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  • #133,921
  • Aug 21, 2009 10:21am Aug 21, 2009 10:21am
Quoting dimaxx
I blew up my account!
1000$ went to someone smarter than me.
I feel so bad!
Hope it was demo
you were nt trading 10:1 were you? or 100:1 ? AAHHH!!!
If your just starting out consider it tuition, an expensive lesson
my first blown real account was $3k
It took me 4 months to wipe it out, I wept
nothing like a mistake to make you smarter

(cue 80s hair-metal power ballad)
(roll credits)
  • #133,922
  • Aug 21, 2009 10:28am Aug 21, 2009 10:28am
"Deja vu" from NFP......

Already strong Euro inflated out of proportion by the big boys, than...


Surprise surprise ! Massive Stop Hunting !

I was kind of lucky on Non Farm coming out in profit, but not this time, completely expected .
  • #133,923
  • Edited 10:43am Aug 21, 2009 10:29am | Edited 10:43am
Quoting Byrd
If we finish the day in this area or below (notice the wicks), looking at the daily and weekly one could expect sub 1.40 in the up coming weeks/months.

The bond auctions and the reasons I posted earlier also help this idea. Thanks to those for this info and the EHS previous reactions.

ye i would like to see that ...sub 4000 will be great buy area ... i did enjoy today trading upper time frames less hastle ...longed usd/chf shorted eur/usd complitely ignored news didnt even bother to check them till now ...fundamentals works but tech on upper timeframes works even better at least for me ...i am of to dirty bike racing...have a nice weekend
  • #133,924
  • Aug 21, 2009 10:30am Aug 21, 2009 10:30am
We might see this blow right thru 1.33 towards end of the day or Monday
  • #133,925
  • Aug 21, 2009 10:32am Aug 21, 2009 10:32am
Quoting vinesh2
We might see this blow right thru 1.33 towards end of the day or Monday
1.33??
  • #133,926
  • Aug 21, 2009 10:34am Aug 21, 2009 10:34am
Sorry 1.433
  • #133,927
  • Aug 21, 2009 10:38am Aug 21, 2009 10:38am
Quoting Domas4
There is a bullish bat for ya


I acted on this ...sweet basketball match
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  • #133,928
  • Aug 21, 2009 10:44am Aug 21, 2009 10:44am
Quoting kawser
Trading system is only 2% of forex trading,48% is following the rules and
the rest 50% is money management.........

and think that you will face at least 100 pips loss per trade...........

Thanx and regards...........
Just want to ask.... Can you give me a reason why most part of succesfull trading is MM ?
  • #133,929
  • Aug 21, 2009 10:46am Aug 21, 2009 10:46am
hope the weekly close will be below 1.4250..in next 2-3 hours we can see this below 1.4250....

Good luck to all
  • #133,930
  • Aug 21, 2009 10:52am Aug 21, 2009 10:52am
I'm still short @ 1.43 hoping for a 4250 in few hours...
Can anybody give me some advise?

thanks

zz
Jacko's turtle
  • #133,931
  • Aug 21, 2009 11:10am Aug 21, 2009 11:10am
Quoting Wlfx
Just want to ask.... Can you give me a reason why most part of succesfull trading is MM ?
Because: 1. it's easier to accept s/l
2. You always have a reserve to join the market in perspective point
3. You have the opporunity to hedge... etc
  • #133,932
  • Aug 21, 2009 11:21am Aug 21, 2009 11:21am
Quoting Wlfx
Just want to ask.... Can you give me a reason why most part of succesfull trading is MM ?
Yes you can ask............

And the answer is:
I believe there are so many systems which are profitable consistently....I believe at least..........

But if you don't use money management and you are not disciplined then you are just not following the real system of trading whatever your trading system is...

And why money management get that type of huge average in trading......As when you are not following then you will start trading with 100 times leverage and you will blow your account with only 100 pips ups and down.....And if you use 200 times leverage then fifty pips is enough to blow you from the market....

Yes when you know money management then it is little part of trading as you know it..........But think if you don't know it then how much dangerous it not to use Money management in your trading.......

Personally I use 5 times leverage in my trading and risk per trade 100-200 pips plus minus what my system says......So I risk 5-10% per trade........And my weekly target is little 100 pips......
  • #133,933
  • Aug 21, 2009 11:23am Aug 21, 2009 11:23am
Quoting Wlfx
Just want to ask.... Can you give me a reason why most part of succesfull trading is MM ?
I'm not sure I understand your question but I'll give what I see as important concepts in MM. Not risking too much in one trade with your SL. If you're wrong, you're wrong. Take the small loss and move on to the next set-up. Even if right after it hits your SL it reverses and would have been a gainer. It's better to see that than make a SL too big for your account size and lose that larger amount. You hit a bad streak of 3-4 loss trades and really cripple your account it would be a bummer.

I also feel a profit to loss ratio...P/L ratio should be at least 3:1 with 5:1 being much better. That means targets three times the size of your stop. If your stop is 30 pips your targets should be 90 pips. So then you can be wrong twice and right once and still be making money. You don't want to set your target too far out there though. Sure it makes for a great ratio but if you aren't hitting them in a timely fashion it could cause you to lose gains to retrace and wind up with small gainers, break evens or worse....losses on trades that were nice gainers to begin with.

5:1 ratio would be like stop of 20pips and target of 100pips. That way you could be wrong 4 times and right only once and still be making money. If you are losing that many trades to winners you really need to change your strategy but at least you still up...lol
  • #133,934
  • Aug 21, 2009 11:29am Aug 21, 2009 11:29am
ZumZum we are not going to go to to 1.425 today atleast unless a meltdown moves happens to stop ppl. Depending on your trading style whther scalping or positionin trading price will reach 1.4250 eventually but maybe not today or maybe not next week. It all depends on your time horizon imo we will see much lower prices in the next couple months. I am a position trader so it may take a mont or two to get to my target. If I was you would put a SL and forget about it. Price has taken out 1.33 and that will now act as support so price may just range for a litte bit
  • #133,935
  • Aug 21, 2009 11:46am Aug 21, 2009 11:46am
Quoting vinesh2
ZumZum we are not going to go to to 1.425 today atleast unless a meltdown moves happens to stop ppl. Depending on your trading style whther scalping or positionin trading price will reach 1.4250 eventually but maybe not today or maybe not next week. It all depends on your time horizon imo we will see much lower prices in the next couple months. I am a position trader so it may take a mont or two to get to my target. If I was you would put a SL and forget about it. Price has taken out 1.33 and that will now act as support so price may just range...
I say we are going to see some higher prices, then some lower prices. Before we are all dead. So just put in a stop loss and forget about it. Fuhgeddahboutit.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #133,936
  • Aug 21, 2009 11:52am Aug 21, 2009 11:52am
Sorry I meant 1.433 not sure why i keep coming to that target
  • #133,937
  • Aug 21, 2009 11:52am Aug 21, 2009 11:52am
Quoting vinesh2
Price has taken out 1.33 and that will now act as support so price may just range for a litte bit
I like your typos
  • #133,938
  • Edited 12:51pm Aug 21, 2009 11:58am | Edited 12:51pm
Quoting gatorinla
im posting this as a record.. s/p is currently 1007.20. my chart from a few weeks back said 1022.79 was the ph.. i dont know if it works on s/p so we will c,.
i posted these numbers last night i got. i never put a calculator to them until now.. the exact # is 1023.53... we have passed it now.. on my pn on eu we usually do some but not always.. its has gone today as high as 1025.90 according to this chart.. currently 123.30..... im not taking any long eu at this level... for this reason.. but this is the first time i have ever used this chart method for the s/p...so take this with a grain of salt..
and this stands in front a freight train...there is a lot of talk about housing in places like California, Nevada, Florida... let me throw this out there.. 1 in 17 homes in Connecticut are in foreclosure or 90 days late on mortgage. cali unemployment now over 11%...

added later: just did it on the dow,,, it shows 11135.63 current 9490.99
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those who can, do. those who cant, talk about those who can
  • #133,939
  • Aug 21, 2009 12:00pm Aug 21, 2009 12:00pm
@ $$$ , kawser , Pipsta

At First thanks to you all for your reply.

The reason why i ask is, that i interpret MM as a "Balance of account", and IMO MM have nothing to do with 50% of trading to be succesfull at least for me beacuse i am a short term trader(scalper). Just want to know how do you use this at higher TF's and for long time trading. Because i give more attention to my win ratio which is more important(R:R too) rather than how much i am risking per trade. For me it's all about how many times i am right or wrong. I am just using MM in this style of trading...Lets say you do not risk more than 2% per your trade, I just use account that can be blown when i have 10 looses in a row. This is my account size. If my win ratio is above 80% and 1:1.5 (loss/win) so i am going to get results= +1 +1 +1 -1 +1 -1 -1 etc. Ok now what if your win ratio is below 50% and R:R-1:1(mean your entries and exits are not so good) what can do MM with your trading if you are consistently loosing ? This is why i think the most part of succesfull trading is based on win ratio and R:R and not @ 50% MM at least for scalpers.

Thank you and have a good weekend.
  • #133,940
  • Aug 21, 2009 12:12pm Aug 21, 2009 12:12pm
Predict a close around 1.4270. No analysis whatsoever, just a number that came to mind. So let's see if it's right or way off.
Write it in a forum and it happens
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