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  • #383,421
  • Feb 9, 2011 7:03pm Feb 9, 2011 7:03pm
Quoting cowboypips
Thats an awful lot , I have a rule that i will never lose more than 5% on any given trade , 5% is easier to get back than 80%, I try and use the best money management that I can !

I know but i'm stupid...
no matter how many times i keep tell myself
not to trade during London n NY overlap
I just can't do it ... always lose during that time...
I won 80% of the time during other session
  • #383,422
  • Feb 9, 2011 7:03pm Feb 9, 2011 7:03pm
Quoting jack.canadia
Anyone seeing a Head/Shoulders in EURO?
neck line is a bit skewed, but now you come to mention it...

was neater sloping before it took out 3666 level
  • #383,423
  • Feb 9, 2011 7:04pm Feb 9, 2011 7:04pm
Quoting aarontdang
I know but i'm stupid...
no matter how many times i keep tell myself
not to trade during London n NY overlap
I just can't do it ... always lose during that time...
I won 80% of the time during other session
if nothing helps, use child-protection on your computer.
  • #383,424
  • Edited 7:07pm Feb 9, 2011 7:05pm | Edited 7:07pm
Quoting Piptaker
Another lesson is (if someone loses 50% of their account then it will take a gain of 100% to get back to even).
At least nobody does the following trick any more, although it used to be done by the more shady elements of the manager business:

Start with 100, end with 50, so lose 50% the first period.

Start with that 50, end with 80, so gain 60% second period.

(Arithmetic average) of manager's performance: (-50% + 60%)/2 = 5% profitable.
  • #383,425
  • Feb 9, 2011 7:07pm Feb 9, 2011 7:07pm
Quoting FibbinArchie
neck line is a bit skewed, but now you come to mention it...
Yeah these things can never be textbook...

Still worth consideration though.
  • #383,426
  • Feb 9, 2011 7:10pm Feb 9, 2011 7:10pm
Quoting jack.canadia
Yeah these things can never be textbook...

Still worth consideration though.
Absolutely, very rarely is it that neat...
  • #383,427
  • Feb 9, 2011 7:14pm Feb 9, 2011 7:14pm
you are absolutely right. however the account size has nothing to do with it. you can go in with a 100K account and trade half a lot and still lose. everything has to do with your pain tolerance at loses. is 500 bux a lot for you to see in a SL get hit or a regular draw down? maybe it is... for other people that's just the spread they pay. so my advise is find a trade size you are comfortable with and play 20% of that. then the money component will disappear and you will be able to focus on your trading instead. then as you get confident increase that little by little and like you said, money will come. they are just the byproduct of all these.

Quoting Venice
Even the ones with smaller accounts, like myself, find it so hard to realize how much easier trading becomes when using micro lots.

If your trading a 500$ account or less, .01-.02 maximum lot sizes. Play pennies. Move up proportionally as your account size increases.

If you constantly loose, at least you are loosing little.

It's such an easy concept to grasp, and yet no one ever follows it, regardless of the times it is barked down ones throat.

It only took me two blown accounts to stop doing that! lol.

Pips are pips... if you are...
  • #383,428
  • Feb 9, 2011 7:16pm Feb 9, 2011 7:16pm
Quoting attila
you are absolutely right. however the account size has nothing to do with it. you can go in with a 100K account and trade half a lot and still lose. everything has to do with your pain tolerance at loses. is 500 bux a lot for you to see in a SL get hit or a regular draw down? maybe it is... for other people that's just the spread they pay. so my advise is find a trade size you are comfortable with and play 20% of that. then the money component will disappear and you will be able to focus on your trading instead. then as you get confident increase...
I think most here are on the same page, theoretically speaking anyway...
  • #383,429
  • Feb 9, 2011 7:17pm Feb 9, 2011 7:17pm
Quoting FibbinArchie
I think most here are on the same page, theoretically speaking anyway...
Yup. It's even easier to preach then to perform...
  • #383,430
  • Feb 9, 2011 7:18pm Feb 9, 2011 7:18pm
Quoting aarontdang
Why AUD/USD going down????
AUD data was positive????

has been bearish since its decline from 1.02... first target for me here is 1.0060.. then leave 1/2 on table at BE and let it ride to parity
  • #383,431
  • Feb 9, 2011 7:18pm Feb 9, 2011 7:18pm
maybe... i don't know about other people. i used to think the same at first and of course i lost money. my trading turned around when i started doing that.
Quoting FibbinArchie
I think most here are on the same page, theoretically speaking anyway...
  • #383,432
  • Feb 9, 2011 7:19pm Feb 9, 2011 7:19pm
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  • #383,433
  • Feb 9, 2011 7:20pm Feb 9, 2011 7:20pm
Quoting attila
maybe... i don't know about other people. i used to think the same at first and of course i lost money. my trading turned around when i started doing that.
Maybe it's one of those things that can only be learned the hard way, even then it may need two or more hard lessons to actually sink in and stick...
  • #383,434
  • Feb 9, 2011 7:23pm Feb 9, 2011 7:23pm
Quoting attila
maybe... i don't know about other people. i used to think the same at first and of course i lost money. my trading turned around when i started doing that.
Removing the need to make money, and introducing the thought process stating that I am prepared to loose x amount as soon as I make this trade has helped me immensely.
  • #383,435
  • Feb 9, 2011 7:24pm Feb 9, 2011 7:24pm
Quoting jaylovin
has been bearish since its decline from 1.02... first target for me here is 1.0060.. then leave 1/2 on table at BE and let it ride to parity

I went Long @ 1.00886...I noticed that the
support level r very strong @ 1.0080/90
It try to break down 2 times yesterday.. but couldn't
sometime data just take times to absorbed.

been watching AUD/XXX, when it spike down...
it tend to climb back up to where it original spike down...

SL 1.0070
  • #383,436
  • Feb 9, 2011 7:25pm Feb 9, 2011 7:25pm
Quoting FibbinArchie
Maybe it's one of those things that can only be learned the hard way, even then it may need two or more hard lessons to actually sink in and stick...
I agree. I feel like all of us as traders go through that. It's a right of passage that we all must suffer from, unless you are one of the lucky ones that gets a solid mentor and drills those ideas into your head before you even touch a trading platform.

I've only nuked 2 accounts so far. haha. There is a light at the end of a tunnel though...
  • #383,437
  • Feb 9, 2011 7:26pm Feb 9, 2011 7:26pm
it is correct. now not only am I pretty comfortable with money part of things but in this process i also increased, little by little, the number of trades i have running at one time. my average number of trades running simultaneously now is around 10-15.

Quoting Venice
Removing the need to make money, and introducing the thought process stating that I am prepared to loose x amount as soon as I make this trade has helped me immensely.
  • #383,438
  • Feb 9, 2011 7:32pm Feb 9, 2011 7:32pm
Quoting aarontdang
I went Long @ 1.00886...I noticed that the
support level r very strong @ 1.0080/90
It try to break down 2 times yesterday.. but couldn't
sometime data just take times to absorbed.

been watching AUD/XXX, when it spike down...
it tend to climb back up to where it original spike down...

SL 1.0070

yup maybe an inverted H&S in the making on it.. but my short is up at 1.0185 so i have a little bit to go yet.... already set SL +20.. but i am expecting the us dollar to get stronger - so only looking for shorting opportunities... and i hope to see a spike on EU tomorrow or friday to get in... if it gets hit - i'll re enter



still holding long term short at 1.3615...
  • #383,439
  • Feb 9, 2011 7:37pm Feb 9, 2011 7:37pm
Quoting jaylovin
yup maybe an inverted H&S in the making on it.. but my short is up at 1.0185 so i have a little bit to go yet.... already set SL +20.. but i am expecting the us dollar to get stronger - so only looking for shorting opportunities... and i hope to see a spike on EU tomorrow or friday to get in... if it gets hit - i'll re enter



still holding long term short at 1.3615...
$ won't get stronger ... watch out the news for
most of the state run on Deficit....soon or later
they will bankrupt themselves...Plus state don't get grants from
Federal much .... SSN, Medicare problems...
I think every states in the US run on budget shortfall (Big amount)....
  • #383,440
  • Feb 9, 2011 7:38pm Feb 9, 2011 7:38pm
Quoting Venice
I agree. I feel like all of us as traders go through that. It's a right of passage that we all must suffer from, unless you are one of the lucky ones that gets a solid mentor and drills those ideas into your head before you even touch a trading platform.

I've only nuked 2 accounts so far. haha. There is a light at the end of a tunnel though...
yeah, attitude to risk management, by far one of the more important pieces of the puzzle...
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