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The life of a trading system on Forex Factory

  • #1,241
  • Apr 28, 2012 6:48pm Apr 28, 2012 6:48pm
Quoting the redlion
The problem is people's egos

"I am profitable, you are not, i am a good trader, i have the secret!!"

it's all bull shit!


TRADING IS DIFFICULT.
  • #1,242
  • Apr 28, 2012 6:49pm Apr 28, 2012 6:49pm
Quoting ha-pattern
Dude, no, Pipmutt's got a really good observation.
I know I'm not the one to say it:
There's several threads where the trader runs up the account, cashes in, and repeats.
It's gotta be something evolutionary, or built into people, an internal set point that causes this version of trading.
Only you're not letting go and accepting and building on what you can do, which is more than a lot of people including me.

Of course, your way of trading may be integrally tied into the rest of your success in life, in which case whatever.

not cashing in unfortunately, blowing it $100 to $400 in say 2months and back to $100 area inside of a few hours, when the market just won't change direction and you dig in and keep getting more.

It's pretty much my last issue to solve.

As said I trade more for a hobby than the money, until recently, but times are hard so it's there as a fall back and likely going into use soon.

I used to blow $100 back to Margin ( $150 - $50 ) inside of a few hours many many years back so it's all good, then back to demo and repeat.

Going to whack the account upto $1000 soon and just ignore that entire mental block $400 area
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,243
  • Apr 28, 2012 6:52pm Apr 28, 2012 6:52pm
Quoting Turveyd
WEIRDO ALERT!!!

Invent a time machine, go back invest in Microsoft then take that out and go Apple, but that's likely harder than just trading so maybe not.

LOL...I will go on record... BUY INTEL.... come back in a year and you will thank me profusely.

Red your a smart cookie. But sometimes a guy can be tooo smart.

No time machine needs to be invented boys if that was the case why trade any instrument ?
Master your Mind,,,Master the Market
  • #1,244
  • Apr 28, 2012 6:55pm Apr 28, 2012 6:55pm
Quoting the redlion
surely you cannot be serious all in on intel?

ever heard of tangency porfolio or efficient portfolio frontier?

although the beta, p/e and EPS as well as technically it looks attractive you do not want to go all in you have to remember it is still a stock and is subject to systemic risk there is still a correlation with the broad market movement even if the beta is <1.

you have to compute the Cost of equity

100% serious.. Turveyd obviously goes all in with his averaging down.

So who would I rather go all in on.. Turveyed or Intel..very simple Intel will pump him money out this yr whereas Turveyd trading will not..
Master your Mind,,,Master the Market
  • #1,245
  • Apr 28, 2012 6:57pm Apr 28, 2012 6:57pm
Quoting bluesteele
LOL...I will go on record... BUY INTEL.... come back in a year and you will thank me profusely.

Red your a smart cookie. But sometimes a guy can be tooo smart.

No time machine needs to be invented boys if that was the case why trade any instrument ?

Sitting at the 4 year high or maybe double top from then, in a uptrend though so chance, but really don't see it hitting 40 unless it's got something new up it's sleeve in the next few years.

I'll stick to forex these days, needs less start capital than stocks and much much less chart work and no running stock screens.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,246
  • Apr 28, 2012 6:59pm Apr 28, 2012 6:59pm
Quoting Turveyd

Yes ive went from near 400 back to 100, its a pyscological barrier where i simply try to hard.
Refusing to accept risk and take a loss isn't 'simply trying too hard', it's a total lack of understanding about trading. Willing yourself not to recklessly gamble or avoid a margin call isn't a solution. That's where you need to start, by addressing those issues rather than having a pipe dream about drawing 2k a month off a 1k account, it simply ain't gonna happen if you continue on the same path you've been on for the past 7 years! Sorry to burst your little bubble but it's probably better to accept that sooner rather than later.


Quoting Turveyd

But sharing a trade exerience to demonstrate how trading is a bitch at times isnt a reason to make personal attacks!
I've never said anything against you personally, why would I, I don't even know you. My comments are directly related to what you're doing, and what you believe yourself to be, an 'ace' trader. If that's what you've convinced yourself you are then you're deluding yourself, that's obvious to anyone who is a trader.

Quoting Turveyd

You dont understand my method despite the simplicity / logicalness of it so i dont think your in any position to comment.
As I said, from what I can see (part of) your 'strategy' is to average losing positions. The fact that you've lost 75% of your account 9 times should really give you a clue about how effective that is.


Quoting Turveyd

Yes 7 years have passed from the start no big deal busy man i dont get much time to trade in the day when its worth trading.
That's fine, no one is finding fault with your perseverance or dedication to succeed, it takes some people decades to understand the concept of trading, some never achieve it. Unfortunately you can't solve issues because you don't recognise you have any issues, you think you're an ace trader who just needs more funds.
  • #1,247
  • Apr 28, 2012 6:59pm Apr 28, 2012 6:59pm
Quoting bluesteele
100% serious.. Turveyd obviously goes all in with his averaging down.

So who would I rather go all in on.. Turveyed or Intel..very simple Intel will pump him money out this yr whereas Turveyd trading will not..

All in, is not the plan, I have a defined set limit.

It's normally 1am, BORED going long on EurJpy over it's support, then 30 seconds later BANG and it dumps 200pips just as there market opens.

Not falling for that sucker again, even had it blow through SL's and stop me out so bad.

Trading, it's great!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,248
  • Apr 28, 2012 7:03pm Apr 28, 2012 7:03pm
Quoting bluesteele

LOL...I will go on record... BUY INTEL.... come back in a year and you will thank me profusely.
Or how about gold, it's my favorite right now!
  • #1,249
  • Apr 28, 2012 7:09pm Apr 28, 2012 7:09pm
Quoting pipmutt
Refusing to accept risk and take a loss isn't 'simply trying too hard', it's a total lack of understanding about trading. Willing yourself not to recklessly gamble or avoid a margin call isn't a solution. That's where you need to start, by addressing those issues rather than having a pipe dream about drawing 2k a month off a 1k account, it simply ain't gonna happen if you continue on the same path you've been on for the past 7 years! Sorry to burst your little bubble but it's probably better to accept that sooner
rather than later.

Obviously I have accepted I have an issue there and have been 100% honest about it, errrrmmmm I told you about it on here, it's solveable I just have to stop trying to win every trade and moving SL's, which is what I'm currently working toways, ofcourse this week no losers to work on that, typically! lose damn it!!

Averaging down, is part of my strategy, call it leveraging in and is hugely responsible for the huge gains I've been making, I generally run a 40SL, get a 2nd postion at -20 with the same SL, ie -20, total cost -60pips if SL hit, I win 80% area and generally more than 60pips if I get the 2nd position, think 40 single position, it works well with my strategy, you should try it seriously. I do a 60, 40, 20 total cost 120pips aswell at times when required.

Averaging down beyond that is doomed ofcourse.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,250
  • Apr 28, 2012 7:11pm Apr 28, 2012 7:11pm
Quoting pipmutt



I've never said anything against you personally, why would I, I don't even know you. My comments are directly related to what you're doing, and what you believe yourself to be, an 'ace' trader. If that's what you've convinced yourself you are then you're deluding yourself, that's obvious to anyone who is a trader.
Previous joke from ages back, think HOLE!! LOL

But yet again, I'm 1 of the few traders in profit over the last 12months!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,251
  • Apr 28, 2012 7:14pm Apr 28, 2012 7:14pm
Quoting pipmutt
Or how about gold, it's my favorite right now!
weekly has confirmed a move to monthly top, not great signal... wouldn't bet against 1695... if I was a swinger that would be my first target
tradewith60
  • #1,252
  • Apr 28, 2012 7:15pm Apr 28, 2012 7:15pm
Quoting pipmutt

That's fine, no one is finding fault with your perseverance or dedication to succeed, it takes some people decades to understand the concept of trading, some never achieve it. Unfortunately you can't solve issues because you don't recognise you have any issues, you think you're an ace trader who just needs more funds.

No I need more funds, to make trading worth my time cause when trading I'm not working but work is slow anyway currently so got a bit more time, might change next week to no time at all.

Also to get to my back 50% wage goal, if business goes slow which is looking likely.

I'm human, we all have issues, I'm sure you have to, I doubt very very much your profitable like 99% of the people on here, I'm just honest unlike 60mm and others, if you don't like it, click ignore.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,253
  • Apr 28, 2012 7:18pm Apr 28, 2012 7:18pm
Quoting 60minuteman
weekly has confirmed a move to monthly top, not great signal... wouldn't bet against 1695... if I was a swinger that would be my first target

Need to break 1672 to break into a uptrend is my take, short near.

Not that I play that way, currently in a uptrend for the last 2 1/2 days, but had a 2 week downtrend before that so wouldn't read to much into it.

Long on pull back, I do trade and like Gold!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,254
  • Apr 28, 2012 7:18pm Apr 28, 2012 7:18pm
Quoting ha-pattern

Only you're not letting go and accepting and building on what you can do
Right, building on strengths and compensating for weaknesses.

I think the problem with Turveyd's strategy is it's an illusion. He makes trades, averages when price goes against him, the trade eventually comes right and he makes money. Great, what a trader, he probably has a good run, makes ~300% and everything looks fantastic. The inevitable happens and price keeps going against him, he eventually closes and loses 75%. Then makes 300% back to $400, then loses 75%, then makes 300% etc etc etc

Any fool can average and hope for the best, there are strategies like that in the trading systems forum. Most of them make exceptionally small trades compared to equity so they can withstand large drawdown, it's farcical to watch!
  • #1,255
  • Apr 28, 2012 7:22pm Apr 28, 2012 7:22pm
Quoting Turveyd
Averaging down,
Averaging down beyond that is doomed ofcourse.
Averaging down works in stocks if your going to buy and hold. It does not work in forex.

If your trades mostly go negative from the get go you need to seriously improve your entries.
Mark ... Everything you have been told is a LIE
  • #1,256
  • Apr 28, 2012 7:22pm Apr 28, 2012 7:22pm
Quoting 60minuteman

weekly has confirmed a move to monthly top, not great signal... wouldn't bet against 1695... if I was a swinger that would be my first target
Long term investment, looking for 3000!

Central banks I think are going to help but I guess only time will tell as always!

Yeah I know, crazy like a fox......
  • #1,257
  • Apr 28, 2012 7:22pm Apr 28, 2012 7:22pm
Quoting pipmutt
Right, building on strengths and compensating for weaknesses.

I think the problem with Turveyd's strategy is it's an illusion. He makes trades, averages when price goes against him, the trade eventually comes right and he makes money. Great, what a trader, he probably has a good run, makes ~300% and everything looks fantastic. The inevitable happens and price keeps going against him, he eventually closes and loses 75%. Then makes 300% back to $400, then loses 75%, then makes 300% etc etc etc

Any fool can average and hope for the best, there are...

dude, it's an extreme example I do maybe once per year, think your reading way to much into it.

Read above, I have a strategy I don't go if I stick to the plan, beyond -60 , -40 , -20, my average profit exceeds my average loss by 30% area and I'm trading at a 80% win rate.

I occassionly have a bad day, we all do, generally when tired and stressed and bored and messing around for kicks, no biggy!! tis a HOBBY!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,258
  • Apr 28, 2012 7:26pm Apr 28, 2012 7:26pm
Quoting spzd
Averaging down works in stocks if your going to buy and hold. It does not work in forex.

If your trades mostly go negative from the get go you need to seriously improve your entries.

The issue is, I'm going long in a uptrend on a pull back, the pull back might go another 20pips there is no way to predict this, so I take advantage of this, at times If I was to wait for lower I wouldn't get a 1st fill and I'd miss moves, so I'd dumped the illusion of accuracy.

So I just take the trade with less stress as long as I think my SL level won't be hit I let it run and set the orders to average down.

honestly best strategy you can use, no 1 does cause it's classed as against the rules, for just 1 reason, they don't want you to make money.

Seriously do some research build it into your plan.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,259
  • Apr 28, 2012 7:30pm Apr 28, 2012 7:30pm
Swinger someone say Swinger....Yeah baby ! Blue loves all sorts of swingin' !

LOL


Gold .I love gold.

Especially that hot little goldylox chick.

Seriously gold is a staple in my trading diet.

Like everything about it.

Turved Spzd is right. Averaging down does not work you should work on your entries. Isnt that obvious?
Master your Mind,,,Master the Market
  • #1,260
  • Apr 28, 2012 7:32pm Apr 28, 2012 7:32pm
Quoting pipmutt
Long term investment, looking for 3000!

Central banks I think are going to help but I guess only time will tell as always!

Yeah I know, crazy like a fox......
Not crazy at all... rabid maybe?

fook knows about those sort of targets... 1695 next possible stopper...
tradewith60
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