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I lost money during the huge move

  • #21
  • May 8, 2010 10:08am May 8, 2010 10:08am
Quoting Intensity
That being said, there were no thread about someone losing money that day, just one thread with someone boasting about making money so my guess is that other people's losses weren't that great.
Boasting? I think i know which thread you are referring to and it is not justifiable at all to say he was boasting. Stop bashing since you lost money. You were probably a rare spectacle that lost money in this. How much do you need the market to move for it to click for you? Any and anyone sensible could have turned even a loss to a profit. If you didn't, please reconsider this business, as it wasn't really hard at all.

  • #22
  • May 8, 2010 10:12am May 8, 2010 10:12am
Quoting Tbb
Boasting? I think i know which thread you are referring to and it is not justifiable at all to say he was boasting. Stop bashing since you lost money. You were probably a rare spectacle that lost money in this. How much do you need the market to move for it to click for you? Any and anyone sensible could have turned even a loss to a profit. If you didn't, please reconsider this business, as it wasn't really hard at all.

It's a business, stop making it so personal.
  • #23
  • May 8, 2010 10:14am May 8, 2010 10:14am
'grow up'?

Why did you just edit that out? Funny. Ok.

But you should reconsider this business though.
  • #24
  • May 8, 2010 10:21am May 8, 2010 10:21am
He/she is probably a rookie in the market, excited about making some money. Give 'em a break. Probably didn't see it as boasting, just excitement.
  • #25
  • May 8, 2010 10:22am May 8, 2010 10:22am
yeap could be. Still though. He wasn't boasting, whether rookie or not, anyway, back on topic, i was sleeping, so i lost the move completely
  • #26
  • May 8, 2010 10:30am May 8, 2010 10:30am
Quoting Tbb
'grow up'?

Why did you just edit that out? Funny. Ok.

But you should reconsider this business though.
I edited my message because you edited yours

And I'm sorry if it sounded like I was criticizing anyone, I just wanted to say that I could only find threads where people made money on that day, as if there were no losers. I'm not that good at speaking English and it looks it my words were needlessly too aggressive.

I made a very poor performance that day and I posted here to share it, to put it out of me and to be able to continue optimizing my robot this weekend. I know that that performance looks really bad to some people and I expected that reaction because it's true.

But losing 5% a day isn't a reason to quit trading, whatever happened on that day.

You seem quite confident in your abilities and I hope you'll stay around to share your superior analysis with us
  • #27
  • May 8, 2010 10:33am May 8, 2010 10:33am
Quoting Jhig
He/she is probably a rookie in the market, excited about making some money. Give 'em a break. Probably didn't see it as boasting, just excitement.
I wasn't picking on him, I just wanted to say that I was surprised not to see a thread reporting the errors made by traders on that day.
Quite frankly, I don't care enough about some guy on the internet to say something negative about him, I'd rather save my and his energy and shut up if I don't like what he says.
  • #28
  • May 8, 2010 10:37am May 8, 2010 10:37am
Quoting Intensity
But losing 5% a day isn't a reason to quit trading, whatever happened on that day.

You seem quite confident in your abilities and I hope you'll stay around to share your superior analysis with us
Sure thing , don't worry, its just 5%. Mistakes do happen, and 5% is hardly something you should worry about. Its very recoverable.
  • #29
  • May 8, 2010 10:38am May 8, 2010 10:38am
Quoting Intensity
I wasn't picking on him, I just wanted to say that I was surprised not to see a thread reporting the errors made by traders on that day.
Quite frankly, I don't care enough about some guy on the internet to say something negative about him, I'd rather save my and his energy and shut up if I don't like what he says.
No, I didn't implied you were picking on him personally ... its just I remember when i started making a little money trading fx I wanted to tell the world, and I did. I';m a lot more humble now ... Sort of!

lol
  • #30
  • May 8, 2010 10:39am May 8, 2010 10:39am
Many traders got margin calls and lost during this move,my cousin lost the account holding eurusd long (on support...) and taking longs eurjpy at 117.
I was stoped before the move from my broker-bank with ask price traded only in their bank at 125.55(spread was from 9 to 15 pips),after that i got confused,screwed in my mind so i lost couple of long entries on eurusd and eurjpy with tight stops.
6 years of trading,i was sure eur will lose plenty of pips but once again market or who ever make the moves succeed to confuse me and to move without me...
Moves like this one don't happens often,maybe eurusd will deep below parity but be sure 'THEY' will make you go long before the drop...we just can't win here.
Here is the chart where they stopped one of my short trades (past sunday night).About the chart,my shorts was stupid,against 200 MA with CCI (trend cci) above 0
but indexes was falling and i got trapped...
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.jpg Size: 157 KB
  • #31
  • Edited 11:05am May 8, 2010 10:52am | Edited 11:05am
Great idea, wish i heard this Friday, BEFORE i lost about 8%... hahh...


Oh, well, i went and looked at the one minute charts, and holy sh**i could have killed it.

Quoting Sim
tell me about it, couple of people i know went on m1 and pretended it was m15 and made a KILLING.. literally 500+ point PRs each of the two days
  • #32
  • May 8, 2010 11:03am May 8, 2010 11:03am
I find it interessting how many people only listen to their funny little indicators instead of keeping the bigger fundamental picture in mind.
No wonder they can't explain themself days like we had last week.
  • #33
  • May 8, 2010 11:08am May 8, 2010 11:08am
Quoting FnickB
Great idea, wish i heard this Friday, BEFORE i lost about 8%... hahh...
Firstly wtf are u doing losing 8% in one day,, although you have my condolences

secondly ... i couldn't have told you before friday lol!! but just be flexible when you're trading?
  • #34
  • May 8, 2010 11:16am May 8, 2010 11:16am
Quoting TJPLD
I find it interessting how many people only listen to their funny little indicators instead of keeping the bigger fundamental picture in mind.
No wonder they can't explain themself days like we had last week.
QFT. Thats what I meant that it was hard to lose money. And if losing, then to make it into a profit wasn't hard either. Momentum anyone? You could probably just shoot in the dark, and still hit.
  • #35
  • May 8, 2010 5:13pm May 8, 2010 5:13pm
Quoting TJPLD
I find it interessting how many people only listen to their funny little indicators instead of keeping the bigger fundamental picture in mind.
No wonder they can't explain themself days like we had last week.
Maybe because they're too lazy, and/or feel overwhelmed because they don't have a PhD in economics? While I think there are merits to trading either way (manually or using EA's). Both require their own area of expertise.
  • #36
  • May 8, 2010 5:30pm May 8, 2010 5:30pm
I do not approve of your emotions, failed lessons, then you can battle. Failure is the mother of success. Should be in a good mood when trading for transactions happiness.
  • #37
  • May 9, 2010 1:37am May 9, 2010 1:37am
Quoting ecTrade
Maybe because they're too lazy, and/or feel overwhelmed because they don't have a PhD in economics? While I think there are merits to trading either way (manually or using EA's). Both require their own area of expertise.
To figure out that shit hit the fan last week you don't need to have an PhD in Economic. Just read a newspaper lol.

"Ok the whole economy is going south. Markets are droping hundrets of points every day. People die in Grecce."

Ohhh wait but my 5 EMA just crossed my 8 SMA! I bet the Euro will take off any minute now! LOOOOOONG!

  • #38
  • May 9, 2010 3:43am May 9, 2010 3:43am
^ rooofl


BUT THE STOCHASTICS IS OVERSOLD!!!!! REVERSAL IS IMMINENT
  • #39
  • May 9, 2010 4:33am May 9, 2010 4:33am
Thanks God...last week is a good week for me...I make cool money in a day trading....i only trade once in a week....and it pays better than when i trade all the 4 days in a week.....make ur cool money with principles.....
  • #40
  • Edited 5:57am May 9, 2010 5:30am | Edited 5:57am
Quoting TJPLD
To figure out that shit hit the fan last week you don't need to have an PhD in Economic. Just read a newspaper lol.
If you have about 20 trades already tied up with a new strategy you're testing (started it on April 27th), there's not much you can do about it, except keep your fingers crossed and try and ride it out.

Oh yeah, I don't read the paper. I rarely watch the news on TV either. I can't be bothered with it. But, that's just me, I guess ...
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