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  • #577,381
  • Dec 22, 2011 2:09pm Dec 22, 2011 2:09pm
Quoting BoredToLoose
If you never experienced the new web 3.0 and realtime, so see the showcase from the first Portuguese economic website and one of the firsts worldwide

Major Index live on second and Portuguese stock exchange. ALL FREE

http://social.economico.pt/
thanks for the post.
  • #577,382
  • Dec 22, 2011 2:18pm Dec 22, 2011 2:18pm
Quoting lolygagv2
There's a definite difference between slowly taking your trades and squeezing out a probable edge.....trading 20 times and winning 15 out of 20, or even 10 out of 20 but for more pips, and Winning 10 trades in a row with 100:1 leverage and thinking you are good, to only take 2 trades wrong, and suddenly find your account down 33%.

This is why the washout rate in FX is soooo high.
Agreed!

You look at their trades and it is a classic case of their winners being 5 or so pips and then they have one trade that loses 50 pips. The law of probabilities means that over time they will lose all their money. It is basic maths, but then again, this subject isn't Mr Incrediblle's strong point as I pointed out earlier today.

I don't know if you missed the earlier conversation when he posted the 'inflated' trading stats of his newly found friend, yhaffiz, so here is my post with the link to his trades -

Quoting bbakker



http://yhaffiz.mt4live.com/


His inconsistent use of lot sizes will eventually blow his account. In one trade it was 43.45 lots which was the highest number of lots traded in one position, although yet again Incrediblle has this Pinocchio habit
Now, he has made some serious money in 14 weeks, but this is a classic case of gambling, not trading and in the long run he will blow this account, speaking from a statistical view point. The inconsistent use of lots for each trade is unreal. He trades 1.8 lots on one postition and then on the next trade it is nearly 44 lots. I have even seen a 0.1 lot trade in there.

If this is what your trading statment looks like people, then you are gambling, not trading!

Here endeth the lesson!

P.S. Go through the early posts from Mr Incrediblle today if you're bored and want a laugh.
  • #577,383
  • Dec 22, 2011 2:29pm Dec 22, 2011 2:29pm
buy side algo's working away
  • #577,384
  • Dec 22, 2011 2:33pm Dec 22, 2011 2:33pm
Quoting MitchWorse
Here's the stick.

Just blow off the dust...
lol... that's perfect!
  • #577,385
  • Dec 22, 2011 2:36pm Dec 22, 2011 2:36pm
Quoting sidhujag
buy side algo's working away
Expect the same until Asia, which might give us a little pop north. Other than that, nothing much till London open and even then it will be just a morning affair. Xmas is 3 days away, time to take a well deserved break. I am already and just passing time on here while the missus is gassing on the phone.
  • #577,386
  • Dec 22, 2011 2:40pm Dec 22, 2011 2:40pm
Quoting bbakker
Agreed!

I have even seen a 0.1 lot trade in there.
.

Hey........the .1 lots..........that's just stupid lol, maybe he was short a 12 pack of beer to celebrate his winnings. haha.

I actually do .01 lots, for some test trade ideas.....just to see what would happen if my conviction is low and have some "skin" in the game when I don't feel like trading. I think it's useful, especially for new EAs, that you feel should make money, but you want to build confidence into.
  • #577,387
  • Dec 22, 2011 2:48pm Dec 22, 2011 2:48pm
Quoting lolygagv2
Hey........the .1 lots..........that's just stupid lol, maybe he was short a 12 pack of beer to celebrate his winnings. haha.

I actually do .01 lots, for some test trade ideas.....just to see what would happen if my conviction is low and have some "skin" in the game when I don't feel like trading. I think it's useful, especially for new EAs, that you feel should make money, but you want to build confidence into.
When trying out any new system, you have to demo it first, then when you build confidence, go in small and slowly you ramp it up using set rules as you gain complete confidence in the system and of course the capital.

Common sense you would think, but it is quite obvious that this is a path that many choose to ignore.
  • #577,388
  • Dec 22, 2011 3:05pm Dec 22, 2011 3:05pm
big boys denied buy side hfts to break tl under 1250 but broke right after ny so asia and london prob take it up
  • #577,389
  • Dec 22, 2011 3:14pm Dec 22, 2011 3:14pm
TWO WOLVES
One evening, a very wise, old Indian chief was speaking with his grand-son
about life, telling him about the internal battle that goes on inside all
people.
He said, “My son, inside all of us there exists a constant battle between
two wolves. One wolf is very evil. It forces you to deal with anger, envy,
jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment,
inferiority, lies, false pride, superiority, and a self-centered, destructive ego.
The other wolf is good. It helps you to experience joy, peace, love,
hope, serenity, humility, kindness, benevolence, empathy, generosity, truth,
compassion, faith, self-respect, and to develop a giving, constructive ego.”
The grandson thought about it for a minute and then asked his grandfather,
“Which wolf wins?”
The wise, old Indian chief replied, “My son, the one you feed.”
Beauty awakens the soul to act. Dante Alighieri
  • #577,390
  • Dec 22, 2011 3:26pm Dec 22, 2011 3:26pm
Hello Traders,

I've been analysing the forex markets for over two years on dummy accounts but looking for different perspectives as this is a contributing factor to price action before creating a live account.

looking at the M1 Chart, surely 1.3053X is a line of resistance due to the strong selloff at that point?

So.. the market should retest that point at least twice? Would a pending just under the point of resistance as a short position be suitable for a quick profit?

Thanks,


John.
Even the worst trade can close with profit. Just give it time.
  • #577,391
  • Dec 22, 2011 3:37pm Dec 22, 2011 3:37pm
Quoting John Gray
Hello Traders,

I've been analysing the forex markets for over two years on dummy accounts but looking for different perspectives as this is a contributing factor to price action before creating a live account.

looking at the M1 Chart, surely 1.3053X is a line of resistance due to the strong selloff at that point?

So.. the market should retest that point at least twice? Would a pending just under the point of resistance as a short position be suitable for a quick profit?...
m1... you don't mince your timeframes.

We are in a range, so yes 1.3053 is resistance with ~1.3040 serving as support for the last 3.5 hours. With 13 pips to play with, you need to keep your SL tight. Good luck!
  • #577,392
  • Dec 22, 2011 3:49pm Dec 22, 2011 3:49pm
http://a1112.hizliresim.com/s/q/192v5.png
  • #577,393
  • Dec 22, 2011 4:07pm Dec 22, 2011 4:07pm
dno about eu but if i were u guys id take positions in oil and s&p as we are about to see the biggest bull run ever and gold to 2800 by mid 2012
  • #577,394
  • Dec 22, 2011 4:25pm Dec 22, 2011 4:25pm
Today's TABLE with ZIGZAG + PIVOT SURVEY for the needs of trading the EUR/USD pair:

2011-12-22_23h00 - ZigZag + Pivot Survey _ EURUSD _ Rollover _ W-51 a






;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #577,395
  • Dec 22, 2011 4:26pm Dec 22, 2011 4:26pm
Quoting sidhujag
dno about eu but if i were u guys id take positions in oil and s&p as we are about to see the biggest bull run ever and gold to 2800 by mid 2012
Gold to 2800 within a year? You are out of your mind.
  • #577,396
  • Dec 22, 2011 4:29pm Dec 22, 2011 4:29pm
Quoting John Gray
Hello Traders,

I've been analysing the forex markets for over two years on dummy accounts but looking for different perspectives as this is a contributing factor to price action before creating a live account.

looking at the M1 Chart, surely 1.3053X is a line of resistance due to the strong selloff at that point?

So.. the market should retest that point at least twice? Would a pending just under the point of resistance as a short position be suitable for a quick profit?...

Hey bro
BB is correct, keep very tight control, personally, you are looking to sell support very close to the 1hr ltl of the channel / bear flag, rr is much preferable to long, however, I have been selling from the utl, waiting for this support to break, it is confluence of various strong supports, so I would suggest your short is high risk, long has better rr, but if these supports start to break she is toast, perhaps 6 shooter scalp, may work, but pa can get crazy this time of year and end of week be careful

kiwi
If you are new to Forex? Say Goodbye to your account!!
  • #577,397
  • Dec 22, 2011 4:36pm Dec 22, 2011 4:36pm
Gidday

Bad habit off mine is to hedge the market with a small spend each way.sooner or later it works against me.Just trying to nut out the markets an not lose all the time.There is a lot of money been dumped into the system to fool all the Ma in Pa Kettles like me.My thoughts would be to try an keep the players in the market longer.If you want to grow your business then you need new customers.Everybody needs to earn more money,FX market is missing out on millions off new customers.Most people will not do this as they know its way to risky.Still I enjoy trying to do something new an hopefully I can improve results in the new year.
  • #577,398
  • Dec 22, 2011 4:45pm Dec 22, 2011 4:45pm
Quoting sidhujag
dno about eu but if i were u guys id take positions in oil and s&p as we are about to see the biggest bull run ever and gold to 2800 by mid 2012
Good luck with that, it won't hit 2800, and I would love to see 'the biggest bull run ever', but then again, your idiocy does not qualify it as a valid opinion...sorry boss man.
  • #577,399
  • Dec 22, 2011 4:50pm Dec 22, 2011 4:50pm
Quoting eliteincome
Gidday

Bad habit off mine is to hedge the market with a small spend each way.sooner or later it works against me.Just trying to nut out the markets an not lose all the time.There is a lot of money been dumped into the system to fool all the Ma in Pa Kettles like me.My thoughts would be to try an keep the players in the market longer.If you want to grow your business then you need new customers.Everybody needs to earn more money,FX market is missing out on millions off new customers.Most people will not do this as they know its way to risky.Still...
Haha Bro
You got it all wrong, forex gobble and spit out new traders "all the time", inclluding better traders who ignore rr mm,
If every retail trader went short right now, the market would not even flinch.
Retail is but a gnat on an elephants butt.

Is not a game to play, is very serious business, and must be treated as such, not get rich quick scheme, is much hard work research, etc, long before even enter trade.

Trade safe bro, this time of year is very risky Kiwi
If you are new to Forex? Say Goodbye to your account!!
  • #577,400
  • Dec 22, 2011 4:56pm Dec 22, 2011 4:56pm
Quoting LaMaschera
TWO WOLVES
One evening, a very wise, old Indian chief was speaking with his grand-son
about life, telling him about the internal battle that goes on inside all
people.
He said, “My son, inside all of us there exists a constant battle between
two wolves. One wolf is very evil. It forces you to deal with anger, envy,
jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment,
inferiority, lies, false pride, superiority, and a self-centered, destructive ego.
The other wolf is good. It helps you to experience joy, peace, love,
hope, serenity,...
Very very nice, I have borrow thank you, very wise indian
If you are new to Forex? Say Goodbye to your account!!
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