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  • #384,241
  • Feb 10, 2011 6:13pm Feb 10, 2011 6:13pm
Quoting Magix
The more ops for reloads the better...
sure how u feel bro

200 on 1 should hold for now but as u said more liras up there
  • #384,242
  • Feb 10, 2011 6:16pm Feb 10, 2011 6:16pm
hello all, forget fibo 50? need cross 1.3639 for next down....
let see market reach it...
  • #384,243
  • Feb 10, 2011 6:17pm Feb 10, 2011 6:17pm
Quoting kill56
sure how u feel bro

200 on 1 should hold for now but as u said more liras up there
I got the current stop line as weekly open here killer..

Not Friday Close, broker open Monday...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #384,244
  • Feb 10, 2011 6:18pm Feb 10, 2011 6:18pm
3580 is normal atr.. in 3 hrs . atr resets. to 120 pips.. straight down from 3580 is 3460..3480 is daily s2. weekly s1 is 3462. monthly pp 3441... the odds are most movement south will be down after that time. (3h)
those who can, do. those who cant, talk about those who can
  • #384,245
  • Feb 10, 2011 6:33pm Feb 10, 2011 6:33pm
Daily Chart Trend

Look for reasons to sell eurusd

Trade Safe, avoid Cloggie and trade safer. [just joking]
  • #384,246
  • Feb 10, 2011 6:39pm Feb 10, 2011 6:39pm
Quoting Magix
I got the current stop line as weekly open here killer..

Not Friday Close, broker open Monday...
aha, this changes my thought process, just checked 1 hour, 4 hour and daily; some support here.

So, its a trade cautiously day then
  • #384,247
  • Feb 10, 2011 6:42pm Feb 10, 2011 6:42pm
Quoting PunjabiSher
aha, this changes my thought process, just checked 1 hour, 4 hour and daily; some support here.

So, its a trade cautiously day then
Just an observation, but I think we all know what happens if this pin goes negative on the weekly right?

Everyday is a trade cautiously day...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #384,248
  • Feb 10, 2011 6:48pm Feb 10, 2011 6:48pm
UC: h4 resistantline

http://www.forexfactory.com/showthre...=1#post4389610

http://www.forexfactory.com/attachme...7&d=1297392479
  • #384,249
  • Feb 10, 2011 6:55pm Feb 10, 2011 6:55pm
Quoting Magix


You're serious right?

I am supposed to be impressed with this as a trade?...
You posted some nice charts but I don't see live trades? How about an equity curve like the one attached? Truth is sport you won't do it. Why? Because anyone can post "I took this" or "I'm up 350 PIPS" blah horseshit. BUT, when someone calls you out you back down because trading over time with tons of trades is tough. A week or two, even a month or two... any turd cutter can do that. But month after month with ever trade being documented and every loss seen by all... it's what separates traders from the herd. Step up sheep boy.
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  • #384,250
  • Feb 10, 2011 6:58pm Feb 10, 2011 6:58pm
Quoting AllyB
Darn I missed this one Magix ... he/she has been on my iggie list for some time now. Now I remember why
It's good to know.
  • #384,251
  • Feb 10, 2011 6:59pm Feb 10, 2011 6:59pm
Quoting johnnyarnold
You posted some nice charts but I don't see live trades? How about an equity curve like the one attached? Truth is sport you won't do it. Why? Because anyone can post "I took this" or "I'm up 350 PIPS" blah horseshit. BUT, when someone calls you out you back down because trading over time with tons of trades is tough. A week or two, even a month or two... any turd cutter can do that. But month after month with ever trade being documented and every loss seen by all... it's what separates traders from the herd. Step up sheep boy.
now, this should be good
  • #384,252
  • Feb 10, 2011 7:01pm Feb 10, 2011 7:01pm
Quoting johnnyarnold
You posted some nice charts but I don't see live trades? How about an equity curve like the one attached? Truth is sport you won't do it. Why? Because anyone can post "I took this" or "I'm up 350 PIPS" blah horseshit. BUT, when someone calls you out you back down because trading over time with tons of trades is tough. A week or two, even a month or two... any turd cutter can do that. But month after month with ever trade being documented and every loss seen by all... it's what separates traders from the herd. Step up sheep boy.
Wait, this proooves what?

That you know how to post in the interwebs?

You get a merit badge from your scout leader for this?

Bleet sheep, bleet...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #384,253
  • Feb 10, 2011 7:05pm Feb 10, 2011 7:05pm
I went short , 1,3585 - cause m15 bearish Hammer, 1,3589 seems to be resistance now.

Good luck to all!
  • #384,254
  • Feb 10, 2011 7:05pm Feb 10, 2011 7:05pm
Now now children.
  • #384,255
  • Feb 10, 2011 7:10pm Feb 10, 2011 7:10pm
Quoting Jack Herer
now, this should be good
Too much ego... not to mention he'd lose.
  • #384,256
  • Feb 10, 2011 7:11pm Feb 10, 2011 7:11pm
Quoting johnnyarnold
You posted some nice charts but I don't see live trades? How about an equity curve like the one attached? Truth is sport you won't do it. Why? Because anyone can post "I took this" or "I'm up 350 PIPS" blah horseshit. BUT, when someone calls you out you back down because trading over time with tons of trades is tough. A week or two, even a month or two... any turd cutter can do that. But month after month with ever trade being documented and every loss seen by all... it's what separates traders from the herd. Step up sheep boy.

Pardon me for butting in, but I'm not really seeing the point of this.

Why does everything in life, from cooking, to trading turn into a dick swinging contest for some?

I lurked here for a very long time before I decided to ante up and post something.

Sh!t like this gives me great cause to shift back into lurk mode, or just bail this place altogether.

Not like I'm a valued member here, but it gets tiresome to see chumps like you decide someone else can't trade.

If you spent half the time you spent bagging on Magix over the last few days, you could have doubled that mediocre set of results into something you could be proud of.
No way I'll wreck this... It's a beer truck!
  • #384,257
  • Feb 10, 2011 7:15pm Feb 10, 2011 7:15pm
Quoting ts63
How nice, had 190 pips drawdown 2 days ago on my 6 lots short, now out at BE+10. I'm not proud, but feeling lucky
However, Im not trying to be a dick but interesting and important shit is comming out here now, 95% is normally crap...

ATTENTION ROOKIES
Its not hard to understand the mathematics but it is extremely important before you start trading that you understand certain aspects.

The spread:
Since you are buying & selling its twice as much gone in the spread...

So with a 10 pip TP level and a 1 pip spread = 70% winners are needed with a 1:1 risk reward system to go break even...

52% winners is needed with a 100 pip TP to get to break even...

I reckon most traders in here has around 20-30 as a TP level...
that would give us:
20 pips as TP level and you would need a 60% system to BE
30 pips as TP level and you would need a 56 % system to BE
50 pips as TP level and you would need a 54% system to BE
70 pips as TP level and you would need a 53% system to BE
500 pips as TP level and you would need a 50.4% system to BE

This is the real reason why you should trade long term, not that its easier for you...

Chances of winning

Stop trading and think of it, what moves the market?
People and news yea?
If you put on a trade someone needs to come after you putting trades in your direction (its like playing chess but you need to predict the next 12-14 steps to win) Yes very hard indeed. But think about it, what makes sense for you... If it makes sense for you personally its easier to stick to.. This is going to be your strategy...

My best friend only trades when there is a diaster in the stock market like 2008. He waits for a disaster to come, waits a year and buys alot. He hasnt failed yet and he makes a lot, I couldnt do it, Im not that long term so it wouldnt work... I leave it up to you to decide...

But the maths behind it is important. Most traders find Entry point really easy yea?
The problem comes to exit why? because you are predicitng 2 entry points.
example 50/50 chance gives you 0.5*0.5= 25% chance of getting a nice exit..


FX Like Poker
You are playing against people, yea? Same with poker...
I havent played alot of poker but I have read alot about it and lost my 1k online with one of the brokers... See the irony House always wins...

However knowing when to fold is extremely important, same in FX.

Ill tell a story, we were playing poker, 8 good friends around a table, one of my frinds lost everything after 37 hands were dealt and wanted to buy in again...

How did I know it was 37 hands? casue I count how many hands the opponent plays, he played 4 out of 5 hands... I Talked with him as we both got a beer from the kitchen: I told him, only play 1 out of 5 hands and I explained why... So sitting down again and guess who got in the money at the 3rd place... Yes me,
and he got 2nd!!!

Again, same with Fx You need to know when to play and play very little when you do... Set limits to loss and when you should leave...

Momentum
Only trade when the price moves and there is momentum, even if you are putting on a long term trade you should get the best entry...

Like today JPY is closed, but there can still be momentum, but do you want to stare at the paint???
  • #384,258
  • Feb 10, 2011 7:18pm Feb 10, 2011 7:18pm
Quoting Bruce Flea
Pardon me for butting in, but I'm not really seeing the point of this.

Why does everything in life, from cooking, to trading turn into a dick swinging contest for some?

I lurked here for a very long time before I decided to ante up and post something.

Sh!t like this gives me great cause to shift back into lurk mode, or just bail this place altogether.

Not like I'm a valued member here, but it gets tiresome to see chumps like you decide someone else can't trade.

If you spent half the time you spent bagging on Magix over the last few...
I'll take that into consideration. I never said he couldn't trade. Truth is... I believe he can but thats not the point. I made some very valid trading points he decided to criticize because of he's believe he's a better trader. So. Shut the fuk up and step up.

PS: That's a 700 pip trade evolution with a 3% dd.
  • #384,259
  • Feb 10, 2011 7:22pm Feb 10, 2011 7:22pm
probably a good time to book some profit as the pvp test looks imminent.
i/d bias is atm bearish. Current price is below the d1 pvp @3637 & w1 pvp @3658.

good luck
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Thank You
  • #384,260
  • Feb 10, 2011 7:23pm Feb 10, 2011 7:23pm
Quoting johnnyarnold
You posted some nice charts but I don't see live trades? How about an equity curve like the one attached? Truth is sport you won't do it. Why? Because anyone can post "I took this" or "I'm up 350 PIPS" blah horseshit. BUT, when someone calls you out you back down because trading over time with tons of trades is tough. A week or two, even a month or two... any turd cutter can do that. But month after month with ever trade being documented and every loss seen by all... it's what separates traders from the herd. Step up sheep boy.
I don't have a dog in this ring, and you can flame me, or take me to be part of the enemy, if you want, but I think I see two problems here, one of which is why Magix might have busted your chops, and another why you've come out swinging.

First, you posted a scalp taken on the up-side of a dead cat bounce after a relentless move of over six times your trade. To someone who spends a lot of time and energy in systematic analysis, and sharing that analysis in public forum, that probably didn't seem like a grand achievement.

Second, it looks like you're just now sustaining the largest drawdown period, both in amount and in duration, shown on your equity curve. I know, from experience, that those things can make one a little cranky.

So, why not lighten up, and if you have system to your scalps, share it.
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