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  • #201
  • Jan 8, 2012 10:42pm Jan 8, 2012 10:42pm
Quoting cashforex
Hi Chips

Im trading live your way, today my account is in negative what should i do let it run or close all positions and take a loss been in since start of the asian session i normally liquidate all my positions around singapore lunch time

cheers
cash forex
The question is far out...

you are not trading my way...because we are not taking the same sales..
1000 ppl use the same system but their losses and profits are different ..are they trading the same.

I can't speak for your account and what you have been doing...you have to manage your DD..using the techniques.

Do you want continue trade..ask yourself..that question.

If my account was in a loss ..and i'm at the point where my DD is unmanageble..I would..stop the loss...
  • #202
  • Jan 8, 2012 10:42pm Jan 8, 2012 10:42pm
Quoting chips
..last time I check

There IS NO WRONG or RIGHT way to TRADE.

We'll let the record speak for itself..

cheers
no right or wrong way to trade? now THAT is hilarious. i suppose there is no right or wrong way to run a business, too, right? since you are so hung-up on the whole 'business' idea. no right or wrong way to drive a car. no right or wrong way to eat a meal. no right or wrong way to launch a shuttle into orbit.....

you guys are amusing.

if you really don't 'get' it, then you will in a few months.
Congratulations ScalaFX for coming out of the closet!
  • #203
  • Jan 8, 2012 10:46pm Jan 8, 2012 10:46pm
Hi Thorn,

I have trailed this system before i know what im doing i just wanted his opinion, as im just trying his method as from the original and im trading in micro lots,
its the real deal if you trade with real money demo will never build that confidence in you, if you trade demo you will always have the novice mind of an trader, this is my theory not everyone might agree with me

cashforex
  • #204
  • Jan 8, 2012 10:50pm Jan 8, 2012 10:50pm
Quoting nubcake
no right or wrong way to trade? now THAT is hilarious. i suppose there is no right or wrong way to run a business, too, right? since you are so hung-up on the whole 'business' idea. no right or wrong way to drive a car. no right or wrong way to eat a meal. no right or wrong way to launch a shuttle into orbit.....

you guys are amusing.

if you really don't 'get' it, then you will in a few months.
What's wrong this guy man...is he using common sense..I take it you are here just to cause confusion.

I won't reply to your post.

1 month from now I will post the final bal for everyone to see.. Then I will leave some on table for the BROKER...ehehehe
  • #205
  • Jan 8, 2012 10:55pm Jan 8, 2012 10:55pm
Hi chips,

Thank you for your advice,

your doing an great job keep it up this system is good with proper money management, I guess not for everyone, this is the only method that will put money in youe pocket week after week, like brijian say's all these traders rave on about how many pips they make but do they do it consistently ??? thats the question there may be 2% out of 100% of traders make an living out of the other methods, again they may be up one week in the red the next

regards
cash forex
  • #206
  • Jan 8, 2012 10:57pm Jan 8, 2012 10:57pm
Quoting cashforex
Hi Thorn,

I have trailed this system before i know what im doing i just wanted his opinion, as im just trying his method as from the original and im trading in micro lots,
its the real deal if you trade with real money demo will never build that confidence in you, if you trade demo you will always have the novice mind of an trader, this is my theory not everyone might agree with me

cashforex
Hi cash,

Yes, I agree. As long as its micro lots and losing doesnt hurt.

Since you are in the position you are in now..Maybe this would be a good time for the OP to give you (and everyone else) a clear cut explanation on how you go about controlling the drawdown that you are now experiencing. All that business model, inventory, rebalancing stuff is way over my head. Im going to stick with my daily charts. good luck..
  • #207
  • Jan 8, 2012 11:05pm Jan 8, 2012 11:05pm
Quoting chips
The question is far out...

you are not trading my way...because we are not taking the same sales..
1000 ppl use the same system but their losses and profits are different ..are they trading the same.

I can't speak for your account and what you have been doing...you have to manage your DD..using the techniques.

Do you want continue trade..ask yourself..that question.

If my account was in a loss ..and i'm at the point where my DD is unmanageble..I would..stop the loss...
Hi Chips

What techniques would you recommend for managing drawdown?

Can you provide some clear examples as I sense alot of confusion????
Master your Mind,,,Master the Market
  • #208
  • Jan 8, 2012 11:13pm Jan 8, 2012 11:13pm
Quoting cashforex
Hi Chips

Im trading live your way, today my account is in negative what should i do let it run or close all positions and take a loss been in since start of the asian session i normally liquidate all my positions around singapore lunch time

cheers
cash forex
I for one, cannot imagine why you would not position all the 0.01 indicator trades in a demo account and only trade the signals in your real account.

I believe this has been mention before, and maybe even answered but not sure about that.
It takes a lot for me to IGNORE you, but you can try.
  • #209
  • Edited 11:44pm Jan 8, 2012 11:25pm | Edited 11:44pm
Quoting thorn
Hi cash,

Yes, I agree. As long as its micro lots and losing doesnt hurt.

Since you are in the position you are in now..Maybe this would be a good time for the OP to give you (and everyone else) a clear cut explanation on how you go about controlling the drawdown that you are now experiencing. All that business model, inventory, rebalancing stuff is way over my head. Im going to stick with my daily charts. good luck..
OK ... Stop Trading..STOP adding positions if you are at your Max or near.. Add no more positions

1. make sure your hedge is bal...count the number of buys and sells...you have on.. equal BUYS AND SELLS.

2. wait for the LOSS PROFIT LOSS..cycle....then remove the highest +ve and the lowest -ve position..Do you see.. you are still making a profit

Reduce your exposure and still increase the bal .. But your account should be able to Handle Loss profit Loss cycle..

3. Wait for -ve to cycle the Loss Profit loss.. then Take the profit....even close it @ $0

4. On Wed Prepare to trade Tripple swap Runup...maybe 1 hour before 5pM EST look to go long..on the AUDUSD..

5. Short the EURAUD.. Collect interest if you hold and pips on the short..

6. Identify the Trend...More sells in profit short..More buys in profit..long... Ratio.. You will need volatility to implement this.

7. Now Notice I didn't say to Hedge or Freeze your Losses....this will take sometime

8. if you play Tripple SWap you can Bring your account into +ve. patience..

you really dont have to accept the losses...

But this all depends on your mental state and acccout bal.. hopefully you are not trading large lots relative to your account size

This is where you exercise the patience needed to run a business

Critique all you want....How you trade these intructions is only if you believe in the system and you have proven the concept on DEMO over and Over.
  • #210
  • Jan 9, 2012 12:36am Jan 9, 2012 12:36am
Quoting Erebus
I for one, cannot imagine why you would not position all the 0.01 indicator trades in a demo account and only trade the signals in your real account.

I believe this has been mention before, and maybe even answered but not sure about that.
I trade my indicator trades in my live account for the following reason; let me explain my thought process.

1. I open a hedge. Buy 0.01 AUD/USD & Sell 0.01 AUD/JPY.

2. If price increases, I Buy 0.02 AUD/USD & Buy 0.02 AUD/JPY.

3. At the end of the day, if my buy lots are positive, I close the 0.01 Sell AUD/JPY, 0.02 Buy AUD/JPY and maybe the 0.02 AUD/USD, depending on how far it is in profit, for a net profit. This is very important. I want to make my daily target.

4. I keep the 0.01 buy AUD/USD on and move it to BE. The reason for keeping the 0.01 buy AUD/USD on, is because it will be in a better position than the 0.02 buy AUD/USD and less likely to be stopped out if price retraces.

I try to build a position. If the trend continues, I repeat the steps and after a certain period, I will have multiple 0.01 buy AUD/USD lots open.
  • #211
  • Jan 9, 2012 5:53am Jan 9, 2012 5:53am
I have added iprofittracker indi as it gives me quick view of %.

Thanks to whoever made this indi.

Screen of chart attached.

Basked stated biased to buy this morning. Added two AUDUSD two NZUSD at 0.10 lot. Currently .61% in profit.
Attached Image (click to enlarge)
Click to Enlarge Name: Pit 6.JPG Size: 77 KB
Attached File(s)
File Type: ex4 i-Profittracker_%5BRU-EN%5D.ex4   21 KB | 477 downloads
  • #212
  • Jan 9, 2012 5:53am Jan 9, 2012 5:53am
This method is the reason why the mortality rate in the Forex Market 95 %, if want to deal unsuccessfully to trade basket, need not be taken into account, exposure, correlation between pairs, pip values, amplitude and volality.

sry for my poor English I am a businessman not a writer...
  • #213
  • Jan 9, 2012 6:16am Jan 9, 2012 6:16am
Quoting chips
OK ... Stop Trading..STOP adding positions if you are at your Max or near.. Add no more positions

1. make sure your hedge is bal...count the number of buys and sells...you have on.. equal BUYS AND SELLS.

2. wait for the LOSS PROFIT LOSS..cycle....then remove the highest +ve and the lowest -ve position..Do you see.. you are still making a profit

Reduce your exposure and still increase the bal .. But your account should be able to Handle Loss profit Loss cycle..

3. Wait for -ve to cycle the Loss Profit loss.. then Take...

Excellent answer

The critics will be back on later just to pick holes and and try and junk the system.

There are two reasons for this, they either just dont get it or more than likely have another agenda concerning the pitbull method of trading.

Nubcake,

I have had taken a look at your last few posts, from what I can see you dont really have anything good to say, Pitbull or otherwise, can I ask why you have such a strong opinion against the pitbull method?

Have you lost money trading this way, Im just curious.

As you are so concerned about traders who in the main are adults and are totally resposible for their own actions as to whether they should trade live or not, perhaps you would be so kind as to open a thread and explain how you trade so that we can give you our impartial view as to why your system is crap.

Rock on Pitbull.

M.
  • #214
  • Jan 9, 2012 6:22am Jan 9, 2012 6:22am
Quoting moodybot
Excellent answer

The critics will be back on later just to pick holes and and try and junk the system.

There are two reasons for this, they either just dont get it or more than likely have another agenda concerning the pitbull method of trading.

Nubcake,

I have had taken a look at your last few posts, from what I can see you dont really have anything good to say, Pitbull or otherwise, can I ask why you have such a strong opinion against the pitbull method?

Have you lost money trading this way, Im just curious.

As you are so concerned about...

typical answer is typical.

oh, oh, i'm sorry. pitbull method is the best. brijon makes total sense. loss profit loss loss profit profit business profit monkey banana. is that better?

you guys are fodder for those with at least half a clue. you just don't want to hear that this is all rubbish. it'll take you some months, but i'm sure you'll figure it all out in the end. in the meantime expect everyone to be laughing at you like they are. and believe me, they are.
Congratulations ScalaFX for coming out of the closet!
  • #215
  • Jan 9, 2012 7:45am Jan 9, 2012 7:45am
Quoting nubcake
typical answer is typical.

oh, oh, i'm sorry. pitbull method is the best. brijon makes total sense. loss profit loss loss profit profit business profit monkey banana. is that better?

you guys are fodder for those with at least half a clue. you just don't want to hear that this is all rubbish. it'll take you some months, but i'm sure you'll figure it all out in the end. in the meantime expect everyone to be laughing at you like they are. and believe me, they are.

Post your system nubcake.

M.
  • #216
  • Jan 9, 2012 7:53am Jan 9, 2012 7:53am
Quoting moodybot
Post your system nubcake.

M.
of course. typical response when you clowns feel threatened.

"show us your system". get a new line, yeah? how about you use a little brain power and come up with something that works instead of this nonsense.

you silly little children haven't even realized that a basic indicator would be simple to make to use instead of this retarded demo basket nonsense.

now, reply with something pointless.
Congratulations ScalaFX for coming out of the closet!
  • #217
  • Jan 9, 2012 8:06am Jan 9, 2012 8:06am
Buys:
AUD/USD major pair
NZD/USD major pair
EUR/GBP eur/usd vs gbp/usd
EUR/USD major pair
GBP/USD (you are trading the relative value of gbp vs usd vs euro already)
Sells:
USD/JPY major pair
NZD/JPY nzd/usd vs usd/jpy
EUR/JPY Major pair
GBP/JPY GBP/usd vs usd/jpy ,,,,why?
AUD/JPY aud/usd vs usd/ jpy?

seems like a bad idea.

first of all, why do you want to HEDGE? such minuscule amount of money?

and as a trading idea? Hedges are usually used for big sums of money when being exposed to variable risk, like brokers, banks and the like. in the MILLIONS

now when speculating, you hedge? means you gain 0 and pay spread? how many millions are you trading?

your spread is variable according to the liquidity of the pairs......but your exposure isnt seems like a bad idea.

and just to ask a better question? how are you calculating the synthetics?

i think nubcake is right
AVT INVENIAM VIAM AVT FACIAM
  • #218
  • Jan 9, 2012 8:10am Jan 9, 2012 8:10am
why dont you just try the majors you are attempting to replicate the value off, by not really ......calculating the value of and not really trading the relative value of?

seems to me you want to speculate on the Eur/jpy then do it
then the Eur/usd

and usd/jpy, you got some commodity currencies there....you might want to try the usd/cad and call it a day.

hedging is limiting profits and increasing trading expenses.........never hedge when speculating or you cancel yourself out.

hedge when you are being hit by variable risk that you have no control over and your net exposure is so big that you need to offset it somehow
AVT INVENIAM VIAM AVT FACIAM
  • #219
  • Jan 9, 2012 8:20am Jan 9, 2012 8:20am
you silly little children haven't even realized that a basic indicator would be simple to make to use instead of this retarded demo basket nonsense.

now, reply with something pointless.[/quote]

Nice one, can you post the indicator, saves opening the script.
  • #220
  • Jan 9, 2012 8:24am Jan 9, 2012 8:24am
nubs is a little....................unorthodox


but you might one to try indicators that track the overall strength of the currency in question as it seems to be what the basket is following

eur index
jpy index
usd index

instead of paying double the spread and cancel out........or worse incorrectly calculation of the synthetics

you could compare the indexes relative strength to each other and decide which directional position to take against which currency via the majors
AVT INVENIAM VIAM AVT FACIAM
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