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Time frame and Enter/Exit, Time frame and S/L, T/P relationships.

  • #21
  • Apr 14, 2009 6:06am Apr 14, 2009 6:06am
I'm from the Stock world @8years back to, was making loads with a 10K account, then they brought in those stupid day trade rules and killed my margin and ability to go short and game over Switched to Options did okay for a few months then got greedy and blew the account over night really on a major market reversal
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #22
  • Apr 14, 2009 6:51am Apr 14, 2009 6:51am
well my friend

you better take a look at what the FTA is doing to forex with its signatory brokers and ECN's --- repeat of what they did to us years ago

think im heading to a european broker now

mp


Quoting Turveyd
I'm from the Stock world @8years back to, was making loads with a 10K account, then they brought in those stupid day trade rules and killed my margin and ability to go short and game over Switched to Options did okay for a few months then got greedy and blew the account over night really on a major market reversal
  • #23
  • Apr 14, 2009 9:05am Apr 14, 2009 9:05am
That figures I not long got Stocks cracked when they crippled me and I've just about got Forex cracked TYPICAL

FXCM.CO.UK likely isn't enough is it still a US company
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #24
  • Apr 14, 2009 1:19pm Apr 14, 2009 1:19pm
i use fxcm and have the question out to them --- waiting on answer

if they are sigs, im off to russia or china or borneo or someplace

i cant trade without flexibility cause thats the beauty of forex

mp
  • #25
  • Apr 14, 2009 4:47pm Apr 14, 2009 4:47pm
No doubt a stopping Scalpers to protect us cause Scalping is bad kinda play, when actually the only people making money are short term scalpers effectively. Same as the people they stopped trading Stocks who all went Forex

Keep us posted on that.

up 25% area on the account, with 2 STUPID Trades with Max Lots which get Margined in sub 2mins costing me 20% each doh!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #26
  • Apr 14, 2009 6:51pm Apr 14, 2009 6:51pm
dont think so from whats happening --- NOTHING said against scalping, but a whole lot of white collar crap talk about "hedging" and how is not profitable and how the "poor" trader is paying two commissions and all that crap.

fortunately, it only applies to those "brokers" and/or ECN's who belong to the Futures association, and most of europe does not and a lot of USA doesnt either

fxcm has NOT gotten back to me --- ive sent a duplicate email

whoooooooops on the trade !

mp

Quoting Turveyd
No doubt a stopping Scalpers to protect us cause Scalping is bad kinda play, when actually the only people making money are short term scalpers effectively. Same as the people they stopped trading Stocks who all went Forex

Keep us posted on that.

up 25% area on the account, with 2 STUPID Trades with Max Lots which get Margined in sub 2mins costing me 20% each doh!!!
  • #27
  • Apr 15, 2009 8:44am Apr 15, 2009 8:44am
Thats okay then, never seen the point of Hedging and have never done it or likely will, but I see how it affects you if you like to have 20trades some long some short at the same time totally.

20 accounts


Have a V on me aswell!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #28
  • Edited 1:05pm Apr 15, 2009 9:03am | Edited 1:05pm
for me its a disaster, quite literally

youve NEVER hedged ? BOY, have i got some things to show YOU !!!!

but there are plenty of european and other ways, all over the world

btw --- werent we having a negative discussion a while back ?

good to meet you ex-stock guy !

mike
  • #29
  • Apr 15, 2009 12:16pm Apr 15, 2009 12:16pm
good conversation...
  • #30
  • Apr 15, 2009 2:39pm Apr 15, 2009 2:39pm
Quoting mparker
for me its a disaster, quite literally

youve NEVER hedged ? BOY, have i got some things to show YOU !!!!

but there are plenty of european and other ways, all over the world

btw --- werent we having a negative discussion a while back ?

good to meet you ex-stock guy !

mike
No change for me, I'll relax and keep on mission then

No interest in hedging, I had 2 trades open different pairs and confused the hell outta me thats bad enough, had to dump both for -4pips to get back for a easy +120 Woman will be the death of me, or really dry cake!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #31
  • Apr 15, 2009 8:43pm Apr 15, 2009 8:43pm
boy o boy --- could i ever show you a few tricks, and i dont mean THOSE tricks !

without counter trades, i would die on the vine ---

you must be an "investor" huh -- whaddayado when the price reverses ?

mp
  • #32
  • Apr 16, 2009 3:33am Apr 16, 2009 3:33am
"Investor" LOL no chance using Forex for that is a mugs game, I'm a day trader / scalper well somewhere inbetween.

Over the last month 88% profit rate without averaging down then taking the huge losses which that will finally get you.

I did plan to use the Hedging facility for longer term trend trades to pick turning points and make some on the waves without a risk of losing, but nah too lazy.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #33
  • Apr 16, 2009 11:36pm Apr 16, 2009 11:36pm
spoke with FXCM today, and YES they are a signatory and they will be prohibiting hedging but they gave me the info to move account to england and get into their "select" traders (high volume, low spreads) group, so it will work out well.

now by "hedge" i dont always mean 2 positions in one currency as a counter trade, but often when trading the one or five minute, ill set some upside trades and downside trades, simply working the combinations of support and resistance --- as such, i can sit there feverishly entering trades (which i do when i want some fun or have the time) or simply set my tp's, both long and short, and go mix up some caviar or make an omellette or make love --- whatever tickles my fancy at the moment ---- BUT the trades are cooking and the pips are coming and i dont have to pay attention till the "cover" sound that fxcm platform makes, stops making noise.

then i need to set more trades

truly interesting how i trade that way and the reason i MUST have the ability to hedge.

mike
  • #34
  • Apr 17, 2009 8:37am Apr 17, 2009 8:37am
or make love

I don't think watching internet porn and abusing yourself is making love, unless maybe you love yourself

I saw that Low Pip account shame on the 25K+ requirement but it's something to aim for I guess, so my UK account is possibly unaffected then.

I'm more of your basic which way is the market moving, wait for a entry and go with the direction kinda trader rather than setting up loads of orders and hoping.

I also only have $340, up on the week from $223 so +50% on the week so far, 15 trades only 3 losers
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #35
  • Apr 17, 2009 8:53am Apr 17, 2009 8:53am
actually, the "which way did the masked man go, ma'am" is precisely the way i trade, although im a died in the wool trend trader --- entries into any position is of no great importance, BUT exits are what i pride myself on.

been teaching s+r over in the rookie section, and when i talk about "multiple" positions, its all based on the MANY resistance points within any ONE move. if you notice, on ANY timeframe there are MULTIPLE points where resistance is hit and we then bounce to support and then back up to the NEXT resistance point ---- since i can see those (and the newbs also now) we simply preset to reach those resistance points.

we dont "HOPE" because (with little error, btw) we already know where the price is going thru the tools we use, which are essentially linear regression channels which display historic support and resistance per the timeframe youre working in. Armed with this on the higher timeframes, we KNOW where the lowers will end up going, so its actually pretty simple as its simply looking at a chart, looking at a line, reading the value at that line and setting a tp.

we got newbs now making 120 pips overnight where they were losing just a few weeks ago because they havent learned a "system", but how to read the direction of the market, and trade with the trend.

makes me feel kinda good, actually !

mp




Quoting Turveyd

I saw that Low Pip account shame on the 25K+ requirement but it's something to aim for I guess, so my UK account is possibly unaffected then.

I'm more of your basic which way is the market moving, wait for a entry and go with the direction kinda trader rather than setting up loads of orders and hoping.
  • #36
  • Apr 17, 2009 11:33am Apr 17, 2009 11:33am
Fair play on training up the newbie's, I kinda stuck on making my system work for me though, it works great but I like today COCK it up hugely.

no.1 trade, Nice little profit :-
no.2 Got stopped out at the last high on the EurJpy right before it dumped.
no.3 Screwed up a EurJpy Long, and it dumped lower
no.4 Euro, combination of just caused a Margin call taking me out at the bottom.
no.5 back in Euro Long slightly up, missed EurJpy which woulda rocked again.

Life of a trader, ZERO Luck + bad trading = huge losses!!

Will live to trade another day though, DAMN!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #37
  • Apr 17, 2009 11:59am Apr 17, 2009 11:59am
when i first started my career in film (we going back one career at this point -- theres been 4) i was told that if you were trying to accomplish something and it kept kicking you in the nether regions, it was best to take a step back and take another look at HOW you were doing this.

after 20 years or so, i began to understand what was meant (obviously a slow learner !) and went with the "flow" of what was happening instead of trying to forge my OWN way ---- with that i became the number 3 man in womans fashion commercials, films and photography, but had to retire before the other 2 died and i could become number 1.

so when i went into trading, i took the same advice --- if you keep bashing your head against a rock, and the rock will not move, you better think up a new way of doing things or at least find a smaller rock.

i spent 8 years thinking up a new way, and discovered that the simplest of the OLD ways was just fine, and thats what i teach.

granted we have a wonderful trend going on for the past week, but ive now got newbs who made 500 pips today as a maximum, but the minimum was at least 250

simple cause theres NO rules, no real entries, no NUTHIN ---- just EXITS, cause you can enter anywhere, but you can only exit one place !

oftimes pride gets in the way of logic, at least with me it does, but there has to be a reason were now 2 threads, with massive views and newbies are making real bux !

cmon over, i wont tell anyone !

LOL

mp
  • #38
  • Apr 17, 2009 12:45pm Apr 17, 2009 12:45pm
Hello,

FXCM.co.UK (FXCM UK) is a separate entity and is authorized and regulated with the Financial Services Authority (FSA) of the United Kingdom.

You will be able to "hedge" if your account is opened with FXCM.co.UK

FXCM will make a formal announcement later next week, but I just wanted to clarify right now that FXCM UK is different.

If you have more questions please pm me or e-mail me at [email protected]

But as I said there will be a formal announcement some time next week that I will post.

Kindest regards,
Jaclyn Sales
FXCM
[email protected]







Quoting Turveyd
That figures I not long got Stocks cracked when they crippled me and I've just about got Forex cracked TYPICAL

FXCM.CO.UK likely isn't enough is it still a US company
  • #39
  • Apr 17, 2009 1:13pm Apr 17, 2009 1:13pm
FXCM dude, thanks I'm with UK Not that I hedge anyways!!

MP, I've trolled through your threads not going to say I understand it, but not possible with my limited account size sadly either way.

My system is REALLY good, trend based, good profits low risk ( IF DONE RIGHT ), I'm just struggling with the doing it right part.

Thankfully I can live off say 200pips per week easy at $2 per pip and I've got 2 months to get my trading there.

Conclusions on the day are :-

EuroUsd is a unfriendly jump around at random POS most of the time.
EuroJpy on the other hand, is 1 smooth operator, shame that got called +80pips max on it

Checking back all of my big losses are on the EuroUSD.

Time to pull the EuroUSD from my trading!!

GBPJPY trades exactly like the EURJPY but moves less, so thats my smaller rock backup I guess

Trading, it's a nitemare!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #40
  • Apr 17, 2009 2:08pm Apr 17, 2009 2:08pm
Hmmmmmmmmmmmmmmmmm



Last weeks performance, 20 trades in total

Euro 7 trades so 35% -£57.22
GBPUSD 2 trades so 10% +£66.46 NICE got to focus more on GBPUSD!!
EurJpy 11 trades so 55% , +£41.59

Total profit £50.83 Getting there, delete the Euro trades and £107 hmmmm.


Guess that decided it, Euro is GONE BABY!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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