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EurAnalysis Kindergarten 24 replies

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  • #4,021
  • Oct 20, 2011 6:26am Oct 20, 2011 6:26am
Quoting JLinder
For the news, are you guys putting an order some pips from the current price or do you wait for the news to come out and put a market order?
Since it had to be moderated I believe no one did see my question and I believe that I doesn't have to be moderated anymore.

So I ask it again
  • #4,022
  • Oct 20, 2011 6:26am Oct 20, 2011 6:26am
Quoting PipTrapper
Good plan alorente. I also have an additional account but not for the same reasons as you. When I request a withdrawal, it usually takes 3 days before they pull the funds from my account and send them to me. However, if I request a transfer to my other account, it is done overnight. So I like to transfer out my profits so that I only ever have my original capital at risk.

I don't use stop loss on my swing and position trades either. I prefer to rescue/recover but in order for that to work, I have to choose a good entry to begin with. For example,...
I like your system. Let me detail mine for those who may be interested in trying it. I learned it 20 years ago from a great stock trader friend of mine. He called it the Box System.

Letīs suppose for round numbers sake that you have allotted 100,000 to your Forex trading. That will be your Main account at your broker. The Box system requires that you only have a maximum of 1/4 of your main account invested at any one time. The other 3/4 are kept in reserve. The investable 25,000 will be split into the various positions you are trading and you will open an additional account for each position. If you have 5 positions, each account will have 5000 in it. That 5000 will have a leverage of 50:1 and a margin level of 200% or more. Example: at 50:1, 1 EURUSD lot requires 2000 margin. so with 1 lot you will have in excess of 200% margin level. This will allow for plenty of room for price to move without taking you out of your position. Your "stop" is the account itself. If you enter anywhere near correctly and have a clear Target Price in mind, it is almost impossible to run down the account. As I said before, in 3 years, I have only had one account closed on me. That is a 5% loss of capital, while during that time I have had over 100 winners, some of 300% profit or more. When I used stop losses, my percentage of winners was around 60/40. With this method my percentage of winning trades is 93%. Iīve had many trades run the account down 80% only to end up coming back and becoming a great winner in the end. It is also pretty stress free. You decideup front what amount you are risking and once the trade is placed, it becomes pretty much a hands off system. Of course this applies to position trades and H4 charts or higher. I am not a scalper.

A good trading system is important, but a great MM system is essential. I live and die by this system. It is the best I have ever seen.
Observation is the path to discovery.
  • #4,023
  • Oct 20, 2011 6:26am Oct 20, 2011 6:26am
How long do you think it will take for the rumor of a higher floor to get out and push it up again.

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I don't care which way the market is going as long as it's going my way
  • #4,024
  • Oct 20, 2011 6:30am Oct 20, 2011 6:30am
Quoting JLinder
Since it had to be moderated I believe no one did see my question and I believe that I doesn't have to be moderated anymore.

So I ask it again
The way I trade the news is stay out until the major fireworks are over then make an entry based on your analysis. The chance for a major spike in the opposite direction is to risky in my book.
Mark ... Everything you have been told is a LIE
  • #4,025
  • Oct 20, 2011 6:31am Oct 20, 2011 6:31am
Quoting JLinder
Since it had to be moderated I believe no one did see my question and I believe that I doesn't have to be moderated anymore.

So I ask it again
It all depends on each individual trading. Me I pick supply and demand levels I think will hold and let news drive price to me. Others will jump in, trade the news and scalp etc....... everyones different and uses what works for them. Right now I ain't even trading Eur$, looking at $CHF, $YEN and EUR/CHF wil look at E$ when price gets where I want it.
I don't care which way the market is going as long as it's going my way
  • #4,026
  • Oct 20, 2011 6:32am Oct 20, 2011 6:32am
Quoting JLinder
Since it had to be moderated I believe no one did see my question and I believe that I doesn't have to be moderated anymore.

So I ask it again
I trade on bounces of all forms of support and resistance.
News just helps me choose direction.
I do not counter trend
Those who say it cannot be done should not interrupt those who are doing it
  • #4,027
  • Oct 20, 2011 6:37am Oct 20, 2011 6:37am
Quoting PipKiller
How long do you think it will take for the rumor of a higher floor to get out and push it up again.

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Free money up for grabs justa matter of where to buy and when!
  • #4,028
  • Oct 20, 2011 6:37am Oct 20, 2011 6:37am
Anybody want to hazard a guess on why PA is so choppy today?
Kill the ego, or it will kill the mission.
  • #4,029
  • Oct 20, 2011 6:40am Oct 20, 2011 6:40am
Quoting AaronWard
Anybody want to hazard a guess on why PA is so choppy today?
From technical point of view, I guess it is soon going to break. It is hanging in this area for four days now.

T.
"I know one thing, that I know nothing." Sokrates
  • #4,030
  • Oct 20, 2011 6:41am Oct 20, 2011 6:41am
Quoting Tom_D_Trader
From technical point of view, I guess it is soon going to break. It is hanging in this area for four days now.

T.
Yeah, its pretty funny. I have scalped over 1200 pips on the 1.3824-1.3775 range alone.
Kill the ego, or it will kill the mission.
  • #4,031
  • Oct 20, 2011 6:43am Oct 20, 2011 6:43am
Quoting Alorente
I like your system. Let me detail mine for those who may be interested in trying it. I learned it 20 years ago from a great stock trader friend of mine. He called it the Box System.

Letīs suppose for round numbers sake that you have allotted 100,000 to your Forex trading. That will be your Main account at your broker. The Box system requires that you only have a maximum of 1/4 of your main account invested at any one time. The other 3/4 are kept in reserve. The investable 25,000 will be split into the various positions you are trading and you...
Interesting but am bit confused..Personally I've learn that trade without stop loss is like buying a car without insurance and thats really a expensive lesson for trade against the trend as when am wrong am will cut my loss immediately even the price moves in my favour later
If there was easy money lying around,no one would be forcing it into your
  • #4,032
  • Oct 20, 2011 6:43am Oct 20, 2011 6:43am
Quoting Alorente
I like your system. Let me detail mine for those who may be interested in trying it. I learned it 20 years ago from a great stock trader friend of mine. He called it the Box System.

.../...

A good trading system is important, but a great MM system is essential. I live and die by this system. It is the best I have ever seen.
That's an interesting system. I like it but would have to try it in a demo account for a while before I attempt it live.

My trades all require a certain amount of baby sitting due to what I explained to you. Sometimes support and resistance zones are dynamic, such as ema's and such so it is impossible to pre-determine where a bounce would occur in order to put a rescue/recovery trade in play.

As for the highlighted comment about MM being essential, I couldn't agree more. In fact I often lose my trades but 95% of the time it is at break even and the other 5% are very small losses (less than 0.1% of capital). However, when I win, it is 1% to 5% per trade
Those who say it cannot be done should not interrupt those who are doing it
  • #4,033
  • Oct 20, 2011 6:44am Oct 20, 2011 6:44am
Quoting PipTrapper
I trade on bounces of all forms of support and resistance.
News just helps me choose direction.
I do not counter trend
So today you would go short on the EUR/USD if the USD-news is green and the market responds to this news, but if the news is red you would do nothing?
Have I got it right?
  • #4,034
  • Oct 20, 2011 6:44am Oct 20, 2011 6:44am
Quoting FXMindset
Interesting but am bit confused..Personally I've learn that trade without stop loss is like buying a car without insurance and thats really a expensive lesson for trade against the trend as when am wrong am will cut my loss immediately even the price moves in my favour later

here is an idea for you:

95% of all forex players loose money
95% of all forex players use a stoploss
Kill the ego, or it will kill the mission.
  • #4,035
  • Oct 20, 2011 6:45am Oct 20, 2011 6:45am
Quoting AaronWard
Yeah, its pretty funny. I have scalped over 1200 pips on the 1.3824-1.3775 range alone.


1200 pips?Very nice,,am will awarded you the king of scalp later
If there was easy money lying around,no one would be forcing it into your
  • #4,036
  • Oct 20, 2011 6:46am Oct 20, 2011 6:46am
Quoting JLinder
Since it had to be moderated I believe no one did see my question and I believe that I doesn't have to be moderated anymore.

So I ask it again
Ok, I will tell you how I trade. I dont do anything else but watch the news whole day. I read I read I study, etc. And I do a lot of Elliot wave statistics.

And I am totally incompetent trader as I didnt enter a single trade in two weeks .

I was still in the sell mode while this bullish correction occured. I thought it will finish around 1,36, where I wanted to sell again, yet it didnt and raged up. So I wait, wait, wait, spam Piptrappers thread, wait, read ....

T.
"I know one thing, that I know nothing." Sokrates
  • #4,037
  • Oct 20, 2011 6:46am Oct 20, 2011 6:46am
Quoting AaronWard
here is an idea for you:

95% of all forex players loose money
95% of all forex players use a stoploss
as i know many people loose money because dont use stoploss mate and I was see this problem a lot
If there was easy money lying around,no one would be forcing it into your
  • #4,038
  • Oct 20, 2011 6:48am Oct 20, 2011 6:48am
We all search for the tidbits to interpret as to possible outcome.
Who is calling the shots on the EFSF is a question, when answered which will provide insight.

I find it highly interesting that it is Sarkozy flying to Germany rather then Merkel and Sarkozy meeting on common ground.

The EFSF is not a sure bet to be another bailout scheme financed by the taxpayers of Germany and the rest of Europe.

The ECB has made it very clear that they are not the ones responsible to solve political differences as to choice of methodology to resolve the debt crisis.

The Euro must be brought back onto stable ground, whatever that price level is, so that Europes economies are taken out of the danger zone caused by currency instability.

Currently the pair trades in a relatively tight range. I am positioned on the assumption that Germany has the upper hand in the negotiations and someone has to pay the tab for unsustainable debt loads.
The longer this plays out the more the Euro is damaged as it appears in the farce category to delay further.

To delay further means a weaker Euro as no decision should be viewed as a problem that is unsolvable. There simply must be some concrete steps exhibited towards resolution or this thing is really going to get ugly.
  • #4,039
  • Oct 20, 2011 6:49am Oct 20, 2011 6:49am
Quoting FXMindset
as i know many people loose money because dont use stoploss mate and I was see this problem a lot
Yeah, these are not real numbers. But still, I would hazard a guess that more people lose money from their stoploss than any other reason.
Kill the ego, or it will kill the mission.
  • #4,040
  • Oct 20, 2011 6:49am Oct 20, 2011 6:49am
Quoting AaronWard
Yeah, its pretty funny. I have scalped over 1200 pips on the 1.3824-1.3775 range alone.
Wow, that would be enough for a month for me. I have setup to make @ 200 pips a week. Yet I am supercareful.

Congratz to you sir.

T.
"I know one thing, that I know nothing." Sokrates
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