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How people should really trade!

  • #141
  • Dec 14, 2008 7:09am Dec 14, 2008 7:09am
When an interest turns into a hobby.
When a hobby turns into a passion.
When a passion turns into an obsession.
When an obsession turns into a lifestyle.
Somewhere along the way you learn to stop trading your Wallet.

Roy
Polishing my crystal ball
  • #142
  • Dec 14, 2008 11:59am Dec 14, 2008 11:59am
The m15 looks interesting too.

I may not wait for London open

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  • #143
  • Dec 14, 2008 12:38pm Dec 14, 2008 12:38pm
Quoting stewrigh
The m15 looks interesting too.
Not nearly as interesting as the weekly chart.
  • #144
  • Dec 14, 2008 12:52pm Dec 14, 2008 12:52pm
Quoting clockwork71
Not nearly as interesting as the weekly chart.
The monthly as well
  • #145
  • Dec 14, 2008 12:56pm Dec 14, 2008 12:56pm
Quoting clockwork71
Not nearly as interesting as the weekly chart.
Absolutely lol.

If you put the fibs on the 50 retrace comes in about 8468 - Think I might wait.

Thanks.
  • #146
  • Dec 14, 2008 5:33pm Dec 14, 2008 5:33pm
Quoting LasVahGoose
Do you use software or an excel spreadsheet to figure out the equity curve?
I get the raw data in .csv so I edit it in either Calc(Open Office) or Gnumeric and then just plot in that using the insert graph function.

As has been said, MT4 based accounts can just use the internal statistics.
Trust price. Know yourself.
  • #147
  • Dec 14, 2008 7:00pm Dec 14, 2008 7:00pm
Its good to see the thread progressing without me I am really busy this week (coming into holidays at work etc) so I will be out of it a bit.

Am at home as we speak, and am about to go off to a meeting.

Will get some more charts up soon..

Nice charts btw
  • #148
  • Dec 16, 2008 2:35am Dec 16, 2008 2:35am
heres a hard one for you guys.

The rally is an extended one. There is so much support, but there is trend exhaustion on the lower time frames.

A move down to the trend line is 100% certain, however, will it be before or after the up move?

God knows.. Thankfully im on trading holidays at home until the 5th of January.

I would probably look for consolidation, until the trend line, then perhaps long again.

The downtrend line on the daily has broken, so it may be time to start gathering long positions on this pair.
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  • #149
  • Dec 16, 2008 3:03am Dec 16, 2008 3:03am
Takisd!
Thanks for your thread.
Could you say about news time... How news does influence your trading day
Thanks
it's o'k to win ...
  • #150
  • Dec 16, 2008 3:30am Dec 16, 2008 3:30am
Good day Taskid,

I was wondering what the prop traders view is on Averaging, to bring your Break-even point closer to the current price.

Is it seen as the quick road to hell or not? There is alot of conflicting Information around, It would be good to get you and your collegues views on this.

Leon
Living the adventure in my head.
  • #151
  • Dec 16, 2008 5:00am Dec 16, 2008 5:00am
Taskid,

When time allows I would appreciate your view on stops. I only use mental stops & find that some of the few pros posting on these forums do the same.

What do you & fellows traders subscribe to.

There is one former bank trader saying on his thread he does not set stop, but they are always understood.

I know this subject can start arguments, but your input would be valued.

Enjoy your time off & keep US ENLIGHTENED with your knowledge.
  • #152
  • Edited 10:48am Dec 16, 2008 8:01am | Edited 10:48am
Hi Taskid, thanks for sharing your insights in this great thread mate, it's much appreciated
I read it eagerly from the beginning and really like your approach to trading.

Since I am very interested, as I am sure are many others, in seeing how you make things work for yourself I think it might be a good idea to have a separate thread in which you make only your calls with your explanations and that you lock that thread so that nobody else can post in it. In the same time we could keep this thread here as a discussion room so to speak. Also it would help to have a unique number for each of your calls and links (possibly in your signature) to both threads so that so that anyone taking part can easily switch form one to the other and know which of your calls is being talked about.

The reason I am saying this is because too often I have seen a good thread start and then getting cluttered with too many different post about matters of opinion to the point where in the end one doesn't even know what the thread was originally about.

But if you have one open thread for discussion where us folks could discuss your calls with you as well as making our own calls and another closed thread where you present your ideas without anyone else interfering I believe the whole thing could become more easy to understand at all times and more constructive and rewarding for everybody taking part in it.
It's up to you but I believe that doing it this way would make it more enjoyable for yourself and us.
Let us know what you think of it.

Greets

MP
Be like a post stamp! Stick to it until you get there!
  • #153
  • Dec 16, 2008 11:10am Dec 16, 2008 11:10am
Quoting Mary Pippins
Hi Taskid, thanks for sharing your insights in this great thread mate, it's much appreciated
I read it eagerly from the beginning and really like your approach to trading.

Since I am very interested, as I am sure are many others, in seeing how you make things work for yourself I think it might be a good idea to have a separate thread in which you make only your calls with your explanations and that you lock that thread so that nobody else can post in it. In the same time we could keep this thread here as a discussion room so to speak. Also it...
Lol, I doubt that he is a Glory seeker, and I also doubt he is going to be giving 'calls'. Of course, im often wrong.
Living the adventure in my head.
  • #154
  • Dec 16, 2008 2:38pm Dec 16, 2008 2:38pm
Quoting Mary Pippins
Hi Taskid, thanks for sharing your insights in this great thread mate, it's much appreciated
I read it eagerly from the beginning and really like your approach to trading.

Since I am very interested, as I am sure are many others, in seeing how you make things work for yourself I think it might be a good idea to have a separate thread in which you make only your calls with your explanations and that you lock that thread so that nobody else can post in it. In the same time we could keep this thread here as a discussion room so to speak. Also it would...
I simply dont have the time to manage all that. As you probably saw last night, I made the call for a long e/u on the trend line. It happened. I made it well early as well.

After that I didn't log back into FF, because I was busy doing my end of year accounting etc and after that I was just too pooped to be on here.. sorry.
  • #155
  • Dec 16, 2008 2:38pm Dec 16, 2008 2:38pm
Quoting acetrader
Taskid,

When time allows I would appreciate your view on stops. I only use mental stops & find that some of the few pros posting on these forums do the same.

What do you & fellows traders subscribe to.

There is one former bank trader saying on his thread he does not set stop, but they are always understood.

I know this subject can start arguments, but your input would be valued.

Enjoy your time off & keep US ENLIGHTENED with your knowledge.
I use stops at previous hotspots but I will adjust it accordingly when the price action agrees/disagrees.
  • #156
  • Dec 16, 2008 2:39pm Dec 16, 2008 2:39pm
Quoting zenseven
Takisd!
Thanks for your thread.
Could you say about news time... How news does influence your trading day
Thanks
I don't trade news. I trade during news time because technicals rule the markets.
  • #157
  • Dec 16, 2008 2:41pm Dec 16, 2008 2:41pm
Quoting Leonlorenzo
Good day Taskid,

I was wondering what the prop traders view is on Averaging, to bring your Break-even point closer to the current price.

Is it seen as the quick road to hell or not? There is alot of conflicting Information around, It would be good to get you and your collegues views on this.

Leon
Depends on your risk levels. Most market makers will average forward instead of backward. So if their first position is profitable they will add to it. Averaging on losses is silly, cos you are going in the wrong direction, its a short road to hell, mostly because if you are really in the market, i.e your order is on the interbank, you will just get nailed to oblivion.
  • #158
  • Dec 16, 2008 2:42pm Dec 16, 2008 2:42pm
Quoting Takisd
I don't trade news. I trade during news time because technicals rule the markets.
ABSOLUTLY
Same Whore .... Different Dress
  • #159
  • Dec 16, 2008 5:14pm Dec 16, 2008 5:14pm
Takisd,

Tks for post #155........to the point & concise...just the way it should be.
  • #160
  • Dec 17, 2008 1:33am Dec 17, 2008 1:33am
Quoting Leonlorenzo
Lol, I doubt that he is a Glory seeker, and I also doubt he is going to be giving 'calls'. Of course, im often wrong.

Not sure what you mean with the glory seeker thing but he does make calls all the time.
Be like a post stamp! Stick to it until you get there!
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