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  • #109,941
  • Jun 12, 2009 9:49pm Jun 12, 2009 9:49pm
Quoting Duce
Jay, I agree that SL are a form of insurance, but on some pairs, like the PoundYen, a sizeable and well funded account, paired with modest to small trades, is more important than a SL. That pair zigzags several times a day, everyday. You still need to make an educated analysis, but a SL there is like mailing in your money. If you're not well funded, you need SLs. My analogy would be using a bullet proof vest at a pillow fight.
I don't trade the Pound Yen but I am aware of the volatility.

But trading without a SL is not mailing your money in, it's mailing less money in.

You can have a sizeable and well funded account but how long will it be that way if proper MM, which an SL is part of, is thrown out the window?
Not all sins are created equal
  • #109,942
  • Jun 12, 2009 10:04pm Jun 12, 2009 10:04pm
Quoting Jay Walker
I don't trade the Pound Yen but I am aware of the volatility.

But trading without a SL is not mailing your money in, it's mailing less money in.

You can have a sizeable and well funded account but how long will it be that way if proper MM, which an SL is part of, is thrown out the window?
The forex market in any pair can turn on a dime...and then turn around again right after all the SLs are hit. I would consider small, modest trades made within a well funded account as good MM. I mostly swing trade and I'm desperately always looking at the big picture. If you read news, fundamentals and technicals with some sort of accuracey, you can make an educated guess on which direction the pair will move...not in a minute or an hour, but weekly. I'm not a conspiracy theorist, but I don't doubt that brokers and large institutions have software that can determine which way to move the market, just to crush SLs, and then return to business as usual and continue the trend.
Si vis pacem, para bellum.
  • #109,943
  • Jun 12, 2009 10:38pm Jun 12, 2009 10:38pm
Quoting Duce
The forex market in any pair can turn on a dime...and then turn around again right after all the SLs are hit....
We do agree on one thing, larger time frames are better.

I suppose that I have a certain bias as I trade larger time frames normally and use my SL as my TP. The idea being to gradually move the SL until such time as it's in profit.

My account is insignificant in the grand scheme of things so I doubt that brokers are out there conspiring against me.
Not all sins are created equal
  • #109,944
  • Jun 12, 2009 10:40pm Jun 12, 2009 10:40pm
Hey Jay... I see you found your way in thru the Malarkey. All I can say is "What's new bro?"

Samo Samo except for the occasional Isle of Sanity in the Sea of K.A.O.S. Keep rowing... Land Ho!!!

Fwiw, I see that someone tagged Carcour and altho I'd love to lay claim to that, I was late to the party. A HUGE NOD to Whoever tho, and hopefully the Group Consensus will prevail.

Forum disruption is Trollish behavior, end of story.

Personally I'm convinced no one can actually be that STUPID and remain functional for long in todays world w/o assistance, so the alternative explanation is he/they is/are not that Stupid, the whole thing is a Hoax, and the whole Room is being Had when the entire thread essentially gets hijacked by some Nefarious Nitwit.

Twee has indicated that Eggnogz issues are being looked into and I sincerely hope that he and this Carcur Clone are in fact the same person or group of parasites as a Multiple Username violation would greatly simplify the actions to be taken.

I've actually gotten a number of PM's encouraging me to "let it go" with regard to the Trolls (and a few posts as well) and while the prospect is attractive, I don't know how. Wired wrong I guess. I do appreciate the sentiment tho, and the support pm's.

Community is community tho, and I take that sort of thing pretty seriously. The Factory is an incredible place that I'm personally thankful for and I'm not aware of any public access non paid forums that offer the overall quality environment that can usually be found here, even if it ebbs and flows at times.

But sometimes you gotta pull the waders on and slog into the sewer to unclog the blockage. Twee and the team deserve a big Nod!!
FUBAR...
  • #109,945
  • Jun 12, 2009 11:01pm Jun 12, 2009 11:01pm
Quoting ak4x
Hey Jay... I see you found your way in thru the Malarkey. All I can say is "What's new bro?"

Samo Samo except for the occasional Isle of Sanity in the Sea of K.A.O.S. Keep rowing... Land Ho!!!

Fwiw, I see that someone tagged Carcour and altho I'd love to lay claim to that, I was late to the party. A HUGE NOD to Whoever tho, and hopefully the Group Consensus will prevail.

Forum disruption is Trollish behavior, end of story.

Personally I'm convinced no one can actually be that STUPID and remain functional for long in todays world w/o...
Hey Ak, I'm good. Too tired but good.

Got a big project unrelated to trading that I need to get done and it's keeping me busy.

I will not post anything about "letting go" but to keep it up. I'm sick and tired of the nitwits BS, with or without multiple user names.
Not all sins are created equal
  • #109,946
  • Jun 12, 2009 11:20pm Jun 12, 2009 11:20pm
Quoting Jay Walker
If you or anyone else has proof of that, please notify Twee immediately.
No proof, just noticed that he follows the same pattern as some other scammers, that as I've mentioned, I have fallen prey of.

Again, this is just my opinion, this person doesn't contribute to elevate the general education and growth of the people here, he instead likes to tease us about how good his system is and how many pips he makes. What is the point of doing that if he can't share it?

I know noobs get impressed with this kind of talk and that's the reason I came out, just to warn people. I've got my hands full trying to learn this business and develop my own system.

If ATM shows me that I'm wrong, I'll be the first to apologize.
If only I knew then what I know now...
  • #109,947
  • Jun 12, 2009 11:27pm Jun 12, 2009 11:27pm
Quoting Alexgee
No proof, just noticed that he follows the same pattern as some other scammers, that as I've mentioned, I have fallen prey of.

Again, this is just my opinion, this person doesn't contribute to elevate the general education and growth of the people here, he instead likes to tease us about how good his system is and how many pips he makes. What is the point of doing that if he can't share it?

I know noobs get impressed with this kind of talk and that's the reason I came out, just to warn people. I've got my hands full trying to learn this business...
I couldn't agree more with you. I have seen this same pattern time and time again.

Sign up for the forum, do some post padding to satisfy those who value a large number of posts (more posts means more authority ya know), brag about the ever mysterious system but when asked about it, don't ask but demand to be contacted by PM.
Not all sins are created equal
  • #109,948
  • Jun 13, 2009 1:06am Jun 13, 2009 1:06am
carcour was a fake?????


i felt so used... i actually feel sorry for him on the margin call
  • #109,949
  • Jun 13, 2009 1:29am Jun 13, 2009 1:29am
dont you people sleep? enjoy the day/night touch the grass feel the sun on your face.. you have a limited time to do it...

huh??? why im i here? aaaaaahhhhhhhh, i coundnt sleep...


have a good one...
those who can, do. those who cant, talk about those who can
  • #109,950
  • Jun 13, 2009 1:38am Jun 13, 2009 1:38am
Du you have a live chat room that we can disuss live instead of posting here
on skype or msn
if do please inform as i would to get some help during my trading hours
if their is please inform me will be great help
my skype is
redrsoe12346
msn is
[email protected]
hope so that i can get some help
Thanks
  • #109,951
  • Jun 13, 2009 1:43am Jun 13, 2009 1:43am
Quoting redrose
hope so that i can get some help
Thanks

What kind of help do you think you need ?
  • #109,952
  • Jun 13, 2009 1:49am Jun 13, 2009 1:49am
Don't worry, I won't bite your head off. Let's talk about the Euro.

There's only 7 of us in here right now (usually dozens or hundreds)
So we have the thread pretty much all to ourselves tonite.....For now.
  • #109,953
  • Jun 13, 2009 2:06am Jun 13, 2009 2:06am
Quoting redrose

Toshi u r really great in making pips

thanks
Listen this stuff is simple BUT it is not easy. Two different things altogether.

This simple part is buy the green (up) candles and sell the red (down) candles.
The part that is not easy is that when you are wrong, you must get out.

If your loss is small, you will have several chances to try again and some of your choices will be right.
  • #109,954
  • Jun 13, 2009 2:11am Jun 13, 2009 2:11am
If you lost 10 or 15 or even 20 pips and it was only a couple percent of your account,
you can try again even 10 times before you start to see something is very wrong with your trading.

If you instead lose 100 or 200 pips on one trade and it's 20 or 30 percent of your money,
you've got to make a lot of good trades just to break even and that means PRESSURE.
And then what ? You do all that work just to break even ? What about making money ?

So you break even and then something unexpected happens and you lose a little more than you expect
on several trades and you've wasted all that time for who ? Your broker and his spread/commission ?
Forget that noise. You'd be better off not trading and making zero rather than lose any money, right ?
  • #109,955
  • Jun 13, 2009 2:17am Jun 13, 2009 2:17am
So, keep you eye on those losses. don't try to scalp until you know how standard trading practices are conducted.

You wouldn't try to enter a professional race car competition if you've only been driving a car for one month, right ?

Would it be wise to fly a plane full of passengers after 5 or 10 flying lessons ?

How about trying to play rock n' roll with a live band (for money) after taking a few guitar lessons ?

Don't try to scalp until you know how to trade a trend. Just my opinion.
  • #109,956
  • Jun 13, 2009 2:21am Jun 13, 2009 2:21am
inshort if u want to start trading in professional way u need tools,plans and fixed targets to achive it.
  • #109,957
  • Jun 13, 2009 2:30am Jun 13, 2009 2:30am
RedRose,

Here. This can be so simple, if you let it.

Let's pretend (it's really not pretend though) that you have a new job.

You trade forex.

The first day/week/month/year they are not going to make you president of the company

Same with forex.

You have to work your way up. It could take a number of years.

Same with forex,

You can not do anything against the company's rules, or else you could get fired.
And then no promotions, no pay raises, no expensive stuff and no job.

same with forex.

You show up and do your work, whatever that might be, you perform your work properly and you get paid.
Not as much as the big managers, but you get paid something.

If you do your work wrong, or without attention to detail, or without caring what your work looks like,
then you get fired and again, no job.

same with forex.

I can go on, but I think you get the point. THIS IS A JOB. sorry to shout at you, but it's important.
You work for a business that you have started yourself and are expected to run your business responsibly.
If you fail to do so, then you will go out of business. Everyone who woks for your business will get fired.
Even though that's only you, that's everybody.

You have to be a good boss and a good worker. Be on time, work hard, and don't break the rules

OR ELSE, you guessed it,

you'll get fired.

same as forex.
  • #109,958
  • Jun 13, 2009 2:33am Jun 13, 2009 2:33am
Quoting Alexgee
No proof, just noticed that he follows the same pattern as some other scammers, that as I've mentioned, I have fallen prey of.

Again, this is just my opinion, this person doesn't contribute to elevate the general education and growth of the people here, he instead likes to tease us about how good his system is and how many pips he makes. What is the point of doing that if he can't share it?

I know noobs get impressed with this kind of talk and that's the reason I came out, just to warn people. I've got my hands full trying to learn this business...
Dear Alexgee, I have my sympathy with you & I see typical reaction of a victim in you and as you think you should aware others so you do come forum to forum to create some awareness.That very good/noble job but one thing you should understand that everybody may not be of same one assume.Just in case of forex , we predict many times that price should go here or there & open a trade but in real time it did not , took another course . Just got worry to take this unexpected loss /fraud/scam or whatever we say in despire actually it is our fault in failure of identification of the direction or if doubt not needed to take action beforehand. So what we do simply change our mind & give more attention & try again & again.
How many times we succeed in our plan but the joy not lasting more than few seconds & jumped for another & another untill one again with great loss. So the pain again to start. the vicious cycle will continue untill psychotic state of mind that something or some one or some kind of people ,trait are behind the failure ( obscession ) & start some kind of action in reaction ( compulsion ) like you are doing .

So please understand to cope with the wear & tear in life , justify old actions and plan for the new for present & future and not try scaling all with the same scale .

Thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #109,959
  • Jun 13, 2009 2:33am Jun 13, 2009 2:33am
Thanks for the advise toshi and Ali
I think from my view everyone has some weekness and i am trying to win that as i am a full time trder so looking for fast entry buy since last week i have chenged my timeframe from 5 M to an hour and 4 hour strategy
as got some good feed back from your all post here
it was nice to get some idea such as i like mohammed to where he is using candle stick too help where i never ever used much so each kind os sharing and expeirnce is geat help for me to avoid further mistakes
  • #109,960
  • Jun 13, 2009 2:49am Jun 13, 2009 2:49am
Ask yourself this question:

If I had two choices as follows, which one will I choose ?

Choice 1) You are offered a job at a store. The job pays $500 per week.
These are USD, so convert the money however you wish. It can be 10,00 Baht, if you like.

In one or two years, you'll make and save enough to buy the store.
at that time you can either keep your money and continue working for a wage,

OR

Choice 2) you take your money that you worked for and saved and you instead buy the store.
You now own your own business. You must hire someone to work for you and be responsible for everything,
including all the decisions that have to be made regarding running the business.

In the beginning, you might not make as much as you pay your helper, but in time ,
you could make 10, 20 or 50 times the amount you made when you were only an employee.

SO

Do you choose 1 or 2 ?

if you think it's safer to stay with choice 1, no more trading for you. It doesn't fit such a person.

If you've spent the time to learn the business and have earned enough to do this for yourself and
would rather be your own boss,and are not afraid to fail and have to start all over, maybe more than once,
and you choose 2, then if you don't give up, and continue to excel, you will become a professional.

As a professional, you will earn a professional income, not a wage.

You will be responsible for things that are beyond your control.
How you handle such responsibility will determine if you will succeed or fail.

and guess what ?

If you choose 2, then you may one day become a trader.

The choice is yours.
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