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  • #191,861
  • Feb 8, 2010 10:31am Feb 8, 2010 10:31am
Quoting fontu
Back to pavillion but 1.3730 intact & shorted again with pending ones above also gold.
fontu
3714 aint been touched yet. then 34.. chf sitting on a lower tl.. good trade.. if it aint broke dont fix it.
those who can, do. those who cant, talk about those who can
  • #191,862
  • Feb 8, 2010 10:31am Feb 8, 2010 10:31am
Anybody could post USDX chart? Is this thing flipped over yet?
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #191,863
  • Feb 8, 2010 10:32am Feb 8, 2010 10:32am
Quoting dil
Trade by yourself mate dont listen anybody in forums or other no one made real big money from forum posts...
This is human affection and emotion! As if most of the times our brain is making fun of us!
  • #191,864
  • Feb 8, 2010 10:32am Feb 8, 2010 10:32am
Quoting dil
Mate so why you entering to market if you dont know what u doing ?

Before you click button Sell/Buy ask yourself do you have confirmation by your charts ? and is it really going in that direction , to even try to trade against trend theres a bilions of $ going with the trend and ours little thousands dollars is like drop in the sea and can get margin easily yeah about half year ago i was listening to guys in forum who saying buy or sell , yeah luck was with me 2 times till i get margin good luck
well now my gut is saying to wait for tomorrow, so I guess I will put take profit for this one and go smoke myself to death...! heh...!

Thx Dil...!!!
  • #191,865
  • Feb 8, 2010 10:33am Feb 8, 2010 10:33am
the loss of momentum to the short on Friday evening was a good set up for the positional long, need to keep an eye on it but I reckon we are heading up to 1.4200/1.4300 before we look to take the long ride down on the big swing short.

Safely in that long since Friday at 19:00 GMT off 1.3588 and will be hoping we can see it through, took enough profit out of the trade on Friday to be sitting with a decent stop back off the low and can afford to be lookinmg for a decent run at the long.

If it does short down through my stop I'll be looking for the long again because the daily and the weekly really are set up nicely.
  • #191,866
  • Feb 8, 2010 10:33am Feb 8, 2010 10:33am
Quoting Goonerboy
best piece of advice on here today for sure - get your lessons learned, get the experience, set your strategy and keep on learning and updating... make your own decisions based on your own analysis. If you have good analysis you will do OK.
Thanks mate , im not trying to be a Dad for you like saying things no to do , im saying that from my experience FOREX is not like casino if you think it's a casino so you are trading only 1 week ~ without a big loss LOOK how much guys saying in this thread to buy or sell is like in casino saying what number to choose on roulette , yeah most of the time in those sell/buy things luck and stay with you for 1week or little more but when u earn more and more you will start feeling like you could earn 1milion , when u place position with all your deposit % and bam you get margin call
  • #191,867
  • Feb 8, 2010 10:36am Feb 8, 2010 10:36am
Quoting smokemachine
well now my gut is saying to wait for tomorrow, so I guess I will put take profit for this one and go smoke myself to death...! heh...!

Thx Dil...!!!
Yeah and mate look you can take a loss if you see u going against a trend and count only pips at the end of Month like you taking loss for 1 week for everyone it will look OMG im lossing my money but at the end of month you had like 300+ ~ pips so you are in those 95% who earn money

btw i dont use s/l by myself good MM is all for me
  • #191,868
  • Feb 8, 2010 10:38am Feb 8, 2010 10:38am
Quoting gatorinla
3714 aint been touched yet. then 34.. chf sitting on a lower tl.. good trade.. if it aint broke dont fix it.
Thanks gator for confirmation , this up may be expected if market plays as usual & perhaps the last one such above 1.37 .
thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #191,869
  • Feb 8, 2010 10:40am Feb 8, 2010 10:40am
Quoting dil
Waiting to buy E/J for a 300pips TP
300 pips you the man . though i m long eur/cad , eur/jpy and eur/usd . i wouldnt get on all of them 300 pips so you must be the man if you get it and i doubt it very much lol
  • #191,870
  • Feb 8, 2010 10:41am Feb 8, 2010 10:41am
Quoting Goonerboy
you should never risk more than 0.5% -1% of your equity in a trade... some say 2% but I think that is too high.
Stating a percentage is pretty ridiculous since everyone trades under different conditions. Your statement is mathematically incorrect anyway. We don't need much of an edge to risk 2% - most profitable traders should have an edge more than large enough to justify that size. The only reason I'd recommend anyone to use 2% or less is because that's a level people tend to find comfortable. It doesn't really have anything to do with risk (unless you get caught with your pants down by getting hit by a move while scalping, etc), but with tolerance of variance.
  • #191,871
  • Feb 8, 2010 10:42am Feb 8, 2010 10:42am
Gator,

Is this still a baby BULL play up to 3745...perhaps....

What's your thoughts?

You have 3714 and 3730 as confirmation of soft tops?

I have 3756 and 3766 as some hard tops now....
  • #191,872
  • Feb 8, 2010 10:46am Feb 8, 2010 10:46am
now we r going there,then,we ll see
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  • #191,873
  • Feb 8, 2010 10:54am Feb 8, 2010 10:54am
Quoting dil
Thanks mate , im not trying to be a Dad for you like saying things no to do , im saying that from my experience FOREX is not like casino if you think it's a casino so you are trading only 1 week ~ without a big loss LOOK how much guys saying in this thread to buy or sell is like in casino saying what number to choose on roulette , yeah most of the time in those sell/buy things luck and stay with you for 1week or little more but when u earn more and more you will start feeling like you could earn 1milion , when u place position with all your deposit...
totally - but the majority of the people who are playing the lottery are poor - rich people don't play the lottery - even those in casino's (the sensible rich ones) are only gambling what they can afford to lose.

People see the markets as a get rich quick scheme, they enter with little or no training, no strategy, no idea of risk management and I reckon most have never even bothered with the simulator first. I remember my first trade on the S&P i was up $1800 in about 3 minutes, I thought "hey this is easy" - and then I found out - boy and some!

I found my self an excellent trading mentor and since then it has been far clearer as to what, why, when and how... too many people on the markets just rolling the dice.
  • #191,874
  • Feb 8, 2010 10:59am Feb 8, 2010 10:59am
Driver 55,

You looking for an hourly or a 15 min close under or over this number on CHF 694?

Thanks
  • #191,875
  • Feb 8, 2010 10:59am Feb 8, 2010 10:59am
Quoting Goonerboy
totally - but the majority of the people who are playing the lottery are poor - rich people don't play the lottery - even those in casino's (the sensible rich ones) are only gambling what they can afford to lose.

People see the markets as a get rich quick scheme, they enter with little or no training, no strategy, no idea of risk management and I reckon most have never even bothered with the simulator first. I remember my first trade on the S&P i was up $1800 in about 3 minutes, I thought "hey this is easy" - and then I found out - boy and...
yeah finally nice post
  • #191,876
  • Feb 8, 2010 11:00am Feb 8, 2010 11:00am
Quoting Goonerboy
... too many people on the markets just rolling the dice.
Imagine most traders getting addicted to trading by "just rolling the dice" and practice MM to Justify their actions. Simply delays the failure.
  • #191,877
  • Feb 8, 2010 11:00am Feb 8, 2010 11:00am
Quoting Mr J
Stating a percentage is pretty ridiculous since everyone trades under different conditions. Your statement is mathematically incorrect anyway. We don't need much of an edge to risk 2% - most profitable traders should have an edge more than large enough to justify that size. The only reason I'd recommend anyone to use 2% or less is because that's a level people tend to find comfortable. It doesn't really have anything to do with risk (unless you get caught with your pants down by getting hit by a move while scalping, etc), but with tolerance of variance....
Mr J - i'm new on here so I'll not be wanting to cause any offence ;-)

I've got my trading rules - I'm sure you have yours... my rule is thus; never risk more than 1.0% of my account on any one trade... that means on my $45K account, trading 4 contracts at a time I never risk more than $300 with a 6 pip stop. It works well for me, it suits my trading strategy and it fits my rules.

If a novice picks up on risking more than a small fraction of their account then they risk wiping themselves out - sensible advice I'd say.
  • #191,878
  • Feb 8, 2010 11:01am Feb 8, 2010 11:01am
Quoting IMARICH1
Driver 55,

You looking for an hourly or a 15 min close under or over this number on CHF 694?

Thanks
4H
The best thing that can happen to you is to find out where you're wrong.
  • #191,879
  • Feb 8, 2010 11:04am Feb 8, 2010 11:04am
Quoting MackS10
Imagine most traders getting addicted to trading by "just rolling the dice" and practice MM to Justify their actions. Simply delays the failure.
my starting strategy had me winning 4 and losing 6 for every 10 trades I took - and the strategy was set so I was still a winner at the end of each day. It took hours and hours and weeks and weeks of disciplined sim trading to set up the strategy.

I still use the same strategy with refinements I have made along the way, I am now winning 6 out of 10 and of the 4 I am counting as losers I manage them to a safe stop above my entry - so in effect my losers are still at worst covering my costs.

Dice rolling is for snakes and ladders and casinos - not the markets
  • #191,880
  • Feb 8, 2010 11:05am Feb 8, 2010 11:05am
Quoting dil
yeah finally nice post
and thanks for the compliment - I started off so naive but a chap called Kevin Mezzone picked up on me and mentored me, what a great guy and he really helped me learn this the smart way.
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