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  • #2,721
  • Nov 5, 2012 4:12pm Nov 5, 2012 4:12pm
I only trade euro dollar pair. I am currently at 124% on one of my accounts and 36% on another account started 2 months ago. I would be over 200% in my first account but I took a spanking a couple months ago. Both accounts I risk around 30-40% margin. Been a good year for me.
  • #2,722
  • Nov 5, 2012 4:24pm Nov 5, 2012 4:24pm
Quoting Luis Carlos
Come on baby likes a orgasm!!!!!




Olu
If you think you can or cannot do it you are correct
  • #2,723
  • Nov 5, 2012 4:25pm Nov 5, 2012 4:25pm
Quoting Olu


Olu
99 years old orgasm
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #2,724
  • Nov 5, 2012 4:26pm Nov 5, 2012 4:26pm
Quoting Luis Carlos
Resistances:

1.2794 - 1.2805 - 1.2815 - 1.2837 - 1.2865 - 1.2880
2880? Yes please...

Olu
If you think you can or cannot do it you are correct
  • #2,725
  • Nov 5, 2012 4:40pm Nov 5, 2012 4:40pm
Quoting Olu
2880? Yes please...

Olu
are you long?
I'll Sell when price is heading to Hell
  • #2,726
  • Nov 5, 2012 5:02pm Nov 5, 2012 5:02pm
Quoting MeInGraySuit
I only trade euro dollar pair. I am currently at 124% on one of my accounts and 36% on another account started 2 months ago. I would be over 200% in my first account but I took a spanking a couple months ago. Both accounts I risk around 30-40% margin. Been a good year for me.
So how do you protect yourself when trading if you have such substantial risk? I have heard of others doing this and it seems a get-rich-quick scheme but sometimes your losses must be quite significant.
Thanks in advance for your response.
  • #2,727
  • Nov 5, 2012 5:16pm Nov 5, 2012 5:16pm
Quoting Orly
So how do you protect yourself when trading if you have such substantial risk? I have heard of others doing this and it seems a get-rich-quick scheme but sometimes your losses must be quite significant.
Thanks in advance for your response.
This is where money management comes in play, however, stupid mistakes like leaving money on the table without a stop loss over the weekend and having the euro jump 200 points (by the way is where I got spanked) are mistakes that we can make. But my rule of thumb and good money management skills I try to have my target profit prices 3 times as great as my stop losses. This reduces risks and lifts profits. Hard to do at times. Plus with EW theory I usually just trade 3 waves and C waves which are usually the longest. With all that said if you find what works for you, trust in it, don't deviate. You will not be right all the time but in the end profits be unto you. Good luck!
  • #2,728
  • Nov 5, 2012 5:23pm Nov 5, 2012 5:23pm
So this is what is meant by a 3:1 risk reward? And you use 30% of your account as risk? I should try it on the demo.
It won't cost me anything, right?
  • #2,729
  • Nov 5, 2012 5:30pm Nov 5, 2012 5:30pm
Quoting Orly
So this is what is meant by a 3:1 risk reward? And you use 30% of your account as risk? I should try it on the demo.
It won't cost me anything, right?
I would recommend real account...so your mind knows it is real money. If you want to change anything don't use 30% risk 2-5% until you get the hang of it. Do you use EW right know?
  • #2,730
  • Nov 5, 2012 5:39pm Nov 5, 2012 5:39pm
Quoting MeInGraySuit
I would recommend real account...so your mind knows it is real money. If you want to change anything don't use 30% risk 2-5% until you get the hang of it. Do you use EW right know?
You are right MIB. I done believe in demo accounts. Micro accounts are better imho

Olu
If you think you can or cannot do it you are correct
  • #2,731
  • Nov 5, 2012 5:41pm Nov 5, 2012 5:41pm
No. I am more of a price action/Fibonacci-level trader. Every time someone mentions EW (and please take no offense...), there are so many possible interpretations of what is iii Wave of 5 and that, that it is very confusing and it seems to overly complicate things.
Now, I use Bollinger Bands and Fibos and have been a position trader for the past four years. But, as you can imagine, position traders have been getting the heads handed to them over the past year plus, so I am trying to learn shorter time-frames and new methods.
I am subscribed here now, so as I come to understand your ideas, it may prove to be very helpful to me.

I do appreciate your taking the time...
  • #2,732
  • Nov 5, 2012 5:55pm Nov 5, 2012 5:55pm
Quoting Orly
No. I am more of a price action/Fibonacci-level trader. Every time someone mentions EW (and please take no offense...), there are so many possible interpretations of what is iii Wave of 5 and that, that it is very confusing and it seems to overly complicate things.
Now, I use Bollinger Bands and Fibos and have been a position trader for the past four years. But, as you can imagine, position traders have been getting the heads handed to them over the past year plus, so I am trying to learn shorter time-frames and new methods.
I am subscribed...
I too use BBands along with EW. You are right EW is confusing at times but it has rules to be followed. I have been trading 8 years now and EW by far is the best leading indicator that I have found. It works for me. Might not work for all but then again you still have to put in the time to learn. I am still learning. I have been studying three years. My first five years of trading I wasnt really as profitable, finding the trader inside me so to speak. But now I trade full time. If you are position trading then I say you are an investor, if you want to be a trader you will have to change your mindset because it is so much different. May the pips be with you!
  • #2,733
  • Nov 5, 2012 6:42pm Nov 5, 2012 6:42pm
What is the best time-frame to study when learning EW?
  • #2,734
  • Nov 5, 2012 7:15pm Nov 5, 2012 7:15pm
Quoting Orly
What is the best time-frame to study when learning EW?
hi Orly,

just curious....zero hedge? or Texas?
  • #2,735
  • Nov 5, 2012 7:19pm Nov 5, 2012 7:19pm
Quoting roro53
hi Orly,

just curious....zero hedge? or Texas?
Or both?
  • #2,736
  • Nov 5, 2012 7:25pm Nov 5, 2012 7:25pm
Quoting Orly
What is the best time-frame to study when learning EW?
Unfortunately you have to study all time frames to determine waves. I don't usually go down to 1 min but 5 min and above. If I can't figure what is going on at the 5 min level I go to the 15 min level and if the 15 min level is inconclusive then the 1 hour. I trade off the 15 and 5 but I get direction off of hourly and 4 hour. Confusing...but it is my way. Good Luck!
  • #2,737
  • Nov 6, 2012 7:39am Nov 6, 2012 7:39am
pound kiwi update
}
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #2,738
  • Nov 6, 2012 7:54am Nov 6, 2012 7:54am
Euro aussie ranging before last spot.
Attached Image (click to enlarge)
Click to Enlarge Name: euroaussie.png Size: 47 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #2,739
  • Nov 6, 2012 8:02am Nov 6, 2012 8:02am
Quote
Originally Posted by Luis Carlos
Targets:

Euro: 1,2794[/size] - 1,2765
Pound: 1,6000 - 1,5955
Aussie: 1.0330 - 1,0280

Euro dollar a headache... We reached 1,2765 and the downtrend could be ended, but but but, I would like a correction to (1.2860/90) and a last push down...
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #2,740
  • Nov 6, 2012 8:05am Nov 6, 2012 8:05am
Quoting Luis Carlos
pound kiwi update
}
I agree with you LC. Short is the way to go. If we have missed it so be it however it would be wise to wait for a pullback. We might only get 9368 though. 9425 would be good

Olu
If you think you can or cannot do it you are correct
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