How many pips or % to quit?
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thread: How many pips or % to quit?

  1. #1

    How many pips or % to quit?

    Whats the Rule? I have been producing 100 pips quite regularly. But by simply looking my current loion today, I have drawdown.

    Short gold @ 759.0, currently spot 785.0, I am down 260pips (3.4 percent). Allowed little lot but the pain is there and I am wondering when I should cut. Should I hang on to my analysis that gold endure the drawdown, and must be about 740. I am very confused. I lose money, although I understand how to generate income.

    Previously I have cut 500pips losses only to see it moving back in the original direction. Ever since then, I tried keep losses to 100pips but if I am so preoccupied to reduce every time I see -100pips, I will shed more than I make (for some reason, chart constantly go against me before going my way). So what if I do? What's the magic amount or technique. Please share.

  2. #2
    Junior Member Lorena_sfc's Avatar
    25
    The magic numbers are....

    D0 N0T 5H0RT 60LD

    Buy on dips... always and forever, until we find another planet....

    Http://img522.imageshack.us/img522/1...3650nybmi3.gif
    My thoughts exactly. Ive been buying gold all the way up. I still think its got space to go also.

  3. #3
    Junior Member RafiCalvo's Avatar
    15
    Whats the general Rule? I've been making 100 pips very. But by simply looking my current loion today, I've drawdown.

    Short gold @ 759.0, now spot 785.0, I am down 260pips (3.4%). Little lot however, the pain is there and I am wondering when I should trim. Should I hang on to my analysis that gold endure the drawdown, and should be around 740. I am very perplexed. I lose money very easily too, although I know how to generate income.

    Previously I've cut 500pips losses just to see it going back in the first direction. Ever since that time, I tried keep losses to 100pips but when I am so disciplined to reduce every time that I see -100pips, I'll lose more than I make (for some reason, chart always go against me first prior to heading my way). What exactly if I do? What is the number or technique. Please share.
    You should not get into a trade unless you know exactly where you'd get out and why. Nobody can answer that for you for becoming, among other matters, because no one knows your reasons. But judging by the fact you had to visit a forum asking for an exit egy you ought to happen to be out. My counsel is near your position and forget about trading reside till you have a trading program. Your egy should provide all the answers. Including whether a place goes sour, when to bond.
    You state you know how to generate money and say you are just fooling yourself. Earning money is not about analisys or getting into positions that finally hit the target but rather about maintaining your capital and staying in the sport for the long haul. Your funds is your most valuable tool. Cherish it, and protect it, particularly.
    Please don't take this the wrong way. I am saying some of this things to you the exact same way I am saying myself.

  4. #4
    Junior Member JaviSpears's Avatar
    15
    Whats the general Rule? I've been producing 100 pips quite. But by simply looking my current position I have drawdown.

    Short gold @ 759.0, currently spot 785.0, I'm down 260pips (3.4%). Allowed little lot however, the pain is there and I'm wondering when I need to trim. Should I hang on to my analysis that gold must be about 740, and endure the drawdown. I'm very confused. I understand how to generate income, but then I lose money very easily also.

    Previously I've cut 500pips losses only to see it moving back in the first direction. Since then, I tried keep losses to 100pips but when I'm so preoccupied to reduce every time that I see -100pips, I will lose more than I make (for some reason, chart always go against me first before heading my way). So what should I do? What's the magic amount or technique. Please share.
    The magical number for losses is about: - 182.98564883345 pips.

    Matouya: '' I understand how to generate income, but then I lose money very easily also. - :amazed

    Perhaps you need to try instead: '' I understand how to lose money, but then I make money very easily also. -

  5. #5
    Junior Member ttacar93's Avatar
    29
    Maybe you need to try instead: I know how to drop money, but then I earn money very easily also. -
    My thoughts exactly...

    Hold untill you receive a margin call would be the best egy!

  6. #6
    Junior Member Kenzox13's Avatar
    15
    The magic numbers are....

    D0 N0T 5H0RT 60LD

    Buy on dips... always and forever, until we find another world....

    http://img522.imageshack.us/img522/1...3650nybmi3.gif

  7. #7
    My thoughts exactly...

    Hold untill you get a margin call could be the ideal egy!
    He came here asking for help and that is what he gets. I hope you are feeling man.

    I can't answer this is just one plain answer for you because, like said above, I don't know the justifiion to your shorting. If you are a long term trader and are holding because you saw something on the long-term charts then stay until you see.
    If your trading short term, dependent on dailies or reduced, then you need to re-analyze the situation. Once you do this, figure out : 1). Would I take this trade. 2. Why would I not take this trade. 3. Can this transaction is held by me out of here?

    It seems to me by you telling us that you are concerned about this position which you are still implementing emotion into your own trading. My suggestion to you is this, take a small break ( I know it's hard to). If you do this and are still making the very same mistakes, then it's time to find out more. Fantastic fortune to you. Most of the time, folks here are fantastic about assisting ask somebody if you have more queries. All of us started out, the identical way, for the most part.

  8. #8
    I forgot to mention, there is not any magic number to get a loss. It's based on how large of a drawdown you feel comfortable holding. If you're using a leverage, then obviously your tolerance to drawdown will probably be smaller. If you're currently using less you can maintain a larger drawdown and not be affected.

  9. #9
    Junior Member JaviSpears's Avatar
    15
    I forgot to say, there's absolutely no magic number for a loss. It is based on how big of a drawdown you feel comfortable holding. If you're using a greater leverage, then your tolerance for drawdown will probably be smaller. If you're currently using significantly less, then you can maintain a larger drawdown and not be affected as badly.
    Mike w/ You would become a fantastic politician

    matouya: If you're trading with considerable quantities of money on your own, then please stop investing now, immediately. The very best advice I can provide you.

    When the money you've got on your trading account implies basically nothing for you, continue with fun if you like to. After the Forex is completed with you, then please do not fund a different account, begin demo/paper trading.

  10. #10
    : You'd develop into a great politician

    matouya: If you are trading with considerable quantities of money on your own, then please stop trading today, immediately. The best advice I can provide you.

    If the money you have on your trading account means basically nothing for you, continue with fun if you like to. After the Forex is completed with you, then please do not fund a different account, start demo/paper trading.
    Yeah I guess your right, I would. Lol Dumb article I know, but I can not be sure of exactly what other men and women know or not... Matouya, he'd only offer you some good advice. I'd follow it, if you do not know how to have a loss however.

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