Technical Analysis Fallacy

buy stops best watch out.
they seems gunning.

Hi Kinky,

Maybe the way I expressed myself was too confusing. To put in simple terms, it means that with a USD10k account, my margin used is USD1k. With a 50 times leverage, i can control a position of 50 x 1k = USD50k.

Hope this clarifies.

Regards

that works out to 5x leverage.
will survive
as accout grows, the leverage will wind down.
hopefully 1 day will be zero.
estimated tenure is 1 to 2 years, for me should be 1 year @ give take 400%roi.
if you disciplined.
but remember that we can only take as much as the market is willing to give.
some years can have drought. Some years tsunami. so make haste and never force.
1st million is the hardest, after that is all gravy.

regards

if you trade based on daily charts, probably will take 4 life time achieve zero leverage. but of course i cannot tell for sure. will yoyo P&L up and down the book depending on how strong the trends.
On short tenure charts with consistency, can easily make it in 2 years. Because you will be over lapping volatility fold backs. in a 1000 pip range a daily trader can make 1000 pips minus brokerage.
For a pro can easily make approx 5000 based on your book. of course there are many variables involved.

surely you will not make a good living on the small seed cap, but is a way for retirees stay valid.So no dream give up day job unless you are sick or too old or force into vss. With savings from day job and growing tradewins, your retirement should be wonderful, unless they play with inflation or zero and/or negative interest returns.

it happens to me as well, will make it up as long as market is there.

Very useful, thanks. hope to learn more there.

Thanks for the correction, Chief. Will b careful in giving numbers in future.

Also thanks for the very detailed explanation of how things can workout in a realistic scenario based on consistent performance. For me, consistency is still an issue. But I think I have learned to avoid 10% DD scenarios... it took me a lot of pain and a long time to learn this. I hope to stay consistent to this mindset.

I am definitely not ready to give up my day job for this. After my first million maybe

Appreciate the sound advice and will be working hard to keep the reputation and honour of TAF

regards

Thanks simpleman, it feels good that i'm not alone
practice, practice, practice... i'm sure we will get there.

welcome to the fx world

One evening in late 2006 I was having a rest while my mobile phone rang. I picked up the phone and the person on the other side introduced himself as broker and told me that he found my number from some kind of investors list or bulletins. Ho told me that he has a gold company stocks that is trading on Nasdaq OTC and if I am interested he can get me at 10-15% discount because the broker company is holding the stock from the low prices and do not want to off load in the market as it can depress the price. He gave me the company symbol to check and he also gave me broker website to check.

I agreed to buy some shares and transferred the money into their Navis, Carribean bank account. After couple of weeks the price of that stock went up 25%, I received a phone call again from that broker offering me more of the same shares again 10-15% discount , as the price was going up I thought lets buy more shares and I sent them more $, price of the shares went up again as the gold price was going up, after few weeks same thing happened again and I gave them more money but this time it was in Spanish Bank account.

The price of the stock has doubled in the next six months than I originally purchased so I decided to sell all of them and realize the profit. I gave that broker a call and asked them if they can sell all the shares and sent me back the money, they sold all my shares and instead of sending me money they bought shares in another pharmaceutical company which was not even listed on any exchanges. When I asked them why they told me that it is very good company and going to go for an IPO soon, when it will go for IPO we will sell them on and you realize your profit, I thought lets trust the broker again and wait for the IPO, almost 12 months went I asked them and the Pharma company on several occasions but they were just not replying the way they should have relied.

Then I started searching on the net with the broker company’s name and came across a forum where there were more people in the same situation and I joined them in their discussion. Later on lot more people joined us and we made email group with more than 100 people who were cheated by the same broker and the Pharma company.

We then started contacting police and started to gather the monies we had given to them, it was almost $5,000,000 they took from us mainly in UK, my share was £18,000. Police said they can’t do it because the broker who did the fraud is not UK based. Then we contacted SEC, USA after lot of struggle they agreed to investigate Pharma company as it was based in Florida. During that time we constantly keeping an eye on Pharma company’s website and their claims on several joint ventures which we found fake as we contacted the companies Pharma was claiming to have joint ventures.

After a year investigation by SEC they found Pharma was not company and was created to get money out of investors pocket and one of the pioneer director had already been convicted of fraud in the past. Those directors have been found guilty of fraud and have been sentenced in Dec 2010 but we have not received our money back all of it have been spent by these crooks.

They are still looking for the broker but so far no success, they can run but can’t hide. These scam are called “boiler room scam” but not many people knew back in 2006/07.

Now, whenever I give my money to any financial institutions I make sure they are registered with FSA because if something happens later on FSA will re-imburse up to £85000 of loss.

Because of bad people it has become very difficult to trust the honest people.

Regards

http://www.reuters.com/article/2012/...82R06Y20120328

Amazing things people do with Finance....



V

http://prayerfoundation.org/mother_t..._it_anyway.htm

People are often unreasonable, irrational, and self-centered. Forgive them anyway.

If you are kind, people may accuse you of selfish, ulterior motives. Be kind anyway.

If you are successful, you will win some unfaithful friends and some genuine enemies. Succeed anyway.
If you are honest and sincere people may deceive you. Be honest and sincere anyway.
What you spend years creating, others could destroy overnight. Create anyway.
If you find serenity and happiness, some may be jealous. Be happy anyway.
The good you do today, will often be forgotten. Do good anyway.

Give the best you have, and it will never be enough. Give your best anyway.

In the final analysis, it is between you and God. It was never between you and them anyway.

Really like this. Well played in the light of the situation.

Good Trading
Mike

Thank V.

zz

GBP bad gdp report push everything down.

we missed the euro drop.
ok back to work.

regards

Most certainly sir! I have no desire to do anything else.

I know MaMood is busy, just messing around with him a bit. No hand holding needed.

Family always comes first.

Good Trading
Mike

Morning Fti!

Rested well?

Battlestations?

//////

jaro.
no, i feel mostly tired.
So i will slow down for the week, also since is month end.

regards

Maybe because I am a female, I never bother about public concerns.
Sometimes when Chief post comments that people may not take it in a pleasant way, I think, "ai ya, why bother".

But sometimes I think, if he didn't bother, where I could go to learn?

Last time when I had emotion burst, I received PM/email from TAF friends and strangers. I say "stranger" because I didn't even know their name. They offered me prayers, encouragements, medical advices, job in Goldman Sachs, and Money. One of our TAF friend said,"if you need help, in any form,just let me know". No need to mention, what Chief has done for rescuing me.

I wouldn't expose their names here because their generous may attract crooks.

It was a brain washing experience for me-- I mostly don't bother things out of my window but they feel bothered, they opened their arms and resources for me when I was in difficulties.

Although I didn't take those nice people's offers except prayers, but I gained a priceless lesson-- There are people feel bothered, so, we have a TAF thread, so, I didn't feel hopeless in darkness alone, so on and on...

Thanks to Chief! Thanks to those that cares!
Sometimes may care too much, sometimes may cause misunderstanding. But, Thanks!