lol everyone is short...looks like im the only 1idiot looking for a long setup 
There are two opinions in this world, Mine and the wrong one...
- #646,283
- May 22, 2012 11:49pm May 22, 2012 11:49pm
- | Joined Feb 2008 | Status: Suffering from Casandra syndrome | 1,384 Posts
lol everyone is short...looks like im the only 1idiot looking for a long setup
- #646,284
- May 22, 2012 11:50pm May 22, 2012 11:50pm
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
I dont. How do you calculate the RISK??? explain. how do you get those 1%
its imposiblle to calculate risk and get the exact number.
1% haha why not 0.1%
Here it is.
1. The difference between 60% winning ratio and 6 winners out of every 10 trades is the quality of trade. If 40 out of 100 trades are losers, every trade takes a risk of 1% and these trades are your first 40, one would lose 40% of the account balance, just enough to keep the account floating and no significant damage to the operating capacity. The maximum drawdown with this winning ratio would average 40%. Whereas 6 out of every 10 trades with 1% risk per trade means, maximum drawdown would never exceed more than 4%. One gets the same results with minimum draw down.
2. Check the following charts, The Dome like support and resistances (Eastern Architecture) are more tradeable if not reliable than V or inverted V spike like support/resistances (Western Architecture). They also give ample time to enter into a trade. All green lines are the winning trades and all red lines are the losing trades with 1% risk and 1% reward. Trades taken at the lines. Don't confuse red ones with shorts and green ones with longs. The colors show winning or losing trades and not the direction of the trade.
That's all folks.
Thanks for your patience.
The Thief of Wall Street
- #646,286
- May 22, 2012 11:51pm May 22, 2012 11:51pm
- | Joined Apr 2012 | Status: Trader | 1,066 Posts
Roger that
price refused to go lower...1.26650 bounced it up
break of 1.68ish will get us up to test 1.273xx
Do they feel like pressing buy or sell?
- #646,287
- May 22, 2012 11:52pm May 22, 2012 11:52pm
- | Joined Feb 2008 | Status: Suffering from Casandra syndrome | 1,384 Posts
- #646,289
- May 22, 2012 11:53pm May 22, 2012 11:53pm
- | Commercial User | Joined Sep 2005 | 2,784 Posts
Can't be too sure of anything anymore. Remember the great battle of 72? Quite a few casualties there.
price testing 770 and getting some kicks
There are two opinions in this world, Mine and the wrong one...
- #646,295
- May 22, 2012 11:59pm May 22, 2012 11:59pm
- | Commercial User | Joined Sep 2005 | 2,784 Posts
Looking at that chart I can not think of any reasons going short right now.
- #646,296
- May 22, 2012 11:59pm May 22, 2012 11:59pm
- Joined Apr 2011 | Status: Liverpool's KOP | 8,022 Posts
Long is on the cards atm...was suppose to fall 30min ago but got rejected...will break upside and on to test 1.273xx
market may wanna wait for news about EU summit today
Patience, Emotion Control and Discipline.
- #646,297
- May 22, 2012 11:59pm May 22, 2012 11:59pm
- | Joined Apr 2012 | Status: Trader | 1,066 Posts
Revenge is the best served cold...
price testing 770 and getting some kicks
- #646,298
- May 22, 2012 11:59pm May 22, 2012 11:59pm
- | Joined Feb 2008 | Status: Suffering from Casandra syndrome | 1,384 Posts
Yes 1%........................ no 2% or .1% or 1.32% or any other percent.......... and this is not just a rule of thumb or because many follow this. I have my own research and logic.
Here it is.
1. The difference between 60% winning ratio and 6 winners out of every 10 trades is the quality of trade. If 40 out of 100 trades are losers, every trade takes a risk of 1% and these trades are your first 40, one would lose 40% of the account balance, just enough to keep the account floating and no significant damage to the operating capacity. The...
Thank you Chicky! I'll be re-reading this post in the morning. Must say, this was a rare gem indeed
- #646,300
- May 23, 2012 12:01am May 23, 2012 12:01am
- | Joined Dec 2009 | Status: Bear | 1,009 Posts
Mmmm.. that's ok