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  • #212,921
  • Mar 18, 2010 11:57am Mar 18, 2010 11:57am
Hi.

Well I dont believe anyone can know where its going long term i think last couple of days is case in point.

The strategy i am developing is like, I dont care if it goes up or down I just

*Wait for big movement,
* Wait for retractment and enter
* Exit @ Fib 40-50% depending on price action

I have not traded long enough to know if this will be successfull but what do you think is wrong with this strategy ?

Quoting mmccormac
Most scalpers end up dead (accounts blow up). You have to develop a method that fits your personality and if that's your game then just use MM that will give you an edge. Personally I find it easier to look at longer time frames then zoom in to lower time frames to refine my entry.

A Bad system and good MM will still make money, on the other hand an Awesome method and bad MM will always end up with a blown account.

My number one rule is keep it simple.
  • #212,922
  • Mar 18, 2010 11:57am Mar 18, 2010 11:57am
Quoting petehnm
I just heard on cnbc that there is a rumor that fed may raise the discount rate..just wondering if he does when would he announce it?
1230 EST was what I've been finding across twitter... but officials do commonly do announcements after the closing bell...
  • #212,923
  • Mar 18, 2010 11:58am Mar 18, 2010 11:58am
off the topic, but arent these 3 candles beautyful?
  • #212,924
  • Mar 18, 2010 11:58am Mar 18, 2010 11:58am
Quoting DavidValera
no i wanted to know who here has the guts to admit they lost because it seems everyone on forex factory is a winner
I lost shorting it last week but made it all back and more today
  • #212,925
  • Mar 18, 2010 11:59am Mar 18, 2010 11:59am
Quoting kuroro001
Anyway is it really important for you to know who lost money while you earned some ? ego thing ?
No kuroro, I sure he asks very friendly...wait maybe tommorrov your trades are on the winning train.. but for now be really carefull the pa can act in Asian very possible to downside a little bit more..dontaverage now if you thing wait a better point my opinion depends on your MM..
" Accepting losses is the most important single investment devise "
  • #212,926
  • Mar 18, 2010 11:59am Mar 18, 2010 11:59am
Quoting petehnm
I just heard on cnbc that there is a rumor that fed may raise the discount rate..just wondering if he does when would he announce it?
fed says "no comment" at this time
hang on to your bread......unless you want toast
  • #212,927
  • Mar 18, 2010 12:00pm Mar 18, 2010 12:00pm
Quoting Caravanpark
I lost shorting it last week
well sir i am glad u have the guts to admit it, majority of traders like to hide thier loses and pretend they always win .. You sir are a real trader
  • #212,928
  • Mar 18, 2010 12:00pm Mar 18, 2010 12:00pm
I am VERY inclined to sell if this ever come back to 1.3640~55 area again.

  • #212,929
  • Mar 18, 2010 12:01pm Mar 18, 2010 12:01pm
usd/chf just started tanking how come eur/usd not moving up?
  • #212,930
  • Mar 18, 2010 12:02pm Mar 18, 2010 12:02pm
Quoting DavidValera
no i wanted to know who here has the guts to admit they lost because it seems everyone on forex factory is a winner
1 loss, or 2 losses or 3 does not a loser make. everyone loses, losing trades are the nature of trading, and if you look back you will see a ton of posts with people admitting losses, just look today and you will see for instance, so don't knock FF.
  • #212,931
  • Mar 18, 2010 12:03pm Mar 18, 2010 12:03pm
Quoting freedom48
No kuroro, I sure he asks very friendly...wait maybe tommorrov your trades are on the winning train.. but for now be really carefull the pa can act in Asian very possible to downside a little bit more..dontaverage now if you thing wait a better point my opinion depends on your MM..
Yes that's fine
I'll average my lot by adding other lot as we go down depending on my MM...i can easily handle a sl below 1.3500...i'll see what i'll do friday night
COT: The precious data ignored
  • #212,932
  • Mar 18, 2010 12:03pm Mar 18, 2010 12:03pm
Quoting Atlast
1 loss, or 2 losses or 3 does not a loser make. everyone loses, losing trades are the nature of trading, and if you look back you will see a ton of posts with people admitting losses, just look today and you will see for instance, so don't knock FF.
sounds to me like no one is a loser in the forex market
  • #212,933
  • Mar 18, 2010 12:04pm Mar 18, 2010 12:04pm
Quoting Jack Herer
ever come back to 1.3640~55 area again.
Ohh no, of course it's going straight to zero.. Just SELL now..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #212,934
  • Mar 18, 2010 12:04pm Mar 18, 2010 12:04pm
ouuuw shit ..watch the Euro / CHF

I scaredddddddddddddddd
" Accepting losses is the most important single investment devise "
  • #212,935
  • Mar 18, 2010 12:04pm Mar 18, 2010 12:04pm
ok now we're starting to catch up...I think?
  • #212,936
  • Mar 18, 2010 12:05pm Mar 18, 2010 12:05pm
Quoting acumen
mine are in the water when I take a dump... i need a lift kit.

i'm really not being mean... he's a very fun contributor but never, ever try to pick a bottom in this kind of shit.

i remember the bottom pickers when this POS was at 1.7... not they are making my half caffe double tall mocha without the whip.

m
yep... so im still holding mine.. the day ain't over. dow/ect. still have time to dump before weekend.. 7 is a strategy also.. 7 up then down or visa versa.. dow has last 7 up. time to look for weakness before the weekend.

sky's ok.. i like to yank his chain since he does it even when down 1600 pips.
those who can, do. those who cant, talk about those who can
  • #212,937
  • Mar 18, 2010 12:05pm Mar 18, 2010 12:05pm
Do you guys trade with SL = 100's of pips ??
  • #212,938
  • Mar 18, 2010 12:07pm Mar 18, 2010 12:07pm
Quoting DrLobo
Hi.

Well I dont believe anyone can know where its going long term i think last couple of days is case in point.

The strategy i am developing is like, I dont care if it goes up or down I just

*Wait for big movement,
* Wait for retractment and enter
* Exit @ Fib 40-50% depending on price action

I have not traded long enough to know if this will be successfull but what do you think is wrong with this strategy ?

You're entering on a pull back... Ok.

You're exiting on a pull back (exiting on the 50% Fib)? That is usually the point price turns back to continue with the trend.

Mabye I just didn't understand you.

Either way it really doesn't matter. Like I said before the smallest portion of importance should be placed on your "system" and the most on managing your risk and your management rules. Most people do this backwards and think it's all about finding the "perfect entry" when it's more about MM and using that MM to determine your entry point.
  • #212,939
  • Mar 18, 2010 12:07pm Mar 18, 2010 12:07pm
usd/chf just gave back all it's mornings gains and the eur/usd can't break 1.3620..
  • #212,940
  • Mar 18, 2010 12:09pm Mar 18, 2010 12:09pm
Quoting SkyzerFX
I can ask you the same thing.. Let's comeback to that subject at the

top of the trading channel..
time will tell.. remind me then
those who can, do. those who cant, talk about those who can
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