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  • #332,301
  • Nov 24, 2010 10:50am Nov 24, 2010 10:50am
Quoting behman8850
I am a day trader, i do not put stoploss ever! I wish to know what is this 14 stand for in sma 14?/ is it 14 days moving average? if so on what timeframe it suits best??
Thanks

lotta gamblers in this forum ic


you should always use a hard stop....esp in these conditions anything can and will happen
  • #332,302
  • Nov 24, 2010 10:51am Nov 24, 2010 10:51am
Quoting Mr Hatch
hi stan,

yes, like hell. shorted in asia at 3420 after a bit of tiny-scalping. shorted on the way up in london at 3340, 3380 and 3420 again, and i still have yesterday's position open (the rest of it).
your in good shape then.

stan
  • #332,303
  • Nov 24, 2010 10:51am Nov 24, 2010 10:51am
Quoting bradu
@egkid

you must have started with a large acc....since it took 2y to lose 75% of it

am i wrong ?
Yes , It wasn't large at all
  • #332,304
  • Nov 24, 2010 10:51am Nov 24, 2010 10:51am
Quoting druckenmillr
sorry man.

i have no clue.

i've never used a 14 SMA do i really don't know what the best use for it would be.

might i suggest a mechanical approach?

stan
Go ahead buddy! Whats your mechanical approach? any indis?? Whats your trading plan??
  • #332,305
  • Nov 24, 2010 10:52am Nov 24, 2010 10:52am
Quoting egkid
Same question i was looking to an answer on it when i start trade
i didn't below my first live account till now and i didn't start with demo but i started with live and guess what i loss 75% of it in first 2 year then i stopped and told my self wait i have no other choice but must success since then i take back what i lost and got nice ++ all the last 14 months
any way
success in my view
50% your system (Do u have stable system or still test some indicators)??
50% Psychology (Grown up trader that u will get by time)

Hope that help
EG good for you buddy. That you are sticking with it. Those that throw in the towl dont realize that if they stick with it they learn. I traded demo, hated it. I see no use in it except for the fact of how to work the platform , how to enter a trade, stop and limits and what not... Other than that I think demo is hogwash so many people open up 50K and 100K unrealistic demo's trading 10K lots at a time.

I opened a $2K demo acct and built that up to $12K in about a week. Started live account and was completely different.

I just realy look at consistency of trends but they need to be in confluence with other number levels such as sweet numbers, and paying attention to increasing or decreasing zones and buying support of zones on uptrend and visaversa.

I dont use MA's or Stoch's or anything like that. I usually enter in on a M1 chart based on PA.
Know when to hold em, Know when to fold em!
  • #332,306
  • Nov 24, 2010 10:53am Nov 24, 2010 10:53am
Quoting mfoste1
lotta gamblers in this forum ic


you should always use a hard stop....esp in these conditions anything can and will happen
your opinion please?
  • #332,307
  • Nov 24, 2010 10:54am Nov 24, 2010 10:54am
Quoting akhtergroup
It's always about the money isn't it?
if you and i beat the market month in and month out and we both averaged 4%...

and you had 100 mill under head and i had 5 mill most would consider you the better trader.

stan
  • #332,308
  • Nov 24, 2010 10:55am Nov 24, 2010 10:55am
Quoting druckenmillr
your in good shape then.

stan
percentage wise, yes. but i trade really small positions compared to the other guys around. that's, if you can believe what they're telling you.

i found out one thing for sure. i can stay successful many times in a row just following my system and using positions that fit my account.

one deviation, and market starts hunting me like a wounded gazelle in serengeti.

so, i make quite a few pips, but the value in real money is... well, just enough not to get rich quick.
  • #332,309
  • Nov 24, 2010 10:56am Nov 24, 2010 10:56am
Quoting behman8850
Go ahead buddy! Whats your mechanical approach? any indis?? Whats your trading plan??
find one that fits your personality.

mine isn't important... you need to come up with one for you.

my plan is account preservation over account accumulation.

stan
  • #332,310
  • Nov 24, 2010 10:57am Nov 24, 2010 10:57am
Quoting egkid
Yes , It wasn't large at all
thanks for answer man

i blew my first live acc in 2 months ...a mini one
  • #332,311
  • Nov 24, 2010 10:58am Nov 24, 2010 10:58am
Quoting behman8850
your opinion please?

use a hard stop even, if you close your positions manually....

even if you plan on having a mental/manual stop at say 20 pips, you should still have a hard stop above that. Price can move very fast in illiquid conditions, before you know it you could be 50 pips in red when you "planned on getting out at -20....
  • #332,312
  • Nov 24, 2010 10:59am Nov 24, 2010 10:59am
Quoting goods
I dont use MA's or Stoch's or anything like that. I usually enter in on a M1 chart based on PA.
I could b wrong but what i think is U should start by bigger TF.
Trading like finger print no trader like other ,So test and choose ur favorite TF that work for you.

For me I try all TF but i like look to weekly and trade daily and 4h.
  • #332,313
  • Nov 24, 2010 11:01am Nov 24, 2010 11:01am
Quoting Mr Hatch
percentage wise, yes. but i trade really small positions compared to the other guys around. that's, if you can believe what they're telling you.

i found out one thing for sure. i can stay successful many times in a row just following my system and using positions that fit my account.

one deviation, and market starts hunting me like a wounded gazelle in serengeti.

so, i make quite a few pips, but the value in real money is... well, just enough not to get rich quick.
no one here is getting rich quickly.

sounds like you understand risk management better than most and you're doing just fine.

stan
  • #332,314
  • Nov 24, 2010 11:02am Nov 24, 2010 11:02am
Quoting egkid
I could b wrong but what i think is U should start by bigger TF.
Trading like finger print no trader like other ,So test and choose ur favorite TF that work for you.

For me I try all TF but i like look to weekly and trade daily and 4h.

I suck at entries on big tf. Dont get me wrong I use big tf I scale in to M1 for my entries I do confirme it with M5 though. I go with overall trend. I am done trying to pick tops and bottoms. sometimes I will play intraday trends and if I do then and only then do I find that I have successfully picked a top or bottom. My intent is from holding for a smaller time but can grow to multiple days because the overall trend reversed and I just happened to be on a point of no return on the smaller intraday trend.
Know when to hold em, Know when to fold em!
  • #332,315
  • Nov 24, 2010 11:03am Nov 24, 2010 11:03am
Quoting gatorinla
3304 area looks probable soon,,, void over 3373..
predictive math says move is still strong.. and 3253 is a st target #1. currently bouncing off the upper mofu of the move. the tl (low) and 3333 are strong.. void this chart with a new high.. it may take several tries to break the support tl. buy low sell high
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those who can, do. those who cant, talk about those who can
  • #332,316
  • Nov 24, 2010 11:03am Nov 24, 2010 11:03am
Quoting mfoste1
lotta gamblers in this forum ic


you should always use a hard stop....esp in these conditions anything can and will happen
He told you he is a day trader - it's common that day traders don't use stops especially in FX.
  • #332,317
  • Nov 24, 2010 11:04am Nov 24, 2010 11:04am
hatch you where spot on about that resistance up there, btw, bulls could neve manage a close above 3405...
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Look Sharp/Trade Tight
  • #332,318
  • Nov 24, 2010 11:06am Nov 24, 2010 11:06am
Quoting druckenmillr
no one here is getting rich quickly.

sounds like you understand risk management better than most and you're doing just fine.

stan
i also had to learn the harder way, that's for sure. it's not difficult to be successful in a trending market, and i started trading when eu started to drop last january. but as soon as we hit the 1st real range, it put me off beyond believe, because i wasn't prepared for it.
if i had just left any loser open for a couple of days in february march, i would not have lost a single trade back then... that was a lesson.
  • #332,319
  • Nov 24, 2010 11:06am Nov 24, 2010 11:06am
added to my short: @pivot 3349 we shall see... hoping to get to w7 low pivot -

trading from THV v3 system as chart templates 30m TF

... and a little common sense!

~Bles5ed
  • #332,320
  • Nov 24, 2010 11:07am Nov 24, 2010 11:07am
Quoting Mr Hatch
percentage wise, yes. but i trade really small positions compared to the other guys around. that's, if you can believe what they're telling you.

i found out one thing for sure. i can stay successful many times in a row just following my system and using positions that fit my account.

one deviation, and market starts hunting me like a wounded gazelle in serengeti.

so, i make quite a few pips, but the value in real money is... well, just enough not to get rich quick.
Yep, good post
Greed and need to get more money much more is the trader first enemy!
That what i mean in previous post by saying 50% of success psychology

I think a good trader will Lose only because "fighting human natural of want more money"
That remind me of my Favorite singer
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