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  • #658,021
  • Jun 16, 2012 6:37pm Jun 16, 2012 6:37pm
Quoting pkimnyc
No sl? No target?
TP yes SL very rare...
Forex rewards patience.
  • #658,022
  • Jun 16, 2012 6:41pm Jun 16, 2012 6:41pm
All I have to say is that I hope that no one has longs on!! You making a big mistack!! That's all I will say! I know people will give me shit, but I thought I would share something I already know!
  • #658,023
  • Jun 16, 2012 6:42pm Jun 16, 2012 6:42pm
Quoting Doomfor
TP yes SL very rare...
without sl, how could you calculate if r:r is in your favor?
  • #658,024
  • Jun 16, 2012 6:54pm Jun 16, 2012 6:54pm
Quoting coastie
Alot of successful traders will only make around the 10% a month.
I don't know about that...
  • #658,025
  • Jun 16, 2012 6:59pm Jun 16, 2012 6:59pm
Quoting pkimnyc
I don't know about that...
How much would you say?
what do you make if I can ask?
Cheers
  • #658,026
  • Jun 16, 2012 7:02pm Jun 16, 2012 7:02pm
Quoting Doomfor
How much time is it necessary to overcome your emotions? I'm trading for a month and a half now, and i fucked everything i earned. This week i earned 102% and i lost it. And every week same story. I just loose myself in the end wich is ... like i don't even care about the money.

Is it average to make 100% per week, cause i hear some ppl are happy with 9-10%, i don't get it what so hard in earning at least 50%...

Hi there

1. make profit
2. keep profit
3. repeat

what if you lose 90% next week? I think You are on high risk trading try to mange risk and try be up 10% a week for 10 weeks.

Respect
  • #658,027
  • Jun 16, 2012 7:03pm Jun 16, 2012 7:03pm
Quoting coastie
How much would you say?
what do you make if I can ask?
Cheers
More than 10% a week.
  • #658,028
  • Jun 16, 2012 7:11pm Jun 16, 2012 7:11pm
Quoting Crgone12
All I have to say is that I hope that no one has longs on!! You making a big mistack!! That's all I will say! I know people will give me shit, but I thought I would share something I already know!
Hi

I have long

But I have short as well

both with sl but no tp
  • #658,029
  • Jun 16, 2012 7:36pm Jun 16, 2012 7:36pm
Quoting morob
Hi

I have long

But I have short as well

both with sl but no tp
This is not as smart as you might think. Volatility means exactly that. Wild price swings. Huge spreads. You will get stopped out on both before you can blink if it doesn't go exactly as planned.
  • #658,030
  • Jun 16, 2012 7:39pm Jun 16, 2012 7:39pm
Quoting C5fx
This is not as smart as you might think. Volatility means exactly that. Wild price swings. Huge spreads. You will get stopped out on both before you can blink if it doesn't go exactly as planned.
agreed 100%
  • #658,031
  • Jun 16, 2012 9:05pm Jun 16, 2012 9:05pm
Quoting C5fx
This is not as smart as you might think. Volatility means exactly that. Wild price swings. Huge spreads. You will get stopped out on both before you can blink if it doesn't go exactly as planned.
Well, in that case, he should have put TP instead of SL... (I don't have any open position for now.)
Forex rewards patience.
  • #658,032
  • Jun 16, 2012 9:06pm Jun 16, 2012 9:06pm
Quoting coastie
Hi there,
Alot of successful traders will only make around the 10% a month. I think that if you are making 100% a week and then losing it that your money management needs to be looked at.
Fear and greed are 2 evil emotions that will kill your acount and kill your trading career as you will eventually get sick of the rollercoaster and get off. I have found that if fear and greed step into your trading than usually you are risking too much each trade. You need to calculate your SL and how much you are risking before entering any trade and be aware...

Kinda what I said lol
  • #658,033
  • Jun 16, 2012 9:22pm Jun 16, 2012 9:22pm
Quoting Doomfor
Well, in that case, he should have put TP instead of SL... (I don't have any open position for now.)
Sure, but that's still rolling the dice. Anyone who is smart and not trading a position medium-long term should be sidelined right now.
  • #658,034
  • Jun 16, 2012 9:32pm Jun 16, 2012 9:32pm
[quote=attila;5766773]Most of what you're saying is right.. The market is being pushed and pulled and faked different directions, but that's normal trading. I came here many times saying "Did you really think you were going to get a long/short on a platter?" The market is a SL/Order fill sophisticated mechanism, and yes, the banks take advantage of it.. It's part of price discovery and that's the way it should be, otherwise we'll probably have Obama set the exchange rates based on what he had for dinner the night before.. or jun jong il, or whatever his name is for that matter..
___
I understand we all have are reasons for why it may go up or down. I know the market is volatile. That is not what I am getting at. Not one individual investor may not call the shots, but the big boys as a whole may. Take analysis, speculation, technicals, and fundamentals out of the game. What moves the price up or down? Capital does. My 2k account and 2 or 3 lots won't but a firms like JP Morgan who has 100,000s of lots can. See the thing is smart money won't fight each other. Why would they? In essence, they have the power (i.e. capital). They can drive it up, and they can drive it down or range bound it. They love to pick off retail investors. It is easy. They laugh at the fact that a top in a market or asset is signaled when the dumb money runs in. It's kinda pathetic.

They play an expensive chess game and the retails are the chess pieces. They will move and take you out when they want.

I am not saying it is not impossible for retail traders or that we should get specialized treatment. There's is a reason why trading volume is a third of pre-financial crisis levels. I mean to think that the forces can drive the price down, knock out the long SLs than drive it up in the same day and knock out the short SL is a bit ridiculous and frankly a bunch of bull. I am almost positive the retails alone cannot range 100 pts in a few hours. Sometimes I wonder why analysis is worthwhile because recently you're damned if you do damned if you don't.
  • #658,035
  • Jun 16, 2012 9:49pm Jun 16, 2012 9:49pm
Don't forget "smart" money loses too.. I have family working for one, and their market maker dept. constantly loses. They make money because of the deals they get for their prop traders due to their market making side of the business....
[quote=pip_trader;5766868]
Quoting attila
Most of what you're saying is right.. The market is being pushed and pulled and faked different directions, but that's normal trading. I came here many times saying "Did you really think you were going to get a long/short on a platter?" The market is a SL/Order fill sophisticated mechanism, and yes, the banks take advantage of it.. It's part of price discovery and that's the way it should be, otherwise we'll probably have Obama set the exchange rates based on what he had for dinner the night before.. or jun jong il, or whatever...
  • #658,036
  • Jun 16, 2012 10:43pm Jun 16, 2012 10:43pm
Quoting pip_trader
They can drive it up, and they can drive it down or range bound it. They love to pick off retail investors. It is easy. They laugh at the fact that a top in a market or asset is signaled when the dumb money runs in. It's kinda pathetic.

They play an expensive chess game and the retails are the chess pieces. They will move and take you out when they want.
Hi, you are assigning a human personality to the market. The market is too big for any one to manipulate except for central banks.

The truth is, smart money is competing against smart money - retailers getting stopped out is a consequence of them not knowing where a good place to buy really is, our stops are worthless to a bank. Correlation =/= causation and all that...

Lots of them (big money) are net losers, too.
"Don't Panic..."
  • #658,037
  • Jun 16, 2012 10:52pm Jun 16, 2012 10:52pm
Nobody has time to pick on retail traders these days.. its countries competing with each other these days.. CBs picking on each other.. economies picking on each other .. I wont be surprised if in future I come to know that Obama administration had a team whose sole job was to shore up US dollar and break Euro as a rising reserve currency.. just 4 years back we were talking of Iran selling oil in euro, dinar and Russian rubles .. and countries like India and China starting to 'diversify' their foreign currency reserve by maintaining more and more reserves in euro and less dollar.. all of them have seen their countriy's foreign currency reserve disappear now and are regretting it. US dollar has once again became 'the' currency, the only one which has the capability to be called a global currency, no other currency can replace it.
  • #658,038
  • Jun 16, 2012 11:24pm Jun 16, 2012 11:24pm
I was inactive for the past few day because I was trying to figure out the price action. I lost around 150 pips on the EurUsd recently. I thought that the Spanish bailout would be enough but I was wrong. For now, I have 2 long position on the EURUSD.

we are going to have a lot of interesting trade after the Greek election. If every thing goes right, I will buy some crude oil. If the crude oil price goes up, the value of the canadian Dollar will also go up, so I will go short on USDCAD until it reaches 0.98. I will stay long on the EURUSD until 1.282. After that point, I will watch the market reaction to see if we can go further up. Dont forget that Italy might have economic turmoil.

If the Greece election go wrong, I will simply short EURUSD for a short period of time only.

Anyway, I was quite inactive for the past days. Ive been waiting for these election for a WHILE. Now its time for action.

Good luck everyone and I hope we all make profits
__________________
Alternatives are more important than the plan itself
  • #658,039
  • Jun 16, 2012 11:25pm Jun 16, 2012 11:25pm
Quoting Purple
Nobody has time to pick on retail traders these days.. its countries competing with each other these days.. CBs picking on each other.. economies picking on each other .. I wont be surprised if in future I come to know that Obama administration had a team whose sole job was to shore up US dollar and break Euro as a rising reserve currency.. just 4 years back we were talking of Iran selling oil in euro, dinar and Russian rubles .. and countries like India and China starting to 'diversify' their foreign currency reserve by maintaining more and more...
Alternatives are more important than the plan itself
  • #658,040
  • Jun 17, 2012 12:11am Jun 17, 2012 12:11am
Quoting phxmike
you try to calm yourself down with this or what is this statment for?

very childish to put any emotion into trading
first if you do this it is still useless and you still don't know where it will go
second, you will loose money
niether I am childish, nor I am emotional regarding trading

just keep a watch I gave u a forecast thats it
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