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High velocity trading

  • #561
  • Sep 27, 2011 12:44pm Sep 27, 2011 12:44pm
Also I heard a very exciting story about the businessman from Canada, who is in the business of extracting diamonds, he's running some major mining operations in Canada. He used some kind of coordinates, derived from Russian diamond mines, then projected it to the coordinates based in Canada and came about what is now the largest diamond mine in Canada. That's a true success story.
  • #562
  • Sep 27, 2011 12:48pm Sep 27, 2011 12:48pm
That's Robert Gennikot. Here's his profile. http://people.forbes.com/profile/rob...annicott/39511

Nice compensation in 2011. Although I doubt he actually needs it with his stash.
  • #563
  • Sep 27, 2011 12:49pm Sep 27, 2011 12:49pm
Quoting ruffryders
That's Robert Gennikot. Here's his profile. http://people.forbes.com/profile/rob...annicott/39511

Nice compensation in 2011. Although I doubt he actually needs it with his stash.
I live in Canada and never heard about his story! Ill read about it for sure! Thanks for the link.
  • #564
  • Sep 27, 2011 12:51pm Sep 27, 2011 12:51pm
http://www.heatingoil.com/wp-content...oshap-5881.jpg

Gotta love those trucks, hauling the sands. Look pretty average sized, but up close these are the real monsters. Probably over 10 meters high!

Just think what's gonna happen if you saw one of these in rear view mirror in your car. That's a guaranteed heart attack right there!
  • #565
  • Sep 27, 2011 12:54pm Sep 27, 2011 12:54pm
Quoting ruffryders

Gotta love those trucks, hauling the sands. Look pretty average sized, but up close these are the real monsters. Probably over 10 meters high!

Just think what's gonna happen if you saw one of these in rear view mirror in your car. That's a guaranteed heart attack right there!
You dont want to meet one of those truck on the road! lol
http://www.digitalhome.ca/forum/pict...pictureid=2286
  • #566
  • Sep 27, 2011 12:55pm Sep 27, 2011 12:55pm
from germany,
how many years you trade forex?
Quoting BlackTexto
From Canada, Montreal

Where you guys from ?
  • #567
  • Sep 27, 2011 12:56pm Sep 27, 2011 12:56pm
Gold seem it will reach 1640.

You think it can go below that (in your previous prediction you said it wont go a lot below 1640) You still have the same prediction ?
  • #568
  • Sep 27, 2011 12:56pm Sep 27, 2011 12:56pm
Quoting BlackTexto
You dont want to meet one of those truck on the road! lol
http://www.digitalhome.ca/forum/pict...pictureid=2286
shite ... looks like this fella is not gonna go anywhere in a hurry!
  • #569
  • Sep 27, 2011 12:58pm Sep 27, 2011 12:58pm
Quoting BlackTexto
Gold seem it will reach 1640.

You think it can go below that (in your previous prediction you said it wont go a lot below 1640) You still have the same prediction ?
yeah 1640 probably will hold, if not 1620 will be up next. Either way from these levels we should do a retest of 1700.
  • #570
  • Sep 27, 2011 12:58pm Sep 27, 2011 12:58pm
Quoting stevebalmmer
from germany,
how many years you trade forex?
I practice on demo for at least 1 year (couple of hours per month) and 1 year (several hours per week) And im trading real money since this year.

Im still learning everyday...but the forex is not a place where you want to learn from your mistake because....its exepensive!

What about you ?
  • #571
  • Sep 27, 2011 1:01pm Sep 27, 2011 1:01pm
montreal canadiens, we have a lot of german guys in the nhl,and little in the khl.And next year, i want to go to the world championchips of eishockey in sweden.

Quoting BlackTexto
From Canada, Montreal

Where you guys from ?
  • #572
  • Sep 27, 2011 1:02pm Sep 27, 2011 1:02pm
Mistakes are expensive for sure. But most losses come from inappropriate trade management. What I found works best is using a very tight SL. risk 10 to get 100. You get stopped out maybe 2-3 times, but most times you get free trades. Free trades are the foundation of a profitable strategy. You can only get free trades with proper entries. However I can't stress enough using very tight stops. Some might argue this, but my experience shows that SL over 15-20 pips is unreasonable and risky in the long-run.
  • #573
  • Sep 27, 2011 1:03pm Sep 27, 2011 1:03pm
Also for purposes of trading EU/GU/AU and GOLD I would recommend to stick around for London trading session only. This provides most volatility.
  • #574
  • Sep 27, 2011 1:06pm Sep 27, 2011 1:06pm
after the london time, is not so volatility at the ny time.
Quoting ruffryders
Also for purposes of trading EU/GU/AU and GOLD I would recommend to stick around for London trading session only. This provides most volatility.
  • #575
  • Sep 27, 2011 1:09pm Sep 27, 2011 1:09pm
Generally we are trading breakouts and reversals. Breakouts most frequently happen during London session. Reversals though can happen during NY session. Gotta keep this in mind.

This means that I try to never trade breakouts during NY - most times they end up being fake.
  • #576
  • Sep 27, 2011 1:14pm Sep 27, 2011 1:14pm
you are on myfxbook?
  • #577
  • Sep 27, 2011 1:21pm Sep 27, 2011 1:21pm
Quoting stevebalmmer
you are on myfxbook?
Nah not really, I've setup a demo to test it out. I can't link it up with my trading platform (Dukasopy).

I might actually do the M FX book, but I won't be able to show my actual entries.

Also at this stage I don't see the point to do My FX Book. I'd rather share charts ---> so that you guys actually get to learn the methods I use. Doing MY FX Book is only good for myself, to keep statistics on my live account. However I can't do this, since my account is not based on MT4 technology!
  • #578
  • Sep 27, 2011 1:33pm Sep 27, 2011 1:33pm
RR,

When you take trade...how you manage your stress ?? As a newbie, all trades i do are stressfull and i have to control myself not to PANICK trading!

I guess more confident i will be less stress i will have...
  • #579
  • Sep 27, 2011 1:34pm Sep 27, 2011 1:34pm
i look at first what brent chart is going,and then the silver,and gold is most following?
  • #580
  • Sep 27, 2011 1:43pm Sep 27, 2011 1:43pm
Quoting BlackTexto
RR,

When you take trade...how you manage your stress ?? As a newbie, all trades i do are stressfull and i have to control myself not to PANICK trading!

I guess more confident i will be less stress i will have...
When I got big trades going on, the only solution is sleep meds / some alcohol. There is no solution. When you go 30-40% of the equity in the trade, stress can not be controlled really. Moving SL to BE will reduce stress. If you chose a proper entry this will reduce stress.

The real recipe however is proper risk management. Going in the trade with only littly equity. Increasing risk only slowly, once you start making progress.

Looking back at my trading, some weeks I had trading volumes in excess of 500 mln USD (no kidding). This contributed to high commissions and serious account fluctuations. Since then I decided to reduce my exposure and only go all-in (up to 60% exposure) only if I'm 101% confident.

So yeah pretty much risk less and you will worry less. Reason being that one-two trades at a loss won't kill your account.
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