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  • #635,621
  • Apr 28, 2012 6:00pm Apr 28, 2012 6:00pm
How brutal the forex market is? , only those who lost in it many times know, or even one time ( bigger money involved ).

I heard that good traders have gone through it few times a least. Is it true?


( Just had another margin call )
Create your future with MOON SHOT
  • #635,622
  • Apr 28, 2012 6:19pm Apr 28, 2012 6:19pm
Quoting turboonostri
How brutal the forex market is? , only those who lost in it many times know, or even one time ( bigger money involved ).

I heard that good traders have gone through it few times a least. Is it true?


( Just had another margin call )


Yes..Shit happens!

Hopefully you learned how not to duplicate the MC buy overextending your acc. and use proper Money Management..It could be a good thing too, by not blowing your acc...

But, you can't win the game if you don't play..GL!
  • #635,623
  • Apr 28, 2012 7:04pm Apr 28, 2012 7:04pm
Quoting FXMindset
This is a reprint of an article written by Mark Mcrae

( am hope it would be useful but I think members still will keep repeating the mistakes again as always )

This article is a true story of how a friend of mine made a million dollars in 40 trades during a three month period. I should mention first that he did start with $100,000. I could have called this my Jerry Maguire moment. You know the movie with Tom Cruise where he decides to write a mission statement.

The reason being is that the subject of this little piece (I will call...
great learning from above
  • #635,624
  • Apr 28, 2012 7:25pm Apr 28, 2012 7:25pm
I have posted some charts and levels for coming days in my journal. Link is in my sig if anyone is interested in taking a glance..
  • #635,625
  • Apr 28, 2012 7:46pm Apr 28, 2012 7:46pm
Quoting turboonostri
How brutal the forex market is? , only those who lost in it many times know, or even one time ( bigger money involved ).

I heard that good traders have gone through it few times a least. Is it true?


( Just had another margin call )

Yea.........the issue isn't that people don't know how to trade a freaking chart usually. You will easily learn enough skill to trade "correctly" by the chart, and get a statistical edge after a couple blow outs.

You have to learn that even 20% return a year, in FX....is GOOD lol. As long as you never swung say 20% negative drawdown..(then it's mediocre to horrific.)

First hurdle: Cutting losers early and letting winners run by trailing stops, setting profit to break even. Once you do this, you cannot blow out your account in a few trades, it's statistically impossible. If you set a 5% loss max per trade, you'll have to lose 20 in a row to blow out. Not likely.

Second hurdle: Maintaining your edge over time and trading consistently.


The problem is the emotion and the risk management. You will start to look at winning rates unrealistically (not realizing if you won 80% of the time this week, the REAL level of risk you took on, so when your 80% win rate drops to say 50%, you are now underwater). That's really what kills people who make it over the first hurdle.

Forex is by far, easier to make money and lose money than equities. Equities most retailers just simply buy....they don't get margin accounts and go buy 100k of apple shares in a day and sell it off by 5pm. It's pure leverage that kills the average Forex trader.

I definitely am speaking from experience (if you follow my posts since 2009), and have A: scaled back expectations and trade less frequently and with lower leverage.

You may not like to hear it, but if you're returning 10% a week or more, I'll definitely want options on your default probability
  • #635,626
  • Apr 28, 2012 10:03pm Apr 28, 2012 10:03pm
http://www.forexfactory.com/attachme...5&d=1335643994
Tracking the Specialists.
  • #635,627
  • Apr 28, 2012 10:11pm Apr 28, 2012 10:11pm
Quoting Connected
http://www.forexfactory.com/attachme...5&d=1335643994
Attached Image
If you are new to Forex? Say Goodbye to your account!!
  • #635,628
  • Apr 28, 2012 11:18pm Apr 28, 2012 11:18pm
April 26th
bro open up clean chart eu put line 3223 & 3242 4hr be fine add tl,s if you want but this is mofu zone for me crossed reference it with swissy 9077 & 9100, throw a couple micros inside each zone sl above 42 and below 77 and we check in a week or two,s time, see how we do, try not to touch them set 75 pip trailings and forget them, outside these zones we will be history anyways
brit prs you know where they at

These zones are still valid although they have pierce the eu top of zone by 10-20 pips swissy bottom by same the zones are still valid
75 pip sl on swissy sits right on next major support, if it breaks zone is negated and the new support comes into play, 9002.
Can it happen? course it can, Will it happen ? I dont think so, Fridays pa was clearly BS manipulation going into the montly close, is always volatility there.
Attached clean swissy 4hr charts, add to this Mondays (weekly) and Tuesdays (monthly ) opens, and we have our trade zones.
Need her breach trade zone as posted, then 4hr descending tl red then daily descend tl red and bull train is on her way, buy yous ticket if yous want
This is longet term micro trades :nerd:


Happy Pip Hunting in May Peoples
Attached Image (click to enlarge)
Click to Enlarge Name: Swissy for May 29 4 2012.png Size: 45 KB
If you are new to Forex? Say Goodbye to your account!!
  • #635,629
  • Apr 28, 2012 11:31pm Apr 28, 2012 11:31pm
Quoting KiwiTrada
April 26th
bro open up clean chart eu put line 3223 & 3242 4hr be fine add tl,s if you want but this is mofu zone for me crossed reference it with swissy 9077 & 9100, throw a couple micros inside each zone sl above 42 and below 77 and we check in a week or two,s time, see how we do, try not to touch them set 75 pip trailings and forget them, outside these zones we will be history anyways
brit prs you know where they at

These zones are still valid although they have pierce the eu top of zone by 10-20 pips...
Hey very curious PA suggests a big move upcoming... there was a shakeout on Feb 23 but PA fell back and now is the second test of that shakeout.. def losing strength suggests maybe downtrend intact on daily. That or CHF setting up for large scale intervention?
  • #635,630
  • Apr 29, 2012 1:16am Apr 29, 2012 1:16am
Quoting mohan76
i don't know it's fall under load word from dutch (dutch era [1638 ~ 18xx] ) , it's mean letter, my language is Tamil.

Cable i had planed cut loss on pull back but as usual i fall sleep (now i use recliner as my overnight trading chair ) , it might open around 70 , my short is little heavy and my entry 47, i prefer to close trades before weekend.
Your language is Tamil, but you live in Melbourne?
Or do you really live in Sri Lanka?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #635,631
  • Apr 29, 2012 1:17am Apr 29, 2012 1:17am
Quoting Chicky
Not too many..................... Most of us here are just gamblers but unwilling to admit this fact.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #635,632
  • Apr 29, 2012 1:19am Apr 29, 2012 1:19am
Quoting FXMindset
This is a reprint of an article written by Mark Mcrae

( am hope it would be useful but I think members still will keep repeating the mistakes again as always )

This article is a true story of how a friend of mine made a million dollars in 40 trades during a three month period. I should mention first that he did start with $100,000. I could have called this my Jerry Maguire moment. You know the movie with Tom Cruise where he decides to write a mission statement.

The reason being is that the subject of this little piece (I will call...
This post is really too long to read.
Can you summarize it in 15 words for me please?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #635,633
  • Apr 29, 2012 1:21am Apr 29, 2012 1:21am
Quoting Chicky
Very informative. Thanks for sharing.
Yes very informative.
Thanks for sharing too.


But what are we actually sharing?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #635,634
  • Apr 29, 2012 1:24am Apr 29, 2012 1:24am
Quoting KiwiTrada
I love this picture.

Do you have a similar one for GBP crash?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #635,635
  • Apr 29, 2012 1:29am Apr 29, 2012 1:29am
I'm trying to reach George Soros.

We gotta stick together and in the next month we have to destroy the British Pound.
Down 1000 pips at least, where it belongs.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #635,636
  • Apr 29, 2012 1:31am Apr 29, 2012 1:31am
Quoting KiwiTrada

Tracking the Specialists.
  • #635,637
  • Apr 29, 2012 1:31am Apr 29, 2012 1:31am
Quoting KillerWhale
I'm trying to reach George Soros.

We gotta stick together and in the next month we have to destroy the British Pound.
Down 1000 pips at least, where it belongs.
Hmmm sounds good.
I have to try to get in there for $50 per pip.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #635,638
  • Apr 29, 2012 1:33am Apr 29, 2012 1:33am
Quoting Connected
Really?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #635,639
  • Apr 29, 2012 1:50am Apr 29, 2012 1:50am
Quoting KillerWhale
Really?
Tracking the Specialists.
  • #635,640
  • Apr 29, 2012 2:21am Apr 29, 2012 2:21am
Just got of the phone with Soros
New voice message: Why are you calling me? If I need you, I'll call you!
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