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GBP/JPY Scalpers

  • #121
  • May 21, 2012 9:38am May 21, 2012 9:38am
it is not ABOUT BEING RIGHT OR WRONG. Why are so many people hell bent on being right? We are all here as part of a correction process, like it or not, believe it or not, We are! Life is not about what you collect, it is about HOW you treat people, and the relationships you build. Money is nothing more than a tool, just like a shovel for planting flowers, it is a tool.

It is an action reaction world, again like it or not, believe it or not, that is HOW it is. And it is what it IS, not what you say it is. If You say the the sun is yellow, you are wrong, the sun is GREEN, but do you think this really matters much? SO did you NOT know the sun was green? It appears green to the human eye, but you can also argue that actually the sun is all colors, but it sure is NOT yellow or orange.

So are you ready to put down those rose colored glasses and look at things as they ARE, the perception of the viewer doe not change an OBJECT viewed by the observer.
  • #122
  • May 21, 2012 1:48pm May 21, 2012 1:48pm
Quoting rmrf
it is not ABOUT BEING RIGHT OR WRONG. Why are so many people hell bent on being right? We are all here as part of a correction process, like it or not, believe it or not, We are! Life is not about what you collect, it is about HOW you treat people, and the relationships you build. Money is nothing more than a tool, just like a shovel for planting flowers, it is a tool.

It is an action reaction world, again like it or not, believe it or not, that is HOW it is. And it is what it IS, not what you say it is. If You say the the sun is yellow,...
There is some truth to your statement, if we were in the business of life coaching, But this is trading, in trading it is about being right and wrong, because when you are right you make money and if you are wrong you lose money. Now if you want to preach about life then that's a different story.

Money is not everything true statement, there is more to life than money, But its doesn't mean yo have to squander your money away just to prove a point. Your statements contradict your actions, you claim that relationships are more important than money, when you can't even have a civil relationship with other people in this thread who question your decisions, if you cannot have a good relationship with people in this thread I cannot assume to believe that you do have good relationships in real life.

This is what makes you as a person intriguing to me, you invest over 100G's to this market and claim to be so good, and when you're loosing money you do not want to accept defeat so you, hold on to lost trades hoping on the market to reverse. When you started you were so arrogant about your trading and when the market was going you're way you claim to be the greatest trader making pips, but it fell short, now your the good guy proclaiming the secrets to life and money.

No matter what you say, I know for a fact that losing such an amount of money is devastating, but you're on the right track, I too was in that same boat. I was successful, I was arrogant, and I too lost hundreds of thousands of dollars, it humbled me, it it will do the same to you too.
  • #123
  • May 24, 2012 12:35pm May 24, 2012 12:35pm
Quoting rmrf
ARE YOU THAT IGNORANT? I still have a larger balance that my deposits, yes I have drawdown, yes I closed a few fat ones for a loss, but I STILL have NOT lost more than I deposited, all is well, drawdown does NOT = a REALIZED loss
So what is your plan for if the price carries on down hundreds of pips? When are you planning on closing out for a massive massive loss? Or are you just hoping and praying for a reversal? It may or may not come on time. Do you just hold tight until margin call comes? You must have a plan for this possibility, surely.
  • #124
  • May 29, 2012 11:29am May 29, 2012 11:29am
Quoting rmrf
to zero if need be, collecting small daily interest all the way to the bank, equity continues to build UNLIKE my RE investments
Why did you close some of your lost postions but not all? Are you in survival mode?

How many more pips before margin call hits?
  • #125
  • May 29, 2012 12:46pm May 29, 2012 12:46pm
Why must I never give up? I took a few spanks for sure. and am down almost 20% (of total deposits), and drawdown is significant, so I am sqring up a few fat ones I shouldn't have had, to realize some losses and regain some margin, and to prevent being sold out. I would have added $ to my losing position but have far too many other obligations much more pressing.

We dont appear to have hit bottom yet as sad as it seems even now wrenching down into 123's eek!
  • #126
  • May 29, 2012 1:15pm May 29, 2012 1:15pm
Quoting rmrf
Why must I never give up? I took a few spanks for sure. and am down almost 20% (of total deposits), and drawdown is significant, so I am sqring up a few fat ones I shouldn't have had, to realize some losses and regain some margin, and to prevent being sold out. I would have added $ to my losing position but have far too many other obligations much more pressing.

We dont appear to have hit bottom yet as sad as it seems even now wrenching down into 123's eek!
capital suicide man
  • #127
  • May 29, 2012 4:01pm May 29, 2012 4:01pm
Quoting mrroboto
Are you in survival mode?
Pretty much so, since I cannot and will not sit here and babysit this position. I am only holding gbp/jpy long.
  • #128
  • May 29, 2012 4:15pm May 29, 2012 4:15pm
Quoting rmrf
Pretty much so, since I cannot and will not sit here and babysit this position. I am only holding gbp/jpy long.
Bottom might be around 123.50-123.00 hopefully it bounces to around 127.50 try to exit at that area, to minimize losses.
  • #129
  • May 30, 2012 5:15pm May 30, 2012 5:15pm
Still bearish, I think the better strategy was to let your account margin call rather than giving it all away. Slowly killing your account to zero is the worst plan in my opinion. Save as much equity as you can.
  • #130
  • May 30, 2012 5:55pm May 30, 2012 5:55pm
Let us know when you call it quits, cause that will be the day of the bottom for sure!



PS: I am pretty sure that "scalpers" in the thread title is wrong description

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It takes a lot for me to IGNORE you, but you can try.
  • #131
  • May 30, 2012 11:01pm May 30, 2012 11:01pm
still hoping for new lows like sub 118, at this point its all wasted.

Quoting Erebus
Let us know when you call it quits, cause that will be the day of the bottom for sure!



PS: I am pretty sure that "scalpers" in the thread title is wrong description

  • #132
  • May 30, 2012 11:02pm May 30, 2012 11:02pm
Quoting Erebus
Let us know when you call it quits, cause that will be the day of the bottom for sure!
that may very well be the day to grab some longs!!!
  • #133
  • May 30, 2012 11:08pm May 30, 2012 11:08pm
you know it! 121.80 hurts bad, but its all good, I've found two new gems!!!
  • #134
  • May 30, 2012 11:43pm May 30, 2012 11:43pm
Quoting rmrf
that may very well be the day to grab some longs!!!

In the beginning of your thread, you mentioned something about being a "scalper"... but i see you've closed some positions recently for well over 100 pip losses, and some that were over 500 pips.

I can tell you right now that unless you start putting in an automatic stop loss to stop you out at no more than 20 pips... you will never be able to make an income at this, at the way your going about it.

I'm also going to speculate that if I were to suggest you just trade daily charts and above, you're likely to respond that the daily charts are too slow, or why should you trade daily charts when you can make 50 pips in 10 minutes as a "scalper"... or something to that effect.

But, I highly doubt you would respond back by saying "the daily charts are simply unprofitable time frames... and therefore trading the daily charts would just simple prevent you from ever making a profit"

And, i would then speculate that your real goal is not to make a profit, but to experience "action" or a "fast paced environment" or "to have a fantasy about making lots of pips/money really quickly"

And, finally, I would say to you congratulations on your success! It seems you are getting exactly what you are trading for - action, quick movements, and a very stimulating idea of that as soon as the market moves as you think, your really gonna "cash in".

If you can somehow tell me how trading just levels and price action that shows on the daily charts...would somehow be less profitable than what you are currently doing... I'd like to hear that.

X
  • #135
  • May 30, 2012 11:54pm May 30, 2012 11:54pm
Quoting forextraderx
In the beginning of your thread, you mentioned something about being a "scalper"... but i see you've closed some positions recently for well over 100 pip losses, and some that were over 500 pips.

I can tell you right now that unless you start putting in an automatic stop loss to stop you out at no more than 20 pips... you will never be able to make an income at this, at the way your going about it.

I'm also going to speculate that if I were to suggest you just trade daily charts and above, you're likely to respond that the daily charts...
BRAVO, some very good advice there, and in that spirit, I suggest that you follow this recently opened thread -

$2,000 to $2,000,000... no time limit

The trades are on Daily charts, longer term, and you have a great track record of being able to hang on to a trade!

It takes a lot for me to IGNORE you, but you can try.
  • #136
  • May 31, 2012 12:05am May 31, 2012 12:05am
Quoting Erebus
BRAVO, some very good advice there, and in that spirit, I suggest that you follow this recently opened thread -

$2,000 to $2,000,000... no time limit

The trades are on Daily charts, longer term, and you have a great track record of being able to hang on to a trade!

You know, that's actually a really good point about being able to hold onto trades. See, for myself when i'm day trading (which is how I trade the forex markets)... I really can't hold onto a profit OR a loss very well. I take profits quick, usually making no more than 10-60 pips at a time.

but I also take losses quick... even when I set a stop at, say, 100 pips... and 0.5% risk, I just can't sit that long with a loss.... it is very distracting.

But, to the OP, you obviously don't have this as an issue. For you, it may be a very good idea to relax a bit about the whole trading thing, and view it as a very boring way to slowly make some money you can use in 10 years. It may work better than that...but, if that's how you view it, and STILL are willing to do it... you will possibly find some great success trading daily charts and higher.

Just something to consider.
  • #137
  • May 31, 2012 12:46am May 31, 2012 12:46am
Quoting forextraderx
In the beginning of your thread, you mentioned something about being a "scalper"... but i see you've closed some positions recently for well over 100 pip losses, and some that were over 500 pips.

I can tell you right now that unless you start putting in an automatic stop loss to stop you out at no more than 20 pips... you will never be able to make an income at this, at the way your going about it.

I'm also going to speculate that if I were to suggest you just trade daily charts and above, you're likely to respond that the daily charts...
Believe me they guy has been in so much stress and anxiety already. Losing trades are a part of a traders right to passage. Let him make the mistakes he wants to commit so he can learn from it. Experience is the best teacher, no advice will sway this guy into doing the right thing which is to cut losses and start fresh.

Dont worry, because after this expensive lesson this trader will either learn from it or commit it again until he learns his lesson.

I'm just here for the show, enjoy it while its still live.
  • #138
  • May 31, 2012 12:58am May 31, 2012 12:58am
Quoting mrroboto
Believe me they guy has been in so much stress and anxiety already. Losing trades are a part of a traders right to passage. Let him make the mistakes he wants to commit so he can learn from it. Experience is the best teacher, no advice will sway this guy into doing the right thing which is to cut losses and start fresh.

Dont worry, because after this expensive lesson this trader will either learn from it or commit it again until he learns his lesson.

I'm just here for the show, enjoy it while its still live.
while losing trades are indeed a traders right to passage (i guess i'm still "passing" then, btw)... I don't expect him to change much of anything NOW...but, if he considers what was written for the last couple posts, and after he burns out now, he may, in his own time, be better equipped to allow some of the better suggestions listed in this thread or that he's seen elsewhere make an impression on what his decisions to act are based around... next time he decides to trade.


I would be absolutly shocked if such changes were made now, or even in the next few weeks. I'd be surprised at months. but years.... not so much.

Anyway, I don't actually much enjoyment out of watching such results, so I may check back to see if the OP's state of mind is in any way changing or not... but as for his results, I've seen enough to decide for myself what I think about them.

X
  • #139
  • May 31, 2012 12:40pm May 31, 2012 12:40pm
Quoting rmrf
This isn't important to your trading, but my trading is, because I dont care who you are, I challenge you to beat me - live trading account to live trading account- put your $ where your mouth is I do and prove it now by this explorer. And if you can beat my winning percentage ratio or my pips of PROFIT per week, lets do this!

RMRF - This was what you challenged us at the start of the thread. Well I think it's looking like you lost. We tried to warn you. Now you're down over 90% and clinging on for dear life. Please let this be a lesson in how not to trade. You will hopefully recover from this and learn how to trade like a trader, not an all or nothing gambler. Good luck and take care.
  • #140
  • Jun 1, 2012 3:35am Jun 1, 2012 3:35am
125 PIPS today & counting down............

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It takes a lot for me to IGNORE you, but you can try.
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