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  • #73,341
  • Mar 10, 2009 3:44am Mar 10, 2009 3:44am
Quoting KillerWhale
One thing is very funny,

Based upon what I read everywhere there is this rumor that 90 - 95 % loses money in this market. I don't know where that is based on but I guess there is some truth in it. I don't know for sure.

Based upon what I read in this thread the opposite is true.
Almost everyone is posting winning trades and almost no one is posting losing trades.
The only ones posting losing trades are the real experienced traders.

So I guess all the beginners and less regular posters are the best traders in the world, because they always...
Does a losing trade of 170k in 2002 count? I'm +160 for today and -44 yesterday (clicked the wrong damned button) but I don't count those.
  • #73,342
  • Mar 10, 2009 3:46am Mar 10, 2009 3:46am
Quoting Driver55

eyes on EURUSD ... this time I have the impression that it breaks up

I agree it looks like it, but could this all be a trap as Fed Chairman Bernanke Speaks today??? and after they tank the shit out of it???
Trade on your own risk Plan your trade&trade your plan dont be a
  • #73,343
  • Mar 10, 2009 3:50am Mar 10, 2009 3:50am
Quoting KillerWhale
One thing is very funny,

Based upon what I read everywhere there is this rumor that 90 - 95 % loses money in this market. I don't know where that is based on but I guess there is some truth in it. I don't know for sure.

Based upon what I read in this thread the opposite is true.
Almost everyone is posting winning trades and almost no one is posting losing trades.
The only ones posting losing trades are the real experienced traders.

So I guess all the beginners and less regular posters are the best traders in the world, because they always win.

Funny...
I read the same thing 90% loses theire money I also heard that most of trader lose all theire money from first account opened at forex Its more than sure you will have bad trades and lose some money its only a matter of time when it happens. The most important is to have more good than bad trades
  • #73,344
  • Edited 7:59am Mar 10, 2009 3:52am | Edited 7:59am
Quoting Trading Cat
I agree it looks like it, but could this all be a trap as Fed Chairman Bernanke Speaks today??? and after they tank the shit out of it???
Could be a trap. But Barnacle rarely southes..
  • #73,345
  • Mar 10, 2009 3:56am Mar 10, 2009 3:56am
Most brokers will tell you they process up to 5000 new accounts daily but don't tell you the amount. The average I am told is 5k. I am also told that of the 5000 accounts opened today, 4500 will be broke in 90 days. Of the remaining 500 another 450 will be broke in the next 90 days. Of the remaining 50, 45 will have less than 50% of their original funds. That leaves 5 people with greater than 50% of what they started with.
  • #73,346
  • Mar 10, 2009 3:57am Mar 10, 2009 3:57am
Quoting Trading Cat
I agree it looks like it, but could this all be a trap as Fed Chairman Bernanke Speaks today??? and after they tank the shit out of it???

I do not know so i´m looking the PA.
If we regain 2734.. I see the following step 2783, 2815, 2905

The best thing that can happen to you is to find out where you're wrong.
  • #73,347
  • Mar 10, 2009 4:01am Mar 10, 2009 4:01am
may be this variant
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  • #73,348
  • Mar 10, 2009 4:01am Mar 10, 2009 4:01am
I wouldn't be surprised if Fed Chairman Bernanke flips-the-script, making E/U continue its downtrend momenttum. I sort of figured, today would be a repeat of yesterday's P/A but in the opposit direction. Yesterday, I roadout a 140 pips profit in the downward trend. Today I knew a retracement (of yesterday's downward move) was due today.

Once my profit target is hit, I will be exiting this trade and waiting until after Fed Chairman Bernanke speaks ... see which way he moves the market.
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  • #73,349
  • Mar 10, 2009 4:03am Mar 10, 2009 4:03am
Quoting psiholog
...No one in their right minds would buy in the stock market these days....
I bought some Aussie stocks last week that are in nice profit

Don't intend to hold them for long though
  • #73,350
  • Mar 10, 2009 4:04am Mar 10, 2009 4:04am
Quoting dotweb.pl
I also heard that most of trader lose all theire money from first account opened at forex Its more than sure you will have bad trades and lose some money its only a matter of time when it happens.
i actually hope that is true. as forex is 90% psychology (at least from my point of view)...losing at first is a must.

Imagine this...you start off with a 1000 dollar account and build that account over a course of 5 years into 100000. Now lets assume that because you never really lost, you never learned the weaknesses in your methods (no system is foolproof). Lets say that at 100k...your weakness is revealed..you dont have proper mm and dont use stop loss. At that time instead of lets say 50pips taking out maybe 1% of your account....50pips take out 10%. Having seen this incredible loss, you wait for your account to come back to no loss as you dont want to lose any money. Now that 50pips turns into a 500 pip loss in a single trade on the most incredible rally you ever saw and lose everything. The most disastrous day for you ever..5years work..gone.

Now imagine you lost your account when you only had 1000 invested, you will simply learn from your mistakes and invest again. Invest another 1000 and you may lose it all again...the rest of your mistakes are revealed. You miay do this several times until you got a good system going. Now lets say this process takes you 1 year and then in 4 years you reach that 100k value. At that point...you have a terrible day, you lose a trade with 50pip stop loss but you only lost 1% given that you have proper mm by now. You may lose 10trades in a row for the rest of the week but that still equates to only 10% of your account while in the previous example you would lose it all.

Conclusion: without losses at first..one gets cocky and over confident..and it will be only a matter of time before they do end up losing it all as mistakes in strategy were not revealed. There is no trader in the world...ever..that did not lose at first...tell me one and ill be amazed.

Sidenote:..both examples are imaginary..if they happened its pure coincidence
Different opinions highly valued, ignorant to slander.
  • #73,351
  • Mar 10, 2009 4:06am Mar 10, 2009 4:06am
Based on the present action (which isn't much) I am short @ 2704 looking for a target in the 2650 area. If price does not break 2690 on the bottom side I will close the position and reevaluate the situation.
  • #73,352
  • Mar 10, 2009 4:12am Mar 10, 2009 4:12am
Quoting dysan4x
Most brokers will tell you they process up to 5000 new accounts daily but don't tell you the amount. The average I am told is 5k. I am also told that of the 5000 accounts opened today, 4500 will be broke in 90 days. Of the remaining 500 another 450 will be broke in the next 90 days. Of the remaining 50, 45 will have less than 50% of their original funds. That leaves 5 people with greater than 50% of what they started with.
That sounds like it could be true.
I've actually never lost an account but that was because in the first years I kept funding it.
Only account I really lost a couple of thousand was when I started trading in 2005 and I opened my first account with Refco. They went bankrupt and I lost 80% of my money. (I got 20% back 2 years later from the bankruptcy court.)

It was not till late 2008 that I make consistent winnings on a weekly basis. I still lose trades every now and then but the last weekly loss I had was October 24th or so with the dramatic fall of GBP/YEN.

Since then at least on a weekly basis I'm in profit and I'm trying to make that profit a little bit bigger every week.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #73,353
  • Mar 10, 2009 4:20am Mar 10, 2009 4:20am
Quoting KillerWhale
That sounds like it could be true.
I've actually never lost an account but that was because in the first years I kept funding it.
Only account I really lost a couple of thousand was when I started trading in 2005 and I opened my first account with Refco. They went bankrupt and I lost 80% of my money. (I got 20% back 2 years later from the bankruptcy court.)

It was not till late 2008 that I make consistent winnings on a weekly basis. I still lose trades every now and then but the last weekly loss I had was October 24th or so with the dramatic...
I've blown 4 Micro (up to $1,000) before realizing I needed to learn the game before betting any more. I sat out of fx for 7 months and demo traded various strategies before going live again. When I did go live, my confidence level was on an all time high so I decided to scrap the Mirco accounts and opened a full standard account.

My last huge lost was June/July 2008 for around -$600. I haven't lost since that day. Though, I don't trade as much as I use to. These days, I trade 2-3 days a week, and that being generous.
  • #73,354
  • Mar 10, 2009 4:22am Mar 10, 2009 4:22am
MONEY SAFETY
Now a new dalima for Globel Economy and spacilly for Major economies of world like Euro rigion $12 T economy in sever cndition due to one main thing is that other nation like USA, UK use its Fiscal and Monetry ploicy for handling crisis like Fed lending all its main banks and finacial institution and Manufacturer Cititbank, Bank Of Amrica Carporation, AIG World largest Insurer ,General Motor world Largest Car Maker ,Crcleyer LLC USA 2rd Largest car maker and Ford Motor all geting loan from Fed (Centeral Bank of USA) and escape from Default and Fed also open its Discount window for other Financial companies ,Retailer, Manufacturer and other hand Govt. also efferts to prevent crisis and pass tow Major Bill $750B bill pass in Bush Govt. and now $789B in current Govt.for rescue companies from bankreputcy Spacilly Financial Institute ,creating or saving more then 3.5M jobs and trying to people stay at home but all efferts fail to prevent crisis, UK's Bank Of England also announce its ready to pump more monry in market and ready to purches Bonds and mid term and Short term Bond ,Bank Of England already have open its Discount window for Services and Manufacturing companies for Lending them and safe them from Bankreputacy ,Govt. Of UK already have been more then 75% holding of Royal Bank Of Secotland(RBS) HSBC and Lolyed Bank three bank have been got Money and according to NSO The Treasury has taken on as much as 1.5 trillion pounds in liabilities, more than the size of the U.K. economy, with its backing of RBS and Lloyds, according to an estimate by the Office of National Statistics
And Govt. of UK already have been nationalize Nothren Rock Bank in Last year
BUT ECB's CHRIRMAN RATE CUTER OR RAISER
Still ECB only playing with its tool and that is only cuting Interest rateor when time of inflation its doing only raising rate ,But 16 Countries in crisis and they all fighting with crisis with out help of ECB mostly under Cradit Rating Cuting like Spain ,Ireland, Purtagal and Cradit -Default Swap raise for France ,italy, Litvia also its more deficulty time for Euro region then other countries because if that 16 countries bloc now without its Centrel bank and more Cradir-Default Swap will raise and it might be according to my thought will be main reason of some countries will left euro as currency because of now other source of genrating money for paying debt is World Bank and IMF so what is main role of Centrel Bank ?only Cuting rate and Raising rate .
More Cutting announce in Euro
More Interest rate cutting in pipeline due to PMI index both industries Manufacturing and Services ,Manufacturing Contribute in GDP is 26% and Services contribute more then 20% contribute in GDP and all announce more cutting like
"-- Volkswagen AG, Europe’s largest carmaker, said it will cut all 16,500 temporary jobs in global operations as the recession and tight credit sap purchases.
"There’s no way around this," Chief Executive Officer Martin Winterkorn said in an interview with Germany’s weekly Spiegel magazine published today. The financial crisis "is really brutal," the CEO added. Company spokesman Stefan Ohletz confirmed Winterkorn’s published remarks by phone.
Responding to the worst car markets in almost two decades, Volkswagen shuttered five German factories this week, affecting two-thirds of its 92,000-strong German workforce. That’s on top of a three-day shutdown at the main plant in Wolfsburg.
German car sales will probably drop 6.5 percent to 2.9 million vehicles this year, the lowest since reunification in 1990, according to Germany’s VDA automakers’ lobby.
BASF SE, the world’s largest chemical company, said on Feb. 26 that it will accelerate plant closures and eliminate at least 1,500 jobs after reporting its first quarterly loss in seven years. Volkswagen AG, Europe’s largest carmaker, and Heidelberger Druckmaschinen AG are also cutting jobs.
SO more uting mean more reduce spending and spending is 70% contribute in GDP and more values declien from Air ticket to Cars Values and home values also and spending already decline in more then 1980 according to Euro Region's saticies department .And more spending decrease mean more loss in Financial industries and demand decrease and so people not willing to spend and try to raise money in shape pf saving for bad time which is coming in few days and now .So if people didnt interested in spending and reduce demand and that will indication deflation is very close to EURO REGION and now ECB more force to cuting rate .
CRADIT RATING
S&P500 and Moody.com and Fatich Rating have been cut Cradit Rating of Euro Region Economies like Ire Land ,Portgal, Spain, Hangry and Poland and more cuting in pipe line due to Rasing Cradit-Default Swap index Rasing in mostly Economies of Euro and Also leading companies under Cradit Cuting every day cradit Default Swap raise every day with 20 Basies point to 30 Basies points and its fastest rasing rate ."Credit-default swaps on the benchmark Markit iTraxx Financial index of 25 European banks and insurers climbed 5 basis points to an all-time high of 159, according to JPMorgan Chase & Co. prices at 11 a.m. in London. Contracts on the Markit iTraxx Financial index of subordinated debt soared 15 to 315
Derivatives on the subordinated debt of European insurers also rose, with Allianz SE, Europe’s biggest insurer by market value, quoted 37 basis points higher at 180, according to CMA. Contracts on Hanover Re were quoted up 24 basis points to 170 and Assicurazioni Generali SpA, Italy’s biggest insurer, was up 23 to 175. Munich Re, the world’s biggest reinsurer, increased 14 to 156 and Zurich Insurance Co. rose 22 to 183, CMA prices show.
A basis point on a credit-default swap contract protecting 10 million euros ($12.9 million) of debt from default for five years is equivalent to 1,000 euros a year.
Credit-default swaps on the subordinated debt of Bank of Ireland Plc, Ireland’s biggest lender by assets, soared 171 basis points to a record 1,000, according to CMA Datavision prices. Contracts on the junior debt of Allied Irish Banks Plc spiked 99 basis points to a record 1,000, while Anglo Irish Bank Corp.’s lower-ranking debt were unchanged at 1,477 basis points.
Monetry Policy And Fiscal Policy
Still one thing is most dangrues for Euro Region is that Monetry Policy and Fiscal Policy not jointly doing work Fiscal Policy alone runing to handel crisis and that will never in faver of Euro region due to one tool is only raise Badget Deficit because all economies of Euro Region trying to prevent crisis alone with out monetry Policy its will raise more Badget Deficit and Push all Euro Region toword Cutting Cradit Rating .But other hand USA combine run its Fiscal and Monetry Policy FED have already raise its leanding and hold more then $1.5T Value Assesst. and prevent the failing Banks and other financial Institution ,also spend money for husing stabilty .And now Mr.Obama want to save more then 3.5M jobs or creat .Fiscal Policy pump more then $1.5T for creating or saving more then 3.5M and now Mr.Obama spend money in new school Bulding, Bridge, Health care ,Road and housing stabilty and try to people stay at home.
UK also using same tool and tryign to prevent Reccission Bank Of England cut its main interest rate and bring it to 0.50% from 1% and that is still lowest level of 1694 when Bank Of England was found .And Mr.Growdn Brown allowed Bank of England to spend more then 70 Billion Pound and purches assesst of Banks and also Mr.Growdn Brown announce more Package from its Fiscal policy to stop cutting jobs ,failing home values
But still ECB in dalima interest rate are still high in major Economies of World which is now at 1.50% and USA 0.25 and UK 0.50% ECB interest rate still high more then 125 Basises points to USA and 100 Basises points to UK so first of all its need to sut i mean sharp interest rate cutting and then must be inject money in market in shap of Purchsing assesst .
ECB DALIMA
ECB if announced ECB will purches Bound or Treausry then which country Bound will buy ,Ireland, Purtgal,Hangrey,Poland Spain all facing cradit Rating cutting and more risk raise according to Cradit -Default Swap indicting .So ECB in difficult time and its first Reccission .
According to my thought its time to cut rate more sharp then normal cutting . And more Euro will fall . And now its might be reached at 1.1500 during this month
And more pain for Euro Finance Minsters resist any new Pump money for prevant Crisis through Fiscal Policy so We can say Euro region People in pain due to less help from Govt. and more jobs in cuting and home values decreas only one way remaining thing is that Monetry Policy Now i think ECB will start Sharp cuting and bring its Rate close to Zero or at Zero very soon because of cuting rate and then announce more money for purching Assesst of Bad banks and try to stabilty in Financial mrket and raise confidance of People in Eruo Region look it what happen if will happen as i think then we can say Sharp cuting force tarder sell euro and buy dollar according to my thought .
Faiz Rasool
  • #73,355
  • Mar 10, 2009 4:26am Mar 10, 2009 4:26am
Quoting derek
may be this variant
Derek i can see you moved your t/p to 2800, just wondering if are willing to set s/l with some profit in case it goes below 2700 towards 2650?

As i`m not so optimistic as some of you guys ill say it again, after big bounce up or down there is always some pull in the opposite way. After yeasturdays low of 2550 we now had 2740 high its almost 200 pips move. I wouldnt count for another move up to 1.3000 before we can test last lows, happend before and i think it will happen again. Without very important news moving it 200 pips day by day in current worldwide situation - extremly difficult. If we are going to go up we may watch it to bounce back if not to lows of 24xx or 23xx at least 25xx.
By the way if it gets to ~2650 i`m out for the rest of the day.

Good trading guys :-)
  • #73,356
  • Mar 10, 2009 4:31am Mar 10, 2009 4:31am
Quoting dollar_euro
MONEY SAFETY
[size=3]Now a new dalima for Globel Economy and spacilly for Major economies of world like Euro rigion $12 T economy in sever cndition due to one main thing is that other nation like USA, UK use its Fiscal and Monetry ploicy for handling crisis like Fed lending all its main banks and finacial institution and Manufacturer Cititbank, Bank Of Amrica Carporation, AIG World largest Insurer ,General Motor world Largest Car Maker ,Crcleyer LLC USA 2rd Largest car maker and Ford Motor all geting loan from Fed (Centeral...

Welcome to my ignore list
Traders are smartasses
  • #73,357
  • Mar 10, 2009 4:36am Mar 10, 2009 4:36am
Quoting Spsantos
Welcome to my ignore list

LOL, RIGHT
New voice message: Why are you calling me? If I need you, I'll call you!
  • #73,358
  • Mar 10, 2009 4:37am Mar 10, 2009 4:37am
If I were'nt long already I think I would long now at 1.2717.
Good Trading. (keep it simple).
  • #73,359
  • Mar 10, 2009 4:41am Mar 10, 2009 4:41am
Quoting Spsantos
Welcome to my ignore list
LOL
Dollar_Euro should place that bit of news in the "News" section of FF. Share it with the community ... not just this thread.
  • #73,360
  • Mar 10, 2009 4:44am Mar 10, 2009 4:44am
I sure wish this pair would make up it's mind!!!
Doing what you like is Freedom. Liking what you do is Happiness.
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