How Would You Classify 1 - 5 minutes trading

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Re: How Would You Classify 1 - 5 minutes trading

Postby User » Fri Jul 03, 2009 1:26 pm

Forum transfer: Submitted by LUM on April 15, 2009 - 08:47.

This is a technical point which someone can help with a clarification. After a BUY or SELL order with the necessary STOP LOSS and LIMITS are entered, how do we know the amount of profits earned for each trade. Would profits earned at CLOSED POSITIONS only. I receive negative profits in the Demo Account most of the time trading on the 15 mins. time frame in EUR/USD and AUD/USD markets.
Regards. LUM
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Re: How Would You Classify 1 - 5 minutes trading

Postby User » Fri Jul 03, 2009 1:27 pm

Froum transfer: Submitted by Warren on April 22, 2009 - 00:04.

Hi LUM,

you earn profits or lose money only after you CLOSE a position. If you had negative pips when you closed a position, you sustained a loss. If you closed in positive pips, you gained profit. Until you CLOSE a position, you account balance won't change no matter what floating pips (profits or losses) are currently shown in your open trade.

These articles helped me a lot to understand and choose time frames:
http://forexbeginners.net/what-time-frame-to-trade
http://forexbeginners.net/trading-multiple-time-frames

cheers,

Warren
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Re: How Would You Classify 1 - 5 minutes trading

Postby User » Fri Jul 03, 2009 1:27 pm

Froum transfer: Submitted by User on May 4, 2009 - 06:11.

Dear Mr.Edward i found your webiste i wish i should have been here 6 months before,i think its not too late.i have burned my account from 3 digit to 200.

Sorry to ask this crazy question :->
1. is it posible to move from here or should i fund in again,
2. My immediate goal is very simple - to reach 500 to gain some confidence to proceed further
3. what kind of strategy would be ideal for me to move slowly from such low equity
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Re: How Would You Classify 1 - 5 minutes trading

Postby Edward Revy » Fri Jul 03, 2009 1:37 pm

Froum transfer: Submitted by Edward Revy on May 8, 2009 - 15:54.

With 200 dollars it is still possible to recover.
The most important thing you should do is switching to micro lots, e.g. 0.01 lot, where each pip equals 10 cents. (Failing to do so (or if your broker doesn't support micro lots) will increase chances of bring your account down).

On this stage also try to refrain from trading Daily strategies.
Please use one you like and understand best:
http://forex-strategies-revealed.com/tr ... y-123swing
http://forex-strategies-revealed.com/te ... ple-system
http://forex-strategies-revealed.com/ad ... s-breakout
http://forex-strategies-revealed.com/sc ... of-gravity
http://forex-strategies-revealed.com/those4indicators

with all this take a close look at Trading method #1 (9 EMA) - http://forex-strategies-revealed.com/tr ... 9ema-entry
and as you trade to recover your account, do not set indefinite profit goals, it is better to trade the momentum and capture quick 10-30 pips per trade and move on until you reach your goal of $500.

Regards,
Edward
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