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Cable Update (GBPUSD)

  • #53,761
  • Feb 14, 2008 11:41am Feb 14, 2008 11:41am
Quoting 4x_Trader
Hi salah k as far as demo account is concerned allow me to share w/ u my demo account w/ fxsol because they are running two weeks contest I thought I have a big chance to win but when Moe posted the current leader I am shocked because my three digit gain was "no-mas" w/ the chinese here is the link:

http://fxsol.com/contest/test-drive/leader-board.html

Here is my statement free margin no position at all as of post time:
Good statement. I touch the wood
  • #53,762
  • Feb 14, 2008 11:43am Feb 14, 2008 11:43am
Quoting 4x_Trader
Hi salah k as far as demo account is concerned allow me to share w/ u my demo account w/ fxsol because they are running two weeks contest I thought I have a big chance to win but when Moe posted the current leader I am shocked because my three digit gain was "no-mas" w/ the chinese here is the link:

http://fxsol.com/contest/test-drive/leader-board.html

Here is my statement free margin no position at all as of post time:
yeah dang, also on that constest and equity 142% up.
but when saw those numbers

thats a crazy... thing!

maybe next round, we will have to trade with around 90% equity....
  • #53,763
  • Feb 14, 2008 11:44am Feb 14, 2008 11:44am
Quoting salah k.
thats easy to say but during the last months we saw that a whole new set of lows and highs were established due to the bad economy of the US so what are the lows that i hould buy at or the highs that i should sell at?

i mean cad reached parity with usd aud jumped to 0.93 pound to 2.1 e.t.c....
It changes every nanosecond

But if you can't see a trend then close your position and go out and tame the squirrels to eat peanuts out of your hand - thats what I do.
Yesterday, one of them got 'mated' by a big buck squirrel while I was feeding it - it's just like forex in some ways - if you stand still for a minute the market will do that to you
  • #53,764
  • Feb 14, 2008 11:46am Feb 14, 2008 11:46am
Quoting Abuawad
Good statement. I touch the wood
Thanks a lot my friend btw that was only a mock trading that's why if you would notice I traded it aggresively unlike with my real one same position with my demo but I traded it conservatively.....
  • #53,765
  • Feb 14, 2008 11:46am Feb 14, 2008 11:46am
Quoting allserene
It changes every nanosecond

But if you can't see a trend then close your position and go out and tame the squirrels to eat peanuts out of your hand - thats what I do.
Yesterday, one of them got 'mated' by a big buck squirrel while I was feeding it - it's just like forex in some ways - if you stand still for a minute the market will do that to you
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  • #53,766
  • Feb 14, 2008 11:49am Feb 14, 2008 11:49am
I thought I am the ace when I have started my my day with 5% gain on my scalping account. Then I have managed to wipe out the whole of it and some. Then I went mad doubled my risk and worked back the whole of it.... So yes FX can do to me some funny things. And now I am tired and exhausted like after wrestling with a 300 pound b****
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  • #53,767
  • Edited 12:02pm Feb 14, 2008 11:50am | Edited 12:02pm
GOOD ONE!!





Quoting Moe
oh shit, go short jacobtrader is here.
  • #53,768
  • Feb 14, 2008 11:53am Feb 14, 2008 11:53am
Quoting acidguy
yeah dang, also on that constest and equity 142% up.
but when saw those numbers

thats a crazy... thing!

maybe next round, we will have to trade with around 90% equity....
Correct acidguy but M just wondering how could this chinese trader deliver the 1,069% in just a matter of 1 week it only means that everytime there are big moves or shall I say strong volatility he perfectly took advantage of that wowww:
  • #53,769
  • Feb 14, 2008 11:58am Feb 14, 2008 11:58am
Whats everyones opionion of cable going into tomorrow?

Personally i am long while it holds above 1.9670. Thinking the majors looked well positioned for some interesting moves tomorrow.
  • #53,770
  • Feb 14, 2008 12:01pm Feb 14, 2008 12:01pm
Quoting 4x_Trader
Correct acidguy but M wondering how could this chinese trader deliver the 1,069% in just a matter of 1 week it only means that everytime there are big moves or shall I say strong volatility he perfectly took advantage of that wowww:

Basically the more you risk the larger the loss. What is thought. And that risk should be avoided minimised etc. I tell you straight. Those made extreme fortunes out of nothing have exceptional skills and take exceptional risks too ie go broke or go rich. and when they gone rich they do it again. go broke or go extremely rich. etc. So basically if you want to make a fortune in whatever that is, say FX, you need to take extreme risks despite what is taught constantly that is do not risk more than 2% on any one trade. Why not? If you want to double your money in a year you need to risk a bit more....

My 2 cents.
.
  • #53,771
  • Feb 14, 2008 12:02pm Feb 14, 2008 12:02pm
Quoting 4x_Trader
Correct acidguy but M just wondering how could this chinese trader deliver the 1,069% in just a matter of 1 week it only means that everytime there are big moves or shall I say strong volatility he perfectly took advantage of that wowww:
thats a bit to good to be true..i wanna see the highlights
  • #53,772
  • Feb 14, 2008 12:08pm Feb 14, 2008 12:08pm
Quoting dobbie11
I agree I have 2 shorts trades too. But have also been playing the longs for short term. My shorts are from 1.9650 & 1.9675 and I just placed another at 730 and one pending at 780. I will buy again med and long term at 1.91's med term I have a 250 SL with a 500 tp on my shorts.

exactly like me.. scary.
And your mouth dropped
  • #53,773
  • Feb 14, 2008 12:13pm Feb 14, 2008 12:13pm
Quoting bullrock
Basically the more you risk the larger the loss. What is thought. And that risk should be avoided minimised etc. I tell you straight. Those made extreme fortunes out of nothing have exceptional skills and take exceptional risks too ie go broke or go rich. and when they gone rich they do it again. go broke or go extremely rich. etc. So basically if you want to make a fortune in whatever that is, say FX, you need to take extreme risks despite what is taught constantly that is do not risk more than 2% on any one trade. Why not? If you want to double your money in a year you need to risk a bit more....

My 2 cents.
Very well said bullrock tnx amigo!
  • #53,774
  • Feb 14, 2008 12:15pm Feb 14, 2008 12:15pm
Quoting nAVIN2007
thats a bit to good to be true..i wanna see the highlights
Correct! Your guess is good as mine nAVIN2007!
  • #53,775
  • Feb 14, 2008 12:17pm Feb 14, 2008 12:17pm
Quoting bullrock
Basically the more you risk the larger the loss. What is thought. And that risk should be avoided minimised etc. I tell you straight. Those made extreme fortunes out of nothing have exceptional skills and take exceptional risks too ie go broke or go rich. and when they gone rich they do it again. go broke or go extremely rich. etc. So basically if you want to make a fortune in whatever that is, say FX, you need to take extreme risks despite what is taught constantly that is do not risk more than 2% on any one trade. Why not? If you want to double your money in a year you need to risk a bit more....

My 2 cents.
I think people who make 1,000% in a week are doing little more then just gambling. Sure if you managed to do it then great, but i wouldnt try it again!

I dont think you need to take extreme risks to become as you put it "extremely rich" in fact i think its the opposite.

You see, if you can come up with a consistant trading strategy that works, then in effect you can leverage it to any amount you please. I think its about creating something sustainable, Otherwise you are just gambling and if you get a big win then its best to stop cant keep it up forever.

I agree with you though trading in this manner will lead to becoming very rich or very poor. Depends what one is looking for. Something sustainable or temporary.
  • #53,776
  • Feb 14, 2008 12:22pm Feb 14, 2008 12:22pm
Quoting Acs_112
I think people who make 1,000% in a week are doing little more then just gambling. Sure if you managed to do it then great, but i wouldnt try it again!

I dont think you need to take extreme risks to become as you put it "extremely rich" in fact i think its the opposite.

You see, if you can come up with a consistant trading strategy that works, then in effect you can leverage it to any amount you please. I think its about creating something sustainable, Otherwise you are just gambling and if you get a big win then its best to stop cant keep it up forever.

I agree with you though trading in this manner will lead to becoming very rich or very poor. Depends what one is looking for. Something sustainable or temporary.
Sorry I was talking about the risk taken not the system. This is a totally different domain but I do agree. You cannot take large risk without consistency and discipline. Otherwise, as you said, it is gambling. I have trillions of calculations and I know for a fact that if you risk small your gains will be small no matter how disciplined you are. You have to drive with sure hands and skills if you drive fast the same applies here. By the eay what is extreme risk? If I play conservative I risk 0.5%-1% but I never exceed 5%. You are talking about leverage. Well this is a horribly diversified, rich and complex issue. But basically clever money management is needed but still you need to take CLEVER risk. I did not speak about gambling.
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  • #53,777
  • Feb 14, 2008 12:28pm Feb 14, 2008 12:28pm
comes like everything in life...huge risk gives huge rewards...all or nothing rule
  • #53,778
  • Feb 14, 2008 12:51pm Feb 14, 2008 12:51pm
Quoting nAVIN2007
comes like everything in life...huge risk gives huge rewards...all or nothing rule
unless you were born rich already.. lol then you could risk alot and still live
And your mouth dropped
  • #53,779
  • Feb 14, 2008 12:53pm Feb 14, 2008 12:53pm
AcidGuy,

Politicians, love to keep us all in the dar, of what they are doing, and what is really happening in the economies here and around the world. The US Economy is no different that all the rest. One goes and they all go into a skid.

They love to in our presence .........and and make up afterwords and then go WITH HUNGRY on our coin. Polititians are all while the Dollar Burns. This is the plan. This can't go straight up. I do see next week being a down week again. AIMO
  • #53,780
  • Feb 14, 2008 2:36pm Feb 14, 2008 2:36pm
Quoting nAVIN2007
thx for the tip...but dont u mean weekly
well I mean 38.2% of the rally from 2.1160 to 1.9335, on which ever timeframe your looking at.

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