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Nearly Naked (Simple Trades)

  • #8,321
  • Aug 30, 2010 4:48am Aug 30, 2010 4:48am
Quoting erikte279
I disagree with this. With true desire and intelligent perserverance these attributes can be cultivated and refined over time.
Morning guys,

Eritke you can disagrree but fact is on my side 97 % traders loose on Forex...When i said some guys cant be traders i mean profesional traders becouse all people on the world can be traders but just 3,4 % can be profesional...




Petar
"Buy on fear, sell on greed !!!
  • #8,322
  • Aug 30, 2010 4:57am Aug 30, 2010 4:57am
So I presume when you say "fact is on my side" that you have comprehensive statistics to back this up?

Quoting Petar_Serbia
Morning guys,

Eritke you can disagrree but fact is on my side 97 % traders loose on Forex...When i said some guys cant be traders i mean profesional traders becouse all people on the world can be traders but just 3,4 % can be profesional...




Petar
Annoying Precision
  • #8,323
  • Aug 30, 2010 5:03am Aug 30, 2010 5:03am
Quoting erikte279
So I presume when you say "fact is on my side" that you have comprehensive statistics to back this up?
HMm i dont undestand well well your question i said for fact about 95 % traders loose on Forex,that is fact and just 3-5 traders is able to succeed....
"Buy on fear, sell on greed !!!
  • #8,324
  • Aug 30, 2010 5:11am Aug 30, 2010 5:11am
nevermind....

Quoting Petar_Serbia
HMm i dont undestand well well your question i said for fact about 95 % traders loose on Forex,that is fact and just 3-5 traders is able to succeed....
Annoying Precision
  • #8,325
  • Aug 30, 2010 5:35am Aug 30, 2010 5:35am
Quoting erikte279
nevermind....
IF you look precise statastic that you cant find.But,just watch this forum and many others you will see how much guys loose how much earn,that is best statistic...




Petar
"Buy on fear, sell on greed !!!
  • #8,326
  • Aug 30, 2010 6:02am Aug 30, 2010 6:02am
Well that's not a statistic, that's an assumption.
Quoting Petar_Serbia
IF you look precise statastic that you cant find.But,just watch this forum and many others you will see how much guys loose how much earn,that is best statistic...




Petar
Annoying Precision
  • #8,327
  • Aug 30, 2010 6:16am Aug 30, 2010 6:16am
Quoting erikte279
Well that's not a statistic, that's an assumption.
Hah ok than 95 % win 5 % loose
"Buy on fear, sell on greed !!!
  • #8,328
  • Aug 30, 2010 6:20am Aug 30, 2010 6:20am
For today i took just one small buy position on EURJPY just to have one relax trade today on holyday.

I risk 35 pips and am going for 130 we will see





Petar
Attached Image (click to enlarge)
Click to Enlarge Name: buy.gif Size: 19 KB
"Buy on fear, sell on greed !!!
  • #8,329
  • Aug 30, 2010 6:32am Aug 30, 2010 6:32am
Quoting Petar_Serbia
Hah ok than 95 % win 5 % loose
my personal assumption is 98.5% lose in the long term. and 1.5% are able to turn consistent profits month after month year after year. And no I don't have any statistics or facts to support my theory.

Peace

-V
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #8,330
  • Aug 30, 2010 6:33am Aug 30, 2010 6:33am
Your making me Proud now! It's always better to be an optimist in the face of ignorance then a pessimist.
Quoting Petar_Serbia
Hah ok than 95 % win 5 % loose
Annoying Precision
  • #8,331
  • Aug 30, 2010 6:40am Aug 30, 2010 6:40am
Quoting erikte279
Your making me Proud now! It's always better to be an optimist in the face of ignorance then a pessimist.
Eritke my friend ,isnt good always to be optimist that can destroy you in some buisnese.I earned very good money from Forex and still earn but main thing is that isnt guarante for future and i still work trading like relaxing and dont expext much if that happen is good if not also is ok becouse i deposit on balance money i can afford for that.I earned about 20 X more than i deposit first time on balance..If i stop trading now i will be one of 5-10 % positive traders that is point,you must know when to stop and to go enjoy...

Of course this is on my own acc but i still work for company but that isnt my money that is diferent
"Buy on fear, sell on greed !!!
  • #8,332
  • Aug 30, 2010 9:48am Aug 30, 2010 9:48am
sold the loony


bought cadjpy
  • #8,333
  • Aug 30, 2010 10:19am Aug 30, 2010 10:19am
Thanks redsword11

I also took the trade on USDCAD -entry at supply zone
Let's see what happens



Quoting redsword11
sold the loony


bought cadjpy
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 17 KB
  • #8,334
  • Aug 30, 2010 11:58am Aug 30, 2010 11:58am
Quoting redsword11
sold the loony


bought cadjpy

Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.jpg Size: 94 KB




Red
  • #8,335
  • Aug 30, 2010 12:00pm Aug 30, 2010 12:00pm
Quoting AndreasF
Thanks redsword11

I also took the trade on USDCAD -entry at supply zone
Let's see what happens

not a pretty trade, but should go if cadjpy holds this demand zone, inverted pairs



Red
  • #8,336
  • Aug 30, 2010 12:20pm Aug 30, 2010 12:20pm
Quoting redsword11
Attachment



Red

Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.jpg Size: 97 KB
  • #8,337
  • Aug 30, 2010 2:43pm Aug 30, 2010 2:43pm
Attached Image (click to enlarge)
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  • #8,338
  • Aug 30, 2010 2:46pm Aug 30, 2010 2:46pm
Quoting redsword11
Attachment



supply zones approaching

Attached Image (click to enlarge)
Click to Enlarge Name: uj.jpg Size: 98 KB
  • #8,339
  • Aug 30, 2010 3:02pm Aug 30, 2010 3:02pm
Attached Image (click to enlarge)
Click to Enlarge Name: dx.jpg Size: 85 KB



this does not mean uj sinks, actually its more likely uj rallies
  • #8,340
  • Aug 30, 2010 3:41pm Aug 30, 2010 3:41pm
Quoting s2659
my personal assumption is 98.5% lose in the long term. and 1.5% are able to turn consistent profits month after month year after year. And no I don't have any statistics or facts to support my theory.

Peace

-V
Typing from the iPad walking my dog, but saw your posts on this topic. It is true that the majority burn through their accounts, but I believe that it is due to some simple yet common mistakes.

People tend to rely on indicators too much and not the obvious that is in front of them. There is no holy Grail. Price action, price action and more price action.

People tend to make rules and not obey them. If you make some simple rules and trade them, you stand a far better chance.

And then there is the killer of all killers, emotions. Sounds cliche, but emotions, I believe, are the #1 killer. Everyone here can look back and remember times when emotions burned up an account. Stuff like "what if it turns now and I miss the trade, I cand bend my rules a few pip." I am super guilty of letting emotions get the best of my trading.

For me, I keep my rules simple and have no more than 5-10. Any more than that and the rule lines can get blurred and become ambiguous. The best acronym in the world KISS (Keep It Simple Stupid).

Ya, most people will burn through their accounts a few times trying to overcome emotions and shooting from the hip, but that is how we learn. I still catch myself arguing with my emotions. There is no mark stamped on your head saying that you will be part of the losing percentage, there is not some pre destined pool of winners and loser. It all boils down to learning from your mistakes and overcoming your emotions.
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