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  • #1,163,281
  • Mar 1, 2020 6:39pm Mar 1, 2020 6:39pm
By the way, I have four short positions open without a stop loss.

Do you think I am crazy for not caring about a pesky little stop loss?

I don't care. And I don't need to care. I've overcome that fear.

That's not to say I don't ever use a stop loss. Sometimes it makes sense to use one. But most of the time it doesn't, because I know how to turn my losers into winners.
Learn from your mistakes and march on.
  • #1,163,282
  • Mar 1, 2020 6:49pm Mar 1, 2020 6:49pm
Quoting here2there
By the way, I have four short positions open without a stop loss. Do you think I am crazy for not caring about a pesky little stop loss?
Every trade has a stop loss, either manual or margin call. It just depends on the leverage.

If your total leverage is below 1:10, you will be fine...if 1:20, you might be in trouble...if more, well, that depends...

But I am convinced we will see 1.16 this year. I might be wrong, of course.
Everyone can see the chart, but only a few can actually read it.
  • #1,163,283
  • Mar 1, 2020 6:52pm Mar 1, 2020 6:52pm
Quoting OnlineAddict
{quote} Every trade has a stop loss, either manual or margin call. It just depends on the leverage.
I assure you, I won't suffer a margin call. My account is large enough and my usage of leverage is conservative enough to not have to be concerned about such things.

Moreover, I enter trades at high probability turning points, which means even if a trade goes against me, because of where I entered, I can eventually break even on my losers and still come out ahead as a result of placing other trades above or below the losers.

I would never advise anyone new to trading to trade without a stop loss. My system is complex, and you have to know what you are doing to use it.
Learn from your mistakes and march on.
  • #1,163,284
  • Mar 1, 2020 7:00pm Mar 1, 2020 7:00pm
Quoting here2there
My account is large enough
But this has nothing to do with it, it doesn't matter if the account has $100 or $1,000,000 in it, same leverage makes risk the same, too.

But I am sure you know what you are doing, its just the math guy inside me talking, ignore it.
Everyone can see the chart, but only a few can actually read it.
  • #1,163,285
  • Mar 1, 2020 7:04pm Mar 1, 2020 7:04pm
Quoting OnlineAddict
{quote} But I am convinced we will see 1.16 this year. I might be wrong, of course.
I do not doubt that possibility.

Keep in mind there is a massive amount of sell orders waiting around 1.1425. So there is a strong expectation for much higher prices.
Learn from your mistakes and march on.
  • #1,163,286
  • Mar 1, 2020 7:06pm Mar 1, 2020 7:06pm
Quoting OnlineAddict
{quote} But this has nothing to do with it, it doesn't matter if the account has $100 or $1,000,000 in it, same leverage makes risk the same, too. But I am sure you know what you are doing, its just the math guy inside me talking, ignore it.
You left out the second part of what I said.

Here it is again: My account is large enough and my usage of leverage is conservative enough to not have to be concerned about such things.

But I get your point.
Learn from your mistakes and march on.
  • #1,163,287
  • Mar 1, 2020 7:15pm Mar 1, 2020 7:15pm
Quoting here2there
{quote} You left out the second part of what I said.
Yeah, I did, because leverage is leverage, the size of the account is irrelevant, 1:10 leverage will always mean that 900-1000 pips wipe out the account, depending on the broker's settings. But you know that, of course, and we spammed this thread enough, so time to end this discussion, I think.
Everyone can see the chart, but only a few can actually read it.
  • #1,163,288
  • Mar 1, 2020 7:23pm Mar 1, 2020 7:23pm
Quoting PatienceFx
i cannot short this setup the levels are dynamic and change with every bar on that time frame, so i get to visualize multiple time frames in one hart and trade accordingly {image}
Nobody listened to me
  • #1,163,289
  • Mar 1, 2020 7:24pm Mar 1, 2020 7:24pm
Quoting OnlineAddict
{quote} Yeah, I did, because leverage is leverage, the size of the account is irrelevant, 1:10 leverage will always mean that 900-1000 pips wipe out the account, depending on the broker's settings. But you know that, of course, and we spammed this thread enough, so time to end this discussion, I think.
I don't consider it spamming the thread. It's a good discussion.

But yes, it's time to end it.
Learn from your mistakes and march on.
  • #1,163,290
  • Mar 1, 2020 7:33pm Mar 1, 2020 7:33pm
Quoting PatienceFx
{quote} Nobody listened to me
I DID
  • #1,163,291
  • Mar 1, 2020 7:38pm Mar 1, 2020 7:38pm
There’s my failure to rotate to a higher high.
Small short placed and if we consolidate under 1050 I’ll consider loading up.
  • #1,163,292
  • Mar 1, 2020 7:51pm Mar 1, 2020 7:51pm
No sign of dropping.. but also too risk to add long.. better sideline..
  • #1,163,293
  • Mar 1, 2020 7:55pm Mar 1, 2020 7:55pm
Quoting tupat
No sign of dropping.. but also too risk to add long.. better sideline..
Follow macd to price divergence it always gives the best trade
  • #1,163,294
  • Mar 1, 2020 7:59pm Mar 1, 2020 7:59pm
Quoting PatienceFx
{quote} Follow macd to price divergence it always gives the best trade
The weekly divergence can be taken as a guide

Look back in history
  • #1,163,295
  • Mar 1, 2020 8:05pm Mar 1, 2020 8:05pm
  •  dmj120
  • | Joined Jan 2020 | Status: Newbie with professional aspiration | 108 Posts
Quoting PatienceFx
{quote} Follow macd to price divergence it always gives the best trade
Then you're bullish? From macd, looks like 1h to daily are all bullish.
School of hard knocks
dmj120 Return This Year: na
  • #1,163,296
  • Mar 1, 2020 8:07pm Mar 1, 2020 8:07pm
And don't bother if you have open shorts as long as at 1:1 your margin used does not exceed 1% of balance and you are earning positive swaps
  • #1,163,297
  • Mar 1, 2020 8:11pm Mar 1, 2020 8:11pm
Quoting dmj120
{quote} Then you're bullish? From macd, looks like 1h to daily are all bullish.
Its 7:40 am IST on a Monday morning, till London open I am enjoying my weekend lol
  • #1,163,298
  • Mar 1, 2020 8:17pm Mar 1, 2020 8:17pm
Right now h4 14 sma is your lifeguard bullish or bearish
  • #1,163,299
  • Mar 1, 2020 10:04pm Mar 1, 2020 10:04pm
9:30 am, a very good morning to everyone

waiting for PMI numbers to guide me - strong PMI = strong eur

also PMI will guide how much this virus has affected production in eurozone
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  • #1,163,300
  • Mar 1, 2020 10:11pm Mar 1, 2020 10:11pm
chinese factory PMI badly hurt
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