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  • #501,241
  • Jul 27, 2011 10:58am Jul 27, 2011 10:58am
Quoting Venice
That is the average as well, you can bet your ass some are -500 or beyond.

I don't understand it really, I don't. Even trading the daily, it's usually a WTF moment and that causes me maybe worse case scenario a 100 pip draw down, and it certainly isn't going to go much beyond that.
people are friggin nuts... even when i was learning to trade I still used at least some form of MM... it may of sucked but damn if i ever let myself get down 500 pips...
  • #501,242
  • Jul 27, 2011 10:59am Jul 27, 2011 10:59am
Quoting Venice
http://www.myfxbook.com/community/outlook

My favorite, E/C....

Average long price from current price... -698 pips


/facepalm.
oh itll come around... whats the problem??
  • #501,243
  • Jul 27, 2011 11:01am Jul 27, 2011 11:01am
lol... Aussie still holding in there. Talk about a set it and forget it play...
  • #501,244
  • Jul 27, 2011 11:02am Jul 27, 2011 11:02am
Quoting PayTheLimit
.
1.1088
Attached Image (click to enlarge)
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The Thief of Wall Street
  • #501,245
  • Jul 27, 2011 11:02am Jul 27, 2011 11:02am
Quoting bguguen
buddy if you got the fundies right, you might as well NOT put a SL, i nearly never use a stop loss and guess what im still profiting... money management is KEY when you're playing forex... ESPECIALLY if you dont use SL like me... but yea at this incident i saw exhaustion to break above 1.45 today and decided to short it 1.4490 worked out beautifully and aimed for Psych levels since thats where big boys like to hunt for stops and other orders...

Now i think some guys here would rather DIE than to say great call to a muppet like me, but hell i dont...
i have always been a bit too worried about news bombs to not use a SL... even one where i dont think there is a chance in hell it will hit it...

this is the forex.... anything can and does happen...
  • #501,246
  • Jul 27, 2011 11:03am Jul 27, 2011 11:03am
Quoting Chicky
1.1088ish

nice.......
Look Sharp/Trade Tight
  • #501,247
  • Jul 27, 2011 11:04am Jul 27, 2011 11:04am
Quoting Venice
That is the average as well, you can bet your ass some are -500 or beyond.

I don't understand it really, I don't. Even trading the daily, it's usually a WTF moment and that causes me maybe worse case scenario a 100 pip draw down, and it certainly isn't going to go much beyond that.
Using lower timeframes eliminates the necessity for a large stop loss. This improves ones risk/reward. There is no real reason not to use them. You can trade the hourly and up with a 5 or 10 pip stop this way.
  • #501,248
  • Jul 27, 2011 11:04am Jul 27, 2011 11:04am
lunch time
those who can, do. those who cant, talk about those who can
  • #501,249
  • Jul 27, 2011 11:05am Jul 27, 2011 11:05am
Quoting Venice
lol... Aussie still holding in there. Talk about a set it and forget it play...
them aussies are a tough bunch...


I know a couple guys who were just buying up AU like crazy when it was in the .8000's

I was one of em but closed myself out in the high 90's cause there was not way I was gonna believe we would ever get much past parity....
  • #501,250
  • Jul 27, 2011 11:05am Jul 27, 2011 11:05am
Quoting Wulfgar
i have always been a bit too worried about news bombs to not use a SL... even one where i dont think there is a chance in hell it will hit it...

this is the forex.... anything can and does happen...
I don't use stops either. Except when I am locking in profit. Generally happens after target #1 has been hit and I have cleared some of my position.

I'd rather risk the extra (and very rare occurrence) that price will run 30-50 pips beyond my 'i was wrong' point then be prematurely taken out.
  • #501,251
  • Jul 27, 2011 11:05am Jul 27, 2011 11:05am
Quoting Venice
Hmm... retailer sentiment 63% short. That can't be right.

Although, average short price from current is -220 pips... lol, idiots.
Venice, where did you get that # and when its dated?

Thanks
  • #501,252
  • Jul 27, 2011 11:06am Jul 27, 2011 11:06am
Quoting Venice
I don't use stops either. Except when I am locking in profit. Generally happens after target #1 has been hit and I have cleared some of my position.

I'd rather risk the extra (and very rare occurrence) that price will run 30-50 pips beyond my 'i was wrong' point then be prematurely taken out.

ya.. for longer term traders like us i suppose they are not really necessary.. cause even a 50 pip additional loss isnt a whole lot when ur shooting for 500-1000+ pip moves...
  • #501,253
  • Jul 27, 2011 11:07am Jul 27, 2011 11:07am
Quoting bwa
Venice, where did you get that # and when its dated?

Thanks
http://www.myfxbook.com/community/outlook

It was accurate at the time of my post.

This information is gathered from a bunch of different retail MT4 users (live, valid accounts only).
  • #501,254
  • Jul 27, 2011 11:07am Jul 27, 2011 11:07am
Quoting Wulfgar
ya.. for longer term traders like us i suppose they are not really necessary.. cause even a 50 pip additional loss isnt a whole lot when ur shooting for 500-1000+ pip moves...
Yep. It's not uncommon for me to 'give up' 50 pips or so to be convinced of a new turn as well.
  • #501,255
  • Jul 27, 2011 11:08am Jul 27, 2011 11:08am
lets go...
Look Sharp/Trade Tight
  • #501,256
  • Jul 27, 2011 11:08am Jul 27, 2011 11:08am
Im amazed there are more profitable acctns than not...
  • #501,257
  • Jul 27, 2011 11:08am Jul 27, 2011 11:08am
done...
Look Sharp/Trade Tight
  • #501,258
  • Jul 27, 2011 11:09am Jul 27, 2011 11:09am
Quoting PayTheLimit
lets go...
lol... I was thinking a quick counter trender there out of a minor demand zone. Would have maybe squeeked out 5 pips.
  • #501,259
  • Jul 27, 2011 11:09am Jul 27, 2011 11:09am
stopped out of long trade. -13 pips

counter trend .. mostly losers
  • #501,260
  • Jul 27, 2011 11:10am Jul 27, 2011 11:10am
Quoting Wulfgar
Im amazed there are more profitable acctns than not...
I have a theory on that one though too. Most people who are losing, end up stop trading or disconnecting the stat tracker.

No one really likes to see stats on how bad they are doing...
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