Xaron's $1,000 to anywhere trading horror show | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

A few beginner questions/horror story 11 replies

"Light" alternative to Bloomberg anywhere? 28 replies

Is there anywhere I can see everyone's open orders 4 replies

Xaron's 1,000 to 10,000 live trading horror show 20 replies

Anywhere i can get/buy old news? 1 reply

Attachments: Xaron's $1,000 to anywhere trading horror show
Exit Attachments

Xaron's $1,000 to anywhere trading horror show

  • #121
  • Jul 9, 2010 7:02pm Jul 9, 2010 7:02pm
Quoting sergiu
There are a lot of banks out there that offer CD accounts that pay over 2% without you having to do anything. And it does not matter how big your account is or how much 2% represents. You could just as well park all of that money in a CD account (or something better) and have the same return %wise. The only reason to put the effort and energy into trading your own money is to generate returns that are higher than at least the most common and almost completely risk and effort free options...
Yep...and I used to be responsible for one of those CDs at a bank.....read my post before you post......I like to take care of my money !
  • #122
  • Jul 9, 2010 7:32pm Jul 9, 2010 7:32pm
Quoting Platypus
Yep...and I used to be responsible for one of those CDs at a bank.....read my post before you post......I like to take care of my money !
I read your post i just don't understand the reason for spending the time doing something that can be done without any involvement on your part with the same results. It would be a different story if you were better at it than the banks. Otherwise might as well relax and enjoy life...
Stubbornly persistent
  • #123
  • Jul 9, 2010 8:55pm Jul 9, 2010 8:55pm
Quoting sergiu
I read your post i just don't understand the reason for spending the time doing something that can be done without any involvement on your part with the same results. It would be a different story if you were better at it than the banks. Otherwise might as well relax and enjoy life...
You have not a clue about what you are talking about my friend. After a certain amount there are a few places where your money can be placed safely. And there are not that much people that can take care of your money safely.

The subject is beyond the scope of this thread, but again...you have no freaking idea about what I'm talking when I talk "money"
  • #124
  • Jul 10, 2010 3:29am Jul 10, 2010 3:29am
Quoting Platypus
You have not a clue about what you are talking about my friend. After a certain amount there are a few places where your money can be placed safely. And there are not that much people that can take care of your money safely.

The subject is beyond the scope of this thread, but again...you have no freaking idea about what I'm talking when I talk "money"
This is what I don't understand about your posts. You say you want to make sure your money is safe, but surely those funds you trade with have to be placed somewhere in order to trade them, whether with a broker, a bank or somewhere else similar, I don't think they have yet come up with a transfer from your mattress. With the amount of money you are talking about, you would probably trade through a bank, so if you just placed the funds with these (same) banks and didn't trade you would probably get more interest than you are earning by trading.
  • #125
  • Edited 10:58am Jul 10, 2010 10:41am | Edited 10:58am
Quoting luckylady
This is what I don't understand about your posts....
Well....there is a lot of stuff that you guys do not understand because ( and I don't blame you guys for it) after a certain "account size" and a lot of time working on the "banking system" you see dangers that regular people don't see, but you also see opportunities.

Let me give you a example.....and by the way thats not what I do and the amount of money is just for illustration.

Lets say that sundelly you win 500 million dollars. what are you going to do with it?

You maybe will sit on top of it and party for the rest of your life. Thats fine, it is your choice but if you study the life of rich people that ended up broke you will see that 500 million dollars can be spent and before you think the money is gone.

Now lets say you are smart, and you want to protect your money so generations after you can still enjoy it. A bank can not protect this kind of money in full. A hyper inflation period can corrode this money in no time. A hedge fund can loose this kind of money even faster. Mutual funds can also mess up and waste fortunes, and the list goes on.

Now lets say that you diversify and park your money in a few kind of different assets, lets say 50 million in gold, 100 million in real state, 20 million in silver etc...etc.

Even after your cash is parked in what ever asset you choose you can still go to a bank and using your assets as collateral trade as if you still had the money. On top of that you still can cut a deal with the bank and work on leverage (usually 3: to 5:1) so if I make lets say 2 % per year it means that I'm doing 6 to 10% based on my collateral.

Again this is only a example, I use more sophisticated ways of diversification , application and leverage but the bottom line is the same.

This guy that told me that he prefers to sit down and enjoy the money will never be rich with this kind of mentality, and if he gets to earn some money he will loose it again.

I do what I love so I enjoy taking care of my money in a smart way, and there is no stress and i don't loose sleep over it because I have everything under control.

Off course we are all humans and prone to mistakes and miscalculations but even if I make a mistake and loose some money I will still have a substantial amount of it so I can re start and I have a clean conscience that I did all I could, not only for myself but to my kids and grand kids.
  • #126
  • Jul 12, 2010 1:39am Jul 12, 2010 1:39am
Xaron, i think you have a good thread and valuable member who post here .. also good members who will teach you what to do with your million when you will have it!

cheers
  • #127
  • Jul 12, 2010 2:50am Jul 12, 2010 2:50am
Hehe, thanks. Still a looong way to go. I'll be on vacation this week, will come back next week so almost no trading this week.
  • #128
  • Jul 13, 2010 11:14am Jul 13, 2010 11:14am
Quoting Xaron
fxswing, thanks for your comments, I appreciate it!

High returns come with high risk and I had (no doubts) very high returns. The trades to get there were ok. The trades after were more gambling, I have to admit that. But to continue with a lower account doesn't make sense to me. $5k is already low.

Shooting for any average return doesn't work in my experience, at least not daily. I aim for about 10% per month but not in the beginning! I don't see a point in making 10% per month with a $1k account, I just want to push it a bit in the beginning....
It has been a while since I have popped in, in fact I just noticed you had started this journal. Mate I have to (once again) take my hat off to you. You are one of only a few who I know that puts themselves on the line and shows honesty, even and especially in your mistakes.

I have recently come to the conclusion, much as I am sure you will agree, that there are very few who can and do take 1k accounts seriously. We are all looking for a small payout for our time and to trade a small account seriously and accept 20-30% per year is a very difficult process in the short run, almost impossible in the long. Unless traders have some form of capital then trading for gains will almost always be a gamble with 1k accounts. At least with 50k there would be the pain of loosing that should hopefully keep you in check.

Take care

Razor
  • #129
  • Jul 22, 2010 1:08am Jul 22, 2010 1:08am
Quoting Platypus
You are saying this because you don't know how much 3% of my main account stands for, if you knew it, you will also get nervous on making or loosing this kind of percentage. Besides....... since i spent my whole carrier taking care of peoples money it doesn't make sense for me to go and give my money to somebody else to take care of it.

My main account is for my kids and grand kids and the generations that will come after them. I like to know exactly where the money is and what is going on with it. I'm actually thinking on lowering my risks...
Hi Platypus and all,

Just stumbled across this thread and some of your responses intrigued me.

And I think I've worked out your strategy.

First I asked myself what I would do if I had loadsa money - lets say about 100 mill dollars - what would I do with it. Not suggesting thats the size of your equity - but it could be.

Well, first I would invest 90 mill in fast women, cars and whiskey. The rest I would gamble with.

No seriously, I would probably buy hard assets with 90 mill - things like gold and silver, maybe antiques, works of art....i.e. things that retain their value but don't pay any interest.

The other 10 mill I'd put in a couple of bank forex accounts, the ones that the banks use, where you don't get any or much leverage but the spreads are like 0.1 pips on the Euro.

Then if I make 10% py on my 10 mill that is only 1% of my equity, but its still 1 mill py - Think I'd be happy with that lol.
  • #130
  • Jul 22, 2010 9:21am Jul 22, 2010 9:21am
I just closed everything. I guess I will stick in a small Euro long again as I think the stress test results tomorrow will be good.

http://www.xaron.net/dl/fx/2010/5k-1...unt_220710.png
  • #131
  • Jul 27, 2010 2:31am Jul 27, 2010 2:31am
That long trade was a good one (I've added some big ones) and now I'm short big time with SL at BE already.

http://www.xaron.net/dl/fx/2010/5k-1...t_270710_2.png
  • #132
  • Edited 8:25am Jul 27, 2010 6:47am | Edited 8:25am
Good to see you're back in the saddle.
I see that breathtaking 10x gearing is back too.
forget about tomorrow, just steal away into the night
  • #133
  • Jul 31, 2010 4:29am Jul 31, 2010 4:29am
First month is done with an awesome return of +70,73%. Because of that I have a huge Euro short position running (the SL would lead to a loss of about 8% which I'm fine with). I don't see the Euro going above 1.31 next week:

http://www.xaron.net/dl/fx/2010/5k-1...unt_310710.png
  • #134
  • Jul 31, 2010 8:57am Jul 31, 2010 8:57am
Quoting Xaron
First month is done with an awesome return of +70,73%. Because of that I have a huge Euro short position running (the SL would lead to a loss of about 8% which I'm fine with). I don't see the Euro going above 1.31 next week:
Hi
What TF u made u r short view depends on it?
Plz Take care , GL
  • #135
  • Aug 9, 2010 8:53am Aug 9, 2010 8:53am
Quoting Xaron
First month is done with an awesome return of +70,73%. Because of that I have a huge Euro short position running (the SL would lead to a loss of about 8% which I'm fine with). I don't see the Euro going above 1.31 next week:

http://www.xaron.net/dl/fx/2010/5k-1...unt_310710.png

Hi Xaron

117.000 units seems to be a risk to take a little getting used to. Hope that you could run this trade in the win.

Wish you great success in the Forex jungle

Keep it on!

FXcube
  • #136
  • Aug 10, 2010 2:49am Aug 10, 2010 2:49am
Well yes, I was short way to early and lost quite some money. But I'm still alive.
  • #137
  • Last Post: Aug 12, 2010 3:04pm Aug 12, 2010 3:04pm
Here is my grid 1.31 to 1.23 . Not sure if it is correct.

http://content.screencast.com/users/...08-13_0122.png

Xaron, had a look into your myfxbook account to correlate trades using my grid.
But there were some trades I dint understand. Very short term trades with 10:1 and above gearings (with lot size as 50000 - 70000). Is it part of BWILC?
0 traders viewing now