3 trade positions when currencies pair/commodities are on the high side and than wait for them to reverse. This way, he will achieve at least 30% profits at a time….and I am being very conservative in saying “30%” as it can go way, way higher.
Going in on the high side of a “Sell” trade does not necessitate presetting SL either as (going by past charts) you just have to sit it out and wait for expected market reversal…especially for currencies as no government wants their currencies to be over valued.
It can be true for undervalued currencies too, but I would stay away from speculating on that due to the case of the Lesson(?) guy who bankrupt one of the oldest British bank back in the nineties. He went in on currencies pair which he thought had hit rock bottom, but the currencies pair just kept on going down, and down until he probably got a margin call. I am not too sure of the details, as I was not into forex back then.
Ok, to all participants of the “10k to 1mm” program, all the best in your trading and I do hope you will achieve both financial and satisfaction gains from your investment….but hey, 24% gain is still way, way better than what any bank in this world would pay you for your fixed deposit : )…so in this sense, old Henry there is giving you good returns for your investment, but I think it will be a while before you become a millionaire though!
Anything senior Traders have to post here at the FPA and elsewhere, I am interested as I want to gain more knowledge on the mechanics of how senior Traders execute their trade and, especially, the rational(s) for that trade execution.
Calp, I look forward to reading your trade statement as I am very sure I have plenty to learn from studying them.
Teodor, thank you for posting old Henry’s trade signals; yah!
At a glance, it looks like daily trades are placed between 1 to 4 positions with preset SL & TP.
After reading (in forums) some rational arguments against presetting SL, I have stopped (or very seldom) presetting SL as I too have discovered all too frequent being stopped out in mere 1-2 pips before market reversal. Guess old Henry there is trying to be cautious and taking only tiny bites off the forex market whist trying to limit potential losses too at the same time. Personally, I have also tried this type of strategy, but the profits realized is rather unsatisfactory and being stopped out by mere 1-2 pips before market reversal really sucks big time.
What size lot would those “10K” trade execution be?
I still say that if old Henry there wants to play safe but still give program participants some big returns on their usd10k investment, he should go for the Long Term/Investment type trading…i.e go in on 1-3 trade positions when currencies pair/commodities are on the high side and than wait for them to reverse. This way, he will achieve at least 30% profits at a time….and I am being very conservative in saying “30%” as it can go way, way higher.
Going in on the high side of a “Sell” trade does not necessitate presetting SL either as (going by past charts) you just have to sit it out and wait for expected market reversal…especially for currencies as no government wants their currencies to be over valued.
It can be true for undervalued currencies too, but I would stay away from speculating on that due to the case of the Lesson(?) guy who bankrupt one of the oldest British bank back in the nineties. He went in on currencies pair which he thought had hit rock bottom, but the currencies pair just kept on going down, and down until he probably got a margin call. I am not too sure of the details, as I was not into forex back then.
Ok, to all participants of the “10k to 1mm” program, all the best in your trading and I do hope you will achieve both financial and satisfaction gains from your investment….but hey, 24% gain is still way, way better than what any bank in this world would pay you for your fixed deposit : )…so in this sense, old Henry there is giving you good returns for your investment, but I think it will be a while before you become a millionaire though!
[10K]
