- #29,648
- May 5, 2011 8:31am May 5, 2011 8:31am
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Average price at 1.0617? It's amazing how you can sit through a whopping 400 pips drawdown.
Out of curiosity, what lot size are you trading and what is your leverage? The interest payment must be painful during the rally to 1.1.
Not even close Skip...
When I joined in this convo, we were just bouncing off the daily 200, and this is where Ely took his rant to a whole new level....for almost 2 months Ely has been holding dogshit drawdowns from the red area on the chart, and averaged his losses up to his positions in the 1.0617...So, on a trading dimes level, at minimum, he has seen a DD on his mico account of I would speculate over $500, some positions seeing over 1000 pips underwater...to come back before he even prospers with his, I told you so message...
Not only is this quite the horrendous Draw Down, but how much extra in roll over fees? He will most likely need to see 1.05 before he can cover full losses and from there at a bounce, may never actually be green on his trade account....
Lessons learned?
1. Ely is a complete fawking idiot.
2. If he still has an account, it is in micros or ultra micros, (1 cent per pip)
3. Ely will never escape this trade level with a piss poor stratedgy.
4. BLA Bla Bla...
WTG Ely...you are the perfect example of how not to trade.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #29,649
- May 5, 2011 8:54am May 5, 2011 8:54am
- | Joined Feb 2010 | Status: Trader | 1,085 Posts
400 pip draw down?
Not even close Skip...
When I joined in this convo, we were just bouncing off the daily 200, and this is where Ely took his rant to a whole new level....for almost 2 months Ely has been holding dogshit drawdowns from the red area on the chart, and averaged his losses up to his positions in the 1.0617...So, on a trading dimes level, at minimum, he has seen a DD on his mico account of I would speculate over $500, some positions seeing over 1000 pips underwater...to come back before he even prospers with his, I told you so message......
Ho, ho, I was going to post something similar to you and then I've seen you had done the hard work for me...
Well said!
I suggest everybody reports his stupid nobular crap posts to mods (the button at the top right of the posts) till he will be banned forever.
Remember that some time ago another thread on AUDUSD even had to be created to get him off: this is getting totally ridiculous. PLEASE MODS, BAN THAT IDIOT ONCE AND FOREVER.
Use me as a contrarian indicator 
- #29,652
- May 5, 2011 10:49am May 5, 2011 10:49am
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
Definitely. The debt ceiling is going to be a huge issue going forward.
Edit: Gotta love people like Ely. I guarantee he's ignoring the cost of negative carry on this trade. I was making ~1 pip/day positive carry; the negative carry's probably ~1.5 pips/day.
Yes ifly..was paying between £1.50-£2 on the rise! But what the hell, Level 4 had it over priced by a big margin!
Anyway, i love the fact that the nobs who've been spouting nobular jock stuff are getting hammered
Like the earlier poster wrote
"I think that the concern was that paper silver/metals sold was so much greater than physical available for delivery that they have been squeezing paper longs. Beautiful in its simplicity.
That's creating an unwind across the entire commodity sector, as many silver/metal traders also have long positions in other commodities. And as a pair trade, many of those traders have been short the USD.
I don't know how much longer it will take to unwind but there's still the potential for a violent downward spiral.
Crack down in commodity speculators has begun whether its oil, silver, gold.
Recent U.S. Attorney General Eric Holder announced the formation of
Price Fraud Working Group, which is mandated to monitor oil and gas markets for potential violations.
Also the rise in silver margins by a whopping 84% in a week is evidence of how the unwinding of the commodity rally is clearly an "organised crack down of commodity speculation"
http://www.reuters.com/article/2011/...7437XU20110505
One lesson I learned very early in my career, and which has stuck to me like super glue ever since, is never fight the Fed. If you allow me to freely translate that to ‘never fight the government’, you probably get my point. If the authorities are hell bent on cracking down on commodity speculation and manipulation, it is a fight that the speculator and manipulator will ultimately lose.
http://www.creditwritedowns.com/2011...ingenuity.html"