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  • #307,181
  • Oct 14, 2010 11:55pm Oct 14, 2010 11:55pm
G'day folks!

How's the trading going?
Not all sins are created equal
  • #307,182
  • Oct 14, 2010 11:55pm Oct 14, 2010 11:55pm
Quoting jamesvdm
I would call that less of a key to success and more a basic point to learn before trading real money.
Really?
So that's what at least some 90% traders adhere to?

I stopped using SL some three years ago, after I succesfully blown up my first account. Since then, only in rare cases when I have to leave both open position and my comp, I use very very wide, account protecting SL of about 200 pips.

Once you realize that your broker is your foe (contender, at least) you start to re-evaluate generally accepted old "truths" - to your avail (and pls, no flame about proper broker selection, statistics speaks clearly).
  • #307,183
  • Oct 14, 2010 11:58pm Oct 14, 2010 11:58pm
Quoting JanPoko
Really?
So that's what at least some 90% traders adhere to?

I stopped using SL some three years ago, after I succesfully blown up my first account. Since then, only in rare cases when I have to leave both open position and my comp, I use very very wide, account protecting SL of about 200 pips.

Once you realize that your broker is your foe (contender, at least) you start to re-evaluate generally accepted old "truths" - to your avail (and pls, no flame about proper broker selection, statistics speaks clearly).
I agree with you, but only after the trader develops self control to manually close the position when its time. Until then, SL's are probably better for beginners. Ive been letting my losers run lately so am switching back to mandatory SL until i see myself regaining my self control.
  • #307,184
  • Oct 15, 2010 12:01am Oct 15, 2010 12:01am
is like right now do you think this thing is going to go anywhere without touching the DPP, it could but not likely the yurow always respect the PPs after that we are almost in frankie so she is going to do what ever but at least she is touching this 1.4052 now later or tonight you can count on it
The Chonchy
  • #307,185
  • Oct 15, 2010 12:01am Oct 15, 2010 12:01am
Quoting chonchy
DMA take a look at this chart

If you have to chose from a side to where to go and you have 61% on one side in favor of the trend and 50% on the other side against the trend wish one will you chose? it has travel to long to stop here in the midle of no where like your trading desk so she is not going to go back down without touching it maybe a retrace to the 50% again but defenetly unless the PIGS return this is going up notice the Parabolic sar where it is do you think is going to return now, no way man this long term tren is on her way to the...

nice chart. well that area is like a magnet. also beautiful pattern on monthly.
it doesn't get any better than this. the trend is very powerful. now everything happens way faster than old days. courtesy of flash trading.
So charts rule.

anyway the only time i remember a move so powerful like this one. was Q.E. 1
funny isn't it. ?

weekly looks bullish. the only thing that can stop this train is the LTL. 1.43-1.45. above double top. ....
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #307,186
  • Oct 15, 2010 12:02am Oct 15, 2010 12:02am
Quoting Jay Walker
G'day folks!

How's the trading going?
hello Jay how are you tonigh?
The Chonchy
  • #307,187
  • Oct 15, 2010 12:02am Oct 15, 2010 12:02am
Quoting chonchy
DMA take a look at this chart

If you have to chose from a side to where to go and you have 61% on one side in favor of the trend and 50% on the other side against the trend wish one will you chose? it has travel to long to stop here in the midle of no where like your trading desk so she is not going to go back down without touching it maybe a retrace to the 50% again but defenetly unless the PIGS return this is going up notice the Parabolic sar where it is do you think is going to return now, no way man this long term tren is on her way to the...
Eventually what you say may occur.

However, trends usually have significant retracements, and this one has not. At some point there is going to have to be a very large retracement to the 50 or 68 fib. It could be now or next week or whenever, and when it happens, considering how far this trend has gone, you will want to be short.
  • #307,188
  • Oct 15, 2010 12:02am Oct 15, 2010 12:02am
Quoting Jay Walker
G'day folks!

How's the trading going?
Hi man.

slow trading.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #307,189
  • Oct 15, 2010 12:04am Oct 15, 2010 12:04am
Quoting JanPoko
Really?
So that's what at least some 90% traders adhere to?

I stopped using SL some three years ago, after I succesfully blown up my first account. Since then, only in rare cases when I have to leave both open position and my comp, I use very very wide, account protecting SL of about 200 pips.

Once you realize that your broker is your foe (contender, at least) you start to re-evaluate generally accepted old "truths" - to your avail (and pls, no flame about proper broker selection, statistics speaks clearly).
I only partially agree with that JanPoko.

Using a S/L while leaving enough space for your trade to breathe is good. As far as not using one at all, it depends of the TF and experience.

It doesn't matter if one has a tight or a wide SL, if he doesn't know what he's doing, he's f@#ked, plain and simple.

Time frame because if one is scalping, he's likely to babysit the trade and will either win, get wiped out or panic and close at -5 pips.

And the foe is not just your broker. The whole financial system is.
Not all sins are created equal
  • #307,190
  • Oct 15, 2010 12:05am Oct 15, 2010 12:05am
Quoting chonchy
hello Jay how are you tonigh?
Tired hungry and horny.

You?
Not all sins are created equal
  • #307,191
  • Oct 15, 2010 12:06am Oct 15, 2010 12:06am
Quoting JanPoko
Really?
So that's what at least some 90% traders adhere to?

I stopped using SL some three years ago, after I succesfully blown up my first account. Since then, only in rare cases when I have to leave both open position and my comp, I use very very wide, account protecting SL of about 200 pips.

Once you realize that your broker is your foe (contender, at least) you start to re-evaluate generally accepted old "truths" - to your avail (and pls, no flame about proper broker selection, statistics speaks clearly).
No flame, I agree with you completely.

The other guy is talking about losing all his capital when forgetting to put a SL so I would guess he is trading quite differently to you and I.
  • #307,192
  • Oct 15, 2010 12:07am Oct 15, 2010 12:07am
Quoting DMA Trader
Hi man.

slow trading.
My last trade, I went long on EUR/GBP. That was on September 21st.

Slow enough for you?
Not all sins are created equal
  • #307,193
  • Oct 15, 2010 12:10am Oct 15, 2010 12:10am
Quoting DMA Trader
nice chart. well that area is like a magnet. also beautiful pattern on monthly.
it doesn't get any better than this. the trend is very powerful. now everything happens way faster than old days. courtesy of flash trading.
So charts rule.

anyway the only time i remember a move so powerful like this one. was Q.E. 1
funny isn't it. ?

weekly looks bullish. the only thing that can stop this train is the LTL. 1.43-1.45. above double top. ....
of course DMA QE1 and QE2 who ealse do you think that move the markets, they are but they are allready in,the news is to make you go with them but they are allready in they are the market makers, they call the shots and then they call the news and tell them what they want, you just have to read your chart and follow them, I scalp you know I'm a compulsive scalper if you want to know more about position trading you should ask Jay Walker that predict this long moves with the acuracy of a ROLEX but I have learn from him to look at this long views and he never fail me but I just scalp I trade out of the 1M, 3M, and 6M chart, yes very fast moves I know but that is what I like if I have to stay all day here waiting for a move I go back laying tile and marble, sorry for the rant guys, so sorry
The Chonchy
  • #307,194
  • Oct 15, 2010 12:10am Oct 15, 2010 12:10am
Quoting Jay Walker
My last trade, I went long on EUR/GBP. That was on September 21st.

Slow enough for you?
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #307,195
  • Oct 15, 2010 12:10am Oct 15, 2010 12:10am
Quoting Jay Walker
My last trade, I went long on EUR/GBP. That was on September 21st.

Slow enough for you?
Nice ^_^
  • #307,196
  • Oct 15, 2010 12:13am Oct 15, 2010 12:13am
Quoting Jay Walker
My last trade, I went long on EUR/GBP. That was on September 21st.

Slow enough for you?
The Chonchy
  • #307,197
  • Oct 15, 2010 12:14am Oct 15, 2010 12:14am
Quoting Jay Walker
My last trade, I went long on EUR/GBP. That was on September 21st.

Slow enough for you?
I've done something similar but couldn't resist that much.
And looking on my charts. we are at some serious resistance we got here.
i mean this .88 area.

Long term trend line hit. why don't you take profits ?
are you waiting for this pair to turn before taking profits. or waiting for more upside ?

thanks
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #307,198
  • Oct 15, 2010 12:16am Oct 15, 2010 12:16am
Quoting moonchild
Eventually what you say may occur.

However, trends usually have significant retracements, and this one has not. At some point there is going to have to be a very large retracement to the 50 or 68 fib. It could be now or next week or whenever, and when it happens, considering how far this trend has gone, you will want to be short.
50% we are and 68% we are going yes retracement maybe yes maybe not is all in what they have plan to F%$$ you out of your dollar and what they have allready planed, me think, my 2 cents not a recomendation folks trade smart look at your chart and luck at them all
The Chonchy
  • #307,199
  • Oct 15, 2010 12:16am Oct 15, 2010 12:16am
Quoting DMA Trader
I've done something similar but couldn't resist that much.
And looking on my charts. we are at some serious resistance we got here.
i mean this .88 area.

Long term trend line hit. why don't you take profits ?
are you waiting for this pair to turn before taking profits. or waiting for more upside ?

thanks
Didn't take profit because I'm not in a rush.

If it turns, I'll take profits. If it goes higher, I'm sticking around. It's as simple as that.
Not all sins are created equal
  • #307,200
  • Oct 15, 2010 12:22am Oct 15, 2010 12:22am
Quoting Jay Walker
Didn't take profit because I'm not in a rush.

If it turns, I'll take profits. If it goes higher, I'm sticking around. It's as simple as that.
here is why i was asking.
simple chart

Also
some resistance on EUR cross pairs.

thanks
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Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
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