The Thief of Wall Street
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DislikedFrom one perspective you are right but not from my perspective.
One option is to seek a good r/r i.e 1/10, 1/50 or 1/100, etc.. But this market is so volatile that it takes several attempts to catch such high r/r trade. And by the time we catch this trade, we have already lost the advantage. For example if we are looking for $100 loss or $1,000 profit, it may take 6 or 7 attempts to catch such move. By the time we catch this move we are already down by $600 or $700 for a trade that yields $1,000.Ignored
QuoteDislikedThis past week, I went for a 500 to 700 pip move on EUR/USD. It went in my direction by 200 pips, moved stoploss to BE and waited for my 500 pip profit. What happened next ....... In single move it came down 200 pips to eat my sl that was 200 pips below. No loss on this particular trade, as it hit my sl at BE, but what about all the short-term opportunities lost by focusing on this particular trade and blocking my margin?
QuoteDislikedI don't see any advantage in playing longer term / swing trades. I want to convince myself that bigger moves are more profitable, but someone please convince me. Have also started a thread for this short-term/Long-term trading inviting discussion on this topic. So far not convinced that swing trading is more profitable in "Forex" market. Yes, equities and commodities are something different.
Disliked....... What if you were able to add positions once the original position(s) have been moved to breakeven, thus rolling any risk over to trades towards the market's direction, rinse & repeat, giving you an expotential unrealized profit. Worst happens (happens most of the time) you will lose the initial risk on your most recent trade (and some at BE) yet have older risk-less positions open still with the ability to reenter...........Ignored
Disliked...Longer term trades work with trending pairs (obviously) which are backed with strong fundamentals in the intended direction. I haven't looked at the E/U chart in weeks bc both currencies suck IMO. Now a chart like the Usd/Chf would be able to give you compounded results w/ expotential profits which should overcome any losses incured in the process.Ignored
DislikedNever ever under-estimate the power of compounding.
I am in a venture of multiplying my account 5,000 times in 5 years. Have all the logic how it will happen. The most optimistic return is 100,000 times. Challange me, and I will give you all the details................. and I am not drunk but a CPA.Ignored
DislikedIf you're consistent in your trading, then...
Assuming there are roughly 250 trading days in a year (5*52 - 9 or so holidays) and therefore 1250 trading days in five years we get the following:
http://www3.wolframalpha.com/Calcula...s=30&w=66&h=23 = 1.006837 --> 0.0683% per day
http://www3.wolframalpha.com/Calcula...s=28&w=76&h=23 = 1.0073954 --> 0.0739% per day
OR 5*12 months = 60 months
http://www3.wolframalpha.com/Calcula...&s=4&w=54&h=24...Ignored
DislikedBug,
Thanks for letting everyone know how to calculate their figures.
I used the attached excel worksheet. Maybe this also helps.
My calculation compounds monthly for the sake of simplicity, one can also compound daily or weekly.Ignored
DislikedI'm don't want to rain on your parade, but I really have to give you guys a heads up.
You guys did a great job in calculating the compounded sum. All the math are perfect.... BUT.... the results are all flawed.Ignored
DislikedI'm don't want to rain on your parade, but I really have to give you guys a heads up.
You guys did a great job in calculating the compounded sum. All the math are perfect.... BUT.... the results are all flawed.
I've never seen anyone posted and overlooked the problem. For the simple fact that you guys never took into account the lots size. All your calculation for the targeted timeframe in achieving X numbers of money in X numbers of time are flawed.
I really have no time and energy to explain it all,...Ignored
DislikedFunny you bring this up. Shortly after I turned a friend of mine on to trading, he cracked open an MT4 after getting stoned. He called me up and told me that he was certain that there was a "divine" order to the charts. Keeping in mind that this is probably one of the most scholastically inclined people I have ever known, I was intrigued to say the least. When I asked him to explain further, he couldn't exactly put it into words. I have yet to have him produce a workable strategy around his "findings"... but it definitely got me thinking.
I'm...Ignored
DislikedHmmmm.....interesting. I am fully convinced that in order to trade well you have to think outside the box. It is interesting how drugs help you do this. There are all sorts of ancient cultures that relied on drugs to think outside the box or to see things differently. In a freakish kinda way my most astounding discoveries about the market came after crippling losses. Over time, I felt like it was the FX gods toying with me by giving me just enough to justify moving forward AGAIN. It may have something to do with brain chemistry. For me, a major...Ignored
DislikedHmmmm.....interesting. I am fully convinced that in order to trade well you have to think outside the box. It is interesting how drugs help you do this. There are all sorts of ancient cultures that relied on drugs to think outside the box or to see things differently. In a freakish kinda way my most astounding discoveries about the market came after crippling losses. Over time, I felt like it was the FX gods toying with me by giving me just enough to justify moving forward AGAIN. It may have something to do with brain chemistry. For me, a...Ignored
DislikedThere is no such thing as a secret or holy grail in the FOREX! like in everything, it is experience that will make u successful, the more u study the market and practice it; the more u will understand it. All the systems and indicators will do nothing but blow your account if you dont really understand the market. However, if u understand the market, indicators and a system of trading are a great help.Ignored
DislikedI totally, totally and totally disagree with this statement. Don't take it personally, but I know because have ties with one such cultures that has been wrongly accused of such practice. http://en.wikipedia.org/wiki/Assassins. A historic baseless political statement should not misguide generations that followed and yet to come. ANYTHING THAT HAMPERS HUMAN BRAIN'S CAPACITY TO PERFORM AT OPTIMUM CAN NEVER BE GOOD. AVOID THOSE SUBSTANCES. This is what we believed at that time, still do and will continue to do.Ignored
DislikedI would like to point out that my previous post was not a reccomendation to use any illicit substances. Not only as they may be illegal in your area but because the harm out weighs the benifit of taking them.
Ask yourself do you still take drugs now and do the reasons why you started in the first place have any significance in your life today?
I wouldnt risk my life by driving under the influence of drugs or alcohol,so why are people risking their money trading under the influence of an illicit substance?
Its a business, not a game.Ignored
DislikedAre you kidding? For once we have a mature discussion thread where there are no bickering happening (so far) and who has a bigger penis.Ignored