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  • #235,561
  • Jul 5, 2010 7:55am Jul 5, 2010 7:55am
Quoting vilas
There is ONE good thing about accounts posted by good traders - it gives you the confidence that it can be DONE. You must have a vision - see it in your mental eye if you have to succeed in accomplishing something.

Sorry, vilas but we don't need accounts and a d!ck swining contest here, if Forex was not profitable, it would not exist, period. That is your vision, if you want to see accounts and success look here:

http://www.barclayhedge.com/research.../sub/curr.html

Now that clearly shows FX is profitable, very profitable.
  • #235,562
  • Jul 5, 2010 8:01am Jul 5, 2010 8:01am
Quoting cloggie
............
And that again in a nutshell is different approaches to trader's different strategies. A "newer" trader just needs to find one he/she likes, one he/she has backtested succesfully and one he/she can make money with.

That is also a brief synopsis of the different posters here, there are different TF's and different strategies, it does not mean that a poster is wrong here, it just means it does not suit your style.
Very beautifully summed up in last 2 paras and this is why I had suggested that it is enough if those making posts simply state what they are doing or is the best thing to do under the circumstances. There is no point stating that someone's statement is this or that or statments can be made up etc. I am sorry to remark that this post (not by you) was very negative as it first accuses the poster of being a Liar ! We are required to respect each other ? Right ! If a liar is discovered, he should be exposed but to simply make comments is counter-productive and waste of time and space.
  • #235,563
  • Jul 5, 2010 8:08am Jul 5, 2010 8:08am
Quoting cloggie
Sorry, vilas but we don't need accounts and a d!ck swining contest here, if Forex was not profitable, it would not exist, period. That is your vision, if you want to see accounts and success look here:

http://www.barclayhedge.com/research.../sub/curr.html

Now that clearly shows FX is profitable, very profitable.
No Cloggie ! I do not want to see anybody's accounts - my own is enough. And I know FX is profitable but for how many ? That remark was directed at Newbies who may not even know that Barclays have produced such statistics - I know they exist but where is the need to see them ? You do it, if profitable, you continue, if not you try to learn better or ...

What do you think of Germany Vs Orange ? A tougher decision than Forex, I must say ! Cheers !
  • #235,564
  • Jul 5, 2010 8:09am Jul 5, 2010 8:09am
If one want to see results, one should see what the market can give you, not a few posters here with Photoshop.

Look at these guys, only a small fund, 95mm AUM, but they are targeting 18% a year and managed 22.4 last year with a S/R of 3.0 (bit high for my liking) and that is with a leverage of probably 2:1 at most and they were voted European currency fund of the year by their peers:

http://www.hedgefundsreview.com/hedg...set-management

They get 18% with 2:1, imagine what you can do with 200:1..........
  • #235,565
  • Jul 5, 2010 8:15am Jul 5, 2010 8:15am
Say for instance I shorted a while back at 1.5006, is the run downward done? Liquadte position now?
  • #235,566
  • Jul 5, 2010 8:16am Jul 5, 2010 8:16am
Quoting vilas
A very frank and interesting self-restrospection. And that is the way to Profits. So, you finally found how to counter emotions : Mastery of your system is part of it - one has to pay his dues at the altar of "Study".

Congratulations, Navin.

thank u brother!!
The counter for me against emotion was belief..b4 the start of this year i didnt believe in my own analysis while other did..the crazy thing is: it was my loss on the euro and cable trade at the end of last year that provided a catalyst

I realise is not the knowledge of movement in the market but my inablity to take risk and manage it..then somehow something changed..i made a promise to myself that i must think different..i need to believe in myself. (new year resolution)..LOL

I stopped reading about trading methods and focused on the mind and being positive..think postively..that has lead me to here..plan to continue, its working and my mindset has changed with regard to trading

”Words can never adequately convey the incredible
impact of our attitudes toward life. The longer I live the more
convinced I become that life is 10 percent what happens to us and 90
percent how we respond to it.” -Charles R. Swindoll


reading quotes that can help..help!!.LOL
  • #235,567
  • Jul 5, 2010 8:18am Jul 5, 2010 8:18am
Quoting gotpips92
Say for instance I shorted a while back at 1.5006, is the run downward done? Liquadte position now?
Look at my chart, PA is respecting it very well.....
Don't be a hero. Don't have an ego. Always question yourself
  • #235,568
  • Jul 5, 2010 8:21am Jul 5, 2010 8:21am
Quoting gotpips92
Say for instance I shorted a while back at 1.5006, is the run downward done? Liquadte position now?

This a trade from last week? You should be able to get out at BE here shortly. Now next time don't hold them for -220 pips
  • #235,569
  • Jul 5, 2010 8:22am Jul 5, 2010 8:22am
Quoting cloggie
Sorry, vilas but we don't need accounts and a d!ck swining contest here, if Forex was not profitable, it would not exist, period. That is your vision, if you want to see accounts and success look here:

http://www.barclayhedge.com/research.../sub/curr.html

Now that clearly shows FX is profitable, very profitable.
In lighter vein, FX exists because CitiBank makes 500 million dollars profits every quarter taking orders from Fat Cat Clients. All Banks make profits not on their own orders but servicing Client-orders. HSBC, RBS and whole lot of others. There are Banks in Singapore who entertain their Investor -clietns with Black Label when they go for trading ! Long story and I don't want to get sued but I know a few who are a "mini-bank" in themselves who got hit by the double-talk of big bankers ! And lastly, just imagine what better way is there to advertise the profitablity of FX other than Research that FX is profitable ! Never accept Bank-advice when trading Currencies !

Again, Cheers - "The world Revolves like ancient women gathering fuel in Vacant lots " - T.S. Eliot.

Everyone has to do something to pass time - some people visit Las Vegas, others try FX. These people are of course not from our Ranks !
  • #235,570
  • Jul 5, 2010 8:25am Jul 5, 2010 8:25am
i can't find me dancing bear
Thank You
  • #235,571
  • Jul 5, 2010 8:26am Jul 5, 2010 8:26am
Quoting vilas
In lighter vein, FX exists because CitiBank makes 500 million dollars profits every quarter taking orders from Fat Cat Clients. All Banks make profits not on their own orders but servicing Client-orders. HSBC, RBS and whole lot of others. There are Banks in Singapore who entertain their Investor -clietns with Black Label when they go for trading ! Long story and I don't want to get sued but I know a few who are a "mini-bank" in themselves who got hit by the double-talk of big bankers ! And lastly, just imagine what better way is there to advertise...

Global HF AUM at its peak was 5 trillion with about 30% of that in currencies so HF's alone traded over 1 trillion in FX only 2 years ago. Right now global AUM is around the 2 trillion mark so still lots dabble in FX.
  • #235,572
  • Jul 5, 2010 8:29am Jul 5, 2010 8:29am
Quoting wormboy
i can't find me dancing bear

He is still stocking up on donuts and beer.....
  • #235,573
  • Jul 5, 2010 8:32am Jul 5, 2010 8:32am
People beware of people like this:-

i am posting this as an example of someone trying to prey on the vunerable:- dont be caught
That fool just private pm'ed me..id have banned him but i dunno how too
Attached Image (click to enlarge)
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  • #235,574
  • Jul 5, 2010 8:33am Jul 5, 2010 8:33am
Quoting cloggie
This a trade from last week?

2 weeks old. Averaged into it.
  • #235,575
  • Jul 5, 2010 8:34am Jul 5, 2010 8:34am
Quoting cloggie
If one want to see results, one should see what the market can give you, not a few posters here with Photoshop.

Look at these guys, only a small fund, 95mm AUM, but they are targeting 18% a year and managed 22.4 last year with a S/R of 3.0 (bit high for my liking) and that is with a leverage of probably 2:1 at most and they were voted European currency fund of the year by their peers:

http://www.hedgefundsreview.com/hedg...set-management...
There is a small Fund Manager in UK. The bulk of his equity is managed by a 2 Professionals. He trades for fun and turns in 2 % every day - can't remember how much leverage etc.
But Cloggie, you seem to overlook that much more than 18% is made but the rest goes to pay their execs and traders and this is another reason why right advice is not forthcoming from Banks - they want to trade your money as this is what buys bread and buttter for them !
  • #235,576
  • Jul 5, 2010 8:35am Jul 5, 2010 8:35am
Quoting vilas
There is a small Fund Manager in UK. The bulk of his equity is managed by a 2 Professionals. He trades for fun and turns in 2 % every day - can't remember how much leverage etc.
But Cloggie, you seem to overlook that much more than 18% is made but the rest goes to pay their execs and traders and this is another reason why right advice is not forthcoming from Banks - they want to trade your money as this is what buys bread and buttter for them !

They make 2/20 so they only make anything significant when their clients do.
  • #235,577
  • Jul 5, 2010 8:35am Jul 5, 2010 8:35am
Quoting nAVIN2007
People beware of people like this:-

i am posting this as an example of someone trying to prey on the vunerable:- dont be caught
That fool just private pm'ed me..id have banned him but i dunno how too
There are others - their post consists of only a link to their Facebook page !
  • #235,578
  • Jul 5, 2010 8:36am Jul 5, 2010 8:36am
Quoting cloggie
This a trade from last week? You should be able to get out at BE here shortly. Now next time don't hold them for -220 pips

There you go. Now spend a bit of time studying on how to identify the trend and reading up about the danger of averaging down a bad trade. For most traders it is hard to admit they are wrong, so hard actually that they prefer to average down just to prove to themselves that they are not wrong and end up 200 pips in the hole.
  • #235,579
  • Jul 5, 2010 8:39am Jul 5, 2010 8:39am
YEs one of my many mistakes in that trade.
#2 didn't follow plan
#3 failed to tp when I had 70 pips
  • #235,580
  • Jul 5, 2010 8:41am Jul 5, 2010 8:41am
Quoting nAVIN2007
thank u brother!!
The counter for me against emotion was belief..b4 the start of this year i didnt believe in my own analysis while other did..the crazy thing is: it was my loss on the euro and cable trade at the end of last year that provided a catalyst

I realise is not the knowledge of movement in the market but my inablity to take risk and manage it..then somehow something changed..i made a promise to myself that i must think different..i need to believe in myself. (new year resolution)..LOL

I stopped reading about trading methods and focused...
This is very interesting, Navin, - woundn't mind a little info re. this. I do avoid Psycho stuff but since this is your personal experince, it could be more meaningful. My Technique is sound so I am able to come out ahead but another arrow in the quiver won't hurt !
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