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  • #678,561
  • Aug 10, 2012 8:23am Aug 10, 2012 8:23am
If you wonder where 71 came from, it' the middle of that box I posted earlier..

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  • #678,562
  • Aug 10, 2012 8:23am Aug 10, 2012 8:23am
entered long at 1.2253.
  • #678,563
  • Aug 10, 2012 8:24am Aug 10, 2012 8:24am
Quoting tomplank
open LONG position now!
How is that going for you?
  • #678,564
  • Aug 10, 2012 8:24am Aug 10, 2012 8:24am
Quoting Mike8
40% per week? Juice, I really suck as I trader, I though I did well with my 3.65 %. I think I am going to look for another job, I am such a loser..

Good luck all, I am done with forex (just like the other guy)..
Hope you are kidding... 3.65% is good. Do that every week for 10 years... well do the math on a calculator its ridiculous.

40% is what NewbTrader made this week, and its his first week on live.

I think he is using horrible MM unless he considers that a small amount of his trading capital
Be hopeful in a winning position, and fearful in a losing position.
  • #678,565
  • Aug 10, 2012 8:26am Aug 10, 2012 8:26am
Quoting mohan76
pre ny push down like yesterday
yeah, they made a new low yesterday just like this, then they faked it up, and dropped it after..
  • #678,566
  • Aug 10, 2012 8:26am Aug 10, 2012 8:26am
Quoting Pcm
How is that going for you?
SL 20 pipps
  • #678,567
  • Aug 10, 2012 8:27am Aug 10, 2012 8:27am
51 is daily S1
Be hopeful in a winning position, and fearful in a losing position.
  • #678,568
  • Aug 10, 2012 8:28am Aug 10, 2012 8:28am
I think there were someone here who said " I think its just stupid not to go long now " his position was something like 23500 or even higher , i wonder where is he now ?
"It's the Margin, Stupid."
  • #678,569
  • Aug 10, 2012 8:29am Aug 10, 2012 8:29am
Quoting Mike8
40% per week? Juice, I really suck as I trader, I though I did well with my 3.65 %. I think I am going to look for another job, I am such a loser..

Good luck all, I am done with forex (just like the other guy)..
40% per week is quite a number. But have to depend the account size, and the trader's wealth as well, how much is that trading account : his wealth. If the trading account is mere few % and meant nothing to him, his trade can be risker/speculated on higher RR, 40% is not hard to achieve. But I don't know how a system can generate 40% per week on a consistent and safe strategy that have proven, 40% per month is possible and already astounding, we are talking about compounding here.

He will be headhunted by top banks/hedgefund.
40% per week, can make him

1 Month = 4 weeks
6 Months = 24
1 year = 48

based on a $1000.00 on a weekly 40% result is a sum of 3214199.7 on my compounding calculator for 1/2 year.

So he must be a millionaire soon or already is one. i am only referring to $1000.00 capital.

Hope to see your live account shared on some pages, so i can learn something from u.
  • #678,570
  • Aug 10, 2012 8:29am Aug 10, 2012 8:29am
Sp10y are making higher lows, gld just broke previous highs, risk assets are selling off... Direction is obvious.
  • #678,571
  • Aug 10, 2012 8:29am Aug 10, 2012 8:29am
Quoting NewbTrader7
Over the years I've seen the very same moves and cannot fathom what I would feel if in a few minutes my account was wiped out. I don't consider myself a good trader but can say I've learned my lessons, some the hard way and some fairly easily, but overall I feel like my finger on the trigger is the best stop loss. I take your opinion and words of wisdom with open arms and shall try and incorporate stop losses into my strategy.
Internet can cut out, power dies, broker fails. Use stops, even if they are wide. It can and will happen!

If you have a psychological s/l there is no reason not to have a hard one set, every time.
Be hopeful in a winning position, and fearful in a losing position.
  • #678,572
  • Aug 10, 2012 8:29am Aug 10, 2012 8:29am
Locked in +30 short at 1.22731 in case it rebounds. It is friday after all. I hope the floor falls out though.
  • #678,573
  • Aug 10, 2012 8:29am Aug 10, 2012 8:29am
Quoting rustyram
This is what i see EUR doing.... If EUR is headed down to 1.2252 (wave c) from here....then we should not see price retrace above 1.2275 area (wave b) ....If price goes above 1.2280 area , then this wave count is invalidated

Once it gets to 1.2252 it would have retraced .618 of the recent up move, then it should start heading up to 1.2600 to satisfy the big C (4 Hour)

I am short 1.2369 , Exit at 1.2260 (100 PIPS), Stop 1.2385

Then Long at 1.2260, Exit at 1.2600

Anyone expecting the same moves......

Good luck guys.....
First i would like to thank Mr. Hatch for reminding me of tight stops, if not for him, i would have got stopped and EUR would have gone for my target without me losing 100+ pips profit.

I am out of my shorts @ 1.2260.

Now i am Long at 1.2255, stop 1.2200 , Target 1.2600
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PPP - Patience Pays PIPS
  • #678,574
  • Aug 10, 2012 8:29am Aug 10, 2012 8:29am
I do hope they go lower than 1.224 to set off those sell stops.
  • #678,575
  • Aug 10, 2012 8:30am Aug 10, 2012 8:30am
Quoting Rag2RichesFX
Hope you are kidding... 3.65% is good.

40% is what NewbTrader made this week, and its his first week on live.

I think he is using horrible MM unless he considers that a small amount of his trading capital
That is really good. Consistency is key, I value your opinion. See ya next week I'm off to bed.
  • #678,576
  • Aug 10, 2012 8:31am Aug 10, 2012 8:31am
Quoting tankokjian
SL 20 pipps
Hopes it will hit your SL soon otherwise it won't hit my TP
  • #678,577
  • Aug 10, 2012 8:31am Aug 10, 2012 8:31am
Quoting Rag2RichesFX
Hope you are kidding... 3.65% is good. Do that every week for 10 years... well do the math on a calculator its ridiculous.

40% is what NewbTrader made this week, and its his first week on live.

I think he is using horrible MM unless he considers that a small amount of his trading capital
Rag

LOL, I am glad you see the reality of thinks, for a moment I doubt it, shame on me.

Keep the feet on the ground my friend. This is tough journey, soon you realise it, better it is.

I think you got the talent, keep it up, there is always something to learn....only if you do not want to.
"Men who can both be right and sit tight are uncommon."
  • #678,578
  • Aug 10, 2012 8:33am Aug 10, 2012 8:33am
Quoting 5percent
40% per week is quite a number. But have to depend the account size, and the trader's wealth as well, how much is that trading account : his wealth. If the trading account is mere few % and meant nothing to him, his trade can be risker/speculated on higher RR, 40% is not hard to achieve. But I don't know how a system can generate 40% per week on a consistent and safe strategy that have proven, 40% per month is possible and already astounding, we are talking about compounding here.

He will be headhunted by top banks/hedgefund.
40% per week, can...
The real problem is if he has an actual repeatable edge where he knows he's going to win more than he loses and can make up losses, or if he is just getting lucky with a string of winners because how he is trading works in the current market environment.

When a trader KNOWS they have a strong repeatable edge that works in all market environments (0r the sense to wait for the right environment) is when it is time to fully utilize leverage.

That's what really wipes out traders stuck to one style of trading, they can only trade trends or breakouts or ranges and when it switches between those they get pummeled.

That's what usually happens when someone is getting a large string of wins, they just happen to be trend trading in a trending market, or range trading in a ranging market...and they dont even realize it.
  • #678,579
  • Aug 10, 2012 8:34am Aug 10, 2012 8:34am
Quoting Mike8
I hear you bro. But seem I was right, now the market moved and in my direction. I risked 10 pips (1%) the gain of 10 pips when covered 2/3 gives me 0.66% at the minimum moving my SL to be

Reason I went in was that 78.50 was rejected and protective stop had walls behind it, but price stalled for 2 hours, and when it does, I get out at the best price, my trade if they do not work straight away, they normally do not work (not in this case tough, but target not reached yet ).

Bro is all easy in hindsight, but I do not trade the hindsight...


PM,d todays levels as they printed about 12 hrs ago , have worked beautifully, dont know what you mean by hindsight, but if that what you feel is no problem.

Often forex is best kept in its simplist form, can become over complicated very quickly.
If you are new to Forex? Say Goodbye to your account!!
  • #678,580
  • Aug 10, 2012 8:36am Aug 10, 2012 8:36am
I'm looking for at least 2207 today
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