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  • #75,761
  • Mar 15, 2009 8:38pm Mar 15, 2009 8:38pm

I do not forget that we have opened this 1H bar below 2876


http://www.forexfactory.com/showthre...88#post2602288
The best thing that can happen to you is to find out where you're wrong.
  • #75,762
  • Mar 15, 2009 8:42pm Mar 15, 2009 8:42pm
Quoting KillerWhale
I wonder if there are hard figures about how many people fail, bearly make it or be successful in fx. I have no clue were to find them.
I have some hard figures on that but they are from 1998 and only one brokerage house.

In a 3 month period (Sept - Dec) 500 new traders (accounts less tha a year old), with the exception of 3 all had lost, or were in the process of losing their trading capital. Minimum account size was $5000 and the average number of new accounts was 50 per day. Which translates to around $50 million in annual losses.
  • #75,763
  • Mar 15, 2009 8:51pm Mar 15, 2009 8:51pm
one account 3% margin used average 1.2933 short.

After close later my short principal account average 1.2866 but 8% margin use, yes 8% I broke my rule here, that's why I closed all shorts at that time.

now average 1.2891 2% Margin use.

I have Mental SL, will not public, sorry, but it is not a wide SL, if cross the number I have in my head, I will go flat the rest of the week.

GL all
  • #75,764
  • Mar 15, 2009 8:52pm Mar 15, 2009 8:52pm
here is a picture of a perfect pin bar that has formed on the 4 hour chart. price is currently above the pin's high.
Attached Image (click to enlarge)
Click to Enlarge Name: chart1aa.JPG Size: 100 KB
  • #75,765
  • Mar 15, 2009 8:53pm Mar 15, 2009 8:53pm
Bumping right up against the daily 50ema... and I still be bullish and long from 2874.
Attached Image
FUBAR...
  • #75,766
  • Edited 9:05pm Mar 15, 2009 8:56pm | Edited 9:05pm
Quoting dysan4x
I have some hard figures on that but they are from 1998 and only one brokerage house.

In a 3 month period (Sept - Dec) 500 new traders (accounts less tha a year old), with the exception of 3 all had lost, or were in the process of losing their trading capital. Minimum account size was $5000 and the average number of new accounts was 50 per day. Which translates to around $50 million in annual losses.
Thanks for providing some reliable data on the failure rate. This is eye opening. These were the initial days. Most retail traders I know started currency trading in early '90s, many of them from 1995. However, the successful ones had traded real estate or stocks (or both) before entering into currency trading. One thing is common among all successful traders I know....... non of them was under-capitalized when they started.
The Thief of Wall Street
  • #75,767
  • Mar 15, 2009 8:57pm Mar 15, 2009 8:57pm
I stepped away from my Compy.

I INTENDED my pending order to get me LONG from 838.

I get back, and I'm SHORT instead.

I MIGHT wait... weren't we saying that 1.3 is our bounce spot??

  • #75,768
  • Mar 15, 2009 9:02pm Mar 15, 2009 9:02pm
A worse mistake is when you enter an order you did not want to do and then leave it open to "wait and see", whether it turns into a winner in the end.

Trade you plan, plan your trade.
  • #75,769
  • Mar 15, 2009 9:04pm Mar 15, 2009 9:04pm
gap has filled--no short signal yet but i am watching--weekly looks like it is screaming long-daily over bought but not bad
  • #75,770
  • Mar 15, 2009 9:08pm Mar 15, 2009 9:08pm
Is the opening gap filled?
The Thief of Wall Street
  • #75,771
  • Mar 15, 2009 9:08pm Mar 15, 2009 9:08pm
http://i157.photobucket.com/albums/t...tire/5min7.gif
  • #75,772
  • Mar 15, 2009 9:18pm Mar 15, 2009 9:18pm
.2800 before .3000

This is little bull has had it's fun... reality should set in this week.

m
  • #75,773
  • Mar 15, 2009 9:20pm Mar 15, 2009 9:20pm
i really like to see price up around 1.2929 , n create lower high, i will short from around there , with s/l.1.2970 n t/p 1.2809 -1.2775
hmm..except pa down now, n try form invert shampoo at 1h tf.
just waiting..
  • #75,774
  • Mar 15, 2009 9:29pm Mar 15, 2009 9:29pm
Quoting sed
i really like to see price up around 1.2929 , n create lower high, i will short from around there , with s/l.1.2970 n t/p 1.2809 -1.2775
hmm..except pa down now, n try form invert shampoo at 1h tf.
just waiting..
Looks like a bull flag on the 1 hour if you look at the move to 2834 as "background noise"
Attached Image
  • #75,775
  • Mar 15, 2009 9:39pm Mar 15, 2009 9:39pm
Quoting akirax
Looks like a bull flag on the 1 hour if you look at the move to 2834 as "background noise"
not really, i look move to 1.2834 as important point to make lower low.. n then pa going up to create lower high from last last higher high 1.2954.. that mean price just forming reversal signal..
but of course im still waiting other signal..
  • #75,776
  • Mar 15, 2009 9:39pm Mar 15, 2009 9:39pm
Quoting dysan4x
I have some hard figures on that but they are from 1998 and only one brokerage house.

In a 3 month period (Sept - Dec) 500 new traders (accounts less tha a year old), with the exception of 3 all had lost, or were in the process of losing their trading capital. Minimum account size was $5000 and the average number of new accounts was 50 per day. Which translates to around $50 million in annual losses.
I can only think it is worse now.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #75,777
  • Mar 15, 2009 9:43pm Mar 15, 2009 9:43pm
New recommendation.

STAY THE FUK OUT!!!!!!!!!!!!!!!!!
  • #75,778
  • Mar 15, 2009 9:51pm Mar 15, 2009 9:51pm
161.8 Fib extension of this bearish bat comes to the exact previous bottom of 1.2833 = my target.


Attached Image (click to enlarge)
Click to Enlarge Name: $.gif Size: 26 KB
  • #75,779
  • Mar 15, 2009 9:57pm Mar 15, 2009 9:57pm
Quoting sed
not really, i look move to 1.2834 as important point to make lower low.. n then pa going up to create lower high from last last higher high 1.2954.. that mean price just forming reversal signal..
but of course im still waiting other signal..
so you are looking for a double bottom at 2834..
  • #75,780
  • Mar 15, 2009 10:07pm Mar 15, 2009 10:07pm
Quoting akirax
so you are looking for a double bottom at 2834..
no im looking price move higher to around 1.2929 ( + another signal), so i can short , with my target around 1.2800..

Quoting sed
i really like to see price up around 1.2929 , n create lower high, i will short from around there , with s/l.1.2970 n t/p 1.2809 -1.2775
hmm..except pa down now, n try form invert shampoo at 1h tf.
just waiting..
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