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  • #1,124,781
  • Jul 25, 2017 3:31am Jul 25, 2017 3:31am
Quoting Redeflect
{quote} -Shrug- 2 pairs. I just started trading every pair. So far it's working quite well; I don't have to be quite so patient.
Yea but there are some pairs that won't work with your top 3 strategies so what do you do?
First it will lead to way too many windows open, then more time analyzing, higher risk, LOWER RETURN

Trust me or don't but trading every single pair on your platform would fuck up your equity curve, I just imagine you taking trades on NZDJPY or EurHuf(Euro Hungarian Forint) ain't that a clear bonus you giving the market makers and your broker.
Read in between the price!!!
  • #1,124,782
  • Jul 25, 2017 3:35am Jul 25, 2017 3:35am
Quoting Don96
Wtf was that 20 pip candle
the news...also they went to pick up some stops (me think)
trading is simple but is simple is not easy.
  • #1,124,783
  • Jul 25, 2017 3:40am Jul 25, 2017 3:40am
Quoting yanitsa
{quote} Stopped out . That was nasty move by City Guys ! LOL
Slim chance to get my money back today .
Will have a look again during NY .
Gotta go now
  • #1,124,784
  • Jul 25, 2017 3:42am Jul 25, 2017 3:42am
Quoting Redeflect
{quote} FXViper only nets around 10-20% a month(although he manages MAMMs so I'm unsure of his slippage and lag-time). He usually doesn't lose money so he's better than most but he isn't particularly impressive. Anyone can do that by focusing on one pair and with a little understanding of fundamentals and market experience. 10-20% a week is what's achievable as a retail trader. He has the benefit of managing other people's funds so he can focus on the market without having to work another job or really concern himself with how high his returns are;...
The crazy thing is that he doesn't use a stop loss I read on the reviews and it had me thinking. Realistically if you trade a stable volatile currency you don't need to use a stop loss like for example with the euro you don't really need to as it is very stable and will always go back up at some point. You can only do that by trading 1% of your account so when you have millions under management trading £100 per point sounds very lucrative.

I suggest everyone watch the video because I have taken his techniques and applied them to my trading. He trades both technical and fundamentals. I purely do fundamentals so I only trade on sentiment and news releases.
  • #1,124,785
  • Edited 4:09am Jul 25, 2017 3:48am | Edited 4:09am
Quoting calebfx
{quote} Yea but there are some pairs that won't work with your top 3 strategies so what do you do? First it will lead to way too many windows open, then more time analyzing, higher risk, LOWER RETURN Trust me or don't but trading every single pair on your platform would fuck up your equity curve, I just imagine you taking trades on NZDJPY or EurHuf(Euro Hungarian Forint) ain't that a clear bonus you giving the market makers and your broker.
Get a top 4th strategy :-D. I enjoy analyzing. As for higher risk and lower return... not exactly. The risk is low because the trades are smaller so there's more than enough that becomes available as other trades get freed up to recover any lost trade. The return isn't really any lower because the time spent in the trades is greater. If anything the return is greater in relation to the risk because I'm not getting screwed out on bad trades. If the currency takes a nose-dive then that's great; it just means it's now in an even better position for me than it was originally and where as I normally would've lost a huge chunk on the trade; instead I only took a small hit.

I profited off of both NZD/JPY and EUR/HUF yesterday. They're slow movers but that's the point. Place the trade and let it go nowhere for a day while trading elsewhere. It'll either move in my favor or far enough out of the way that it's worth going with more. I've actually been experiencing far smaller drawdowns than I was before. I've been profiting as usual and am currently down to about 15 pairs with nice positions on every one of them. What happens if RB's decide to make EUR/USD fly in either direction right now? Not much will happen to me. They'd have to make the entire market swing across the board.
"The fun is in the hunt. Not the kill."
  • #1,124,786
  • Edited 4:05am Jul 25, 2017 3:55am | Edited 4:05am
Quoting Samson85
{quote} The crazy thing is that he doesn't use a stop loss I read on the reviews and it had me thinking. Realistically if you trade a stable volatile currency you don't need to use a stop loss like for example with the euro you don't really need to as it is very stable and will always go back up at some point. You can only do that by trading 1% of your account so when you have millions under management trading 100 per point sounds very lucrative. I suggest everyone watch the video because I have taken his techniques and applied them to my trading....

You haven't been here I guess to watch this pair rocket up 10% practically nonstop for 3 months. Any short seller at the beginning is either in excruciating pain right now or dead. To say it will always go back up at some point is incorrect. With the method he uses (and if you're right) then you don't really need a stoploss... but that's only because a stop-loss is irrelevant if you're right.

The problem isn't with using a stoploss. It's how you set it. I use stops and trailing-stops both to enter and exit my trades most of the time.
"The fun is in the hunt. Not the kill."
  • #1,124,787
  • Jul 25, 2017 4:03am Jul 25, 2017 4:03am
Quoting Redeflect
{quote} You haven't been here I guess to watch this pair rocket up 10% practically nonstop for 3 months. Any short seller at the beginning is either in excruciating pain right now or dead. To say it will always go back up at some point is incorrect. With the method he uses (and if you're right) then you don't really need a stoploss... but that's only because a stop-loss is irrelevant if you're right.
Most likely on life support now haha, some have shorts from 1.12 mate as for your explanation on trading any and every pair I say if it works for you then keep at it mate.
Read in between the price!!!
  • #1,124,788
  • Jul 25, 2017 4:10am Jul 25, 2017 4:10am
Quoting Redeflect
{quote} You haven't been here I guess to watch this pair rocket up 10% practically nonstop for 3 months. Any short seller at the beginning is either in excruciating pain right now or dead. To say it will always go back up at some point is incorrect. With the method he uses (and if you're right) then you don't really need a stoploss... but that's only because a stop-loss is irrelevant if you're right. The problem isn't with using a stoploss. It's how you set it. I use stops and trailing-stops both to enter and exit my trades most of the time.
I agree with you. Based on the last 3 months I think stop losses can somewhat be neglected for the euro as long as you're trading 1% of your account. Now if you're super aggressive then a stop loss of course is needed. For example not using a stop loss when trading the pound would be insane.
  • #1,124,789
  • Jul 25, 2017 4:17am Jul 25, 2017 4:17am
Quoting Samson85
{quote} I agree with you. Based on the last 3 months I think stop losses can somewhat be neglected for the euro as long as you're trading 1% of your account. Now if you're super aggressive then a stop loss of course is needed. For example not using a stop loss when trading the pound would be insane.
Trading the pound without a stoploss isn't really any more insane than trading any other pair. People just like the pound because the spread is low in relation to the movements. If you're sizing your trades to the currency's volatility then it's all the same. 10 lots on EUR/USD might as well be 2 lots on GBP/USD. That's generally why the margin on the pound is lower.

Some people hate ZAR/JPY but I personally love it. The spread is massive and the movements are tiny(often only 2-3x the size of the spread in an entire day) but the lots are cheap(1/5th the cost of EUR/USD). So, for all intents and purposes, It's like trading EUR/USD with a 20pip spread but better returns once you break out of the spread. It just means you're often stuck in the trade longer than with most pairs and have a much smaller exit window but it all balances out in the end.
"The fun is in the hunt. Not the kill."
  • #1,124,790
  • Jul 25, 2017 4:23am Jul 25, 2017 4:23am
Quoting Redeflect
{quote} Trading the pound without a stoploss isn't really any more insane than trading any other pair. People just like the pound because the spread is low in relation to the movements. If you're sizing your trades to the currency's volatility then it's all the same. 10 lots on EUR/USD might as well be 2 lots on GBP/USD. That's generally why the margin on the pound is lower.
LOOOOOOL that is a silly statement. The £ is the scariest pair right now to trade without a stop. Theresa may position is uncertain and all this brexit talk. Also CPI data was flat. There will likely be another election soon as well which will create uncertainty as Jeremey Corbyn looks in prime position.
  • #1,124,791
  • Jul 25, 2017 4:26am Jul 25, 2017 4:26am
Quoting falcon72202
{quote} trader don, are you complaining or happy you are with that 20pip candle?
It a topped out two of my positions but I got a higher entry for short at 1.1662
  • #1,124,792
  • Jul 25, 2017 4:29am Jul 25, 2017 4:29am
Quoting Samson85
{quote} LOOOOOOL that is a silly statement. The is the scariest pair right now to trade without a stop. Theresa may position is uncertain and all this brexit talk. Also CPI data was flat. There will likely be another election soon as well which will create uncertainty as Jeremey Corbyn looks in prime position.

It's only scary if you're trying to predict the future. Fundamentally; sure, it's an uncertain situation. Technically; it's all the same.

A strictly fundamental trader relies on knowing what the future holds. A strictly technical trader doesn't care. I consider it the same comparison between Classical Mechanics and Quantum Mechanics. One tries to predict what's certain and the other embraces uncertainty. Guess which one's never wrong?
"The fun is in the hunt. Not the kill."
  • #1,124,793
  • Jul 25, 2017 4:31am Jul 25, 2017 4:31am
Quoting Don96
{quote} It a topped out two of my positions but I got a higher entry for short at 1.1662
Today Important German News reported in Reuters

I'm Flat. This posting I use Smartphone.
Tired watching Euro moved like ROCK & ROLL.
I take for a Rest Now ...

Take Care
Always looking the GREAT, never left GOOD Point...
  • #1,124,794
  • Jul 25, 2017 4:37am Jul 25, 2017 4:37am
Quoting Redeflect
{quote} It's only scary if you're trying to predict the future. Fundamentally; sure, it's an uncertain situation. Technically; it's all the same. A strictly fundamental trader relies on knowing what the future holds. A strictly technical trader doesn't care. I consider it the same comparison between Classical Mechanics and Quantum Mechanics. One tries to predict what's certain and the other embraces uncertainty. Guess which one's never wrong?
Correct because when you're doing technical for sure you have to use 1% of account to trade with as well as a 150 point stop loss which should protect you.
  • #1,124,795
  • Jul 25, 2017 4:40am Jul 25, 2017 4:40am
Quoting Samson85
{quote} Correct because when you're doing technical for sure you have to use 1% of account to trade with as well as a 150 point stop loss which should protect you.
-Shrug- I've often traded pure technicals with 90% of the account and no stop-loss. You just have to be very precise . And patient... definitely patient.
"The fun is in the hunt. Not the kill."
  • #1,124,796
  • Jul 25, 2017 4:44am Jul 25, 2017 4:44am
Quoting Samson85
{quote} The crazy thing is that he doesn't use a stop loss I read on the reviews and it had me thinking. Realistically if you trade a stable volatile currency you don't need to use a stop loss like for example with the euro you don't really need to as it is very stable and will always go back up at some point. You can only do that by trading 1% of your account so when you have millions under management trading 100 per point sounds very lucrative. I suggest everyone watch the video because I have taken his techniques and applied them to my trading....
It's fine not to use a stop if you are sitting watching your chart. If you have a mental stop in mind and can keep to it or if the market decides to reverse on you then you can decide to take the trade out. However walking away from your trade without a stop in place is very dangerous. If market makes a sudden moves against you and your not there your up that creek big time.
  • #1,124,797
  • Jul 25, 2017 5:14am Jul 25, 2017 5:14am
Quoting Redeflect
{quote} -Shrug- I've often traded pure technicals with 90% of the account and no stop-loss. You just have to be very precise . And patient... definitely patient.
Loooool your crazy!! I thought NotATrader was aggressive but if you're doing 90% that is insane. I hope you got a batch of anxiety pills near the pc
  • #1,124,798
  • Jul 25, 2017 5:19am Jul 25, 2017 5:19am
Quoting Tsar
{quote} Started Monday Yesterday, many Pitfalls for the Price of Euro moved It better be Careful and flexible to take Profit Try to Read : Platform alternatives to Metatrader cTrader & cAlgo - The New Standards in FX Trading Platform Maybe... you will got New Experience

Thanks for the heads up. I will probably stay with the MT4 platform since it has seemed to work well for the most part with the type of trading style I do. It allows me not to deal with the fundamentals of the market so much and just rely on technicals. The upside is that it's simple and I don't have to be in front of the computer all the time. The downside is that I my positions could be better if I used fundamentals and more sophisticated indicators.

Once I get into a zero stop or small take profit stop loss, I'll set my take profit stop and just walk away. I'll either stop out or achieve my profit goals. Either way I don't have to be on top of it constantly.

The edgy part is when I'm in the danger zone as I am now. I won't be in my comfort zone until I set a stop loss which probably won't happen till next week sometime.
Taigen Profit This Month: na
  • #1,124,799
  • Jul 25, 2017 5:20am Jul 25, 2017 5:20am
seems like 1.1615/20 could be some short term support, wouldn't be surprised we take a look at it...
Look Sharp/Trade Tight
  • #1,124,800
  • Jul 25, 2017 5:26am Jul 25, 2017 5:26am
Quoting Samson85
{quote} Loooool your crazy!! I thought NotATrader was aggressive but if you're doing 90% that is insane. I hope you got a batch of anxiety pills near the pc
there is another way of doing it

keep 2 accounts a trading and a collecting

keep the balance low in trading account, your balance is the max risk, trade like pants on fire lol
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