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  • #1,212,661
  • Mar 24, 2022 12:01pm Mar 24, 2022 12:01pm
Quoting Js3mwtRc
To trade succesfully on a short timeframe and in a daily basis you need to know that in the long term your system will fail...
Every system deals with failure. But failure doesn't necessarily make the system a failure.
Learn from your mistakes and march on.
  • #1,212,662
  • Edited 12:13pm Mar 24, 2022 12:02pm | Edited 12:13pm
Quoting ForexGoose
I have said many times that 10 pips is all you need!
and how many trades do you lose to earn only 10 pips by scalping? why not place one or a few trades and earn 100+ pips instead?
I lose essentially no trades. I set SL at 1% of my starting balance, so it is so far away that it is nearly impossible to hit SL before reaching 10 pips.

After I reach a certain level of profit, I then risk ONLY a portion of the profit. My initial stake is then always protected.

Anyway, I don't mind the slow and steady approach, because I am not a full-time, professional trader trying to make a living from trading. I have many other interests that keep me busy.
To free Gazans of Hamas, use whatever it takes.
  • #1,212,663
  • Mar 24, 2022 12:16pm Mar 24, 2022 12:16pm
Quoting DrDave
{quote} I lose essentially no trades. I set SL at 1% of my starting balance, so it is so far away that it is nearly impossible to hit SL before reaching 10 pips...
But you will lose a trade at some point. And it could turn ugly fast, erasing profits from many winners! I would never risk this much for 10 pips.
Learn from your mistakes and march on.
  • #1,212,664
  • Mar 24, 2022 12:20pm Mar 24, 2022 12:20pm
Quoting here2there
{quote} Every system deals with failure. But failure doesn't necessarily make the system a failure.
Well said. Every system developer should know that and add to the disanvantages of its startegy.

The first light in the tunnel when I was new trader was that if, I turn my losses into profit then, I will be a winner but failed, because of spread and fees and for years then I tried to beat the market by doing wrong and going against the trend, only when I opened my eyes after some years later I realized that you can't beat the market by picking tops and bottoms against the bigger trend and then, my theories about using systems and strategies started getting better.

New traders should know that and listen to more experienced traders, or they will make mistakes like I did.

The only good thing going against is that by practicing I developed skills which now I can use to make money in the right direction, but demo is better for that.
Looking for profitable short term trades ...|
  • #1,212,665
  • Mar 24, 2022 12:25pm Mar 24, 2022 12:25pm
Quoting Nordling
{quote} What calling out on my bs you mean? EU is goind down and i have shouted "sell" for weeks Are you that blind? Shut up and put a TE or stop saying that you are a good trader
Back in January Techanalyst was calling for 1.10 and people were laughing. People have no understanding of fundamentals combined with liquidity that they end up getting liquidated wondering WTF happened.

Makes me think back to February 10th. Large bull candle suckering buyers in. Tech was telling people to cash out because it was clearly a stop hunt/liquidity grab, and people were laughing at him. Look on the chart and you'll see what happened next. I made a note at the time to take a snapshot. Look at the next post, it'll tell you everything you need to know.

And people wonder why we considered Tech to be a valuable asset to the community.

My outlook is below as well.
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  • #1,212,666
  • Mar 24, 2022 12:27pm Mar 24, 2022 12:27pm
Quoting here2there
{quote} But you will lose a trade at some point. And it could turn ugly fast, erasing profits from many winners! I would never risk this much for 10 pips.
I have been doing this for almost 3 years now with no "ugly" events.

But even if I had a loss that resulted in "erasing profits from many winners", as I said, I risk ONLY a portion of my profits. So I am not concerned about that loss.
To free Gazans of Hamas, use whatever it takes.
  • #1,212,667
  • Mar 24, 2022 12:27pm Mar 24, 2022 12:27pm
Quoting Windstrown
{quote} Lets go back to the beggining where my first call on you was to stop spouting crap misleading people ok? shout short all you want just dont go wrongly analise the situation. I dont see anything bad in you keeping a longtime position opened low laverage being a swing trader. My point is and always was. Do not say bs missleading traders like " oh fed was dovish thats why it went up" rofl. If you dont understand it is one thing. But missleading others was what i called you out for. You keep saying you...
Well it is bs for you and your words are bs for me. How are we going to decide which accusation is right?

In my defense, FED was less hawkish than expected, which means it falls into the dovish category. And price surged against the dollar that day, which makes sense.

In your defense, FED was hawkish then why did the price surge against the dollar? It doesn't make any sense.

You say 0.25 rate hike was dovish bla bla, then why did the price spiked up but rejected and went down instantly just after the monetery policy report is released? Why did the real movement started during the press conference? Your explanation doesn't make sense at all and misleading.

Neutral (aligns with consensus) by the decision, dovish by the press conference was the case for the last FED, BOE and ECB meetings. And you can confirm that by looking at the price action during the monetary policy reports and the press conferences.

And look in the end my bias are proven to be right, EU short. So no misleading trade ideas from a long term position trader perspective. Everyone here knows that i am not a scalper. And as an economics student and as someone who gave years to macroeconomics i am not going to learn fundamentals from an online scalper who did not even attached a TE.

All i share is for free, i don't sell signals, books or something. I am just a member who is sharing his opinion. It is up to people to listen to me or not. I am not asking or forcing them to listen to me. I think you have anger issues or serious problems in your daily life so you come here to lash out.

Anyways i will keep sharing my opinions, no matter how much you bray or bark. You can write that down in your diary while crying.
You have to have an IQ higher than 90 to interact with this user.
  • #1,212,668
  • Mar 24, 2022 12:29pm Mar 24, 2022 12:29pm
Quoting fxpipper
{quote} Back in January Techanalyst was calling for 1.10 and people were laughing. People have no understanding of fundamentals combined with liquidity that they end up getting liquidated wondering WTF happened. Makes me think back to February 10th. Large bull candle suckering buyers in. Tech was telling people to cash out because it was clearly a stop hunt/liquidity grab, and people were laughing at him. Look on the chart and you'll see what happened next. I made a note at the time to take a snapshot. Look at the next post, it'll tell you everything...
Ahaha Tech is a legend
You have to have an IQ higher than 90 to interact with this user.
  • #1,212,669
  • Mar 24, 2022 12:34pm Mar 24, 2022 12:34pm
Quoting Js3mwtRc
{quote} Well said. Every system developer should know that and add to the disanvantages of its startegy. The first light in the tunnel when I was new trader was that if, I turn my losses into profit then, I will be a winner but failed, because of spread and fees and for years then I tried to beat the market by doing wrong and going against the trend, only when I opened my eyes after some years later I realized that you can't beat the market by picking tops and bottoms against the bigger trend and then, my theories about using systems and...
I agree with everything you said except the demo part. I am of the opinion that it is better to trade the smallest lot size allowed by your broker than to trade demo, because psychology plays a critical role in the success of a trader. When you have nothing to lose, it makes trading easy. But where one has to deal with fear and greed, there is no 'easy' in trading. Trading is hard work, not physically, but psychologically.
Learn from your mistakes and march on.
  • #1,212,670
  • Mar 24, 2022 12:47pm Mar 24, 2022 12:47pm
Quoting fxpipper
{quote} Back in January Techanalyst was calling for 1.10 and people were laughing. People have no understanding of fundamentals combined with liquidity that they end up getting liquidated wondering WTF happened. Makes me think back to February 10th. Large bull candle suckering buyers in. Tech was telling people to cash out because it was clearly a stop hunt/liquidity grab, and people were laughing at him. Look on the chart and you'll see what happened next. I made a note at the time to take a snapshot. Look at the next post, it'll tell you everything...
Techanalyst has had his share of bad calls. That being said, Techanalyst is a good trader, but his attitude in here sucked. The way he treated people who disagreed with him was abhorrent. And he paid a price for it by getting his membership revoked.

Had he treated others with respect, he would still be here.
Learn from your mistakes and march on.
  • #1,212,671
  • Mar 24, 2022 12:49pm Mar 24, 2022 12:49pm
Quoting here2there
{quote} I agree with everything you said except the demo part. I am of the opinion that it is better to trade the smallest lot size allowed by your broker than to trade demo, because psychology plays a critical role in the success of a trader. When you have nothing to lose, it makes trading easy. But where one has to deal with fear and greed, there is no 'easy' in trading. Trading is hard work, not physically, but psychologically.
I meant that taking trades on the wrong side costs more than in the right and that is not good for the pocket.

I will better leave that on the traders discretion so problem solved.
Looking for profitable short term trades ...|
  • #1,212,672
  • Edited 1:26pm Mar 24, 2022 1:02pm | Edited 1:26pm
Quoting fxpipper
{quote} Back in January Techanalyst was calling for 1.10 and people were laughing. People have no understanding of fundamentals combined with liquidity that they end up getting liquidated wondering WTF happened. Makes me think back to February 10th. Large bull candle suckering buyers in. Tech was telling people to cash out because it was clearly a stop hunt/liquidity grab, and people were laughing at him. Look on the chart and you'll see what happened next. I made a note at the time to take a snapshot. Look at the next post, it'll tell you everything...
do me a favour ,he lost 15% on his account over that time
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #1,212,673
  • Mar 24, 2022 1:05pm Mar 24, 2022 1:05pm
Quoting here2there
{quote} I agree with everything you said except the demo part. I am of the opinion that it is better to trade the smallest lot size allowed by your broker than to trade demo, because psychology plays a critical role in the success of a trader. When you have nothing to lose, it makes trading easy. But where one has to deal with fear and greed, there is no 'easy' in trading. Trading is hard work, not physically, but psychologically.
For someone that is first starting to place trades on a chosen platform, I think that it is important to begin with a demo account in order to become familiar with all of the controls that are going to be used related to placing and closing trades. But as soon as he becomes comfortable with the mechanics of that platform, he should indeed move to a live account.
To free Gazans of Hamas, use whatever it takes.
  • #1,212,674
  • Mar 24, 2022 1:09pm Mar 24, 2022 1:09pm
Quoting Bones
{quote} do me a favour ,he lost 15% on his account over that time {image}
Is that 15% loss an acceptable part of part of his trading plan/money management? That is for him to decide.

If it is not, then it is time to make some adjustments in order to have the results within the limits of the acceptance criteria.
To free Gazans of Hamas, use whatever it takes.
  • #1,212,675
  • Mar 24, 2022 1:09pm Mar 24, 2022 1:09pm
this place is 100% better without that multi account professional in the room
a lot of newbies were taken in by high level bull ,no history posters loved him
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #1,212,676
  • Mar 24, 2022 1:10pm Mar 24, 2022 1:10pm
Quoting Windstrown
{quote} Lets go back to the beggining where my first call on you was to stop spouting crap misleading people ok? shout short all you want just dont go wrongly analise the situation. I dont see anything bad in you keeping a longtime position opened low laverage being a swing trader. My point is and always was. Do not say bs missleading traders like " oh fed was dovish thats why it went up" rofl. If you dont understand it is one thing. But missleading others was what i called you out for. You keep saying you...
If I were misled, I would not be ending this week in the green Nordling is rather consistent in sharing his fundamental perspective and I happen to learn a lot from it.

You should focus on trading instead of getting mad at what you interpret as "misleading" advice. If it's misleading, then its the trader's fault for allowing himself to be led into the red, right? Just move on, mate.
Trying my best.
  • #1,212,677
  • Mar 24, 2022 1:14pm Mar 24, 2022 1:14pm
Quoting DrDave
{quote} For someone that is first starting to place trades on a chosen platform, I think that it is important to begin with a demo account in order to become familiar with all of the controls that are going to be used related to placing and closing trades. But as soon as he becomes comfortable with the mechanics of that platform, he should indeed move to a live account.
Good point.
Learn from your mistakes and march on.
  • #1,212,678
  • Mar 24, 2022 1:16pm Mar 24, 2022 1:16pm
Quoting DrDave
{quote} Is that 15% loss an acceptable part of part of his trading plan/money management? That is for him to decide. If it is not, then it is time to make some adjustments in order to have the results within the limits of the acceptance criteria.
no idea he had no plan imo
when questioned he had 5 other accounts of equal size in the background (the others were doing great !!! )he made a huge issue about being a real trader
fact is, in just over a month that was really bad
considering he was micro trading ,
we talk thousands of pips
if you want to trade professionally they only allow 10% max drawdown ever
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #1,212,679
  • Mar 24, 2022 1:17pm Mar 24, 2022 1:17pm
Quoting moondoggie
{quote} If I were misled, I would not be ending this week in the green Nordling is rather consistent in sharing his fundamental perspective and I happen to learn a lot from it. You should focus on trading instead of getting mad at what you interpret as "misleading" advice. If it's misleading, then its the trader's fault for allowing himself to be led into the red, right? Just move on, mate.
jesus team bs is being formed here
  • #1,212,680
  • Mar 24, 2022 1:26pm Mar 24, 2022 1:26pm
OMG, Techanalyst drama is not over. LOL
Risk Management is of utmost importance!
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