Knowledge is Power

Quoting Warren Forex

Disliked

USD/JPY Bid 107.20

My Drawdown is now $1968.28 US Dollars and My Closed Profits on 169 FX Trades is $14,999.80 Net Halfway to my GOAL of $30,000 US by July 9, 2008

How am I doing ?

GREAT !

Please explain why no body here who committed to learn has disappeared ?

Perhaps I am just wasting my energy and time even though it is helpful to me to trade and post my thoughts here on this excellent Forex Factory Forum !!!


Bruce

Ignored

Quoting ultimate

Disliked

Bruce,
You post good information and fundamentally all you say makes sense. Here is some advice for you. You come off a tad egotistical and you pat yourself on the back too much. It truly is a turn off.

Ok so you made 14% in a couple of weeks. Good on you.
Show me a statement that spans a year, 2 years .. etc. Anybody can have a lucky streak. What matters is being in this game long term.

You haven't described your trading system. Is it only based on fundamentals? Do you enter and exit trades at certain times of the day? What risk reward ratio do you use?

Here is a book recommendation for you :
Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life

http://www.amazon.com/Fooled-Randomness-Hidden-Chance-Markets/dp/1587990717

Keep up the good work and be cool.

Ignored

Quoting ultimate

Disliked

Bruce,
You post good information and fundamentally all you say makes sense. Here is some advice for you. You come off a tad egotistical and you pat yourself on the back too much. It truly is a turn off.

Ok so you made 14% in a couple of weeks. Good on you.
Show me a statement that spans a year, 2 years .. etc. Anybody can have a lucky streak. What matters is being in this game long term.

You haven't described your trading system. Is it only based on fundamentals? Do you enter and exit trades at certain times of the day? What risk reward ratio do you use?

Here is a book recommendation for you :
Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life

http://www.amazon.com/Fooled-Randomness-Hidden-Chance-Markets/dp/1587990717

Keep up the good work and be cool.

Ignored

Quoting Two percent

Disliked

Bruce's system works as follows:

He believes that the USD JPY will at sometime go down. However he isn't exactly sure when this will happen, thus from May 25 he is telling everyone the USD JPY is going down. However Warren Forex sees the USD JPY going up, and therefore deduces that at some point it will correct and retrace.

He waits until June 9 and then opens a Demo Account not with 10 000 USD but with 100 000 USD ( which helps him to feel wealthy ), hoping that his assumption is now correct.

He begins by placing 1 lot intervals, and his expectation was correct, yes its going down. But in the first week it only moved 100 PIPS.

Now he becomes more confident, but everytime he is up 2 pips or more he closes the position, because he knows that it could go against him very quickly. Unfortunately some positions weren't in the positive, so he holds them in the hope that it will go his way.

From 160 wins he has made 14 % which at 100:1 leverage relates to 14 pips.
But of course he isn't playing 100 % he is playing just 10 % of the total capital.

But what happens when he gets it wrong ?
His Demo profit which is made then reduces, and he starts to play many more lots, in the hope that it will go back into positive.

He has done this many times before, and what I cannot understand is that he continues playing in this ridiculous manner.

Ultimate you asked him about showing accounts for one or two years.

I will explain what happened two years ago.

EURUSD was about 1.2200 he firmly believed that it would go up and he had a large number of wins in a row. Then suddenly the EUR USD corrected and retraced about 200 pips. He was thrown out of the game 2 or 3 margin calls.

He has done this many times over, and that is why he should have now realised that there are lucky streaks.

He is a person who believes after 2 years of Forex Trading that he knows everthing there is to know about this game. He never traded anything before that time.

Therefore Bruce keep on posting your kilometres of information, but forget about your Super Ego on a Demo Account. In the real world people really do play 100 000 USD accounts.

Ignored

Quoting Two percent

Disliked

Bruce's system works as follows:

He believes that the USD JPY will at sometime go down. However he isn't exactly sure when this will happen, thus from May 25 he is telling everyone the USD JPY is going down. However Warren Forex sees the USD JPY going up, and therefore deduces that at some point it will correct and retrace.

He waits until June 9 and then opens a Demo Account not with 10 000 USD but with 100 000 USD ( which helps him to feel wealthy ), hoping that his assumption is now correct.

He begins by placing 1 lot intervals, and his expectation was correct, yes its going down. But in the first week it only moved 100 PIPS.

Now he becomes more confident, but everytime he is up 2 pips or more he closes the position, because he knows that it could go against him very quickly. Unfortunately some positions weren't in the positive, so he holds them in the hope that it will go his way.

From 160 wins he has made 14 % which at 100:1 leverage relates to 14 pips.
But of course he isn't playing 100 % he is playing just 10 % of the total capital.

But what happens when he gets it wrong ?
His Demo profit which is made then reduces, and he starts to play many more lots, in the hope that it will go back into positive.

He has done this many times before, and what I cannot understand is that he continues playing in this ridiculous manner.

Ultimate you asked him about showing accounts for one or two years.

I will explain what happened two years ago.

EURUSD was about 1.2200 he firmly believed that it would go up and he had a large number of wins in a row. Then suddenly the EUR USD corrected and retraced about 200 pips. He was thrown out of the game 2 or 3 margin calls.

He has done this many times over, and that is why he should have now realised that there are lucky streaks.

He is a person who believes after 2 years of Forex Trading that he knows everthing there is to know about this game. He never traded anything before that time.

Therefore Bruce keep on posting your kilometres of information, but forget about your Super Ego on a Demo Account. In the real world people really do play 100 000 USD accounts.

Ignored

Quoting Rialto

Disliked

Bruce,

Is that Crescent Street in NY?

Ignored

Quoting Warren Forex

Disliked

WWW.SAXOBANK.COM

Market Comments
The stock market swoon yesterday finally saw the classic risk aversion response in FX as CHF and JPY crosses took a dive. This comes just a day after we make a joke about FX traders becoming commodity traders (currencies having done everything in their power lately to ignore the stock market sell-off and the low yielders trading inversely and in lockstep with commodities and interest rates). Key for yesterday's development was not only the action in equities, but mostly the massive fall in government bond yields. Then, overnight, the weak data from Japan was actually ugly enough to cause a bit of consolidation in the JPY move. Household spending was down over 3% year-on-year in May and the June inflation data for Tokyo is showing signs of more rapidly rising prices. Japan is very dependent on many raw materials imports and the JPY will likely need for the commodity bull to show signs of ending before showing a sustainable rise. Still, the economic malaise is definitely showing signs of spreading and deepening and this is a background bullish story for the JPY - the key in the medium term will be signs of slowdown in various key emerging market economies to make the story complete. If we look at the JPY crosses, we saw a reasonable dip yesterday, but big support levels are far from violated, so the market may require continued pressure on asset markets for a strong JPY story to progress in the short term.
The USD continues to suffer as it responded poorly in a risk averse environment (our eventual expectation is that signs of slowing global growth are actually a USD bullish story, but for now, the market still seems focused on the Fed's wan rhetoric and lack of credibility on the inflation-fighting front.)
One of the reasons for yesterday's equity sell-off was a Goldman Sachs downgrade of investment banks and GM stock. There has also been a lot of noise lately about the British banks, yet GBP has held up remarkably well with the focus on inflation rhetoric from the BOE yesterday. It is amazing how this market tenaciously holds on to the interest rate differential argument for price discovery. The UK economy is headed for a crash - higher rates will only make a bigger noise. Nevertheless, GBPUSD is now free of all short term resistance with the move above 1.9850 yesterday. We wonder if perhaps the GBP strength is mostly based on a short squeeze rather than new positions - how long will this continue? The 200-day moving average in GBPUSD comes in just under the 2.0000 level.
Yesterday's US data did little to inspire any confidence in the US economy. Weekly jobless claims remain high and raise worries about next week's US employment report. Existing home sales were marginally higher than expected and higher than in April, though the less than bullish reason for the uptick, according to reports, was increased interest from bargain hunters with so many houses on the auction block due to foreclosures.
It will be interesting to see how equity and bond markets finish the week after a very depressing week indeed on the exchanges. And how will FX respond? Next week offers plenty of data from the USD in a holiday-shortened week with the ISMs and employment reports the key highlights. The ECB meeting next Thursday is the key non-US event risk.
Chart: EURCHF
The market's classic risk barometer took a hit yesterday as government bonds finally made a stand and global stock markets swooned. EURCHF posted a brief new high very close to the key 200-day moving average, only to fall steeply for most of the rest of the day. This may the long awaited signal that it is time to sell EURCHF on the global growth slowdown and potential for risk aversion. The key follow up for this scenario would be a move below the 1.6030 area support level.

Ignored

Quoting WarrenBuffet

Disliked

Why is there so much trash in this thread?

Ignored