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  • #672,341
  • Jul 26, 2012 11:58am Jul 26, 2012 11:58am
Quoting Vachus
I don't think anyone can claim proudness for what happened , this was completely random and no one expected this rally to go that far - i'm completely surprised. My position was short with a pending order at 1.20600 and left the computer opened and went to work. i actually thought i had this in the bag and didn't event check online what happened ! i expected a minor rally something like 40 pip above current price ( which was 1.21300 ) but , ....

Anyway, i'm sidelining at the moment and waiting for a good chance for a short. I think we will see...
Just curious...is trading without a sl working for you so far...i tried it when i 1st started in demo but had no success with it. I heard some ppl do well without even a mental sl, but it seems crazy aggro to me.
  • #672,342
  • Jul 26, 2012 12:01pm Jul 26, 2012 12:01pm
Quoting ExForX
Merkel will be furious to find out after her vacation that her FX account had a margin call.
Lol. But anyway, she is short from the top .

T
"I know one thing, that I know nothing." Sokrates
  • #672,343
  • Jul 26, 2012 12:01pm Jul 26, 2012 12:01pm
Quoting Alexone
Just curious...is trading without a sl working for you so far...i tried it when i 1st started in demo but had no success with it. I heard some ppl do well without even a mental sl, but it seems crazy aggro to me.
Doing well like this. If you keep a conservative leverage, ample money management, u take positions, then wait till they come back, and you can average out (if u like the concept) or take other positions while maintaining the old one.

Drawback : sometimes you can carry on that position for a long time...!
  • #672,344
  • Jul 26, 2012 12:05pm Jul 26, 2012 12:05pm
lunch break over? lets see now..
  • #672,345
  • Jul 26, 2012 12:05pm Jul 26, 2012 12:05pm
Going up! :-D
  • #672,346
  • Jul 26, 2012 12:07pm Jul 26, 2012 12:07pm
Quoting divak
Doing well like this. If you keep a conservative leverage, ample money management, u take positions, then wait till they come back, and you can average out (if u like the concept) or take other positions while maintaining the old one.

Drawback : sometimes you can carry on that position for a long time...!
Nice! What kind of gains u can achieve/month trading without a sl? I mean are they satisfying to say the least? This way of trading is really hard mentally, but i guess has a lot of benefits.
  • #672,347
  • Edited 12:18pm Jul 26, 2012 12:08pm | Edited 12:18pm
Quoting Alexone
Just curious...is trading without a sl working for you so far...i tried it when i 1st started in demo but had no success with it. I heard some ppl do well without even a mental sl, but it seems crazy aggro to me.
I trade without a stop lose , yes ! its too damn risky and could wipe your account out. But i know when to close a trade and when to sit down patient and let the price move against u , because you know it should come back to calculation. However, it happens from time to time that i'm wrong , which means i wait for the lower wave to get out. Stop loses are for scaplers - people who want to ride a candle and take 25 pips if they were lucky.

Both are used in different situations , today and yesterday was one of them - highly volitale market and if you jump in with a stop loses , you will probably lose the position.

Edit : I take smaller positions first and if it moves the right direction i load up on the road ... so , even if i don't have a stop lose , i make sure i'm not risking that much ! and most of times i don't use more than 50% of open margin on a single trader !
"It's the Margin, Stupid."
  • #672,348
  • Jul 26, 2012 12:09pm Jul 26, 2012 12:09pm
Quoting Pilfered
Going up! :-D
hmm.. @ least 76 was rejected.
  • #672,349
  • Jul 26, 2012 12:17pm Jul 26, 2012 12:17pm
in conclusion this morning everything was gloomy, countries going bonkers, bonds going down, banks downgraded... a couple hours later some guy comes on tv and says everything is actually fine and dandy, immediately euro goes up 200 pips, and everybody has high hopes again... smth is wrong with this picture... i guess the best forex strategy is to take a look at that guy`s papers before he goes live and trade accordingly, who cares about fundamentals or technicalities...
i obviously studied the wrong forex until now
  • #672,350
  • Jul 26, 2012 12:21pm Jul 26, 2012 12:21pm
Quoting Wallachian
in conclusion this morning everything was gloomy, countries going bonkers, bonds going down, banks downgraded... a couple hours later some guy comes on tv and says everything is actually fine and dandy, immediately euro goes up 200 pips, and everybody has high hopes again... smth is wrong with this picture... i guess the best forex strategy is to take a look at that guy`s papers before he goes live and trade accordingly, who cares about fundamentals or technicalities...
i obviously studied the wrong forex until now
  • #672,351
  • Jul 26, 2012 12:22pm Jul 26, 2012 12:22pm
Yep. It's pretty much how it works. Dumpster diving around the ECB building might me more profitable than some may think.. LOL.

Quoting Wallachian
in conclusion this morning everything was gloomy, countries going bonkers, bonds going down, banks downgraded... a couple hours later some guy comes on tv and says everything is actually fine and dandy, immediately euro goes up 200 pips, and everybody has high hopes again... smth is wrong with this picture... i guess the best forex strategy is to take a look at that guy`s papers before he goes live and trade accordingly, who cares about fundamentals or technicalities...
i obviously studied the wrong forex until now
  • #672,352
  • Jul 26, 2012 12:22pm Jul 26, 2012 12:22pm
Quoting Vachus
I trade without a stop lose , yes ! its too damn risky and could wipe your account out. But i know when to close a trade and when to sit down patient and let the price move against u , because you know it should come back to calculation. However, it happens from time to time that i'm wrong , which means i wait for the lower wave to get out. Stop loses are for scaplers - people who want to ride a candle and take 25 pips if they were lucky.

Both are used in different situations , today and yesterday was one of them - highly volitale market and...
50% is high to me but w/e works for you! I learned during my time in Forex that there are many many many ways u can profit from Forex and theres no right way, so, as long as it works for you...go for it! Its an interesting way to trade yours, to say the least!
  • #672,353
  • Jul 26, 2012 12:23pm Jul 26, 2012 12:23pm
Quoting Vachus
I don't think anyone can claim proudness for what happened , this was completely random and no one expected this rally to go that far - i'm completely surprised. My position was short with a pending order at 1.20600 and left the computer opened and went to work. i actually thought i had this in the bag and didn't event check online what happened ! i expected a minor rally something like 40 pip above current price ( which was 1.21300 ) but , ....

Anyway, i'm sidelining at the moment and waiting for a good chance for a short. I think we will see...
Really well said so ...




;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #672,354
  • Jul 26, 2012 12:28pm Jul 26, 2012 12:28pm
Quoting Alexone
Nice! What kind of gains u can achieve/month trading without a sl? I mean are they satisfying to say the least? This way of trading is really hard mentally, but i guess has a lot of benefits.
Well, i'm over 50% average a month. Started only back on march 20th.
I know some people here will smile at the number, but i dont mind.

I use technicals, averaging out, active management of SL, i do not do scalping, i never use SL less than 20pips from entry (as brokers try to cheat and take it), keep an eyes on news, and stay a lot of time in front of computer...
  • #672,355
  • Jul 26, 2012 12:30pm Jul 26, 2012 12:30pm
Quoting Alexone
50% is high to me but w/e works for you! I learned during my time in Forex that there are many many many ways u can profit from Forex and theres no right way, so, as long as it works for you...go for it! Its an interesting way to trade yours, to say the least!
Be pragmatic, u must do the way that fits u. Not what others do.
  • #672,356
  • Jul 26, 2012 12:31pm Jul 26, 2012 12:31pm
Quoting Wallachian
in conclusion this morning everything was gloomy, countries going bonkers, bonds going down, banks downgraded... a couple hours later some guy comes on tv and says everything is actually fine and dandy, immediately euro goes up 200 pips, and everybody has high hopes again... smth is wrong with this picture... i guess the best forex strategy is to take a look at that guy`s papers before he goes live and trade accordingly, who cares about fundamentals or technicalities...
i obviously studied the wrong forex until now
the market never confirms anything ... and is always right ... Knowing this is already something
  • #672,357
  • Jul 26, 2012 12:34pm Jul 26, 2012 12:34pm
Quoting Vachus
I trade without a stop lose , yes ! its too damn risky and could wipe your account out. But i know when to close a trade and when to sit down patient and let the price move against u , because you know it should come back to calculation. However, it happens from time to time that i'm wrong , which means i wait for the lower wave to get out. Stop loses are for scaplers - people who want to ride a candle and take 25 pips if they were lucky.

Both are used in different situations , today and yesterday was one of them - highly volitale market and if...
Again ... well said so ...

But 50% of margin used ... that is more than pretty tough I must say ...

You are very brave then ...

Which I am not that brave ... as mostly I only use 5 or 10 % maximum ...

The big leverage is only used in cases a trading result does last longer than 12 hours ... in order to bring it to an end very fast ...

I do like the way you are writing here!





;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #672,358
  • Jul 26, 2012 12:36pm Jul 26, 2012 12:36pm
Quoting divak
Be pragmatic, u must do the way that fits u. Not what others do.
Exactly... you have to use a system that is "comfortable" to your trading. You have to develop your own and test and follow it on both winning and losing trades. We all end up on the wrong side of trades here. There is no Holy Grail system out there, so start learning and stop copying others. YOU have to be able to do this to even start to exceed at this business.
  • #672,359
  • Jul 26, 2012 12:36pm Jul 26, 2012 12:36pm
Quoting mercy seat
Again ... well said so ...

But 50% of margin used ... that is more than pretty tough I must say ...

You are very brave then ...

Which I am not that brave ... as mostly I only use 5 or 10 % maximum ...

The big leverage is only used in cases a trading result does last longer than 12 hours ... in order to bring it to an end very fast ...

;-|
Why using so little margin? U use what level of leverage? 50? more?
EURUSD average absolute moves are quite modest if u compare to an equity underlying.
Today is a big move day, and it stands just around 1.2%...
  • #672,360
  • Jul 26, 2012 12:38pm Jul 26, 2012 12:38pm
so what is going to happen if spains 10ys pass 7 again tomorrow...
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