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  • #572,781
  • Dec 9, 2011 10:13am Dec 9, 2011 10:13am
Quoting Yuchen
easy my orange friend, he is an insightful trader and you too....
Oh, that flatters me a lot. But please, dont call me insightfull trader. I may be insightfull economist, philosopher, fella, guy or whatever, but I trade for 4 months.

T
"I know one thing, that I know nothing." Sokrates
  • #572,782
  • Dec 9, 2011 10:14am Dec 9, 2011 10:14am
learning from you. taking notes. thanks MaxDoom and the IEguy9_09.
  • #572,783
  • Dec 9, 2011 10:16am Dec 9, 2011 10:16am
Quoting Tom_D_Trader
Oh, that flatters me a lot. But please, dont call me insightfull trader. I may be insightfull economist, philosopher, fella, guy or whatever, but I trade for 4 months.

T

don't take this the wrong way, but you have traded for 4 months and yet have 7 vouchers.

The voucher system is suppose to help show up the good insightful traders! just shows the system is f* and means more like being a "made man" if you know what I mean
  • #572,784
  • Dec 9, 2011 10:17am Dec 9, 2011 10:17am
Quoting Tom_D_Trader
Oh, that flatters me a lot. But please, dont call me insightfull trader. I may be insightfull economist, philosopher, fella, guy or whatever, but I trade for 4 months.

T
Really? How can you have such proper money management if you are a starter? You had other trading experience before? You also join this forum 2 years ago
  • #572,785
  • Dec 9, 2011 10:23am Dec 9, 2011 10:23am
Quoting theIEguy9_09
Here is the best wave ever....go to a 1min chart on MT4...Magnify your chart to it stops then back it up with 2 clicks....WAVES FOR DAYS!!! It's a billion ways to trade...Pick one way and take it straight to the bank!!
Ahhhh +5...I think the Forex has been the most difficult/simplest things I have ever ventured into. I have been completely lost to understanding it in under a year...Whats odd is I found this market looking for a way to invest my money..Not to mention a money manager approached me a year prior trying to get me to invest 10K with him...LMAO I think not!! I encourage new traders to find a trading plan that suits them...come up with a firm entry and exit plan and stick with it....Humans are visual learners...Just keep watching the charts with whatever system you decide to use and stick with it....Sooner or later you will get the hang of things and after that...The market is VERY REWARDING to successful traders long term....
  • #572,786
  • Dec 9, 2011 10:23am Dec 9, 2011 10:23am
hey all,
i'm a new member to ff, i've mostly spent my time from about a month till now reading posts on this thread.
i have noticed some pro traders here with great experience, and also noticed kids who just takes trading as a game or a gamble.
i've started fx about three months ago, opened a demo for about a month and now i have a live account.
i'm still a beginner looking to observe and learn as much as possible from pro's on this thread.
i've managed to make 350% profit in 3 weeks, but yesterday i actually lost about 70 % of the profits. my trade were half of the time over-leveraged
today i didn't enter any trade, well i actually did but very small lots (0.01 lots) just to test where my mistakes are.
yes, i've read and learnt a lot on the importance of money management on this thread, also some technical and fundamental lessons from really good pro traders here, cloggie, fxmastermind, geppy, chicky, and some others, they may not tell you directly what to do , but they actually try to point us ( beginners trying to trade and take trading seriously) to the right direction and show us the big picture, and a lot of other very very helpful lessons, but one should really listen to them and read instead of writing nonsense.
anyway, i knew that since my trades are made using large lots , over-leveraged, i would eventually be facing and hitting the money mgmt wall, yesterday i learned my lesson, i was looking to make some fast $$ as a beginner, although i know and am very convinced that trading is a real hard-work, serious job that you could profit from consistently & it's not a get-rich-fast-scheme, so i hit the breaks now and trying to go back to some posts that cloggie and other pros posted here on money mgmt to be more disciplined in future trades.
till now my entry end exit points are very bad, i dont use SL, so yes i'm still in the loop of the "beginners' mistakes" and i'm working on them daily.
i know it will take hard work , but i will try my best at this, i'm very serious regarding trading. i'm taking technicals and fundamentals in my analysis and style, i consider news, fundies, and technicals, combined together would actually be great for trading if the trader knows when and how to take advantage of such details.
this post was just to get everyone here to get to know me a bit more, from now on i'm going to share and contribute my thoughts, and please anyone Especially the pros, feel free to tear my analysis/thoughts apart, slap me hard when i'm not on the right track and i hope and believe i will be a good trader one day.
  • #572,787
  • Dec 9, 2011 10:24am Dec 9, 2011 10:24am
Quoting MissPips
Dear Cloggie,

Since I feel so bad for you I have decided to share my secrets with you:

1) Never start the day by reviewing the higher timeframe charts and creating a trade plan. (So what if there is a giant pinbar or major trend line on the daily - that will just bias your opinion, and the key thing in forex is to be able to shoot from the hip.)

2) Never look to the left - that's just old history. What matters in trading is the righthand side of the chart - that's where the action is.

3) You can get rid of all those old support lines and...
. Yes, i am just waiting for this magic EA or a nice fund registered in some offshore haven. And then his disciples will call for the FBI and the National Guard again to find out what island he retired in. Wayne Jackson chose some sunny place as well if i can remember correctly.
So friends, come and sing along with me will ya? And 1 and 2 and 3

Hare Cloggie Hare Cloggie
Cloggie Cloggie Hare Hare
Hare Rama Hare Rama
Rama Rama Hare Hare
  • #572,788
  • Dec 9, 2011 10:30am Dec 9, 2011 10:30am
EU moved up so aggressively last Wednesday to break an important resistence at 3420 and tested 3530, it had a fake broken 3530 by the Non-Farm last friday but then dropped almost 200 pips after..
I opened 4H chart and i can see a slightly down channel from last friday keep form lower high (1.3549-1.3459-1.3430), and then i duplicate that trend line and connect it parallel to see there is a lower low trend line (1.3363-1.3336-1.3289-1.3282). I think 1.3430 is still playing an important role by now. I believe a successful break 1.3430 will definitely drive this pair up.
On the other hand, if EU break 1.3258, last week's low, i think it will be very dangerous for long and it will probably test 1.3144 again.
I dont know how should I trade EU now and it is a good idea to enjoy the rest of this week now.
I hold my long on EUR/AUD and I am so happy 4H does not look bearish anymore and i think my longs are safe now, i hope it has power to break 3250 next week !!!!
  • #572,789
  • Dec 9, 2011 10:32am Dec 9, 2011 10:32am
Quoting MaxDoom
don't take this the wrong way, but you have traded for 4 months and yet have 7 vouchers.
People who have vouched for me are usually fundamental traders. I dare to say that I am pretty good economist, so I contribute in fundamental discussions a lot. So although I aint skilled trader, I received these vouchers for my economical insights.

Nevertheless, it is needed to say that voucher system here experiences pretty heavy inflation, so the fact someone has vouchers doesnt guarantee his competence as a trader at all. Like I have received vouchers for economical insights, Incrediblle vouches for anyone who joins his fight against cloggie. For that reason I havent vouched almost for anyone, because I dont want inflation to spread.

T
"I know one thing, that I know nothing." Sokrates
  • #572,790
  • Dec 9, 2011 10:34am Dec 9, 2011 10:34am
Quoting Tom_D_Trader
People who have vouched for me are usually fundamental traders. I dare to say that I am pretty good economist, so I contribute in fundamental discussions a lot. So although I aint skilled trader, I received these vouchers for my economical insights.

Nevertheless, it is needed to say that voucher system here experiences pretty heavy inflation, so the fact someone has vouchers doesnt guarantee his competence as a trade at all. Like I have received vouchers for economical insights, Incrediblle vouches for anyone who joins his fight against cloggie....

fair enough
  • #572,791
  • Dec 9, 2011 10:35am Dec 9, 2011 10:35am
Quoting Yuchen
he will learn one day and started to trade from 0.01 or 0.02 lot and i believe he will be a not losing trader after a few years.
hey dude, in case you were talking about me... please stop. i can handle answering all the idiots on this thread by my own don't worry about me
When life gives you lemons, make lemonade
  • #572,792
  • Dec 9, 2011 10:35am Dec 9, 2011 10:35am
Quoting Yuchen
Really? How can you have such proper money management if you are a starter? You had other trading experience before? You also join this forum 2 years ago
2 years ago I made a scalping account and managed to burn it in 6 months or so. But I dont count that time as "trading" since I only used Stoch + MACD + MA cross.

And err, money management. I play poker in casinos for two years and guess what is my profession? Accountant at capital markets. All I do all my life is money management.

T
"I know one thing, that I know nothing." Sokrates
  • #572,793
  • Dec 9, 2011 10:37am Dec 9, 2011 10:37am
Quoting vlaciar
hey all,
i'm a new member to ff, i've mostly spent my time from about a month till now reading posts on this thread.
i have noticed some pro traders here with great experience, and also noticed kids who just takes trading as a game or a gamble.
i've started fx about three months ago, opened a demo for about a month and now i have a live account.
i'm still a beginner looking to observe and learn as much as possible from pro's on this thread.
i've managed to make 350% profit in 3 weeks, but yesterday i actually lost about 70 % of the profits. my...
hi, it's really hard for traders to understand the importance of money management until they lost money to learn that mistake. i suggest you withdraw your intial deposit, and trade with rest of your profits. you made 350% return and lost 70% so you had 105% return overall if i didnt make a mistake. Then start to trade with small amount as possible with your profits, however, you may unable to control your mood and trade large margin and eventually make another mistake but the good thing is you use your profit to pay for your forex tution fee which is not too bad.
good luck.
  • #572,794
  • Dec 9, 2011 10:38am Dec 9, 2011 10:38am
Quoting micho
hey dude, in case you were talking about me... please stop. i can handle answering all the idiots on this thread by my own don't worry about me
nope, it is not you, i am sure you are way better than a not losing trader, you are a constant profitable trader now.
i am talking about that dubai boy named Incredible.
  • #572,795
  • Dec 9, 2011 10:41am Dec 9, 2011 10:41am
Quoting Tom_D_Trader
2 years ago I made a scalping account and managed to burn it in 6 months or so. But I dont count that time as "trading" since I only used Stoch + MACD + MA cross.

And err, money management. I play poker in casinos for two years and guess what is my profession? Accountant at capital markets. All I do all my life is money management.

T
Is poker really useful and important for a trader? i applied for a stock trader job and they gave me a pre-interview test yesterday, one of the questions was asked me rank poker from highest to lowest.

I see, an accountant at capital markets definitely gave you good money management. may i ask you do you think CFA is helpful to find a financial job?
  • #572,796
  • Dec 9, 2011 10:48am Dec 9, 2011 10:48am
Quoting SirMcPip
. Yes, i am just waiting for this magic EA or a nice fund registered in some offshore haven. And then his disciples will call for the FBI and the National Guard again to find out what island he retired in. Wayne Jackson chose some sunny place as well if i can remember correctly.
So friends, come and sing along with me will ya? And 1 and 2 and 3

Hare Cloggie Hare Cloggie
Cloggie Cloggie Hare Hare
Hare Rama Hare Rama
Rama Rama Hare Hare

Last four lines are interesting, where did you learn it..
  • #572,797
  • Dec 9, 2011 10:54am Dec 9, 2011 10:54am
Quoting Yuchen
hi, it's really hard for traders to understand the importance of money management until they lost money to learn that mistake. i suggest you withdraw your intial deposit, and trade with rest of your profits. you made 350% return and lost 70% so you had 105% return overall if i didnt make a mistake. Then start to trade with small amount as possible with your profits, however, you may unable to control your mood and trade large margin and eventually make another mistake but the good thing is you use your profit to pay for your forex tution fee which...
yeah i actually felt the frustration and the need to take back what i lost in one big move, but no, i'm taking trading as a serious long term business, so i actually left the fx platform, slept, woke up today and traded very small lots in order to target my entry and exit mistakes. so i was a bit discipline.
the bullet that hit me yesterday was when Draghi was speaking, i got on a good position , but while i was listening very well, i heard him when he said ECB bond buying has limits , but i never thought it would have that huge negative impact , and above that all, the technicals were very well lined up for a short position but i was long biased due to draghi's first spike up. and no SL, and there goes my longs.
  • #572,798
  • Dec 9, 2011 10:55am Dec 9, 2011 10:55am
Quoting Yuchen
Is poker really useful and important for a trader? i applied for a stock trader job and they gave me a pre-interview test yesterday, one of the questions was asked me rank poker from highest to lowest.

I see, an accountant at capital markets definitely gave you good money management. may i ask you do you think CFA is helpful to find a financial job?
Well playing poker in casinos will learn you two things. Anger management/absolute self control. And money management. Quite handy for a trader. Btw, just for fun, I have several profiles I use while playing, but 80% I play agressive bastard profile. I p!ss of everyone at the table and while they dont pay attention and think of how to insult me I rob em.

Hm, dunno about that CFA. I have bachelor in Economics and it was good enough for my current job, but if I want to move further, I need to do Masters. This FX account is supposed to be my way to get back to school as I wont be able to work full time while studying.

Btw, I am cooking, so I may not be responding.

T
"I know one thing, that I know nothing." Sokrates
  • #572,799
  • Dec 9, 2011 11:05am Dec 9, 2011 11:05am
Quoting MaxDoom
1.34 back in sight
What wave analysis book do you recommend? .... The only thing I read on the subject is babypips .... I have a book written by Precher and Frost ... . I Do not bother you anymore. Thanks again and sorry for my english.
  • #572,800
  • Dec 9, 2011 11:13am Dec 9, 2011 11:13am
Quoting kbeza
What wave analysis book do you recommend? .... The only thing I read on the subject is babypips .... I have a book written by Precher and Frost ... . I Do not bother you anymore. Thanks again and sorry for my english.
Prechter is great, though I didnt read whole book from him. There is a whole thread about waves here also.

http://www.forexfactory.com/showthread.php?t=201169

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