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  • #1,187,021
  • Nov 6, 2020 10:51am Nov 6, 2020 10:51am
Quoting bigiivan
{quote} Sell EU at 18,0000000000 without SL and TP.

Still holding these shorts from 18 ?
  • #1,187,022
  • Nov 6, 2020 11:02am Nov 6, 2020 11:02am
Quoting mistaouting
{quote} Yeah okay Professional Business Trader.
I am. Have been full time trader self employed for years. You will get there too one day. Just make sure you trade don't gamble.
  • #1,187,023
  • Nov 6, 2020 11:09am Nov 6, 2020 11:09am
Take this like, an example about trading and gamble.

Open a Weekly chart and count five weeks back with this one. If, you noticed on the last five weeks the Weekly candle closses at the opposite side - up if, a week before it closed down.
If you want to gamble your money after the Sunday open sell EURUSD and close at the end of the week. There will be three outcomes, either a win, a loss, or nothing, but the fees. You may losse many, or win many pips, but you can't say to all I am an active trader, investor, doing my analysis every day without lying about

Now do all your fundamental analysis and pick the best level/s to trade EURUSD, or any other pair and observe 12 hours price action, make aditional trades, move your stop loss, close, or trail, hedge ... you have many options how to handle your trade/s.

In roullete you can only put your money and can't get it back if, the wheel starts rolling, you will only lose or, win money and can do nothing about it and that is why I call investing active trading and not gambling game.
Looking for profitable short term trades ...|
  • #1,187,024
  • Nov 6, 2020 11:12am Nov 6, 2020 11:12am
Quoting Delta1One
{quote} Still holding these shorts from 18 ?
Yes. One from 1,1800 and one from 1,1872.
  • #1,187,025
  • Nov 6, 2020 11:13am Nov 6, 2020 11:13am
Quoting Delta1One
{quote} Still holding these shorts from 18 ?
A monkey with a darts told me to hold them.
*just kidding brother.
  • #1,187,026
  • Nov 6, 2020 11:32am Nov 6, 2020 11:32am
Quoting bigiivan
{quote} Yes. One from 1,1800 and one from 1,1872.
A bit early but i think you are right overall. Bullish scenario is at green lines, bearish at red lines. Personally, i don't see a way out for the buyers.
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  • #1,187,027
  • Nov 6, 2020 11:34am Nov 6, 2020 11:34am
Quoting Js3mwtRc
Take this like, an example about trading and gamble. Open a Weekly chart and count five weeks back with this one. If, you noticed on the last five weeks the Weekly candle closses at the opposite side - up if, a week before it closed down. If you want to gamble your money after the Sunday open sell EURUSD and close at the end of the week. There will be three outcomes, either a win, a loss, or nothing, but the fees. You may losse many, or win many pips, but you can't say to all I am an active trader, investor, doing my analysis every day without lying...

If you use advanced statistical tricks in Las Vegas, you'll get caught by security guards, and they'll make sure you don't come back any time soon.
Roll a dice 1 million times and look at the statistical distribution of the numbers you get. For sure you'll get a pattern.

Now for the strategy you just mentioned, only way to answer is to code it and do back-testing on historical data. That should be enough to see the statistical signature of the strategy on the long run.
  • #1,187,028
  • Nov 6, 2020 11:40am Nov 6, 2020 11:40am
Quoting bigiivan
{quote} Yes. One from 1,1800 and one from 1,1872.
London closed and the week-end is nearing. I think as soon enough bears close their bets, then only it will start to go south.

Actually, maybe the market is just waiting for you to close your shorts, so it can start going down
  • #1,187,029
  • Nov 6, 2020 11:46am Nov 6, 2020 11:46am
A stab to new low near 103.07 in $JY would be appealing for me and signify a top in E. and DOW. imho....
  • #1,187,030
  • Nov 6, 2020 11:47am Nov 6, 2020 11:47am
Quoting Delta1One
{quote} If you use advanced statistical tricks in Las Vegas, you'll get caught by security guards, and they'll make sure you don't come back any time soon. Roll a dice 1 million times and look at the statistical distribution of the numbers you get. For sure you'll get a pattern. Now for the strategy you just mentioned, only way to answer is to code it and do back-testing on historical data. That should be enough to see the statistical signature of the strategy on the long run.
I like stats and this is a reason I like fx. Anytime I like can gamble, or put more time.
Looking for profitable short term trades ...|
  • #1,187,031
  • Nov 6, 2020 11:54am Nov 6, 2020 11:54am
Quoting Js3mwtRc
{quote} I like stats and this is a reason I like fx. Anytime I like can gamble, or put more time.
Well, if I find some time, I'll try to code your weekly close strategy and come up with their stats.
I'm that curious.
  • #1,187,032
  • Nov 6, 2020 12:12pm Nov 6, 2020 12:12pm
Let me pitch in and try to share my point of view..

You guys are focus on the definition of Gambling and Trading, you forgot about the definition of the Market.

Is Market random? All of us agree!

Analysation before entering a trade:
Technical: It is PA dependent, sometimes right, sometimes wrong.
Sentiments: Sometimes right, sometimes wrong.
Fundamentals: Price doesn't always re-act on whatever data it tells.
Even if it did re-act the way it tells, often times, price moves before data release or way after.
Psychology: You could be right, you could be wrong.

The fact is, the moment you push the button, without assurance, certainty or a guarntee of return of investment, knowing its randomness and that you could lose this trade, and you push the button anyway... you took a gamble! Yes... you gamble at that very moment.

Now, how you manage that trade is what separates Traders to Gamblers. Traders manage risk, knows when to get out before he gets in. Calculate amount willing to risk and aware of his account and skills limitations. While Gamblers... Hope/Wish/Pray.

I hope it helps... Happy trading!
Only an idiot knows with certainty to where the market is going.
  • #1,187,033
  • Nov 6, 2020 12:18pm Nov 6, 2020 12:18pm
Quoting Delta1One
{quote} Well, if I find some time, I'll try to code your weekly close strategy and come up with their stats. I'm that curious.
Thanks, your results will be around half of the bars closing up and around half closing down, dojis are very less.
If, I remember well the bullish bars are more, but not with huge difference.
Looking for profitable short term trades ...|
  • #1,187,034
  • Nov 6, 2020 12:22pm Nov 6, 2020 12:22pm
Quoting Delta1One
{quote} London closed and the week-end is nearing. I think as soon enough bears close their bets, then only it will start to go south. Actually, maybe the market is just waiting for you to close your shorts, so it can start going down
Refused! I will hold them till I win. The swap is good.
  • #1,187,035
  • Nov 6, 2020 1:02pm Nov 6, 2020 1:02pm
Quoting bigiivan
{quote} Refused! I will hold them till I win. The swap is good.
Then you might be in for a long wait Mate.
It is all about the foreign exchange market.
  • #1,187,036
  • Nov 6, 2020 1:12pm Nov 6, 2020 1:12pm
Quoting bigiivan
{quote} Refused! I will hold them till I win. The swap is good.

Used to be good you mean. Now it's peanuts. Even on Wednesday pay day when you cash (or pay) 3 days in a row.
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Nothing compared to the below
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In normal times, I would agree that it is due a little retrace, but careful. We're not in normal time, specially over this week-end. Lot of gamblers awaiting Monday's American lottery results...
  • #1,187,037
  • Nov 6, 2020 1:21pm Nov 6, 2020 1:21pm
Quoting MrBullBear
Let me pitch in and try to share my point of view.. You guys are focus on the definition of Gambling and Trading, you forgot about the definition of the Market. Is Market random? All of us agree! Analysation before entering a trade: Technical: It is PA dependent, sometimes right, sometimes wrong. Sentiments: Sometimes right, sometimes wrong. Fundamentals: Price doesn't always re-act on whatever data it tells. Even if it did re-act the way it tells, often times, price moves before data release or way after. Psychology: You could be right,...

Gambling or trading...hmmm.

Ever heard about the "London Rig" ? You may think that the EURUSD is by far the biggest volume in the world, hence no way to trick it, right?

Well. Then read this.

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https://uk.reuters.com/article/us-fo...-idUKKCN1MK20B

The invisible hands of the market....

https://economictimes.indiatimes.com...invisible-hand

Just decide your yourself which definition you prefer to factor in for you.
  • #1,187,038
  • Nov 6, 2020 1:31pm Nov 6, 2020 1:31pm
Quoting FireLazi
{quote} SL moved. Keep holding longs.{image}
First trade is closed.
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Money Maker
  • #1,187,039
  • Nov 6, 2020 1:39pm Nov 6, 2020 1:39pm
Quoting Efelexy
{quote} Then you might be in for a long wait Mate.
Yes. Right. I might win in a short time.
  • #1,187,040
  • Nov 6, 2020 1:39pm Nov 6, 2020 1:39pm
Quoting Delta1One
{quote} Gambling or trading...hmmm. Ever heard about the "London Rig" ? You may think that the EURUSD is by far the biggest volume in the world, hence no way to trick it, right? Well. Then read this. {image} https://uk.reuters.com/article/us-fo...-idUKKCN1MK20B The invisible hands of the market.... https://economictimes.indiatimes.com...invisible-hand Just decide your yourself...
I answered that in my previous post
Only an idiot knows with certainty to where the market is going.
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