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  • #536,681
  • Sep 9, 2011 11:52am Sep 9, 2011 11:52am
Quoting bumapatria
Hey cloggie, i know you're one of the 'big men' here in FF, and i guess i need to open up my ears and listen. I'm sure you've had much more trading experience than me, so thanks for the criticism and advise, even though it was quite harsh. Thank you.

Harsh? You ain't seen nothing yet.


Just ask yourself, why do you hedge? Why don't you instead focus on either getting your entries right or the direction right instead. Hedging as an easy way out just means that you will not work on the entries/trend. Maybe you "hedge" because you are too scared to close a loser, or are convinced that price will come back to your entry.

Find the reason for your "hedging" and eliminate that, that is trading.

Think about this over the weekend.
  • #536,682
  • Sep 9, 2011 11:54am Sep 9, 2011 11:54am
Quoting egkid
Have we reach there yet , Will tell when I DO
http://www.youtube.com/watch?v=go9uekKOcKM
Enjoy the Link above
I like it so much
  • #536,683
  • Sep 9, 2011 11:54am Sep 9, 2011 11:54am
Quoting cloggie
Harsh? You ain't seen nothing yet.


Just ask yourself, why do you hedge? Why don't you instead focus on either getting your entries right or the direction right instead. Hedging as an easy way out just means that you will not work on the entries/trend.

Think about this over the weekend.
////double facepalm...fingers slightly spread apart...
  • #536,684
  • Edited 12:32pm Sep 9, 2011 11:54am | Edited 12:32pm
Quote, cloggie:

---------------------
Noobies don't seem to see hedging for what it really is. The few that can be honest with themselves will have started thinking about what I am saying already.
---------------------

What cloggie is saying misses the point. The first rule for a real trader, experienced or not, is: DON'T LOSE THE MONEY!!!!

It's a moot issue (since synthetic hedges are not very useful), but most traders blow their accounts early in their trading. Hedging might allow some of them to avoid that.

Going into a hedged position is not a trading strategy (which is the only way that cloggie is willing to view it), it's a save you sorry account balance strategy.

There were hundreds of CFTC stooges (my sincere belief) who flooded the forums around the time the rule was being discussed and decided, and they ALL, without a single exception came up with the most pathetic reasons to use hedging as a strategy. Hedging is simply not a trading strategy.

But Hedging threatens.... the shootin-fish-in-a-barrel setups for large players who take newcomers money.

That's the reality.
  • #536,685
  • Sep 9, 2011 11:54am Sep 9, 2011 11:54am
Quoting Motion
Can you please stop trying longs...just close your charts and go and enjoy the friday.

BTW micho, closed all my shorts already. Market just crossed 309 in points for the daily range which is way more than double the 10 day ATR. Gotta go back to programming.

Enjoy your weekend everyone.
thanks dude you too!!

my position still open
When life gives you lemons, make lemonade
  • #536,686
  • Sep 9, 2011 11:55am Sep 9, 2011 11:55am
Euro in danger area, once it's break 3600, gonna be in 3300 and also 2860.

What a mess, how many stop loss you're gonna take ?????
Holy Betting Grail strategy
  • #536,687
  • Edited 4:11pm Sep 9, 2011 11:56am | Edited 4:11pm
The rule against Hedging, is Gary Gensler's great gift to bankers and brokers.
  • #536,688
  • Sep 9, 2011 11:58am Sep 9, 2011 11:58am
Quoting cloggie
Harsh? You ain't seen nothing yet.


Just ask yourself, why do you hedge? Why don't you instead focus on either getting your entries right or the direction right instead. Hedging as an easy way out just means that you will not work on the entries/trend. Maybe you "hedge" because you are too scared to close a loser, or are convinced that price will come back to your entry.

Find the reason for your "hedging" and eliminate that, that is trading.

Think about this over the weekend.
Thanks cloggie. I'll make sure i will.
Have I got something on my face, SOLDIER?
  • #536,689
  • Edited 8:41pm Sep 9, 2011 12:00pm | Edited 8:41pm
Quoting micho
if anybody missed the train today and wants to join, sell eurusd at around 1.3664 if we go back up there, stop loss 1.3735, target 1.3492...

i won't add to my positions now........... trade at your own risk
Thx mic, I just got 83 pips from your signal
Just a noobs trader, really need time to learn the candle more from all of you guys
  • #536,690
  • Sep 9, 2011 12:03pm Sep 9, 2011 12:03pm
Quoting cloggie
I am a big fan of the CFTC rules and posters here that know me know that I feel that they have not gone far enough.

I want to see 10:1 or less leverage and min account size of 250k-500k. That is the only way to protect muppets from themselves.

Why do 70-80% of the retailers fail? Because they have no business being in this business in the first place.

Too many idiots with 2000 dollar accounts and 200:1 leverage think they are traders.
I've noticed that you often gloat about the thought that you are profiting from 'muppets' who cannot trade. So aren't you contradicting yourself by wanting to eliminate these 'retailers' from the ability to continue failing ?

  • #536,691
  • Sep 9, 2011 12:06pm Sep 9, 2011 12:06pm
Quoting noobie
I've noticed that you often gloat about the thought that you are profiting from 'muppets' who cannot trade. So aren't you contradicting yourself by wanting to eliminate these 'retailers' from the ability to continue failing ?


No need to worry, there are 100's or even 1,000's of new noobies entering the market each and every day, posts like the ones on the last few pages will have disappeared into history by the time they find their way here.
  • #536,692
  • Sep 9, 2011 12:10pm Sep 9, 2011 12:10pm
Quoting cloggie
No need to worry, there are 100's or even 1,000's of new noobies entering the market each and every day, posts like the ones on the last few pages will have disappeared into history by the time they find their way here.
Not worried, just confused about your sentiments as you seem to have opinions
which are self-defeating.
  • #536,693
  • Sep 9, 2011 12:11pm Sep 9, 2011 12:11pm
3643. Tp 4396
looking for investors . pm me
  • #536,694
  • Edited 12:28pm Sep 9, 2011 12:15pm | Edited 12:28pm
bumapatria,

Again, I don't think there is any good reason to hedge as part of your trading strategy (assuming you had the option). And if it is, I would give you the same advice cloggie gives.

But Hedging, if you could do it, would be very useful as a disaster prevention measure. Thanks to the CFTC, you can't.

If hedging were permitted, many noobi's who tried to fade today's move in EJ and EU, might still have an intact account if they could have stepped out of the rain temporarily (assuming you didn't use a stop, or canceled it - very bad), and returned when the retrace finally came, as it did a short time ago.

Instead, their money is in cloggie's pocket... and others.
  • #536,695
  • Sep 9, 2011 12:15pm Sep 9, 2011 12:15pm
pre-weekend liquidation? ^_^
  • #536,696
  • Sep 9, 2011 12:22pm Sep 9, 2011 12:22pm
Quoting kai97
Thx mic, I just got 63 pips from your signal
Just a noobs trader, really need time to learn the candle more from all of you guys
cool
When life gives you lemons, make lemonade
  • #536,697
  • Sep 9, 2011 12:22pm Sep 9, 2011 12:22pm
Quoting cloggie
I am a big fan of the CFTC rules and posters here that know me know that I feel that they have not gone far enough.

I want to see 10:1 or less leverage and min account size of 250k-500k. That is the only way to protect muppets from themselves.

Why do 70-80% of the retailers fail? Because they have no business being in this business in the first place.

Too many idiots with 2000 dollar accounts and 200:1 leverage think they are traders.
Those !diots make you and i richer so no need to bother. I welcome them with open hands. Just don't like too much of their spam in FF.
  • #536,698
  • Sep 9, 2011 12:27pm Sep 9, 2011 12:27pm
Quoting cloggie
Harsh? You ain't seen nothing yet.


Just ask yourself, why do you hedge? Why don't you instead focus on either getting your entries right or the direction right instead. Hedging as an easy way out just means that you will not work on the entries/trend. Maybe you "hedge" because you are too scared to close a loser, or are convinced that price will come back to your entry.

Find the reason for your "hedging" and eliminate that, that is trading.

Think about this over the weekend.
Yes - net result when your down by N pips:
1. You close now and loose N pips worth right now.
2. You hedge, this means you loose N pips + spread pips + unable to benefit from a move the right direction as now your trades are cancelling each other, so your in a worse position that being out of the market entirely.
3. (Variation of 2) using a partial hedge to fend off a margin call while your release margin from the wrong direction trades - lets face it you're doomed anyway - may as well just get it over with and save any more stress
  • #536,699
  • Sep 9, 2011 12:30pm Sep 9, 2011 12:30pm
This Currency Wars looks like World War II, It's end when an atomic bomb blast J*p*n, and the Great Leader surrender. So again, USA WINS again.

Oh, what a story !!!
Holy Betting Grail strategy
  • #536,700
  • Sep 9, 2011 12:32pm Sep 9, 2011 12:32pm
Quoting noobie
Not worried, just confused about your sentiments as you seem to have opinions
which are self-defeating.
Your observations on Cloogie are actually quite astute. On a personal level I have to say I had him pegged the minute I read the posting rules for that Really Useless Thread. Remember back in high school how there was always a group of jocks that thought they were better than everybody else? Do you also remember how it never dawned on them that the arrogance in their attitudes made everyone else better than them?
Well, he may have gone on to be a hugely successful trader as many of those "type A" personalities often do. But, his attitude hasn't changed. He's still spewing that adolescent garbage and macho bullshit, as if somehow it makes him better or stronger. And, he still doesn't have a clue about how it puts his fear and insecurity on display for everyone to see.
And, that Really Useless Thread? It's a glorified high school "clique" of "cool" kids who don't want to be bothered with the thoughts and opinions of us "nerds". Why do you think it requires 10 vouchers to post a message? But, he would do well to remember the advice of Bill Gates. "Be nice to nerds - someday you'll end up working for one."
I will say this much in his favor. If you can get past the personality and just think of him like a stern boss or a drill instructor, he's got plenty of experience in this field. And, what little knowledge I've gleaned on the subject tells me that his trading advice is sound.
"The only way to win the game is not to play." - B. S. Miller
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