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  • #405,661
  • Mar 13, 2011 1:59pm Mar 13, 2011 1:59pm
Quoting Martingale
this is a nice wikipedia list of these cases. good to know big guys don't always win

Some of the biggest failed trades have been averaging down losing positions. Every floor I have ever worked on adding to a loser was cause for instant dismissal and you were added to the blacklist never ever to work again in town.

Retailers keep thinking and hoping that they have reinvented the wheel, guess what they haven't and never will.
  • #405,662
  • Mar 13, 2011 2:00pm Mar 13, 2011 2:00pm
Quoting cloggie
You don't get it, it never works.

Another muppet talking to Iggy by himself. The week has barely started and have already found 6 additions.
So my experience is not real? This is what I do in an unpredictable market and I green out 80-90%. I'd rather trend but this market is just too looney tunes for what ever the reason. So while I make money, I just discovered it never works. It's always worked for me. What am I doing wrong so I can lose money too?
Taigen Profit This Month: na
  • #405,663
  • Mar 13, 2011 2:01pm Mar 13, 2011 2:01pm
Quoting cloggie
Now ask yourself how can you possibly trade a "gap" if only a few micro lot retail traders actually see a gap.
I do not trade gaps. I was going to develop a strategy to exploit this thing but thanks to you now I know it's just caused by the unavailable service from retail brokers.
  • #405,664
  • Mar 13, 2011 2:02pm Mar 13, 2011 2:02pm
Quoting Taigen
So my experience is not real? This is what I do in an unpredictable market and I green out 80-90%. I'd rather trend but this market is just too looney tunes for what ever the reason. So while I make money, I just discovered it never works. It's always worked for me. What am I doing wrong so I can lose money too?

IF you think you have found a way to average down and make it work, give Goldman a call tomorrow, you will be on 8 figures within a year and you will be one of their biggest traders, they will be happy to fund you. You will be a legend in the markets and people will write books about you, you will be able to create a legacy for your children that is unheard of.

Some of the biggest houses have been brought down by averaging down, you could go in there, turn them around and make yourself billions a year.
  • #405,665
  • Mar 13, 2011 2:03pm Mar 13, 2011 2:03pm
Quoting Martingale
this is a nice wikipedia list of these cases. good to know big guys don't always win
If they don't win, that means they are NOT big enough!
  • #405,666
  • Mar 13, 2011 2:04pm Mar 13, 2011 2:04pm
Quoting cloggie
Some of the biggest failed trades have been averaging down losing positions. Every floor I have ever worked on adding to a loser was cause for instant dismissal and you were added to the blacklist never ever to work again in town.

Retailers keep thinking and hoping that they have reinvented the wheel, guess what they haven't and never will.
did not know you worked in a floor. I guess you must have learned really high performance techniques. The only thing I got out of a floor via a friend I still use it a lot and is very simple: the price GBPUSD has at 0 GMT remains as its main daily resistance, I guess there are tons of things you learn in a floor.
  • #405,667
  • Mar 13, 2011 2:05pm Mar 13, 2011 2:05pm
Quoting Martingale
did not know you worked in a floor. I guess you must have learned really high performance techniques. The only thing I got out of a floor via a friend I still use it a lot and is very simple: the price GBPUSD has at 0 GMT remains as its main daily resistance, I guess there are tons of things you learn in a floor.

Midnight roll and NY roll are big levels to trade of each and every day.
  • #405,668
  • Mar 13, 2011 2:05pm Mar 13, 2011 2:05pm
Quoting cloggie
Harsh? You must be a really cr@p trader if you need 250 pips to figure out we are heading in the other direction.
sooner or later it will hit lower levels again....of course would be nice to see it soon...
  • #405,669
  • Mar 13, 2011 2:06pm Mar 13, 2011 2:06pm
Quoting Taigen
So my experience is not real? This is what I do in an unpredictable market and I green out 80-90%. I'd rather trend but this market is just too looney tunes for what ever the reason. So while I make money, I just discovered it never works. It's always worked for me. What am I doing wrong so I can lose money too?
Your experience is real alright and for sure for some traders it will work until the day it goes horribly wrong and that is sod's law because it will happen sooner or later. Don't let me stop you though, because for most people they only find out the hard way!
  • #405,670
  • Mar 13, 2011 2:06pm Mar 13, 2011 2:06pm
Quoting uzsiemusi
sooner or later it will hit lower levels again....of course would be nice to see it soon...

Why in the world tie up your capital nursing a losing trade, you will miss out twice.
  • #405,671
  • Mar 13, 2011 2:07pm Mar 13, 2011 2:07pm
Quoting bbakker
Your experience is real alright and for sure for some traders it will work until the day it goes horribly wrong and that is sod's law because it will happen sooner or later. Don't let me stop you though, because for most people they only find out the hard way!

IT provides entertainment, if every poster here knew how to trade this thread would be very boring indeed.
  • #405,672
  • Mar 13, 2011 2:12pm Mar 13, 2011 2:12pm
gonna be a volatile week..... don't try to be a hero.
  • #405,673
  • Mar 13, 2011 2:12pm Mar 13, 2011 2:12pm
Quoting cloggie
Why in the world tie up your capital nursing a losing trade, you will miss out twice.
He may not be nursing a loser for long. all the other dollar pairs are starting to look crap upside stalled.
rat
  • #405,674
  • Mar 13, 2011 2:12pm Mar 13, 2011 2:12pm
Quoting cloggie
IF you think you have found a way to average down and make it work, give Goldman a call tomorrow, you will be on 8 figures within a year and you will be one of their biggest traders, they will be happy to fund you. You will be a legend in the markets and people will write books about you, you will be able to creat a legacy for your children that is unheard of.

You are simply nuts. My guru even does this. Would I rather trend? Yes. But my son is doing this as well and is averaging 5% daily. So don't tell me it doesn't work. I know all kinds of people that do this all the time. It's common sense. What's the biggest spread recently? 500? More its like 100-300. If you can absorb that swing before retrace, why wouldn't you green out? What the hell are you talking about? Everyone I know who does this do well. I only deal in small percentages so I don't margin out and of course I do have a 12% (max 16%) stop loss on the ones that don't go my way. But even then the turnaround is soon.
Taigen Profit This Month: na
  • #405,675
  • Mar 13, 2011 2:15pm Mar 13, 2011 2:15pm
Just couple of things:
1. If you are using Alpari uk or other brokers that are not giving you sight of the market until 12, refer to here: http://www.xe.com/
2. If you are long on the dollar (short on eurusd), please take into consideration that there are big chances of a new dollar printing session, that is like cryptonite for the currency. Friday move was justified and big traders are pro-€ since one month ago. therefore please do not average, just let it go and start again, now that you still have the opportunity.
  • #405,676
  • Mar 13, 2011 2:18pm Mar 13, 2011 2:18pm
Quoting cloggie
Some of the biggest failed trades have been averaging down losing positions. Every floor I have ever worked on adding to a loser was cause for instant dismissal and you were added to the blacklist never ever to work again in town.

Retailers keep thinking and hoping that they have reinvented the wheel, guess what they haven't and never will.


When you are trading on the floor; you are trading intraday.. I would hope no intraday trader is averaging down a position because it may not come back in their favor till tomorrow or 4-6 months. There is no black-list to ever work again in a town.. maybe a particular employer...that is a very extreme view. no one is going to ban you from trading unless you violate serious laws. I think you need to get that big o'l head out of your big'ol ass.
  • #405,677
  • Mar 13, 2011 2:18pm Mar 13, 2011 2:18pm
Hello all,

The earthquake woke me up.

What a mess !
  • #405,678
  • Mar 13, 2011 2:20pm Mar 13, 2011 2:20pm
Quoting toshi
Hello all,

The earthquake woke me up.

What a mess !
Hi Toshi, I hope u r fine!
Are there still quakes? my brother lives in Tokyo as well..
  • #405,679
  • Mar 13, 2011 2:26pm Mar 13, 2011 2:26pm
Quoting aarontdang
This is the first time I see such a big gap
in EUR/USD in the past 5 months....


i have seen a gap open of around 210 pips when it was around 1.45 p a
finding A M S
  • #405,680
  • Mar 13, 2011 2:27pm Mar 13, 2011 2:27pm
Quoting Martingale
Hi Toshi, I hope u r fine!
Are there still quakes? my brother lives in Tokyo as well..
Hey,
Fine here hope U R too.

Actually I'm in the states, but the cries of "... Godzilla is coming !!..."
is what I think really stirred me out of my slumber.

From what I understand, keep your fingers crossed for your brother.
An aftershock (expected magnitude ~7.0) could be round the corner
within the next couple days.

This is common with quakes, the aftershocks that is, so Like Jay used to say,
"...Hold on to your f*ing hat !!", it's not over yet.
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