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  • #226,941
  • Apr 16, 2010 9:06am Apr 16, 2010 9:06am
Quoting IMARICH1
I am trading smaller as I have to and trying to correct a demon inside of me.....
If I remember correctly you posted a few pages back that you doubled your account this week by gaining 100 pips. Can it be you are still overleveraging?

Edit: gator beat me to it
  • #226,942
  • Apr 16, 2010 9:07am Apr 16, 2010 9:07am
Quoting Protogenos
Only problem is economics can take a LONG time to appear in exchange rate. E/U has been overvalued by PPP estimates for many years
http://img361.imageshack.us/img361/128/picture2w.png

Really only took 3 months for it to drop almost 2000 pips, people have been complaining about the downtrend lasting so long, the overvalued euro position has been going on for 3 months and guess what, this is just the beginning, as i said i dont care if it moves 200 pips up to 3700 or 3800 or even 1.41, its a minute retrace in a longterm perspective, what is happening right now is that we are at a very important crossing which gets people confused.

And btw, Forex market doesnt react slowly to economic principles and data. some pairs react very volatile and can move 300 pips within half a day on significant news. The reason why EU doesnt is because its such a big part of the forex market and big players are sometimes screwing with eachother.
Im not one of those conspiracy theorists proclaiming that theres a backroom somewhere where big players meet. Obviously major players meet up and decide on strategies but the biggest players of all are the fucking governments. The US will always try to stabilise EU and vice versa due to reasons such as trade balance, exports so im worried about what the countries are going to do. But sometimes and this is one of these situations where neither us nor eu can do shit right now since both are in absolute shitholes and need to protect their interessts Economiclly and especially politically in case of the US.

So we will see as the zen master said
  • #226,943
  • Apr 16, 2010 9:08am Apr 16, 2010 9:08am
No Gator.... I got it....that's where the error came in!!!!

I have appreicated your help as well.....my problem was I would do well on your numbers and then if I missed it......I got on the train late expecting it to reach the next station when sometimes it had to go pick someone back UP at another station before going to the original one is was destined for......AND YOU TOLD ME OVER AND OVER about this.....

Yes, I doubled my accoutn in 6 months due to over leveraging.....it is bad MM.....I agree

Hell7,

I actually made over 100 pips and risked less than a dollar per pip.......like .50.....so maybe a little over leverage but not much and at this point, I have to risk to have a chance to even get a little capital to breath....otherwise, trading here is pointless.......if it takes me 1 year to make $100 and I only have $100.....well that's not worth it.....period.....there is so much screen time that goes into this and I could make more money working at McDonald's.....so there has to be a realistic approach to it.....but I agree with you...I am still probably over-leveraging a little....
  • #226,944
  • Apr 16, 2010 9:08am Apr 16, 2010 9:08am
Quoting gatorinla
im i the only one that caught the account double in such a short period of time (a week)? M/M still has not sunk in
Did you double your account or your total net worth? An account may represent a % of TNW, therefore risk is still being controlled. If, on another hand, your account was your TNW, then champagne never lasts forever
Prices oscillate, trends persist. Trend is your friend.
  • #226,945
  • Apr 16, 2010 9:08am Apr 16, 2010 9:08am
Quoting SkyzerFX
Closed all shorts AU,GU,EU, don't want to be too greedy

and don't like Monday Gaps..

Looks like just in time
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #226,946
  • Apr 16, 2010 9:08am Apr 16, 2010 9:08am
Quoting gatorinla
im i the only one thst caught the account double in such a short period of time (a week)? M/M still has not sunk in
Well if I only had $100 to play with I'd probably take some risky trades too. Or maybe just go to Vegas and put it on black...

Seriously though, doubling an account in a week is really risky. If I make 15% in a week I've usually taken some risks I shouldn't have
  • #226,947
  • Apr 16, 2010 9:10am Apr 16, 2010 9:10am
Quoting AMuharram
hey man glad your trade went fine!
thanks man, but trade was actually a loss in my mind (hence to not following my system) as usual it went where it should.All in all its ok positive week no loss for 2 weeks which is really good for me, but the last trade still shows some big weaknesses in my mind, not in the system. Back to the pub for me its weekend.

Good luck trading cu Sunday
TCat
Trade on your own risk Plan your trade&trade your plan dont be a
  • #226,948
  • Apr 16, 2010 9:10am Apr 16, 2010 9:10am
Quoting gatorinla
and booby breaks..
  • #226,949
  • Apr 16, 2010 9:12am Apr 16, 2010 9:12am
Quoting Orbital
http://img361.imageshack.us/img361/128/picture2w.png

Really only took 3 months for it to drop almost 2000 pips, people have been complaining about the downtrend lasting so long, the overvalued euro position has been going on for 3 months and guess what, this is just the beginning, as i said i dont care if it moves 200 pips up to 3700 or 3800 or even 1.41, its a minute retrace in a longterm perspective, what is happening right now is that we are at a very important crossing which gets people confused.

And btw, Forex market doesnt react...
euro has been gone down since late 2007.. usd has gone up since late 2007.. just not verses each other. check out the eurx and usdx from those tf till today. now its time to equalise
those who can, do. those who cant, talk about those who can
  • #226,950
  • Apr 16, 2010 9:14am Apr 16, 2010 9:14am
Quoting IMARICH1
Thanks Mike! I understand...

My problem was I never did as well in forex as I did with Atlast's style of trading....I was able to make money and like I said I doubled my account which usually I would always be in the RED......


When hhe left I panic and started losing....which I started chasing trades and then over leveraging to win back just what I lost which turned into more losses.....I couldn't stop....I didn;t believe you could have that many losers in a row! You can!!!! You can take 100 trades and lose all 100.....the law of probabilities...
you ain't alone.

if i could exorcise my trading demons and do something as simple as follow my system i'd be very well off.

we are all a work in progress.

there is no destination... just a journey.

m
  • #226,951
  • Apr 16, 2010 9:17am Apr 16, 2010 9:17am
I want to ask about the London fix when does it happen?..how can the FX traders get benefit from it? I mean what time they should buy?

Thank You
  • #226,952
  • Apr 16, 2010 9:17am Apr 16, 2010 9:17am
My money management rule is as soon as im 20 pips in the profit I move stops to BE. If I add on extra leverage once im in the money I move my stops to average BE for all position. A free lunch is a free lunch, i'm going to take it.

Has helped me to minimize my losses and stay more disciplined. Plus knowing I can add some extra leverage and just move stops to avg. break even has provided some boost to my return.
  • #226,953
  • Apr 16, 2010 9:18am Apr 16, 2010 9:18am
Quoting Gull
The gap will close or I will eat my cat. Cause that's all I'll have left. Just joking. Patience my friend.
Looks like the gap closed at last even though I was out at the time my TP kicked in.

Have a great weekend all traders and I will see you back here Monday.
Timing is everything
  • #226,954
  • Apr 16, 2010 9:18am Apr 16, 2010 9:18am
dow turned positive
hang on to your bread......unless you want toast
  • #226,955
  • Apr 16, 2010 9:18am Apr 16, 2010 9:18am
Up 50 pips since lows. Closed my short with 20 pips loss. How high can it go before going back to the downtrend?
  • #226,956
  • Apr 16, 2010 9:18am Apr 16, 2010 9:18am
Quoting IMARICH1
Yes, I doubled my accoutn in 6 months due to over leveraging.....it is bad MM.....I agree

..
doubling an account of 100$ in 1 week is one thing ...
doubling an account of 100,000$ is another thing.

dont deceive.
The best thing that can happen to you is to find out where you're wrong.
  • #226,957
  • Apr 16, 2010 9:20am Apr 16, 2010 9:20am
Quoting gatorinla
im i the only one that caught the account double in such a short period of time (a week)? M/M still has not sunk in
No , me too did it with easy oneway down only movements like this 120% , just took conservatives without scalping mode , may have few times more if taken more risks with scalping.multiple trades done with accumulation .
anyway chances do not come all time.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #226,958
  • Apr 16, 2010 9:21am Apr 16, 2010 9:21am
Quoting IMARICH1
No Gator.... I got it....that's where the error came in!!!!

I have appreicated your help as well.....my problem was I would do well on your numbers and then if I missed it......I got on the train late expecting it to reach the next station when sometimes it had to go pick someone back UP at another station before going to the original one is was destined for......AND YOU TOLD ME OVER AND OVER about this.....

Yes, I doubled my accoutn in 6 months due to over leveraging.....it is bad MM.....I agree

Hell7,

I actually made over 100 pips...
we tend to get cocky. and add to our trades when they are going well. then the pullback has sex with our account.. i suggest using a set size on all trades and maybe less on risky ones. as your account grows or shrinks adjust this size each week..

thats not a hundred$ account you have.. its a billion $ account.. treat it as such..

and dont trade risky ones
those who can, do. those who cant, talk about those who can
  • #226,959
  • Apr 16, 2010 9:24am Apr 16, 2010 9:24am
Quoting jsspmk
Did you double your account or your total net worth? An account may represent a % of TNW, therefore risk is still being controlled. If, on another hand, your account was your TNW, then champagne never lasts forever
yes but i had no more then 3% at risk at a giving time.
those who can, do. those who cant, talk about those who can
  • #226,960
  • Apr 16, 2010 9:26am Apr 16, 2010 9:26am
So the so called GAP closed already? All the way to the moon now?
Great Bodies are Engineered not Born
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