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  • #630,181
  • Apr 21, 2012 8:38am Apr 21, 2012 8:38am
Quoting HDA
@Daecpa:

First Things First

PKIMNYC: Is correct. CLOSE ALL YOUR TRADES.

I say this because - there is a lesson to be learnt here. Im not being hard on you, Im helping you. If you get badly burnt, the lesson sticks alot better. Save yourself the pain and frustration - psychological you are destroying your ability to think clearly holding on to those trades.
...

Always remember an essential part of trading is learning to take a loss
very correct, but as he is hedged the best for me is to wait until pair takes a clear trend. then he can slowly start to unleverage its account. he will lose some, but he may survive and save something also.
it needs skill, risk, and brain, and LUCK but can be done.

if he close now, with the pair with no trend that all traders loose pips, might be worst.
There shall be no QE3
  • #630,182
  • Apr 21, 2012 8:38am Apr 21, 2012 8:38am
Quoting mediaboy
Hi HDA,

I asked for you seven rules. Can you provide them? Very curious how your philosophy works
@Mediaboy:

Im not seeing any post of you asking me about the seven rules
  • #630,183
  • Apr 21, 2012 8:41am Apr 21, 2012 8:41am
I sent you a private message. Is this something you don't wish to share publicly? No worries my friend i understand if its not to be shared..
  • #630,184
  • Apr 21, 2012 8:46am Apr 21, 2012 8:46am
Quoting Helloguys
very correct, but as he is hedged the best for me is to wait until pair takes a clear trend. then he can slowly start to unleverage its account. he will lose some, but he may survive and save something also.
it needs skill, risk, and brain, and LUCK but can be done.

if he close now, with the pair with no trend that all traders loose pips, might be worst.
That is more or less what I plan to do, I have been in this position before and came out almost even twice, and took a big loose once. the way I handled it was, when there were no big news and the market within a range, was basing on stochastic 5 minutes timeframe, whenever it was on the bottom and lines crossed, bought, and the other way when it was on the opposite. It was just a small range of 7-10 pips and took me 3 days to get out of it.
If any one can show me the small resistances/supports from 1.2950 to 1.34(if that is the figure for the up move???) I could have a better plan to work it out
  • #630,185
  • Apr 21, 2012 8:49am Apr 21, 2012 8:49am
Quoting Helloguys
very correct, but as he is hedged the best for me is to wait until pair takes a clear trend. then he can slowly start to unleverage its account. he will lose some, but he may survive and save something also.
it needs skill, risk, and brain, and LUCK but can be done.

if he close now, with the pair with no trend that all traders loose pips, might be worst.
@Helloguys:

I fully understand the psychology of trading and he will not be helping himself to skillfully get out of this mess. If he knew what he was doing - he wouldnt be in this mess. If he tries his best to fix the problem - psychologically he will be thinking - That one was close and I guarantee he will do it again and again and again.

He must take the loss

This is how you grow

Remember this always " People Learn What They Choose To Learn How And When They Choose To Learn It " So no matter what we all say today, he will make his own decision and also learn from that decision wether it was the right decision or not.

Learning is a change in one's behaviour - if he gets away with it this time - thats a slap on the wrist - psychologically, he is going to try it again and hope to be alot careful next time and only end up in the same place he is now.

Again

" People Learn What They Choose To Learn How And When They Choose To Learn It "
  • #630,186
  • Apr 21, 2012 8:52am Apr 21, 2012 8:52am
Quoting HDA
@Helloguys:

I fully understand the psychology of trading and he will not be helping himself to skillfully get out of this mess. If he knew what he was doing - he wouldnt be in this mess. If he tries his best to fix the problem - psychologically he will be thinking - That one was close and I guarantee he will do it again and again and again.

He must take the loss

This is how you grow

Remember this always " People Learn What They Choose To Learn How And When They Choose To Learn It "...
thinking will not make u win money in forex, its the experience... you know that already... if u leave him to think now he will lose everything
When life gives you lemons, make lemonade
  • #630,187
  • Apr 21, 2012 8:53am Apr 21, 2012 8:53am
Quoting mediaboy
I sent you a private message. Is this something you don't wish to share publicly? No worries my friend i understand if its not to be shared..
@Mediaboy:

Please forgive me - I have 109 Pms - I have not read all of them as yet to respond. I have personal family issues dealing with with my dad and his illness. Im sorry for not getting back to you right away.
  • #630,188
  • Apr 21, 2012 8:56am Apr 21, 2012 8:56am
i'm still LONG until it reaches 1.3483... and will be shorting it around 1.35xx ...
  • #630,189
  • Apr 21, 2012 8:56am Apr 21, 2012 8:56am
Quoting micho
thinking will not make u win money in forex, its the experience... you know that already... if u leave him to think now he will lose everything
@Micho:

Correct and this is why I say - he should close all his trades - take the losses and start over - A valuable lesson would then have been learnt and I bet went he sees what's left in his account - he will not try so hard to get himself in such a position again.
  • #630,190
  • Apr 21, 2012 9:00am Apr 21, 2012 9:00am
Quoting ijan112
i'm still LONG until it reaches 1.3483... and will be shorting it around 1.35xx ...

lol . i would say

i'm still LONG if it reaches 1.3483... and will be shorting it around 1.35xx ...
There shall be no QE3
  • #630,191
  • Apr 21, 2012 9:01am Apr 21, 2012 9:01am
@Micho:

I hope to continue this conversation if you would like. I am running to take care of somethings for my dad so I have to go. Thanks for the engaging conversation.

Traders

HDA OUT

@PKIMNYC: Keep Up The Good Work
  • #630,192
  • Apr 21, 2012 9:02am Apr 21, 2012 9:02am
Quoting HDA
@Dzm1:

How's it going? Yes I am still Short
I'm short just like you, do you think I should cut now?
Place your bets!
  • #630,193
  • Apr 21, 2012 9:03am Apr 21, 2012 9:03am
Quoting HDA
@Mediaboy:

Please forgive me - I have 109 Pms - I have not read all of them as yet to respond. I have personal family issues dealing with with my dad and his illness. Im sorry for not getting back to you right away.

No worries ... Family first. FF should be last on your list of priorities.
I will be here when you get some free time.
  • #630,194
  • Apr 21, 2012 9:04am Apr 21, 2012 9:04am
Quoting HDA
@Micho:

Correct and this is why I say - he should close all his trades - take the losses and start over - A valuable lesson would then have been learnt and I bet went he sees what's left in his account - he will not try so hard to get himself in such a position again.
well i think he should just act as if there is no open trade... why close everything and lose alot of money... just work right from now and it starts with closing the longs at 1.3228 and trading normally after that taking only longs in case of signals
When life gives you lemons, make lemonade
  • #630,195
  • Apr 21, 2012 9:09am Apr 21, 2012 9:09am
Quoting micho
well i think he should just act as if there is no open trade... why close everything and lose alot of money... just work right from now and it starts with closing the longs at 1.3228 and trading normally after that taking only longs in case of signals
Micho, thanks for your idea, when you mention close the longs at 1.3228 i guess it is because 1.32300 is big resistance form your point of view?
  • #630,196
  • Apr 21, 2012 9:14am Apr 21, 2012 9:14am
Quoting daecpa
Micho, thanks for your idea, when you mention close the longs at 1.3228 i guess it is because 1.32300 is big resistance form your point of view?
well 1.3228 is not a big resistance but its the next target... you should take longs on coming signals in order to keep your account balanced but bare in mind that in case 1.3228 breaks you might not get possibility to go long at lower prices...

so technically 1.3228 is the next target with next target at 1.3377 but we can reverse anytime or not once we touch 1.3228
When life gives you lemons, make lemonade
  • #630,197
  • Apr 21, 2012 9:19am Apr 21, 2012 9:19am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance
I don't know what your trading style is but another way you might think about is not close the trades out right, but rather phase them out as the price moves..
  • #630,198
  • Apr 21, 2012 9:20am Apr 21, 2012 9:20am
Quoting HDA
@Helloguys:

I fully understand the psychology of trading and he will not be helping himself to skillfully get out of this mess. If he knew what he was doing - he wouldnt be in this mess. If he tries his best to fix the problem - psychologically he will be thinking - That one was close and I guarantee he will do it again and again and again.

He must take the loss

This is how you grow

Remember this always [b][color=red][u]" People Learn What They Choose To Learn How And When They Choose To Learn It...
maybe you are correct... anyway i have been in difficult position also and it was a lesson.

something last i want to say, is that new traders, you DO NOT HAVE TO RISK lot of money for trading.

i attach my statement to see that with 250euro deposit i had profit 1100euro in 2-3 weeks. statement is 100% true and i can send it to anyone the original file.

so you can make money, without having risk too much, you can have fun and learning, and best winning. and if you lose, you lose so few money, but you learn in the cheapest way.

if you are new to this dont deposit many money, because is not there the point!!
Attached Image (click to enlarge)
Click to Enlarge Name: ????? ?????.png Size: 73 KB
There shall be no QE3
  • #630,199
  • Apr 21, 2012 9:34am Apr 21, 2012 9:34am
if you backtest a Strategy do pivot points show correctly? How can that work? Confused
Tracking the Specialists.
  • #630,200
  • Apr 21, 2012 9:38am Apr 21, 2012 9:38am
maybe is not very right, to post a part of my statement, but i wanted to note, that to trade with lot of money is not important at least to my view.
and new traders have that illusion.
and this is the best way to start... with small accounts, and i never gonna trade with lot of money, is just meaning-less.

anyway if anyone found my post with the attachmenr frustrating it is ok with me. he might be right. my apology.
There shall be no QE3
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