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Help me Please, i have a problem with Eur/Cad

  • #41
  • Dec 3, 2008 1:40pm Dec 3, 2008 1:40pm
Quoting Tjpld
He's going to cry at night. I promise.

When a man wants to be in evidence, not knowing anything, but they note, shows a lump, if you do not know how to give good advice, the better ... you know what I think .... (if you do not know better shut up, maybe someone knows and comes with a good ideie)

  • #42
  • Dec 3, 2008 1:59pm Dec 3, 2008 1:59pm
Your still hoping and praying to get out of this mess. I am long that you let a margin call end it for you. I got faith in you buddy - "You can do it...."

Just having some fun...

Make no mistake - what you are doing is very bad for your future growth as a trader. I can pretty much guarantee that miracles are darn scarce in this business. I had one once, but ended up paying a lot for it.
In trading, there is no bullshit. You either make money or you don't.
  • #43
  • Dec 3, 2008 2:54pm Dec 3, 2008 2:54pm
He's just waiting for someone to say:
"Yeah keep holding on to that loss buddy! With Gods Help you can make it"
To make him feel better. Sadly that's not going to happen.
  • #44
  • Dec 3, 2008 3:34pm Dec 3, 2008 3:34pm
Quoting mrgreen
Your still hoping and praying to get out of this mess. I am long that you let a margin call end it for you. I got faith in you buddy - "You can do it...."

Just having some fun...

Make no mistake - what you are doing is very bad for your future growth as a trader. I can pretty much guarantee that miracles are darn scarce in this business. I had one once, but ended up paying a lot for it.
Your advice is that you must close with the loss that we, that is to lose 80% of the account. I think there is another way out of situations, situations that can not be solved don't exist. If you'll be in this situation how do you do? You treiders experienced. (with 2000 dollars in account you can make 10,000)
  • #45
  • Dec 3, 2008 3:42pm Dec 3, 2008 3:42pm
Quoting flame_angel
Your advice is that you must close with the loss that we, that is to lose 80% of the account. I think there is another way out of situations, situations that can not be solved don't exist. If you'll be in this situation how do you do? You treiders experienced. (with 2000 dollars in account you can make 10,000)
Yes close it down and learn some money management. Losing 80% on one trade is just stupid. Use the remaining balance to learn. Better still go on demo and learn.
  • #46
  • Dec 3, 2008 3:46pm Dec 3, 2008 3:46pm
Quoting flame_angel
Your advice is that you must close with the loss that we, that is to lose 80% of the account. I think there is another way out of situations, situations that can not be solved don't exist. If you'll be in this situation how do you do? You treiders experienced. (with 2000 dollars in account you can make 10,000)
You can "make" x amount of dollars with x amount of account. The simple fact is you need to learn money managment. With proper money managment you can turn a couple thousand into millions. It isn't going to happen in days, months or even years. The simple fact is if you want to be a trader and not a gambler you need to learn that small gains add up and risking so much on one trade is silly.
  • #47
  • Dec 3, 2008 4:20pm Dec 3, 2008 4:20pm

thanks for the tip, you are absolutely correct. I know I read a lot about moneymanagiment (2% of the account "Elder: Tading for a living) up to 10%, but I was very miserly (I wanted to win much at once), and without the experience I got in this situation , Which is difficult, we try to solve, or to be a good lesson for future account

  • #48
  • Edited Dec 4, 2008 8:17am Dec 3, 2008 10:30pm | Edited Dec 4, 2008 8:17am
Quoting flame_angel
Your advice is that you must close with the loss that we, that is to lose 80% of the account. I think there is another way out of situations, situations that can not be solved don't exist. If you'll be in this situation how do you do? You treiders experienced. (with 2000 dollars in account you can make 10,000)
Well there's the problem. You think. But you have no clue.
So if you already belive there is another way why don't you do that?
Not even the most elitist trader in the world can manage to turn a loss in to a win.

You're not going to gain any money in Forex anytime soon. You're just not ready. So It's totaly irrelevant if you could turn the remaining 2k in to 10k.
It's not going to happen because you don't know how to trade.

LOL I wonder if that guy's going to post here anymore. That nice 300 Pips rally must have killed him.
  • #49
  • Dec 4, 2008 9:55am Dec 4, 2008 9:55am
Quoting willf
I don't see EURCAD coming back to your price anytime soon. This is a daily chart and it looks like it will test the 1.600 area. If it breaks through that it's headed to 1.6200 with very little resistance in it's way.

Just my 2 pips
Like I said, straight to 1.6200
Attached Image (click to enlarge)
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  • #50
  • Dec 4, 2008 12:19pm Dec 4, 2008 12:19pm
I don't think he's coming back. His Drawdown was already 6000$ on 8k account when price was still at 5900 now it went up another 300 Pips.
  • #51
  • Dec 5, 2008 10:33am Dec 5, 2008 10:33am
wow! I know a lot of people are against trading with stops, but people please! if you think your stops are being hunted just put in a worst case scenario stop and place it 100+ pips away from the current price action.

I learned the hard way trading corn with no stops - lost 6k in about 15 seconds. Never again - now I always know my "cry uncle" point.

Personally, I don't see why you would risk more than 50 pips on any trade. If you enter near pivots, supply-demand lines and the price moves more than 50 pips against you --> you were simply wrong! Time to accept the fact you are wrong and move on to the next trade.

I wish you the best of luck and hope you take this as an expensive learning experience and keep on trading.

"The game taught me the game.
And it didn’t spare me rod while teaching."

-- Jessie Livermore

  • #52
  • Dec 6, 2008 8:13am Dec 6, 2008 8:13am
Quoting enochben
wow! I know a lot of people are against trading with stops, but people please! if you think your stops are being hunted just put in a worst case scenario stop and place it 100+ pips away from the current price action.

I learned the hard way trading corn with no stops - lost 6k in about 15 seconds. Never again - now I always know my "cry uncle" point.

Personally, I don't see why you would risk more than 50 pips on any trade. If you enter near pivots, supply-demand lines and the price moves more than 50 pips against you --> you were simply wrong!...

Thanks so much for encouragement, success in trading

  • #53
  • Dec 6, 2008 10:37am Dec 6, 2008 10:37am
How's your account doing?
Didn't stop at 1.62 as it seems.
  • #54
  • Dec 7, 2008 3:10pm Dec 7, 2008 3:10pm
Quoting fiberangel
It's not that CAD is weak, it's the strength of USD. EUR/CAD = EUR/USD * USD/CAD and since eur/cad follows usd/cad closer than eur/usd and because usd/cad keeps going up it pushes eur/cad higher. A potential hedge could be going long on USD/CAD, but at this point it may be too late. You could wait for a good pull back in USD/CAD and go long, but use your own discretion. Good luck.
How can some compound currency pair follow one part of the equation more closely than the other? It is a simple mathematical multiplication. Do you mean EUR/CAD is more responsive to changes in CAD than in EUR?
  • #55
  • Dec 7, 2008 4:48pm Dec 7, 2008 4:48pm
Quoting kuruca
How can some compound currency pair follow one part of the equation more closely than the other? It is a simple mathematical multiplication. Do you mean EUR/CAD is more responsive to changes in CAD than in EUR?
http://en.wikipedia.org/wiki/Correlation
http://www.mataf.net/en/forex/eurcad

You are correct stating that it is a simple math equation. I think those 2 links will answer the question, if not, let me know and I'll be happy to help.
  • #56
  • Dec 7, 2008 6:04pm Dec 7, 2008 6:04pm
Now you guys have really gone and done it. Did you check his profile ? Even one of you ?

You managed to piss off a Vampire !! Look, it's right there: Romania. Good going people.

yea, yea, just trying to help the poor guy out of a jam. No good deed goes unpunished. We're all screwed.
Attached Image (click to enlarge)
Click to Enlarge Name: angel.PNG Size: 41 KB
  • #57
  • Dec 7, 2008 6:14pm Dec 7, 2008 6:14pm
Don't believe me, need more proof. Tune in to TNT (they know drama) and see if it ain't so:
Attached Image
  • #58
  • Dec 7, 2008 8:28pm Dec 7, 2008 8:28pm
Quoting fiberangel
http://en.wikipedia.org/wiki/Correlation
http://www.mataf.net/en/forex/eurcad

You are correct stating that it is a simple math equation. I think those 2 links will answer the question, if not, let me know and I'll be happy to help.
Thanks for the links. I I had a nonsense misconception that some currency pairs are simple artificial by-products of other currency pairs. Since these variables are not independent, what you said makes sense to me now.
  • #59
  • Dec 7, 2008 8:29pm Dec 7, 2008 8:29pm
Quoting kuruca
Thanks for the links. I I had a nonsense misconception that some currency pairs are simple artificial by-products of other currency pairs. Since these variables are not independent, what you said makes sense to me now.
I meant "since these variables are independent"
  • #60
  • Last Post: Apr 8, 2009 4:29am Apr 8, 2009 4:29am
this is the epitome of amateur hour... good luck
Grabbing the bull by the horns!
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