$5k to infinite | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Pip Infinite Trend 18 replies

Infinite trading strategies. Where's the end? 61 replies

Attachments: $5k to infinite
Exit Attachments

$5k to infinite

  • #181
  • Jan 20, 2010 10:26pm Jan 20, 2010 10:26pm
Quoting domino
dont get caught up with that triple top if they raise interest rates dont think that triple top is gonna stop price.. Euro is acting as it should.. this is a cap w/inner acc wave which means euro should pull between now and 1.32 I dont think itll even get close to 1.3 tho I am hoping we see 1.36 before the comming rally so I can get a better buy point. Good calm non reactive trading will work wonders here


so if we new it was comming and knew it would be good to build a better dollar costed position .. not much has changed to the moon
Domino, whether they raise interest rates or not is none of my concern, what I am looking at is how price behaves correspond to the historical price and hence the tripple top formation. The next move maybe in consolidation or continuation. What I was stating before are those important levels that I believe will be a major decision on where the price will go next.

So, if you think 1.36 is a better price to go long why not 1.3? Do you have any bases / supports as to why 1.36 is a better price to go long? Really, there's no way to tell if euro will go to 1.36 or 1.30, unless there's a clear confirmation of such reversal. But we can learn something from those important historical level after the trend has been confirmed / established, that is what I call an opportunity. Perhaps I am wrong and it may never reach those levels, but we're all traders and must know how to assess risk, this is important, and turn it into opportunity.

I hope you get my point. Happy Trading.
  • #182
  • Jan 20, 2010 11:21pm Jan 20, 2010 11:21pm
Quoting Prodigy
Domino, whether they raise interest rates or not is none of my concern, what I am looking at is how price behaves correspond to the historical price and hence the tripple top formation.
As i type this I wish to start no arguement especially in xarons thread with that being sad I dont think my answer will be anybetter than yours.. just this is my view...

I believe fundamentals should be the cornerstone to building a trade.. market psychology 2nd and technicals 3rd.
Quote
The next move maybe in consolidation or continuation. What I was stating before are those important levels that I believe will be a major decision on where the price will go next.
the main driver that destroys S&R is fundamentals usually price will roll to sit and wait for news to bounce or break... you can see 80% of the time consolidation zones wont break without news or fundamental change... currencies that have equal overnight rates will grind around in consolidation divergent and convergent will move usually with the divergence...
Quote
So, if you think 1.36 is a better price to go long why not 1.3? Do you have any bases / supports as to why 1.36 is a better price to go long? Really, there's no way to tell if euro will go to 1.36 or 1.30, unless there's a clear confirmation of such reversal.

for this I have psychology... measure the psychology of the movement i understand 2 basic types CAP and ACC psychologies. cap is breakout again fundamentals.. i use these trades to sling myself into long term positions... ACC psychologies is trend with funds after cap.. if we strip risk and price begins to find a bottom and trend we lock in partial profits and trade around a long term position and buffer losses with long term profits.. we use trading as a means to amplify long term investments. so juding psychology i know to buy until 36 but not lower... based on my statistics.

Quote
But we can learn something from those important historical level after the trend has been confirmed / established, that is what I call an opportunity. Perhaps I am wrong and it may never reach those levels, but we're all traders and must know how to assess risk, this is important, and turn it into opportunity.

I hope you get my point. Happy Trading.
sure we all trade differently.. this style uses fundamentals and a grid sorta like mine except i use a statistical psychological grid that spreads and adapts.

I believe that these levels are insignificant as they are in the past and if you draw enough lines eventually some will work... and the traders who are successful are good at managing risk and allow profits to run and cut losses...
  • #183
  • Jan 21, 2010 1:07am Jan 21, 2010 1:07am
Quoting Platypus
I would like to thank Twee for leting me post here again. I have no idea why I was banned but anyways I'm not here to question moderators.

Second I would like to apologize to Xaron. As I explained at the oanda forum, I went tough on you because I saw a lot of mistakes that could ruin your carreer as a trader.

If you go back and look at my posts you will see that all I said indeed did happen.

But what do I know...right? I'm just a illiterate as somebody pointed out .

Anyways, if you really want to trade for a serious institution you have to...

Hello Playtipus.
It was really good to hear what is real professional trading in big funds.
Practically you was the first to give us the picture and dose of reality.
As I want to trade institutional funds I will obviously keep in mind what you wrote.
I remember reading Van Tharp and one successful fund manager interviewed there mentioned that if his fund starts performing better than expected making more than 20% annually they start checking whether everything is fine and risk is not being too much.
  • #184
  • Jan 21, 2010 8:38am Jan 21, 2010 8:38am
Hey Xaron, how are you doing ? ... hope you didn't get hurt too badly by the latest dollar move.

No more updates from your AUD account ?
Why did you take your myfxbook link from your signature ?
Getting it right is NOT as important as not getting it wrong.
  • #185
  • Jan 21, 2010 8:45am Jan 21, 2010 8:45am
Quoting fxswing
Hey Xaron, how are you doing ? ... hope you didn't get hurt too badly by the latest dollar move.

No more updates from your AUD account ?
Why did you take your myfxbook link from your signature ?
Well yes I got hurt (NAV is around $3,200). Will update my link soon. In the longer term I don't want to show my live accounts anymore. I underestimated the pressure coming along with posting live results - especially if they are bad like in December.
  • #186
  • Jan 21, 2010 9:13am Jan 21, 2010 9:13am
Quoting Xaron
Well yes I got hurt (NAV is around $3,200). Will update my link soon. In the longer term I don't want to show my live accounts anymore. I underestimated the pressure coming along with posting live results - especially if they are bad like in December.
It is tough and honestly you get little in return for it. By that I mean what is in it for you by doing so. If the results are not good then you cop some flak which just distracts. If the results are good then you either have everyone wantng to know more than they need or you still cop flak (for being too risky). It is why I chose to in the end keep my results personal in my journal. I will post charts and trades/exits but there is no need for others to know my position.

I wish you all the best. Remember there is no one here that you need to impress.

Razor
  • #187
  • Jan 21, 2010 9:50am Jan 21, 2010 9:50am
Quoting Xaron
Well yes I got hurt (NAV is around $3,200). Will update my link soon. In the longer term I don't want to show my live accounts anymore. I underestimated the pressure coming along with posting live results - especially if they are bad like in December.
That's a great lesson for you and for others, hope they will use that free experience.
Don't put pressure on yourself for no good reasons (ego), mental capital is of paramount importance for trading, don't waste it.

I really want to congratulate Xaron because it takes big balls to post your account results in a public forum, and take the heat from posters !!!
Personally, I couldn't handle that kind of pressure, so big kudos to you.

Now Xaron, because you have experience you know that you will come back, just do it slowly and you will be ok

Persistence, resilience and consistency are great qualities to build for a trader.
Getting it right is NOT as important as not getting it wrong.
  • #188
  • Jan 21, 2010 9:59am Jan 21, 2010 9:59am
Quoting domino
As i type this I wish to start no arguement especially in xarons thread with that being sad I dont think my answer will be anybetter than yours.. just this is my view...

I believe fundamentals should be the cornerstone to building a trade.. market psychology 2nd and technicals 3rd.
the main driver that destroys S&R is fundamentals usually price will roll to sit and wait for news to bounce or break... you can see 80% of the time consolidation zones wont break without news or fundamental change... currencies that have equal overnight rates will...
Well, I believe psychological statistic as you mentioned above is insignificant, because what i believe in is price. Price moves market not the other way around / fundamental. No, I didn't intend to start argument as well, fundamental vs. technical. I just merely stated my opinion as to how price behaves at the moment. Off course, you and I are entitle to our opinions to ourselves. Good luck to you.
  • #189
  • Jan 21, 2010 10:32am Jan 21, 2010 10:32am
I think we all could learn a thing or two from your journal and trades. Please continue for the benefit of all of us. Indeed you get a little in return for it. Do you have a paypal account? Would you accept a small donation as "tuition fee"? Many people offer trading education for big money but I think this journal might be worth more than many of the so-called mentoring stuff.
forget about tomorrow, just steal away into the night
  • #190
  • Jan 22, 2010 9:59am Jan 22, 2010 9:59am
Quoting Xaron
Well yes I got hurt (NAV is around $3,200). Will update my link soon. In the longer term I don't want to show my live accounts anymore. I underestimated the pressure coming along with posting live results - especially if they are bad like in December.
Hi there Xaron.

I hope you don't take what I'm going to say in the wrong way. It is a shame that FF delete posts, because if people could look back on my posts here in this thread, they would see that not only I knew what I was talking about but most important I was watching out for YOUR best interest!

People called me illiterate, and as long as I agree that my english is poor, I do know one thing or two about forex.

Look back in this forum and you will see that the "erudites" ( cough...cough) some of than with more than 20 years of experience, that got to the business of brown nose you, did not contributed a lot to improve your trading skills, right?

Unfortunately you got blinded by this people. Praises are the worst thing that can happens to a trader.

During my whole trading career I got a boss chasing my butt for profits ( and my bank was a non speculative one) the pressure was insane.

But guess what? Most of those bosses are today my best friends because I know that they did good not bad to me.

I don't really think that showing accounts over the net can bring something positive, but if you quit because of pressure....in a forum!! You cant last a few minutes on a serious institution.

Retail traders are naive in principle and the ones that come to forums are here basically to learn, so don't pay any attention to what they say.

If you really want to learn this business go talk to institutional traders in your area. Find out where they take lunch, what gym or restaurant they usualy go, pop up and try to become their friend.

Thats how you learn, talking to the successful not the wanna be.

Again... believe you or not, it was never my intention to put you down in your forum, but I don't know anybody that got really good on trading following a illusion fueled by ludicrous praises.
  • #191
  • Jan 22, 2010 12:51pm Jan 22, 2010 12:51pm
Quoting Platypus
Hi there Xaron.

I hope you don't take what I'm going to say in the wrong way. It is a shame that FF delete posts, because if people could look back on my posts here in this thread, they would see that not only I knew what I was talking about but most important I was watching out for YOUR best interest!

People called me illiterate, and as long as I agree that my english is poor, I do know one thing or two about forex.

Look back in this forum and you will see that the "erudites" ( cough...cough) some of than with more than 20 years of...
Nicely said platypus, there are a lot of meats in your statement..
  • #192
  • Jan 25, 2010 12:02pm Jan 25, 2010 12:02pm
Quote
Well yes I got hurt (NAV is around $3,200). Will update my link soon. In the longer term I don't want to show my live accounts anymore. I underestimated the pressure coming along with posting live results - especially if they are bad like in December.

As a Xaron fan, i feel bad but i am sure he will bounce back.

He has already showed his mettle in his first account (taking it from 5 K to 21 K + levels in few months).

Waiting for a profitable comeback from Xaron.
  • #193
  • Jan 25, 2010 12:05pm Jan 25, 2010 12:05pm
Quote
Well, I believe psychological statistic as you mentioned above is insignificant, because what i believe in is price. Price moves market not the other way around / fundamental. No, I didn't intend to start argument as well, fundamental vs. technical. I just merely stated my opinion as to how price behaves at the moment. Off course, you and I are entitle to our opinions to ourselves. Good luck to you.

Last weekend, i read a trend following book which stated the same thing as you stated:

Price action moves the market.

News may move the market on daily or weekly basis but price action moves in trend on monthly and yearly basis.
  • #194
  • Edited 4:35pm Jan 25, 2010 4:05pm | Edited 4:35pm
Quoting Platypus
If you really want to learn this business go talk to institutional traders in your area. Find out where they take lunch, what gym or restaurant they usualy go, pop up and try to become their friend.

Thats how you learn, talking to the successful not the wanna be.
.
first of all, Xaron, i can imagine you stop posting your account summary. i was posting in a journal and it did not do my trading any good, bad for my mmindset. i did not get much comments like you and even i was distracted. ego made me open a journal, and i realised my ego is an enemy of trading.

i trust you will relax, get back in your zone and be profitable again.

Platypus, i don't know about working for a bank so i cannot realy comment
i can comment on the part of your post above.

analogy:
i worked as a dj for a couple of years. and in bars/lunch and clubs we could always tell the wanabe dj's who wanted to get into the innercircle... this make you pretty arrogant. they are sooo obvious.

because i was not from the city i did not know who the hot shots where. one was a friend for months before i realised he flies around the world to dj. he introduced me.

my mentor DNA

Inserted Video

Inserted Video


i just practiced to cut the records well and that earned respect.

for retail-traders it's the same. be the best you can be. when faith connects you with a dealer ,trader or fundmanager he will recognise your talent when you have it.

just MHO, pax
even with my eyes open i cannot see everything
  • #195
  • Jan 25, 2010 4:51pm Jan 25, 2010 4:51pm
Quoting kingfisher
Last weekend, i read a trend following book which stated the same thing as you stated:

Price action moves the market.

News may move the market on daily or weekly basis but price action moves in trend on monthly and yearly basis.
quite the guruish comment tho.. I read the price action.. is like saying i look into my crystal ball tell the future post an empty chart and say can you see..

People write this stuff to be gurus that it all...
  • #196
  • Jan 27, 2010 4:04am Jan 27, 2010 4:04am
Quoting Platypus
Hi there Xaron.

I hope you don't take what I'm going to say in the wrong way. It is a shame that FF delete posts, because if people could look back on my posts here in this thread, they would see that not only I knew what I was talking about but most important I was watching out for YOUR best interest!

People called me illiterate, and as long as I agree that my english is poor, I do know one thing or two about forex.

Look back in this forum and you will see that the "erudites" ( cough...cough) some of than with more than 20 years of...

Hello, Playtipus.

I am looking for institutional career trading FX.
How can wanna be like me I get into this business?
I have no right education in math or similar field but I am making progress in my FX trading steadily and I am trying to trade with lowest risk possible.
  • #197
  • Jan 27, 2010 7:21am Jan 27, 2010 7:21am
Quoting shiko
Hello, Playtipus.

I am looking for institutional career trading FX.
How can wanna be like me I get into this business?
I have no right education in math or similar field but I am making progress in my FX trading steadily and I am trying to trade with lowest risk possible.
How old are you?
  • #198
  • Jan 27, 2010 2:01pm Jan 27, 2010 2:01pm
Quoting Platypus
How old are you?

I am 41.
  • #199
  • Jan 27, 2010 7:13pm Jan 27, 2010 7:13pm
Quoting shiko
I am 41.
Hummm....at this age it is tough to start something on a institution.

I'm 42 and I retired last year. My friends are all senior traders at banks overlooking a bunch of other traders or retiring also. If you were in your twenties it would be a lot easier.

That said , I can guarantee you that there is always a place for a good trader in any institution. But you will have to proof that you can maintain a solid performance does not matter what market conditions.

Speculating now, I would suggest you to get in one of these "contests" you see over the net. The same kind Xaron got in. I have no idea how it works, if it is for real etc, but it doesn't hurt to try.

If you really got a grip on the market, I believe the best way to go is to keep your day job and grow your account till you can trade full time. Get a part time save as a mad man, do what ever it takes to grow your account.

If you are disciplined enough to do it for the next 6 or 8 years you can probably start trading part time. Than in the next 2 or 4 years you can probably be full time, and retired at around 55. With a healty life style you can still enjoy years of a good life as a trader and maybe help people in need along the way.

Thats what I can say for now...hope it helps
  • #200
  • Jan 28, 2010 12:57am Jan 28, 2010 12:57am
Quoting Platypus
Hummm....at this age it is tough to start something on a institution.

I'm 42 and I retired last year. My friends are all senior traders at banks overlooking a bunch of other traders or retiring also. If you were in your twenties it would be a lot easier.

That said , I can guarantee you that there is always a place for a good trader in any institution. But you will have to proof that you can maintain a solid performance does not matter what market conditions.

Speculating now, I would suggest you to get in one of these "contests" you see over...

well, thank you Playipus.
I doubt this is actually an option for me.
I got into stocks trading prop firm and learning to trade stocks now.
At least I know we have many prop firms trading stocks here and giving money to trade unlike Forex. After I learn this thing it can be my day time job. and Forex I am still working on it.
I guess when I start making 3-5% monthly consistently I will be able to take on clients. started trading in October 2008.
0 traders viewing now