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  • #148,481
  • Oct 1, 2009 3:36pm Oct 1, 2009 3:36pm
Quoting X.Oden
Mike,

I don't need help, but thanks for the offer. What do you need help with? Spit it out son.
Well, i'd like to see you're trading method what you do exactly, or if you can be my mentor
  • #148,482
  • Oct 1, 2009 3:38pm Oct 1, 2009 3:38pm
Quoting X.Oden
Who gives a shit what the pros do....just because the majority don't do it a certain way doesn't make their way right for everyone....there's always a better mouse trap. And I care what the pro's do why?

I dont want to pick on you my friend but you sounds like a tipical retail trader and a inexperienced one.

Mark my words......you will learn the hard way that hedging and scalping are for loosers.

Forex is not a place for creativity, if you think you can reinvent the wheel in this business your account is a dead man walking.
  • #148,483
  • Oct 1, 2009 3:43pm Oct 1, 2009 3:43pm
Quoting X.Oden
Oanda is a good broker. I traded with them for a bit. One thing I never understood with those guys is the BOX options...I was too impatient to learn about it I guess..
Yup, Kathy Lien is where I started way back when last winter. Her books/articles are some of the best out there for the newbie imho. I usually check out her stuff on fx360.com once a week. Boris, though, I'm not so sure about...

I have tried scalping euro futures and honestly I think I get fairer treatment (less slippage) from Oanda. I just have the BB, candlesticks & maybe a 100 or 200 SMA thrown on there so weak charting tools don't hurt me.

I would say don't let em grind ya down X but you a tough monkey so you don't need it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,484
  • Oct 1, 2009 3:47pm Oct 1, 2009 3:47pm
Mike,

I can't give ya my trading method.....and you don't even know if I'm a good trader, so my first tip to you is, find out about who you want as your mentor first..before asking them to be one!

I'm sorry, I don't mentor anyone anymore nor do I teach my method of trading. I use it to manage a large private account, therefore I cannot disclose it.

If you want help with how you already trade, I can give you some advice on what to read or maybe even what you're doing wrong if you show me some trades and tell me why you took it and what you're trying to accomplish.

Send me a private message with your email and if I have time I'll do the above for ya....but no promises and don't worry I won't charge you anything....and if I do, you can come on here and tell people what a scammer I am....














Quoting mikegonzalez
Well, i'd like to see you're trading method what you do exactly, or if you can be my mentor
In Charts We Trust!
  • #148,485
  • Oct 1, 2009 3:50pm Oct 1, 2009 3:50pm
Quoting Platypus
Mark my words......you will learn the hard way that hedging and scalping are for loosers.

Forex is not a place for creativity, if you think you can reinvent the wheel in this business your account is a dead man walking.
Plat, I respect your experience & I know you will say what you think. Now, we have long-term profitable traders who scalp & who post here and elsewhere on FF, and of course, there are pro traders who do so regularly for large amounts & you know it. They might not say scalp but rather "high-frequency trading" but of course its the same thing.

So, what are your specific arguments against scalping?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,486
  • Oct 1, 2009 3:51pm Oct 1, 2009 3:51pm
Wow, your wisdom precedes you. Thanks for the valuable advice. I'll keep that in mind.


Quoting Platypus
I dont want to pick on you my friend but you sounds like a tipical retail trader and a inexperienced one.

Mark my words......you will learn the hard way that hedging and scalping are for loosers.

Forex is not a place for creativity, if you think you can reinvent the wheel in this business your account is a dead man walking.
In Charts We Trust!
  • #148,487
  • Oct 1, 2009 3:58pm Oct 1, 2009 3:58pm
Quoting The Fool
Plat, I respect your experience & I know you will say what you think. Now, we have long-term profitable traders who scalp & who post here and elsewhere on FF, and of course, there are pro traders who do so regularly for large amounts & you know it. They might not say scalp but rather "high-frequency trading" but of course its the same thing.

So, what are your specific arguments against scalping?
Don't be fooled my friend !

In the pro world, people live out of scalpers hedgers etc...again don't be fooled.

I spent my whole professional life in another environement, now that I became a "retail" trader myself I decided to go and experience a little what retail traders think, thats why I'm here and it just amazes me.

If somebody is telling you that he scalps succesfuly for a long time HE IS NOT TELLING YOU THE TRUTH. Believe me!

Mark my words....if you go down the path of scalping hedging etc you will fail.
  • #148,488
  • Oct 1, 2009 4:02pm Oct 1, 2009 4:02pm
Fool,

If you're thinking about using momentum to help with your breakout style scalping method, you may want to consider using only the 200EMA couple with a much much smaller EMA for the actual breakout points....your 200 EMA can act as your general trend direction and double up as a dynamic pivot point. Then only thing left is to measure your breakouts and you can toss in a fib extension and just ride the breakout with momentum at these pivotal points....since you now have a destination using the fib extension, you can do what your'e doing and move your stops to BE once the trade goes your way and add to the winning trades as the momentum continues in your direction....at the peak of the movement, take half off the table, let it retrace and keep adding to the move until you hit your destination, moving your BE to each new position you add to the trade....this way, you compound your scalps risk free and they become large trades with not much risk than you're already using now. Just a thought.

Quoting The Fool
Yup, Kathy Lien is where I started way back when last winter. Her books/articles are some of the best out there for the newbie imho. I usually check out her stuff on fx360.com once a week. Boris, though, I'm not so sure about...

I have tried scalping euro futures and honestly I think I get fairer treatment (less slippage) from Oanda. I just have the BB, candlesticks & maybe a 100 or 200 SMA thrown on there so weak charting tools don't hurt me.

I would say don't let em grind ya down X but you a tough monkey so you don't need it.
In Charts We Trust!
  • #148,489
  • Oct 1, 2009 4:07pm Oct 1, 2009 4:07pm
Quoting Platypus
Don't be fooled my friend !

In the pro world, people live out of scalpers hedgers etc...again don't be fooled.

I spent my whole professional life in another environement, now that I became a "retail" trader myself I decided to go and experience a little what retail traders think, thats why I'm here and it just amazes me.

If somebody is telling you that he scalps succesfuly for a long time HE IS NOT TELLING YOU THE TRUTH. Believe me!

Mark my words....if you go down the path of scalping hedging etc you will fail.
Plat, I'm not much of a believer. If a man has an opinion he should have a reason or three to back it up. If all scalpers ultimately fail then certainly there would have to be some reasons as to why this is the case, no? Otherwise, all you have there is a sermon: "Believe or else!"
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,490
  • Oct 1, 2009 4:11pm Oct 1, 2009 4:11pm
Platypus,

Some of the worst traders in the world are professional floor traders! Put them behind a retail screen and they couldn't trade their way out of a paper bag! I know, because I worked as a research librarian at Morgan Stanley and part of the job was to hand out WSJ's to the portfolio analysts and house traders and LOL....what a joke....

So if that's your measuring stick, boy, no wonder you preach the doom and gloom for things you do not fully understand. Don't limit your views on what works and what doesn't because you have seen so many failures and blown accounts.....


Quoting Platypus
Don't be fooled my friend !

In the pro world, people live out of scalpers hedgers etc...again don't be fooled.

I spent my whole professional life in another environement, now that I became a "retail" trader myself I decided to go and experience a little what retail traders think, thats why I'm here and it just amazes me.

If somebody is telling you that he scalps succesfuly for a long time HE IS NOT TELLING YOU THE TRUTH. Believe me!

Mark my words....if you go down the path of scalping hedging etc you will fail.
In Charts We Trust!
  • #148,491
  • Oct 1, 2009 4:16pm Oct 1, 2009 4:16pm
Quoting The Fool
Plat, I'm not much of a believer. If a man has an opinion he should have a reason or three to back it up. If all scalpers ultimately fail then certainly there would have to be some reasons as to why this is the case, no? Otherwise, all you have there is a sermon: "Believe or else!"
Look fool...I know you are a nice guy and you are trying to learn. Breaks my heart to see somebody like you and others believing in this kind of thing but what can I do.

If you look at probability algorithms they will tell you that as you drop your timeframe your chances of being right decrease exponentialy, thats math, but I'm not talking about it, hedging, adding to loosing positions, scalping , is the joy of institutional traders.

Sometimes I find myself in this kind of discussion and I know that it is a lost battle because at the end of the day people do what they WANT to do not what they SHOULD do. Just mark my words people that trade this way end up broke...always !
  • #148,492
  • Oct 1, 2009 4:18pm Oct 1, 2009 4:18pm
Quoting Platypus
Oh boy...such a long answer for such a short post ....and by the way pros dont hedge....or scalp...

Trade safely !
pros don't hedge or scalp?

Oh, I see which pros!
The Thief of Wall Street
  • #148,493
  • Oct 1, 2009 4:23pm Oct 1, 2009 4:23pm
A good trader knows a hedge beyond taking any contra positions in same pair.

http://en.wikipedia.org/wiki/Hedge_(finance)
The Thief of Wall Street
  • #148,494
  • Oct 1, 2009 4:24pm Oct 1, 2009 4:24pm
Quoting Platypus
Sometimes I find myself in this kind of discussion and I know that it is a lost battle because at the end of the day people do what they WANT to do not what they SHOULD do. Just mark my words people that trade this way end up broke...always !
Plat I know you mean well & I appreciate it.

Adding to losing positions, oversizing positions, and all the other newbie mistakes (been there, done them all) do not have anything to do with scalping per se. One can scalp with good risk and money management.

Tell you what, I will continue to take the counsel of the bottom lines in my accounts. If they are growing & getting fatter I will take all warnings of danger ahead with a pinch of salt.

All the best to you.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,495
  • Oct 1, 2009 4:30pm Oct 1, 2009 4:30pm
Quoting The Fool
Plat I know you mean well & I appreciate it.

Adding to losing positions, oversizing positions, and all the other newbie mistakes (been there, done them all) do not have anything to do with scalping per se. One can scalp with good risk and money management.

Tell you what, I will continue to take the counsel of the bottom lines in my accounts. If they are growing & getting fatter I will take all warnings of danger ahead with a pinch of salt.

All the best to you.
People have the right to do what they think is the best and I respect that.

If you believe scalping is the way, go for it my friend

Trade safely folks !
  • #148,496
  • Oct 1, 2009 4:48pm Oct 1, 2009 4:48pm
all on deck..........heads up
those who can, do. those who cant, talk about those who can
  • #148,497
  • Oct 1, 2009 4:50pm Oct 1, 2009 4:50pm
Great debating been going on in here. I feel like we've all learned/been reminded of the dangers out there.
  • #148,498
  • Oct 1, 2009 4:51pm Oct 1, 2009 4:51pm
What's wrong with Australians? Couldn't they wait for Japan and Singapore to join the party?

Is it a party?
The Thief of Wall Street
  • #148,499
  • Oct 1, 2009 4:53pm Oct 1, 2009 4:53pm
50 % retracement is breached
  • #148,500
  • Oct 1, 2009 5:01pm Oct 1, 2009 5:01pm
Something weird's at play... EURJPY, EURUSD, GBPJPY and GBPUSD are all falling. Anybody has any ideas as to why this might be happening?
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