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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #33,801
  • Jun 1, 2012 4:43am Jun 1, 2012 4:43am
Quoting FXSwissTrader
Breaking news wires. No articles. Paid service. Although I scour through everything like a wild Raccoon.
Interesting. Well keep it up, it is definitely not going unnoticed!

It's very appreciated my friend.
  • #33,802
  • Edited 5:00am Jun 1, 2012 4:45am | Edited 5:00am
Quoting BFSGcapital
20 pip stop loss, 60 pip target, 5x leverage.

Quite realistic (not saying it's easy), but you would have to be right a lot, and nail the tops and bottoms so you don't get stop hunted. Or combine a 40 pip move with a 20 pip scalp, etc.

But I was just saying 3-5% per day because that seems to be about what he averaged for the month of May.
The whole month of May was a sustained down trend. Anyone with some experience who believes the trend is your friend would be able to easily make that kind of gain. However, try doing it consistently... I'm not saying it's impossible. I'm just saying it's not sustainable.
Those who say it cannot be done should not interrupt those who are doing it
  • #33,803
  • Jun 1, 2012 4:45am Jun 1, 2012 4:45am
Quoting afos
hi all

just reminder 4 +5 th are bank holiday in uk

some effect on currencies?
thats why I said...

a big spike decline should be cautious
  • #33,804
  • Jun 1, 2012 4:46am Jun 1, 2012 4:46am
Quoting PipTrapper
The whole month of May was a sustained down trend. Anyone with some experience who believes the trend is your friend would be able to easily make that kind of gain. However, try doing it consistently... I'm not saying it's impossible. I'm just saying it's not sustainable.

I LIKE
  • #33,805
  • Jun 1, 2012 4:49am Jun 1, 2012 4:49am
Quoting PipTrapper
The whole month of May was a sustained down trend. Anyone with some experience who believes the trend is your friend would be able to easily make that kind of gain. However, try doing it consistently... I'm not saying it's impossible. I'm just saying it's not sustainable.
Agreed. The month of May was my best month I've had since I started, which was only 8 months ago, but I know it is partially because of the heavy down trend we've had.
  • #33,806
  • Jun 1, 2012 4:49am Jun 1, 2012 4:49am
Quoting BFSGcapital
200% in one month wow. Congrats that is impressive. Now let's see if you can keep that gain throughout June, that will be the real challenge.

Just make sure your risk per trade isn't too high, or when you lose 10 trades in a row, it's going to kill your account.

He who can make 3-5% gains in a day with a 1% daily stop loss is probably among the best FX traders in the world.

Unrealistic to do it everyday, but certainly very possible to do it almost every day.
I've started to trade again this month because of the dropping news regarding the crude oil.

I started with 28€, now I have 1.110€...

I wake up in the morning before london opening, I sell with 50% of margin in a good spot and then just take a 20 pip profit and I have my day completed in some minutes...

I know that it's a stupid way to trade, but it worked, and know I have 1.100€ to start trading correctly ))))

NOTE: In the beginning I trade with 100% margin and for more pips, the tactic I mention above started since two weeks ago when I was already around 400€
  • #33,807
  • Jun 1, 2012 4:50am Jun 1, 2012 4:50am
Quoting PipTrapper
Would be nice, but like I said... wait for NFP. That will determine if we get a correction before heading lower.
Was just thinking to myself, bulls, what bulls?

All it ever is is shorts taking profit, which pushes price up, and then they battle it out for a better entry than their take profit

Need a break, be back for the fun soon.
An opportunity lost is not a capital cost.
  • #33,808
  • Jun 1, 2012 4:53am Jun 1, 2012 4:53am
Quoting nunonuk
I've started to trade again this month because of the dropping news regarding the crude oil.

I started with 28€, now I have 1.110€...

I wake up in the morning before london opening, I sell with 50% of margin in a good spot and then just take a 20 pip profit and I have my day completed in some minutes...

I know that it's a stupid way to trade, but it worked, and know I have 1.100€ to start trading correctly ))))

Congrats on your success but that could be considered gambling and not proper trading.
  • #33,809
  • Jun 1, 2012 4:54am Jun 1, 2012 4:54am
Quoting BFSGcapital
Was just thinking to myself, bulls, what bulls?

All it ever is is shorts taking profit, which pushes price up, and then they battle it out for a better entry than their take profit

Need a break, be back for the fun soon.
That's exactly it. Short covering... and when the pair is heavily short, a short covering can get violent and spikey. Of course it would be very quickly faded. That's why I have sell limit orders in place.
Those who say it cannot be done should not interrupt those who are doing it
  • #33,810
  • Jun 1, 2012 4:54am Jun 1, 2012 4:54am
Quoting nunonuk
I've started to trade again this month because of the dropping news regarding the crude oil.

I started with 28€, now I have 1.110€...

I wake up in the morning before london opening, I sell with 50% of margin in a good spot and then just take a 20 pip profit and I have my day completed in some minutes...

I know that it's a stupid way to trade, but it worked, and know I have 1.100€ to start trading correctly ))))

NOTE: In the beginning I trade with 100% margin and for more pips, the tactic I mention above started since two weeks ago...

Wow! Very impressive!

So you started with 28 Euros and now have 1,110 Euros?
  • #33,811
  • Jun 1, 2012 4:57am Jun 1, 2012 4:57am
Quoting FXSwissTrader
Congrats on your success but that could be considered gambling and not proper trading.
I don't consider it gamble, as I based my choices in the news(fundamental) and in the sentiment. Also used some technical analysis to enter my moves!

The market just can go in 3 directions, up, middle, down, I have 66,666% of not loosing money. This mathematical logic together with the tactic mention above, made get my profit!

It was planned, at least since 400€ till now!

Of course it's a not defensive tactic but, it was planned and executed according to plan!
  • #33,812
  • Jun 1, 2012 4:57am Jun 1, 2012 4:57am
Syriza party candidate says he WILL annul the EU bailout deal if elected on June 17th.


Don't forget there is a 2 week blackout in Greece leading up to elections. NO POLLS can be conducted. We will all be in the dark. Then comes 18th of June and Gomer Pyle will pop out to say SURPRISE, SURPRISE, SURPRISE.
  • #33,813
  • Jun 1, 2012 4:58am Jun 1, 2012 4:58am
Quoting smilemiz
I LIKE
Miz I am still waiting for your guess on the NFP number.
You must choose a number that is not taken yet.

Here is what is already taken...

HombreAlto: +180K
CommercialB: +170K
Savager: +165K
mka_78: +152K
Quidproquo: +150K
neuron: +147K
Gofer Pips: +143K
minortrader: +142K
sftyler: +141K
FXSwissTrader: +138K
PipsMaster23: +136K
100PipsADay: +132K
PipTrapper: +123K
ejiexe: +118K
BFSGcapital: +111K
Luis Carlos: +100K
Halifax: +102K
Likerty: +97K
CurrencyMan: +90K
afos: +88K
Those who say it cannot be done should not interrupt those who are doing it
  • #33,814
  • Jun 1, 2012 5:00am Jun 1, 2012 5:00am
Quoting 100PipsADay
Agreed. The month of May was my best month I've had since I started, which was only 8 months ago, but I know it is partially because of the heavy down trend we've had.
Any trader who can sustain an average of 10% return on capital per month on a long term sustained basis, in my eyes is a good trader. That works out to 120% per year before compounding. No other investment in the world will ever give you that kind of return... Not even a successful business.
Those who say it cannot be done should not interrupt those who are doing it
  • #33,815
  • Jun 1, 2012 5:01am Jun 1, 2012 5:01am
Quoting 100PipsADay
Wow! Very impressive!

So you started with 28 Euros and now have 1,110 Euros?
Yes, it seems incredible but it's truth.

http://s13.postimage.org/je4s8a453/Untitled.png

Missing today trade
  • #33,816
  • Jun 1, 2012 5:02am Jun 1, 2012 5:02am
Quoting FXSwissTrader
Syriza party candidate says he WILL annul the EU bailout deal if elected on June 17th.


Don't forget there is a 2 week blackout in Greece leading up to elections. NO POLLS can be conducted. We will all be in the dark. Then comes 18th of June and Gomer Pyle will pop out to say SURPRISE, SURPRISE, SURPRISE.
but there will be lots of leaked reports... or at least rumors.
Those who say it cannot be done should not interrupt those who are doing it
  • #33,817
  • Jun 1, 2012 5:06am Jun 1, 2012 5:06am
Quoting nunonuk
I've started to trade again this month because of the dropping news regarding the crude oil.

I started with 28€, now I have 1.110€...

I wake up in the morning before london opening, I sell with 50% of margin in a good spot and then just take a 20 pip profit and I have my day completed in some minutes...

I know that it's a stupid way to trade, but it worked, and know I have 1.100€ to start trading correctly ))))
It actually is one of THE best ways to trade. Why? Because all you need is ONE trade, and scalps are some of the highest probability trades you can pick.

Of course, you need to be right more than you are wrong.

If you can win 60% of your trades, with 2% for all the winners, and 1% for all the losses, you will be rich in no time at all.

Of course, what PT and position traders do is great too. You could have made that 200% by shorting 20x leverage and holding for 1000 pips throughout the month of may.

IMO, that's too risky to use that much leverage on a position trade. IMO it's also too much leverage on a scalp, scalps should be capped at 10x leverage, and I cap mine at 5x. Under no circumstance will I ever use more than 5x leverage, ever.

But scalping is much easier IMO, because there are certain times when the market NO QUESTIONS ASKED has to pull back.

For me there is three scalp opportunities.

5 pip s/l, 10 pip t/p (2x leverage max)
10 pip s/l, 20 pip t/p, (3x leverage max)
or 20 pip s/l, and 40 pip t/p (5x leverage max)

Of course, this is all my opinion based off of how I trade and how a multi millionaire trader trades (i would consider him my fx mentor). He doesn't scalp persay, but he does trade intra day trends for 20-40 pips (or more if the market will give it).

To be honest, I want the best of both worlds, and I have started looking for good position trades as well.

However, being a money manager, I can't hold trades for too long, as people like to withdraw/deposit and that cannot be done while trades are open. Clients can close their own accounts trades at any time (not the master account), but it's not recommended they do so.

Wow, wrote a freaking article here.. lol sorry.

Okay, be back later ladies and gents.
An opportunity lost is not a capital cost.
  • #33,818
  • Jun 1, 2012 5:07am Jun 1, 2012 5:07am
Quoting PipTrapper
Any trader who can sustain an average of 10% return on capital per month on a long term sustained basis, in my eyes is a good trader. That works out to 120% per year before compounding. No other investment in the world will ever give you that kind of return... Not even a successful business.

Best business in the world.

“Choose a job you love, and you will never have to work a day in your life.”
― Confucius
  • #33,819
  • Jun 1, 2012 5:07am Jun 1, 2012 5:07am
Quoting PipTrapper
but there will be lots of leaked reports... or at least rumors.

Yep.
  • #33,820
  • Jun 1, 2012 5:08am Jun 1, 2012 5:08am
Quoting PipTrapper
Any trader who can sustain an average of 10% return on capital per month on a long term sustained basis, in my eyes is a good trader. That works out to 120% per year before compounding. No other investment in the world will ever give you that kind of return... Not even a successful business.
Very true PT.

Also, if you are able to compound a portion of your profits on a monthly basis it will definitely show!

“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
― Albert Einstein
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