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The final Holy Grail

  • #121
  • Edited 8:03am May 5, 2010 7:31am | Edited 8:03am
IS there any stoploss to avoid news trending or your fault in strategy (this often will happen in months of trading)? your normal loss of 500 pips now can be fast 600 or 900 pips with so much open position, all in same direction of US dollar. so i think minimum drawdown in your strategy seems 700 -1400 pips (700 at sure because easy to see at the moment if there is 1 little fast move), or is it higher?

in your statement you show doubling your account with near 600 pip plus. so with about 600 pip loss like you have now (at moment or with little pips more) you would have margin call and did loss your whole account today maybe if starting today? seems very very risky strategy whats you doing in your statement. maybe bether starting with moneymanagement first in your first trading learning process.
  • #122
  • May 5, 2010 7:43am May 5, 2010 7:43am
Hmmm, things not appearing real good with these trades at the moment. Flight to safety in the USD?
  • #123
  • May 5, 2010 7:52am May 5, 2010 7:52am
if he i saying 100 % winn strategy then its normal that he dont know the rules of trading and tries to learn it. Thatswhy you also see his statements with the extrem wrong moneymanagement and no SL inside trades and all depends of luck for him. with no SL he get many wins but on end a big loss whats often costs whole accounts. maybe he knows it or will learn it. Normally people posting such things change strategy and start with different name same thing again, again and again. sometime they get it some weeks or month and people trust till account blows again. allways same, no new things in the world. That he is not a trader for last years is normal to see on this strategy.most did only trade short in euro trend in last weeks. But some did maybe even get margin call today if started today if 1:1 done with statement amounts.

Maybe ISM can save him, but without luck the loss is programed.
  • #124
  • May 5, 2010 8:04am May 5, 2010 8:04am
Bet you don't hear from this dude again.
  • #125
  • Edited 8:22am May 5, 2010 8:08am | Edited 8:22am
wow 600 pip loss even before the news.
so fast i never seen a margin call from people saying 100% winning strategy. most of this "good" traders need 6-12 months for burning account because of at least bether moneymanagement
  • #126
  • May 5, 2010 8:17am May 5, 2010 8:17am
Quoting Accumulation
Bet you don't hear from this dude again.
you will hear him with different name or with the argument:"i did something wrong, now changed some parameters or moneymanagement and now will be 100 %". and starting again the game, some will see trades, some wins, invest money and losing again. Its endless game.

at least he cant say was fundamental reason why was not good trades, because all trading signals and near each indikator and price formation showed opposite trading direction.

At least he was fasted account blowing trader.
  • #127
  • May 5, 2010 8:32am May 5, 2010 8:32am
Quoting MoleculeDuka
you will hear him with different name or with the argument:"i did something wrong, now changed some parameters or moneymanagement and now will be 100 %". and starting again the game, some will see trades, some wins, invest money and losing again. Its endless game.

at least he cant say was fundamental reason why was not good trades, because all trading signals and near each indikator and price formation showed opposite trading direction.

At least he was fasted account blowing trader.
You are probably right about hearing from him under a different name as he probably works for powerful interests that want to part gullible traders from their money. Didn't someone say that he has posted on a lot of different forum boards? Wonder why.................
  • #128
  • Edited 8:51am May 5, 2010 8:41am | Edited 8:51am
Quoting Accumulation
You are probably right about hearing from him under a different name as he probably works for powerful interests that want to part gullible traders from their money. Didn't someone say that he has posted on a lot of different forum boards? Wonder why.................
Biggest problem is that he lost on this easy day, no extra unexpected news whats going 100 pip in some seconds and no new fundamentals. all was same trend like days before. But his strategy is with same problems like the martingale strategy that allways buying new if in loss. many wins and very big kill account losses. he is only doing different with no SL and so many wins and big kill account losses. but same strategy point.
But allways you find new forex traders that dont know basics you can show this as a good strategy and some will believe it.
if they would just normal playing the trend they would did win much more in this last 2 weeks then he had with this some hundered pips. offcourse then also much more loss trades if wrong direction with some loss pips, but thats trading and reduces the risk. Only holding till win and then risking account killing loss is beginner mistake trading or good for showing trades for forums and dont show real drawdown or margin calls between open and close a trade. At the moment margin call would blow accounts and max drawdown are in no good relation to wins. worst starting possible.
  • #129
  • May 5, 2010 8:44am May 5, 2010 8:44am
Quoting MoleculeDuka
your normal loss of 400 pips now can be fast 600 or 900 pips with so much open position, all in same direction of US dollar. so i think minimum drawdown in your strategy seems 600-1000 pips (600 at sure because easy to see at the moment if there is 1 little fast move), or is it higher?
400 pips! That is too big for me! I lost -90 pips GBPUSD and bigger lost money on USDCHF.

I don't understand trades where it goes 100 pips wrong way is a good trade.

I don't listen people anymore. This was my worst day trading, and I just started!
  • #130
  • May 5, 2010 9:00am May 5, 2010 9:00am
Quoting Lucky Duke
400 pips! That is too big for me! I lost -90 pips GBPUSD and bigger lost money on USDCHF.

I don't understand trades where it goes 100 pips wrong way is a good trade.

I don't listen people anymore. This was my worst day trading, and I just started!
400 is long time ago, was allready by 600 pip loss.
and 600 is before the news, because the trader is beginner he is letting it go in news with other 600 pip loss chance and an 2. full account killer.
fun for the broker this strategy. with big luck in news he only blowed some accounts :-).
  • #131
  • May 5, 2010 9:04am May 5, 2010 9:04am
Joe,

Learning requires someone sharing useful information so another person can become better at what they do.



Anyway, I hope no one got burned too badly.

Initially I thought medbs' entries in the statement he posted were similar to a method I trade. Based on what I saw today, I can say I was wrong. We trade very differently.

I didn't mean to come off heavy handed in my earlier posts. It's honestly upsetting to me to see new traders get hurt.



Duke, I noticed you posted on Wormy's thread, you can learn a lot from him, he's a super nice guy.

Don't let this setback get you down, we all make mistakes in the beginning. What MoleculeDuka said about money management is very important.

When I get back from holiday, I'm thinking of starting a trading journal, you're welcome to join in there as well if you like.



Quoting TraderJoe
Why not use this opportunity to learn? Why not set the perverbial ego aside and post some helpful useful thoughts? Who knows, you might even help someone besides yourself... what a thought ehy?


TJ
  • #132
  • May 5, 2010 9:10am May 5, 2010 9:10am
Quoting Fudomyo
Joe,



When I get back from holiday, I'm thinking of starting a trading journal, you're welcome to join in there as well if you like.

Try open a demoaccount in metatrader and doing trades there and posting investigation passwort. much bether then this stupid forum trade posting and much easier. we can do both and compare the wins :-). lets set some rules, like using same moneymanagement, max possible loss for 1 or all open trades for more easy comparing ....

interested?
  • #133
  • May 5, 2010 9:24am May 5, 2010 9:24am
patience guys

all his trades are good
  • #134
  • May 5, 2010 9:26am May 5, 2010 9:26am
Quoting MoleculeDuka
Try open a demoaccount in metatrader and doing trades there and posting investigation passwort. much bether then this stupid forum trade posting and much easier. we can do both and compare the wins :-). lets set some rules, like using same moneymanagement, max possible loss for 1 or all open trades for more easy comparing ....

interested?
I agree posting trades in the forum is a chore.

Honestly, I don't use metatrader to place trades or have time to trade demo. Besides my personal trading, I manage accounts (and post on FF to kill time between trades) I was going to use a segregated live account with what I proposed to medbs earlier.

Let me see what I can set up when I'm back in town. I'm open to sharing information and my live trades. It would be interesting.
  • #135
  • May 5, 2010 9:30am May 5, 2010 9:30am
Quoting Fudomyo
I agree posting trades in the forum is a chore.

Honestly, I don't use metatrader to place trades or have time to trade demo. Besides my personal trading, I manage accounts (and post on FF to kill time between trades) I was going to use a segregated live account with what I proposed to medbs earlier.

Let me see what I can set up when I'm back in town. I'm open to sharing information and my live trades. It would be interesting.
ok would be intersting if you have a chance to near my results. lets see. will be funny. tell me when you are ready, for me its not important then time.
  • #136
  • May 5, 2010 9:31am May 5, 2010 9:31am
Quoting forexlion
patience guys

all his trades are good
you are funny:-).
on sinking ship you even dont trying to swim :-).
with this drawdown in this statement is showing the trader dont know even the basics. and the trades are useless to have at 600 loss before a bigger news, so 1200 drawdown is very realistic and for you are this trades very good (dont try trading by real money then).
maybe you are very new in trading, then ok. But dont say this without looking what happened, because other people maybe believe you.
  • #137
  • May 5, 2010 9:41am May 5, 2010 9:41am
Quoting forexlion
patience guys

all his trades are good

Hello Forexlion

Wath you mean patience should we hold the trades and not exit them.

Thanks for all that want to help others.


Greet you,
Yoenes
  • #138
  • Edited 10:28am May 5, 2010 9:46am | Edited 10:28am
Quoting forexlion
patience guys

all his trades are good
Lion,

Eventually every trade is good. Even Martingale trades if your pockets are deep enough. I guess the question people need to ask themselves is if it fits their budget and can they sustain the drawdown. Especially newbies with small accounts.

You think entering 5 trades where price is at a key reversal point and drawing down heavily with no SL on a big news day is good trading? It's like the guys in interactive who disappear when price moves 600 points against them then show up later after the reversal saying they were "right" all along. Trading that way, of course they're right 100% of the time. lol

Anyway, I have to get the hell off this thread. I don't want to post here anymore.



.
  • #139
  • May 5, 2010 9:48am May 5, 2010 9:48am
My advice to newbies, please dont dribble over his statements, especially when he is not here to give you any crumbs.
Use your brains and learn from some great traders that you can find on this fantastic board. Even in this journal section. These teachers our giving you golden nuggets for free. Do a little research, just in this journal section.
Put some effort into it, youll get there trust me.
  • #140
  • May 5, 2010 10:00am May 5, 2010 10:00am
Quoting ukcool
My advice to newbies, please dont dribble over his statements, especially when he is not here to give you any crumbs.
Use your brains and learn from some great traders that you can find on this fantastic board. Even in this journal section. These teachers our giving you golden nuggets for free. Do a little research, just in this journal section.
Put some effort into it, youll get there trust me.
if someone dont say why he is doing a trade or is doing trade with no SL or martingale you learn nothing. If you find some with this points you need to watch 2 months that he has wins, and only after this you can learn sometimes. If you do this segregation you dont lose more time then even worth. Many people are telling more then knowing. And in forum you find much more of this then in real live!

And on the end: if you have a strategy dont read to much more: or you will doubt maybe if something will be even bether and so on and so on. stay whats working, and reading not neccessary. maybe some postings for fun or for helping other to see some parts of other strategy that would cost them the whoole account....
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