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  • #106,161
  • Jun 4, 2009 10:14am Jun 4, 2009 10:14am
jim rodgers on cnbc now.. he's talking about a currency crises in one or two major currencies. he says one or 2 major currencies may calapse this year or next.
those who can, do. those who cant, talk about those who can
  • #106,162
  • Jun 4, 2009 10:16am Jun 4, 2009 10:16am
Quoting arthurb
Thank you for your very professional advice, i will try to follow your advices, thanks again, and i hope you will do the same tomorrow, so you will have a very healthy demo account in the summer.

BTW what leverage do you use 400:1 ?
I am very unfortunate bcs i trade euro futures only and the leverage is somewhat different there, you professional traders are blessed with your leverage.

Peace of course and GL on your demo.

Was there any real need to be so nasty? The guy thought you needed help so he reached out. How was he to know that you have experience so didn't need his advice?

Better to answer..."thanks mate but I already have experience in the field and what I actually suggested in the orignal post was that the traders that are earning 11%+ per day are probably over leveraged". In fact had you just skipped the sarcasm in the first place this chap would not have thought you required his help and any traders generating 11%+ could have come straight at you.

It never ceases to amaze me just how brave people become when they're on the other side of a computer screen.
  • #106,163
  • Jun 4, 2009 10:20am Jun 4, 2009 10:20am
Quoting gatorinla
jim rodgers on cnbc now.. he's talking about a currency crises in one or two major currencies. he says one or 2 major currencies may calapse this year or next.
Did he name them or we should just imply that's about USD and GBP?
  • #106,164
  • Jun 4, 2009 10:22am Jun 4, 2009 10:22am
Quoting gatorinla
jim rodgers on cnbc now.. he's talking about a currency crises in one or two major currencies. he says one or 2 major currencies may calapse this year or next.
Well he's been a US$ bear for as long as I've known about him - do you think he is suggesting that it may be the US$ by any chance?
Nothing worth having is easy.
  • #106,165
  • Jun 4, 2009 10:25am Jun 4, 2009 10:25am
Quoting notch
Was there any real need to be so nasty? The guy thought you needed help so he reached out. How was he to know that you have experience so didn't need his advice?

Better to answer..."thanks mate but I already have experience in the field and what I actually suggested in the orignal post was that the traders that are earning 11%+ per day are probably over leveraged". In fact had you just skipped the sarcasm in the first place this chap would not have thought you required his help and any traders generating 11%+ could have come straight at you.

It never ceases to amaze me just how brave people become when they're on the other side of a computer screen.


Thanks. My english actually isnt that good. Even on his 2nd post I was not sure wether he is making fun of me or not.

Anyway, I'm certainly not overleveraged and nowhere suggested to do that. Its just that I m using more of a scalping approach. And if I see I have a good entry at a key level with scalping sized SL / load, then why not take it and ride the full move if possible?
  • #106,166
  • Jun 4, 2009 10:25am Jun 4, 2009 10:25am
Quoting notch
Was there any real need to be so nasty?...
11%/day... LOL.

Do some simple math... they would be billionaires trading any real account.

Let me help you out...

NO ONE has every earned 11%/day with any consistency.

As far as I know... that is proven... the worlds greatest day trader averaged 40%/month for 3 or 4 years and then dropped down to 10 or 15% in the last few... and he is on the Forbes list.

m
  • #106,167
  • Jun 4, 2009 10:25am Jun 4, 2009 10:25am
Quoting Nene
This thing is following the Forex 101 manual here with a nice classic UTL break and test, then continuation. As I said, by the book and may be the beginning of a nice little trend down.

NE
Thanks, when you posted that it made me draw this instead. It took too long or would have posted earlier. My partial TP reached off the pivot low.
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  • #106,168
  • Jun 4, 2009 10:26am Jun 4, 2009 10:26am
Quoting Patience
Well he's been a US$ bear for as long as I've known about him - do you think he is suggesting that it may be the US$ by any chance?
Might give US export a nice impulse.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #106,169
  • Jun 4, 2009 10:29am Jun 4, 2009 10:29am
I have a long now 9 pips green.
Against my bias, but who knows, maybe my bias is wrong?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #106,170
  • Jun 4, 2009 10:30am Jun 4, 2009 10:30am
Quoting KillerWhale
Might give US export a nice impulse.
Vegas here I come. The US of A will be the hottest tourist destination on earth ....
Nothing worth having is easy.
  • #106,171
  • Jun 4, 2009 10:31am Jun 4, 2009 10:31am
Quoting acumen
11%/day

m

Mate, where did I state that 11% per day is possible? I'm really not bothered what people claim, I just think people should be treated with respect. That is the message of my previous post. I'll ignore your sarcasm.



>>>>As far as I know... that is proven... the worlds greatest day trader averaged 40%/month for 3 or 4 years and then dropped down to 10 or 15% in the last few... and he is on the Forbes list. <<<<


Interesting potential fact alert: Does anyone know the trader's name?
  • #106,172
  • Jun 4, 2009 10:37am Jun 4, 2009 10:37am
so far he never out right named them.. dont believe the euro cant be in the mix..europe loves to fight.. read history books..
those who can, do. those who cant, talk about those who can
  • #106,173
  • Jun 4, 2009 10:38am Jun 4, 2009 10:38am
Quoting notch
Mate, where did I state that 11% per day is possible? I'm really not bother what people claim, I just think people should be treated with respect. That is the message of my previous post. I'll ignore your sarcasm.



>>>>As far as I know... that is proven... the worlds greatest day trader averaged 40%/month for 3 or 4 years and then dropped down to 10 or 15% in the last few... and he is on the Forbes list. <<<<


Interesting potential fact alert: Does anyone know the trader's name?
I just thought I would add my 1/2 cent.

John Arnold... the energy trader.
  • #106,174
  • Jun 4, 2009 10:41am Jun 4, 2009 10:41am
Quoting Alihuzaifa
here is ur neckline broken...


Hey Alihuzaifa I'm been trying to tweak my EMA settings, and assuming you Buy Sell indicator is based on that, What are the settings you are using they seem to be point on?

Thanks
  • #106,175
  • Jun 4, 2009 10:44am Jun 4, 2009 10:44am
short at 1.42109, SL at BE
  • #106,176
  • Jun 4, 2009 10:48am Jun 4, 2009 10:48am
Quoting TrooperCoope
Thanks. My english actually isnt that good. Even on his 2nd post I was not sure wether he is making fun of me or not.

Anyway, I'm certainly not overleveraged and nowhere suggested to do that. Its just that I m using more of a scalping approach. And if I see I have a good entry at a key level with scalping sized SL / load, then why not take it and ride the full move if possible?


No worries. He has delusions of being John Arnold. Happy pippin.
  • #106,177
  • Jun 4, 2009 10:48am Jun 4, 2009 10:48am
Quoting Nene
This thing is following the Forex 101 manual here with a nice classic UTL break and test, then continuation. As I said, by the book and may be the beginning of a nice little trend down.

NE
I will assume your TL breaks and tests are what I've highlited in aqua on your chart... If I'm wrong please correct me and I'll take it all back.

Sorry, but all I see is a 15m chart with price nicely contained within current Hzl (horizontal) S/R levels roughly shown by the yellow bars.

Any news generated or other PA outside of them (in pink) that returns to previous levels... I regard it for what it it was, delete the diagonal TL if I even have it on my chart, and move on, especially if IT'S contained within higher TF boundaries... why see and post things that may not be there?

Lots of Sideways PA trading sideways thru so called diagonal Trend Lines does not a Trend Line Break make no matter how many times calls or charts get posted to that effect.

Some of you guys better start deciding what the difference between a "pierce" or "penetration" of some level on some TF means and what may have caused it (especially low TF's) as opposed to a "Break" of that level which then gets "cleared" by price establishing itself on the OTHER SIDE of that level, all relative to the TF involved of course.

All this low TF Diagonal TL/Channel Break stuff thats been posted here for months now (long before you got here Nene, so don't take that personal..) makes for ALOT of sexy posts and charts but I'd be interested in knowing how many noobs here trying to understand PA get pulled and whipsawed into bad trades, demo or otherwise by that sort of thing during what is essentially Range trading?

In other words, w/o higher Highs or Lower lows on an intelligent and appropriate TF, what got broken besides some line drawn on a chart and why would that matter? You willing to lose the rent or grocery money over that?

Till then it's all inconclusive and one's trading strategy should take that into account however one sees fit... But posting "reversals" on the basis of that chart... well, I guess I have a different Forex 101 book than you.
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FUBAR...
  • #106,178
  • Jun 4, 2009 10:49am Jun 4, 2009 10:49am
Quoting TrooperCoope
short at 1.42109, SL at BE
Me too again similar to the previous one, See what happen this time .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #106,179
  • Jun 4, 2009 10:51am Jun 4, 2009 10:51am
Quoting acumen
LOL.


Mikey, come and Take Me Away bro....

((I'll pay you 11%!!! Heck I'll double it!!))
FUBAR...
  • #106,180
  • Jun 4, 2009 10:51am Jun 4, 2009 10:51am
Quoting acumen
11%/day... LOL.

Do some simple math... they would be billionaires trading any real account.

Let me help you out...

NO ONE has every earned 11%/day with any consistency.

As far as I know... that is proven... the worlds greatest day trader averaged 40%/month for 3 or 4 years and then dropped down to 10 or 15% in the last few... and he is on the Forbes list.

m
Absolutely right. If only people would take the time to calculate how much they need to earn daily with compounded earnings rather than go for the big hits every day.
However, don't forget Larry Williams did 1000% in 1 year to win the World championship. 10,000 into 1 million. I believe that's something less than 3.5% per day.
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