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Help needed in OANDA + users from Malaysia 105 replies

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  • #19,341
  • Oct 28, 2008 11:27pm Oct 28, 2008 11:27pm
Quoting Malaysia
I am not really sure what is the actual of the production price of OIL now. Technically, it shouldn't dive below the production price... (maybe around USD55 to USD60 per barrel... can anyone confirm this?) OPEC will surely cut or stop production if the price is below the production price. The price should stabilised around $60 to $80 for this current crisis. Just my point of view.

Logically, if I have a factory... why should I sell my product at $40 whereas the cost to produce it is $60.

Okey dookey... time to concentrate on my apprentice. Cheerio!
we won't know exact production cost per barrel,..this question been ask thousand time already since oil price hike last time,...people really wanna to know the actual production cost per barrel,..

http://www.energyandcapital.com/arti...-gas-crude/461
"A smooth sea never made a skilled mariner"
  • #19,342
  • Oct 28, 2008 11:32pm Oct 28, 2008 11:32pm
Quoting Malaysia
I am not really sure what is the actual of the production price of OIL now. Technically, it shouldn't dive below the production price... (maybe around USD55 to USD60 per barrel... can anyone confirm this?) OPEC will surely cut or stop production if the price is below the production price. The price should stabilised around $60 to $80 for this current crisis. Just my point of view.

Logically, if I have a factory... why should I sell my product at $40 whereas the cost to produce it is $60.

Okey dookey... time to concentrate on my apprentice. Cheerio!
Agree with you!!!!This is the main priciple of economics....I think USD 60 should be the floor....Otherwise OPEC will cut production again....
  • #19,343
  • Oct 28, 2008 11:38pm Oct 28, 2008 11:38pm
Quoting AWIE
we won't know exact production cost per barrel,..this question been ask thousand time already since oil price hike last time,...people really wanna to know the actual production cost per barrel,..

http://www.energyandcapital.com/arti...-gas-crude/461
I think it will depends on the method used to extract oil.....Deep sea drilling is definitely cost more than ground drilling.....So for me it varies.....If the oil keep dropping,we can forget deep sea drilling like what been proposed in Brazil where they found massive oil field deep below the seabed......
  • #19,344
  • Oct 28, 2008 11:43pm Oct 28, 2008 11:43pm
Quoting wakli
Agree with you!!!!This is the main priciple of economics....I think USD 60 should be the floor....Otherwise OPEC will cut production again....
the principal idea,...yes if it goes below the production cost,..the same same question appeared 'why should i sell below my production cost?"

but correct me if im wrong,... since oil player didn't reveal the exact production cost,...we and the rest can only speculate,...
"A smooth sea never made a skilled mariner"
  • #19,345
  • Oct 28, 2008 11:52pm Oct 28, 2008 11:52pm
The SET UP done by my Apprentice. Dang!!! He is more aggressive than me

He said: Trade At your own risk!!!

p/s: I think he'll be graduating sooner than he expected
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  • #19,346
  • Oct 29, 2008 12:00am Oct 29, 2008 12:00am
Quoting Malaysia
The SET UP done by my Apprentice. Dang!!! He is more aggressive than me

He said: Trade At your own risk!!!

p/s: I think he'll be graduating sooner than he expected
Nice chart!!!!Wish him all the best....
  • #19,347
  • Oct 29, 2008 12:03am Oct 29, 2008 12:03am
Quoting Malaysia
The SET UP done by my Apprentice. Dang!!! He is more aggressive than me

He said: Trade At your own risk!!!

p/s: I think he'll be graduating sooner than he expected
impressive!!!
"A smooth sea never made a skilled mariner"
  • #19,348
  • Edited 12:32am Oct 29, 2008 12:30am | Edited 12:32am
Quoting GrodoT
[]http://www.gifs.net/Animation11quote]
No problem Mr BULL..
Take your time ... Mr BEAR can wait ...
Will set springboard just a little bit higher so can dive much deeper..
Hi Grodot & others,

I see a lot of people shouting aloud. market gone up? my gbpusd must be in bad shape hehe. nvm, i back the excessive profit to you guys. but still hope my it will go far

hey Grodot, dont worry..relax..remember..everyone got their share. important one is whether it is forthcoming every month or not. Before i go to sleep, i'll share a bedtime story about people trade for living. I called this story "A Man Who Traded Hit Ratio With Consistency"...Coming in a minute or two as the thing i type could not be posted unless i type it somewhere and paste it in the reply sheet.

G33maroon
I am bored..
  • #19,349
  • Oct 29, 2008 12:39am Oct 29, 2008 12:39am
Quoting AWIE
impressive!!!
Quoting wakli
Nice chart!!!!Wish him all the best....
Thank you Masta Sham (errr... he don't like to be called like that) asked me to take over his trading desk for the time being... he is cooking for lunch now.

Now that my PO SELL triggered... I cancelled my PO BUY already. My previous LONG also had hit the SL for many hundreds pips profit.

En. Sham shouted from the kitchen... don't forget to move down the SL to the green side once you are confidence enough with the bear.

TP at any of those Fibbo Level or at the SUPPORT lines... depending on how GREEDY you are.

I am not responsible for any of your loss for following my call... do your own due diligence.

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  • #19,350
  • Oct 29, 2008 12:41am Oct 29, 2008 12:41am
Hope this one will not coming out with all the crap..Okay like this..

This is a story about one of the people that gains my respect. This man..he’s a hyper scalper of almost 30 years trading. Out of curiosity, I joined a group of ppl traded together with him. Anyway, I don’t know him long as I have to skip this group to attend to numerous of things but being sometime..trading together I learn a little bit about this man. Oh yeah, another thing is I know is there is one person from KL joined this group. He said previously he was with TV3, resigned got into on-line marketing. now diversify into trading. I hope for his succeess and hopefully now this young man may have been able pipping his way to success hehe hopefully.

Okay, continue.. he, the master, he scalps future euro, gbp, ES etc but he also position trade. But I want to emphasize on his short term trade. He traded his own “personal fund” of half a million (I believe here we would be a few selected ppl traded the same amount or even more fund but that’s not the point). He is risking USD15k per day [3% (I believe)]. His strategy is simple, 20 stoploss and 21 target which 1 is for the landlord..why for the landlord funny but if it someone happens to know him, ask him and send my regard to him hehe. He advocates to take a fresh swing of the session. For him, he only need 1 time frame..any time frame does not matter..1 min? 5 min? 30min? 4 hours? daily? Weekly? its not the issue because for him time frame is only to make our life easy. The longer the timeframe the bigger the horizon you’re looking. Otherwise is true. He trade this short term using 1 - 5 min (preferable). I can see the way he trade, he is strict yet flexible. He gave two reasons why he survives the market for so long are because 1. He never took the market for granted 2. He gave a reasonable chance to his positions.

But “I think” he survives because:
1. He idolized the price and none other than that. He learn to read the market..anyway this is some of his words:
“Reading the market is not price action...I mean..common' that's another foolishness I've been listening lately.....like "oh I am better than you because I read price action and you,re not" that's a bunch of crap in my opinion. Price is just a tool for entry and exit...that's it. Again, don't worship anything you put on the charts...learn how to read the swings...the market is telling you something...”

2. If the condition of the market does not allow him to trade..he simply don’t trade! If he spots a “chop monster” (words he invented) he does not trade. If he gets a pullback too deep & risk too high, he may skip. If he did take the trade, he’ll lighter the load and reduce his target. he once said “If you lose, get up, shake yourself and keep walking. If you win....don't get excited...the war is not over you don't have it made yet buddy!!!”

ops i had a long distance call. i continue afterward again. Its a long writing but i had it visualize in my head now hopefully i dont forget.

G33maroon
I am bored..
  • #19,351
  • Oct 29, 2008 12:49am Oct 29, 2008 12:49am
Quoting Malaysia
Thank you Masta Sham (errr... he don't like to be called like that) asked me to take over his trading desk for the time being... he is cooking for lunch now.

Now that my PO SELL triggered... I cancelled my PO BUY already. My previous LONG also had hit the SL for many hundreds pips profit.

En. Sham shouted from the kitchen... don't forget to move down the SL to the green side once you are confidence enough with the bear.

TP at any of those Fibbo Level or at the SUPPORT lines... depending on how GREEDY you are.

I am not responsible for any of your loss for following my call... do your own due diligence.

WHIPSAW MY SL got hit ... 1 pip only.I think I'm done trading for today.
  • #19,352
  • Oct 29, 2008 12:58am Oct 29, 2008 12:58am
Let me get my trading desk back. Okey dookeeyy... I am back. Good man You chicken out while still on the green with many many pips banked in today. Better than chiken out while acc nearly hit the margin call

WTF!!! WHIPSAW big time!!! The game of BIG PLAYERS now!!! Panic environment... trade with caution... or don't trade at all.

That man can trade on his own now... he graduated with his green pips... who else wanna be my apprentice? My house is always open.
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  • #19,353
  • Oct 29, 2008 1:05am Oct 29, 2008 1:05am
okay a short interruption. i'll finish this no matter what hehe okay continue..

3. He carefully choose his load and said we have a lot of time to decide this when we decided to take the trade, he said. He will never let his hard stop being hit. Only once in a while out of a blue moon this 20 pips hard stop being hit. He is very aggressive with his risk, trailing it tick by tick as the market move. Get what I mean? However, according to him, this small stoploss never hinder him to let the trade run till hundreds of pips. If target reached, sometimes he may halve the position at 20 pips and let it run etc. as again he said “there is many ways to skin a cat”. So he may scale it out, halve it etc depending to situation of his likes. But important is “…”. I’ll get into that at the later part.

4. He takes what the market gives him. Target is always a target but what you gain is what the market gives you. He urges everyone to press the panic button if we are in good run but target not reach yet but suddenly price reversing e.g. +16 but suddenly down 10, 8, etc..push the panic button, you guys!. Satisfy with what the market gives you. Don’t let a winner become a loser but don’t be a fool. There is plenty of opportunity.

5. His perspective about losing is “He’ll lose no matter what and it is part of the business”. Take it as part of life. Set the mind like running a business where losing is part of it.

6. This one, the last one, is the most important one I want to share with everyone. “He traded his hit ratio with consistency”. He said his hit ratio is 50-50 (if my memory does not fail me). But I think with such consistency to cut loss and go for a runner..manage his trade and never/seldom allows price to stampede his 20 pips stoploss..takes what the market gave him, never turn a winner to a loser. His every end month statements will be always +ve. I am sure of it. And something should interest everyone is that he “expects” when he is a trade (his expectancy), the market will move to his side within a reasonable time with a reasonable “speed” (or he said AKA momentum). If it does not happen, his ass on the line, he has no business holding the position. Some believes that to put +1 pip after the market moves is okay, if got hit then I still got +1. I say its foolish. Why you would give back your 100 or 30 or 16 pips and settle with +1 pip? There ar many ways to avoid this. Do our own experiment. I believe his –ve statement would be very rare. Big fluctuation of profit and loss experience will be minimised. No system, no strategy no indicator etc etc will give you consistency other than learn how to manage your trade. The gist is consistency. As a trader, this is also my aim. If this is not your aim, think about it?

there is a one last part about us trading together which i want to remember. forgive me. come back again after one round of cigarette hehe.
I am bored..
  • #19,354
  • Oct 29, 2008 1:12am Oct 29, 2008 1:12am
http://media.ebaumsworld.com/picture...pic_img121.jpg
Quoting Malaysia
http://www.gifs.net/Animation11/Anim...ull_flexes.gifhttp://www.gifs.net/Animation11/Anim...ull_flexes.gif

Still Valid

Quoting Malaysia

p/s: Famous quote: \\"You become worry when everyone is greedy... You become greedy when everyone is worry\\". Who said that?
Big Players said that... he is doing it now I guess. About 150pips spike in 10 mins only... massive order!!! Anchovies and plankton being eaten alive by whales and sharks.


  • #19,355
  • Oct 29, 2008 1:19am Oct 29, 2008 1:19am
okay i had my round..now the trading together.. I remember during us session the group traded the euro and gbp. I don’t remember the exact date but that day, if I am not mistaken, the trade balance is not good. Uk is in trouble, I think. Everybody with his comfortable zone or load. We entered after the dust was settled and with a belief that we saw a good swing. In deed at first..then market turn around, all bail out except both of us (me and the master). Those that bail out, the lucky one managed to save their ass with some +few pips and some with few -ve pips (I don’t know whats wrong). He holds the trade till some point and bail out with few –pips (-9 pips I think). I was holding, quite big lots so could not and will not bail out so easily. Market turn back to our favor, he then re-enter at the exact spot he entered previously. Then it was rewarding, we got what we deserve. But somehow I believe actually I am a “loser”. I am impressed of how strict he is with his expectation and risk and how he showed us that’s not end of it, there is plenty of time. Like he said there is plenty of runners. Okay, oneday, I tried to get his view on certain thing. One of the advice I get was “if you keep letting your hard stop being hit, you will not survive if you are still in this business.” (it’s something around that). It took me some time to think about this simple advice. I remember he said he doesn’t ask for anything, but if we happen to be around his place bring him a bottle or two good wine (please i dont drink, okay). Sad, the place I am looking for, to ask his street address, is not accessible or may not exist anymore..just in case I happen to be nearby. My regret is that I had not a chance to know this man personally. But somehow, I did make some copy of the trading room transcripts and still have it with me..somewhere..i am looking hmmm where it is? Maybe I will re-read if what I said here is wrong.

Hope you like this story, grodot and also to others who appreciate it. There are also a few bed time stories of other great traders that I personally know (unsung heroes not illustrated in any trading books..of course for me they are great man) but I need to re-collect the fading memory first. Sorry as usual it’s long. BTW, hope some of you guys can figure out the message and learn something from this. i am going to bed, hectic day.

my best regards,

G33maroon

p/s: Who is this wise man? If you read this I hope you don’t mind I am sharing this. If what I have said is wrong, please forgive me that this is only from my perspective.
I am bored..
  • #19,356
  • Oct 29, 2008 1:25am Oct 29, 2008 1:25am
I learnt a lesson from my bad experiences... unless I already have a floating position with SL on the green... don't trade in panic environment. Don't jump the gun in the middle of the fight/chaos... Don't trade with no confidence. Therefore... Switching off the chart... closing down my FX Class for today... and chill out time

p/s: This just graduated apprentice better treat me something today... a free coffee at the Pavillion, Bukit Bintang should be nice
  • #19,357
  • Oct 29, 2008 1:59am Oct 29, 2008 1:59am
Quoting AWIE


edit: waiting to lock in
waaa,..super rocket only manage to scale out R/R 1:1 for this trade,... alhamdulilah.

happy enough,.. wait side line first.
"A smooth sea never made a skilled mariner"
  • #19,358
  • Oct 29, 2008 2:00am Oct 29, 2008 2:00am
g33 Maroon...

insightful notes.. i feel like to cum when go thru your lines.. i meet this type of unsung heroes as well.. i think they are really concentrating on positive monthly ratio..

my track is set.. come jog or do your brisk walk john!!!
  • #19,359
  • Oct 29, 2008 2:04am Oct 29, 2008 2:04am
Quoting AWIE
waaa,.. manage to scale out only R/R 1:1 for this trade,... alhamdulilah.

happy enough,.. wait side line first.
awie, for ratio 1:2, try on early asian session.. i think its quite easier to achive...bdw, 1:11/2 is impressive as well..
  • #19,360
  • Oct 29, 2008 2:21am Oct 29, 2008 2:21am
Quoting johnbaem
awie, for ratio 1:2, try on early asian session.. i think its quite easier to achive...bdw, 1:11/2 is impressive as well..
4.00am to start ooo
5.00am market begins,... aiyaa,..morning quite busy becoming 'supir' preparing & sending my askar to school.

ps: 1:1 pon alhamdulilah dahhh hit my daily quota dah, tapi bak kata sudin ' kalau nak memberi biarlah berlebih-lebih,.... betul kan wakli.
"A smooth sea never made a skilled mariner"
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