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$5k to infinite

  • #241
  • Feb 14, 2010 7:53am Feb 14, 2010 7:53am
I work full time in a business environment and I think traders as a species are most in love with dishing out advice at the drop of a hat. Despite the fact that caron has admitted where he has gone wrong and also stated that his main account is conservatively traded, we still Have traders tripping over themselves to offer advice!
Quoting MightyII
I totally agree with that. Trying to prove something is the best way to get lost in this business. The target is to make money first. Not to show the others that we are successful. Let's be honest. When I hear some traders saying that they trade because they like that, I can't agree. We trade because we want to earn money. That's the main reason. Of course, I prefer trading that be a full time teacher or something else, but if I am unable to earn some money doing that, I would give up, no question to continue for the love of trading.

Just my...
  • #242
  • Edited 3:29pm Feb 14, 2010 3:26pm | Edited 3:29pm
Quoting coolshades
I work full time in a business environment and I think traders as a species are most in love with dishing out advice at the drop of a hat. Despite the fact that caron has admitted where he has gone wrong and also stated that his main account is conservatively traded, we still Have traders tripping over themselves to offer advice!
There we go...typical Chiwawa barking problem!

Let me tell you something my friend.....you were one of the most vocal about Xarons profits and contributed big time for his margin call.

I would expect to you to learn your lesson shut up, put your tail between your legs and go hide in under something. But small dogs never stop barking right? They even bark at their own ...errr coolshade


Go back and look at your posts. Tell me honestly if they belong to wise category or the foolish herd nonsense.
  • #243
  • Feb 15, 2010 1:11am Feb 15, 2010 1:11am
its chihuahua actually.


please quote me posts where i have encouraged xaron to take any particular trades? put up or shut up you pathetic creature.




Quoting Platypus
There we go...typical Chiwawa barking problem!

Let me tell you something my friend.....you were one of the most vocal about Xarons profits and contributed big time for his margin call.

I would expect to you to learn your lesson shut up, put your tail between your legs and go hide in under something. But small dogs never stop barking right? They even bark at their own ...errr coolshade


Go back and look at your posts. Tell me honestly if they belong to wise category or the foolish herd nonsense.
  • #244
  • Feb 15, 2010 7:07am Feb 15, 2010 7:07am
Quoting coolshades
its chihuahua actually.


please quote me posts where i have encouraged xaron to take any particular trades? put up or shut up you pathetic creature.
whatever.....if you don't even have the brains to see what you did.....what can I say
  • #245
  • Feb 19, 2010 12:26am Feb 19, 2010 12:26am
hey Xaron....don't go doubting the feds on the Laidi site when they get hawkish lol, they might raise fed funds sooner than you think, but at least I think you were on the right side this time...Bernie wants some respect from the doubters hehehehe
  • #246
  • Feb 19, 2010 1:10am Feb 19, 2010 1:10am
Quoting wwwin
hey Xaron....don't go doubting the feds on the Laidi site when they get hawkish lol, they might raise fed funds sooner than you think, but at least I think you were on the right side this time...Bernie wants some respect from the doubters hehehehe
I guess you're right. I'm short Dollar again. Took some profits in my USD/JPY long and added an Aussie long at 8900,an Euro long at 1.3470 and a CAD long at 0500. Oh and a USD/NOK short at 6.
  • #247
  • Apr 16, 2011 9:52am Apr 16, 2011 9:52am
Quoting Platypus
If you are not satisfied with your tradings, or in plain English "loosing money" and don't know what to do. I would like to challenge you to do something.

Trade in a bubble for a while and see how it goes. What do you have to loose since you are loosing money anyways?

For 2 or 3 months if you are a short time trader or over six months for people trading daily candles, turn off your TV don't look to CNBC, Bloomberg, etc. Don't read what other traders are talking, don't read the paper, run away from anything related to forex news, forecast,...
Hi,

I agree with you.

Margin call is part of the game. I blown up 3 times my account and learned many lessons from that.
I used to take a break for 3 to 6 month from trading if I get a margin call or heavy loss.

George
  • #248
  • Edited Apr 17, 2011 8:16am Apr 16, 2011 10:19am | Edited Apr 17, 2011 8:16am
Quoting kulathinal
Hi,

Margin call is part of the game. I blown up 3 times my account and learned many lessons from that.
I used to take a break for 3 to 6 month from trading if I get a margin call or heavy loss.

George
NO.....
A MARGIN CALL IS NOT PART OF THE GAME...........
Small losses on the way to profitability are part of the game........

God ... now I remember why I haven't been here for a while.
  • #249
  • Apr 16, 2011 12:03pm Apr 16, 2011 12:03pm
Hello Xaron,
how r u man? after a long time I am in your thread. HOw is your days going with FX and update of your 5k account?
  • #250
  • Apr 17, 2011 1:01am Apr 17, 2011 1:01am
Quoting tradestar1
NO MARGIN CALL IS NOT PART OF THE GAME...........
Small losses on the way to profitability are part of the game........

God ... now I remember why I haven't been here for a while.
Hi tradestar,

Many accounts got margin call last month JPY draw down / spike as we never expect such a way market will move. The last year intervention by the BOJ moved the market only 300 pips and the last month spike was extreme. If we are bad in money management there is no doubt that account will blown up. However, I survived in one account as I was using hedge in that account and the other one got margin call.

George
  • #251
  • Apr 17, 2011 7:55am Apr 17, 2011 7:55am
thats makes no sense.. im assuming your hedging in fx which is simply creating net 0 positions but still having exposure so your still paying for the exposure..
  • #252
  • Edited 8:47am Apr 17, 2011 8:21am | Edited 8:47am
Quoting kulathinal
Hi tradestar,

Many accounts got margin call last month JPY draw down / spike as we never expect such a way market will move. The last year intervention by the BOJ moved the market only 300 pips and the last month spike was extreme. If we are bad in money management there is no doubt that account will blown up. However, I survived in one account as I was using hedge in that account and the other one got margin call.

George

NO, you did not survive..... you threw away half of your total account when instead you could have made some very nice profits with proper position management.

Your concept of hedging is extremely flawed. The use of opening an opposite position in the same pair is basically being flat the pair with the exception you are still paying transaction costs and interest which is a losers game.

So what happened to your "hedged" account after the JPY spike reversed?
Look at this.... did this market movement trash you so called hedge? Or were you actually able to take some profit out of the market?
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  • #253
  • Apr 17, 2011 9:10pm Apr 17, 2011 9:10pm
Quoting domino
thats makes no sense.. im assuming your hedging in fx which is simply creating net 0 positions but still having exposure so your still paying for the exposure..
Hi domono,

I am preferring to pay for the exposure instead of margin call / account closure. I may be paying for few weeks or months. My motto is stay alive...!!!

George
  • #254
  • Apr 17, 2011 9:35pm Apr 17, 2011 9:35pm
Quoting tradestar1
NO, you did not survive..... you threw away half of your total account when instead you could have made some very nice profits with proper position management.

Your concept of hedging is extremely flawed. The use of opening an opposite position in the same pair is basically being flat the pair with the exception you are still paying transaction costs and interest which is a losers game.

So what happened to your "hedged" account after the JPY spike reversed?
Look at this.... did this market movement trash you so called hedge? Or were you...
Hi tradestar,

I agree to your first point. It is a losers game. But I will keep in mind that always we cannot win. I wanted to participate and stay alive that is important to me. I knows that I may not be able to close the position and go for a withdrawal for few weeks or months. It may not be suitable for all traders and I am looking for long term.

I am trading in only AUD/JPY and AUD/USD pairs and Carry is my trading strategy. The sell orders were in place below 500 pips of the open position and when market spike it got filled (with heavy price )
Once the news flashed for the G7 intervention I took profit for the short positions and long at 77 level. I closed that position at 81.50 and long again at 81.80. Today the position is doing well with gross profit of $700+ and $23.45 as roll.

The position opened at 84 level before spike also doing well. However, I have activated dynamic stop to protect my both position now.

George
  • #255
  • Apr 17, 2011 10:04pm Apr 17, 2011 10:04pm
man listen to me, if you think the market is going against your position, just close it, don't hedge or "protect" it. and when you normally remove the hedge or "take protection out", just enter into the market with a new oder, you will save money in spreads and interes, think about it. It took me time to realize that. IF YOU WANT TO BE A WINNER IN FOREX this is one step you will have to understand.

Let me give you an example.
When I started I deposited 1000 dollar, I managed to bring it to 4000 dollars by hedging, you know by not closing positions when they were in negative, however the downside was that i had a draw down floating all the time. When I reach 4000 dollars in my account, I was very satisfied, my mental state was very good (my account was showing 100% wining) but the floating draw down was $3500. I got to a point were I was envy on people who can close there weekly trades with no draw down and still be in a profit and can have a good sleep knowing they have no risk. Long story short one day I got margin call (too many open trades hedging) and my 4000$ account became 400 $. Of course I was mad and try to get money back and I succeeded in less than 12 hours to bring down my account to 20$.

That was a long time ago.. now I deposited 1000 dollars and I have 2000$ and no floating or hedging drawdown... Trust me it is much better. Stay out of the market don't hedge, you are playing a losing game, the way you trade it just gives you an illusion you are wining.

Anybody will tell you this. Enter in the market with a small stop loss (high R/R) and a big take profit. Of course you will have to learn the right time when to enter this is your homework. Don't be afraid if your account will show some losses, it is part of a game, just make sure they are small. You will also sleep better at night. Good luck.
  • #256
  • Apr 17, 2011 10:37pm Apr 17, 2011 10:37pm
Quoting iulli
man listen to me, if you think the market is going against your position, just close it, don't hedge or "protect" it. and when you normally remove the hedge or "take protection out", just enter into the market with a new oder, you will save money in spreads and interes, think about it. It took me time to realize that. IF YOU WANT TO BE A WINNER IN FOREX this is one step you will have to understand.

Let me give you an example.
When I started I deposited 1000 dollar, I managed to bring it to 4000 dollars by hedging, you know by not closing...
Thanks for your feedback. As you explained in your example same thing happened to me. Now I am not using hedge to increase my account balance.

Kindly note that I am trading without stop loss and averaging the positions and I knows that it is a bad idea. I am focusing on carry interest and protecting my account by using hedge position in case of a spike above 500 pips.

BTW I came across this thread as Xaron made a comment on other thread about my favorite pair AUD/JPY and later I have not heard anything from him.
Just I want his (and his friends) insights about the outlook for the carry trade at current levels. You are more experianced than me

George
  • #257
  • Jul 4, 2012 10:20pm Jul 4, 2012 10:20pm
What happened to this thread?
  • #258
  • Last Post: Jul 9, 2012 9:31am Jul 9, 2012 9:31am
Quoting kulathinal
Hi domono,

I am preferring to pay for the exposure instead of margin call / account closure. I may be paying for few weeks or months. My motto is stay alive...!!!

George
sorry, really just had to respond to this as i just saw this response... ...

you do realize that hedging like this in fx creates a situation where you can make no profit and yet your paying intrest for a position that has no benefit?

you are actually increasing your exposure and potential margin call as margin is eaten up by random hedges
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