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  • #630,341
  • Edited 4:21pm Apr 21, 2012 3:59pm | Edited 4:21pm
Quoting KillerWhale
These are the posts that I completely DO NOT understand.
If you are talking about 60 pips in the negative and in the same sentence you use the word Margin Call, then I know 1 thing 100% sure:

OVER LEVERAGED
Food for Thought.

Few months ago, I gave a very controversal vouch to a completely useless poster here. That one vouch given costed me some very important vouches.

Now why I gave that vouch to that bastard? Because he brought to everybody's attention one most important thing many ignore and that is directly related with position size, margin calls and spikes. Based on that post, I changed the way I operate in this market and for good.

1. I do not like to keep idle funds with my broker. Therefore transfer money for one trade only. If that trade is for 100 pip profit and 40 pip sl, I would transfer just enough to get a margin call 40 pips away from my entry.

2. Margin call with a leverage of 1:10 and margin call with a leverage of 1:400 are two totally different things. All it matters is how much % of account would be left after the margin call. In fact, Jesse Livermore appreciated the Margin Call tool as it let's a trader setting a disater stop in addition to regular stoploss.

3. In some situations it is good to remove stoploss to avoid getting caught in a spike. Again one has to manage the account balance to set margin call at an acceptable risk level.

It all depends how one is trading.
The Thief of Wall Street
  • #630,342
  • Apr 21, 2012 3:59pm Apr 21, 2012 3:59pm
Quoting Razvan
Why? Because females are better cleaners? Chauvinist pig..
Whom would you hire, or prefer to see rather...? Naked chicks or naked sausage pigs? Assuming you are a male.
  • #630,343
  • Apr 21, 2012 3:59pm Apr 21, 2012 3:59pm
Quoting hlina9
Have anybody idea on monday fundaments ..i am long and aiming to 260 and sell(266)there for 120-130 ... Want to keep sorts til wednesday and than go long(From 098)...
Why wednesday? Everybody knows when it comes to shorting thusday is best (1929?)...

Why make plans for such long terms (unless you're long TF and have fundamentals; still...how do you know levels will be hit wendsday? Any news on wendsday that you know will change the trend?)

Just watch the charts and price, you stand way better chance then randomly deciding you're going long on wednesday.
  • #630,344
  • Apr 21, 2012 4:00pm Apr 21, 2012 4:00pm
Quoting Razvan
Why not scalp into profit after you've closed your trades? Isn't that the same? (or this is actually what you wanted to say?)


Or scalp into profit on a demo account first...just to make sure you can do it?
I was talking about closing longs when price is too high and vice versa.
It's lots of work, but an experience never to be forgotten.

After all, a D1 bar may be, say, 80 pips long, but there are often hundreds of pips to be made on it
  • #630,345
  • Apr 21, 2012 4:03pm Apr 21, 2012 4:03pm
Quoting KillerWhale
These are the posts that I completely DO NOT understand.
If you are talking about 60 pips in the negative and in the same sentence you use the word Margin Call, then I know 1 thing 100% sure:

OVER LEVERAGED
Veery good observation
  • #630,346
  • Apr 21, 2012 4:07pm Apr 21, 2012 4:07pm
Quoting Ifmyante
I was talking about closing longs when price is too high and vice versa.
It's lots of work, but an experience never to be forgotten.

After all, a D1 bar may be, say, 80 pips long, but there are often hundreds of pips to be made on it
If he would be capable of getting 50% gains (or how much does he need to be? more?) in that short time not based on luck he would be a billionaire by now.

His problem is that he's incapable of consistent gains (apart from the fact that it's obvious he has no business trading live accounts, at his level of knowledge). What you're asking him is at a completly different level.

First you get consistent gains, then you figure out how to catch every single pip in a day.
  • #630,347
  • Apr 21, 2012 4:09pm Apr 21, 2012 4:09pm
Quoting Razvan
Why? Because females are better cleaners? Chauvinist pig..
Females are better cleaners that's for sure.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #630,348
  • Apr 21, 2012 4:10pm Apr 21, 2012 4:10pm
Quoting Razvan
Why wednesday? Everybody knows when it comes to shorting thusday is best (1929?)...

Why make plans for such long terms (unless you're long TF and have fundamentals; still...how do you know levels will be hit wendsday? Any news on wendsday that you know will change the trend?)

Just watch the charts and price, you stand way better chance then randomly deciding you're going long on wednesday.
I would like to be short on monday after news from eu til Fomc
  • #630,349
  • Apr 21, 2012 4:11pm Apr 21, 2012 4:11pm
Quoting Razvan
If he would be capable of getting 50% gains (or how much does he need to be? more?) in that short time not based on luck he would be a billionaire by now.

His problem is that he's incapable of consistent gains (apart from the fact that it's obvious he has no business trading live accounts, at his level of knowledge). What you're asking him is at a completly different level.

First you get consistent gains, then you figure out how to catch every single pip in a day.
No argument from me mate.

I had ruled out the option of scalping it back. There is, as you say, much to be mastered first
  • #630,350
  • Apr 21, 2012 4:11pm Apr 21, 2012 4:11pm
Quoting Razvan
Just watch the charts and price, you stand way better chance then randomly deciding you're going long on wednesday.
I think I'll go sideways on Wednesday
New voice message: Why are you calling me? If I need you, I'll call you!
  • #630,351
  • Apr 21, 2012 4:11pm Apr 21, 2012 4:11pm
Quoting KillerWhale
Females are better cleaners that's for sure.
Maybe he's a monk... If not she...
  • #630,352
  • Apr 21, 2012 4:11pm Apr 21, 2012 4:11pm
Quoting KillerWhale
I think I'll go sideways on Wednesday
Or maybe backwards.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #630,353
  • Apr 21, 2012 4:13pm Apr 21, 2012 4:13pm
I'm doing research now. In an hour or so I will have the exact end of week closing price for EU for week 16
New voice message: Why are you calling me? If I need you, I'll call you!
  • #630,354
  • Apr 21, 2012 4:15pm Apr 21, 2012 4:15pm
Quoting hlina9
Have anybody idea on monday fundaments ..i am long and aiming to 260 (high 271)and sell(266)there for 120-130 ... Want to keep sorts til wednesday and than go long(From 098)...(low 098 and 071)
I am a bit confused. You mentioned your trading plan for the week as if you know exactly how pa is going to move but at the same time you are asking what would be the "Monday Fundamentals"....................
The Thief of Wall Street
  • #630,355
  • Apr 21, 2012 4:17pm Apr 21, 2012 4:17pm
Quoting Ifmyante
No argument from me mate.

I had ruled out the option of scalping it back. There is, as you say, much to be mastered first
Yeah...

He is in a position, scared, unable to make a decision. His better judgement is telling him to close the trades like he should of done long ago, but on the other hand he is still hoping to make it back...doesn't want to take the loss.

So he comes here to ask people what to do: but he doesn't really want to know what's the right thing to do...he needs confirmation(EUR/USD thread is the biggest circle jerk i've seen), somebody needs to tell him that he'll be alright. He doesn't need people telling him to close the account or go back learning on demo.

Addendum: I think alot of people come on this thread when they are unsure about their decision to give eachother pats on the back while margin call creeps closer and closer
  • #630,356
  • Apr 21, 2012 4:18pm Apr 21, 2012 4:18pm
Quoting KillerWhale
There is a company in Texas where you can hire NAKED mess cleaners.

No touching allowed though
What's the point then?!

Like driving a Ferrari... with empty fuel tank...
  • #630,357
  • Apr 21, 2012 4:20pm Apr 21, 2012 4:20pm
Quoting Chicky
I am a bit confused. You mentioned your trading plan for the week as if you know exactly how pa is going to move but at the same time you are asking what would be the "Monday Fundamentals"....................
Short term it's harder to figure out then long term. I for one...know for sure that in 100 years i'll be dead...but what i'll have for breakfast tomorow...now that's a mystery.
  • #630,358
  • Apr 21, 2012 4:20pm Apr 21, 2012 4:20pm
Quoting Leeson
What's the point then?!

Like driving a Ferrari... with empty fuel tank...
To get your house cleaned
New voice message: Why are you calling me? If I need you, I'll call you!
  • #630,359
  • Apr 21, 2012 4:21pm Apr 21, 2012 4:21pm
Quoting Chicky
I am a bit confused. You mentioned your trading plan for the week as if you know exactly how pa is going to move but at the same time you are asking what would be the "Monday Fundamentals"....................
So might it be so that after open we will be pushed to 260 area...thats just my gues or plan or haw to call it.. But eu news might slide it down back to 200 area and tuesday more down and reverse on wednesday ... Just gues and dont take me serious i am just how do you call it here noob...or so ...wath does it mean actualy ..newbie..or? And also wath is PA ...i know stupid questins but...Thx mutch
  • #630,360
  • Apr 21, 2012 4:21pm Apr 21, 2012 4:21pm
Quoting KillerWhale
To get your house cleaned
Oh... Now you say...
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