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EURUSD

  • #391,921
  • Feb 21, 2011 11:03am Feb 21, 2011 11:03am
Quoting Dr.Geppynius
the time will come when not being able to get rid of potentially good trades with bad timing and adding to those, that they come for you. this is martingale and it is way better to dump losers early and build the initial position from the spot where you add instead of watching a trade going -ve 50, 60, 70, 80, 90... . this has similarities with the definition of insanity (no offense)
Let me tell you this Dr Geppynius, I appreciate your posts very much, you are one of the best contributors to this website, I really mean it.

But there was a time about 2 years ago that I bought GY for 140, it went all the way down to 118.60 or so and I bought more along the way but yet I came out as a winner when I sold for 160 a few months later.
The only secret is healthy money management and finally you will always win.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #391,922
  • Feb 21, 2011 11:05am Feb 21, 2011 11:05am
well its a slow day, so I guess, its possible to hear just about anything on this thread today...
Look Sharp/Trade Tight
  • #391,923
  • Feb 21, 2011 11:05am Feb 21, 2011 11:05am
lol...trading aside...its so funny postings these days...
Money is made by sitting, not trading. Jesse L. Livermore
  • #391,924
  • Feb 21, 2011 11:06am Feb 21, 2011 11:06am
That's one of my favorite books. However, I just use it for entertainment mostly.
Quoting Chicky
"Riminiscences of a Stock Operator" gives a method that is between Pyramiding and Martingale. Very logical and mathematically advantageous.
  • #391,925
  • Feb 21, 2011 11:06am Feb 21, 2011 11:06am
Quoting KillerWhale
Let me tell you this Dr Geppynius, I appreciate your posts very much, you are one of the best contributors to this website, I really mean it.

But there was a time about 2 years ago that I bought GY for 140, it went all the way down to 118.60 or so and I bought more along the way but yet I came out as a winner when I sold for 160 a few months later.
The only secret is healthy money management and finally you will always win.

Shamu
lol one gotta love holidays...and you call that example of a healthy money management. May I ask what is an unhealthy MM?

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #391,926
  • Feb 21, 2011 11:06am Feb 21, 2011 11:06am
in terms of the gj trade you must have started really small initially, if you have added many times..?

mm always is the difference between those who make and those who don't. fully agree.

Quoting KillerWhale
Let me tell you this Dr Geppynius, I appreciate your posts very much, you are one of the best contributors to this website, I really mean it.

But there was a time about 2 years ago that I bought GY for 140, it went all the way down to 118.60 or so and I bought more along the way but yet I came out as a winner when I sold for 160 a few months later.
The only secret is healthy money management and finally you will always win.

Shamu
  • #391,927
  • Feb 21, 2011 11:07am Feb 21, 2011 11:07am
Quoting KillerWhale
Let me tell you this Dr Geppynius, I appreciate your posts very much, you are one of the best contributors to this website, I really mean it.

But there was a time about 2 years ago that I bought GY for 140, it went all the way down to 118.60 or so and I bought more along the way but yet I came out as a winner when I sold for 160 a few months later.
The only secret is healthy money management and finally you will always win.

Shamu


A trade like that, means "No money Management"...

You fed that pig the whole way down, held threw a bigger dd from you initial order then took profit to topside...

That isn't trading my friend...that's currency investment.

Tossing Coins sounds like it might have been a better strategy...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #391,928
  • Feb 21, 2011 11:10am Feb 21, 2011 11:10am
Quoting sam69
lol...trading aside...its so funny postings these days...
This is EURUSD thread, the most democratic thread on this forum.

All those countries you recently heard and saw on media learned from us how to do it.
The Thief of Wall Street
  • #391,929
  • Feb 21, 2011 11:11am Feb 21, 2011 11:11am
Quoting KillerWhale
Let me tell you this Dr Geppynius, I appreciate your posts very much, you are one of the best contributors to this website, I really mean it.

But there was a time about 2 years ago that I bought GY for 140, it went all the way down to 118.60 or so and I bought more along the way but yet I came out as a winner when I sold for 160 a few months later.
The only secret is healthy money management and finally you will always win.

Shamu
How can it be healthy money management when you keep adding to a losing position? Unless you are 100% sure market is going to reverse and there's no such thing as 100% sure imo.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #391,930
  • Feb 21, 2011 11:11am Feb 21, 2011 11:11am
Quoting Magix

You fed that pig the whole way down..

Look Sharp/Trade Tight
  • #391,931
  • Feb 21, 2011 11:12am Feb 21, 2011 11:12am
Quoting Dr.Geppynius
in terms of the gj trade you must have started really small initially, if you have added many times..?

mm always is the difference between those who make and those who don't. fully agree.
Yes of course I always start small. My initial buy EU 1.37 can easily take 2000 pips down and I won't be hurt, and I still can buy more.
Down the road I go a bit heavier so my BE comes closer.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #391,932
  • Feb 21, 2011 11:12am Feb 21, 2011 11:12am
it seems they also learned MM from here

Quoting Chicky
This is EURUSD thread, the most democratic thread on this forum.

All those countries you recently heard and saw on media learned from us how to do it.
  • #391,933
  • Feb 21, 2011 11:13am Feb 21, 2011 11:13am
I disagree on "currency investment" Magix lol. Any trader will be fired on the spot on a trade like that (it will not even possible in an institution given minimum risk exposure if it is not for hedging)

sisse
Quoting Magix


A trade like that, means "No money Management"...

You fed that pig the whole way down, held threw a bigger dd from you initial order then took profit to topside...

That isn't trading my friend...that's currency investment.

Tossing Coins sounds like it might have been a better strategy...
Pending conversations? PM for a chat...I am mainly in OTM now
  • #391,934
  • Feb 21, 2011 11:15am Feb 21, 2011 11:15am
what about kerviel or leeson...it can work...you do not get fired if you run away before

Quoting sisse
I disagree on "currency investment" Magix lolk. Any trader will be fired on the spot on a trade like that (it will not even possible in an institution given minimum risk exposure if it is not for hedging)

sisse
  • #391,935
  • Feb 21, 2011 11:16am Feb 21, 2011 11:16am
Quoting vox dei
How can it be healthy money management when you keep adding to a losing position? Unless you are 100% sure market is going to reverse and there's no such thing as 100% sure imo.
sure there is im 100% sure that the sky is blue im 100% sure the earth is round and im 100% sure im right
Ambition
  • #391,936
  • Feb 21, 2011 11:16am Feb 21, 2011 11:16am
Quoting Dr.Geppynius
what about kerviel or leeson...it can work...you do not get fired if you run away before
lol

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #391,937
  • Feb 21, 2011 11:18am Feb 21, 2011 11:18am
Quoting sisse
I disagree on "currency investment" Magix lol. Any trader will be fired on the spot on a trade like that (it will not even possible in an institution given minimum risk exposure if it is not for hedging)

sisse

I have been saying that over and over again for as long as I have been here, retailers just don't get it and never will, they all think they are smarter then the pros.

Scaling into a loser is the biggest no-no on any floor, not only will you get fired, you will get blacklisted and never work in the City again. Guess they all end up here under various usernames.

Here is a post from a few weeks ago:

Retailers love to spout rubbish here how adding to losing positions will eventually turn around.

The big ones to research why it never works are LTCM (a couple of billion that almost brought Wall ST down. Barings (brought the bank down) Sumitomo (2 Bn or so) Rusnak (he added to his losses for years and got found out at 800Mln in the hole) Bawag (8 years of adding to losses in FX actually, blown up at 1.5Bn) and then my alltime favorite, Hubler over at Morgan (9 Bn by the time it blew up by adding to losing CDS's)

There will always be plenty that ignore history and think they are smarter then the 1,000's before them that failed in this. What makes the average retail muppet here think they are smarter then some of the best traders out there?

http://www.forexfactory.com/showpost...stcount=385369

Not only does adding to losers runs the risk of eventually having no funds left to do as 1,000's have proven, it also ties up your capital that could be used to enter winning trades.
  • #391,938
  • Feb 21, 2011 11:19am Feb 21, 2011 11:19am
Quoting Magix


A trade like that, means "No money Management"...

Tossing Coins sounds like it might have been a better strategy...
Why Magix, I won, is that not what we are trading for?
Tossing coins? I'm not lucky, I would have lost.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #391,939
  • Feb 21, 2011 11:19am Feb 21, 2011 11:19am
Quoting vox dei
How can it be healthy money management when you keep adding to a losing position? Unless you are 100% sure market is going to reverse and there's no such thing as 100% sure imo.
thats like saying theres no 10% or 99% or 78.6% or 300%
Ambition
  • #391,940
  • Feb 21, 2011 11:20am Feb 21, 2011 11:20am
Quoting sisse
I disagree on "currency investment" Magix lolk. Any trader will be fired on the spot on a trade like that (it will not even possible in an institution given minimum risk exposure if it is not for hedging)

sisse
Well, call it bagholding if ya will...

Terms we used trading stocks...you keep adding as price is moving against you, you are not a trader, you are an investor.

And yeah, I can't think of any institution that would encourage it, nor any broker backing it, but there in lies the differences from what is done and what should be done.

I have recently read through a thread that has been moved to commercial, started by a member with multiple usernames who has recently been banned, where he states that a 750 pip draw is acceptable, but to make sure that you are always trading in the trend.

Recognizing bad behavior is pretty easy, about as easy as it is to spot the dime traders by their stupidity....

I support traders of all sizes, and train others even if they are only on demo accounts...the hardest part is always getting them to understand what acceptable loss and realistic targets look like.

Under a basic comprehension that holding thousands into the stink will never allow them to move past the levels of dimes and demos.

But hey, the world and market are made up of many types....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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