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  • #17,981
  • Dec 5, 2012 12:03am Dec 5, 2012 12:03am
Quoting DaEdge
The majority of retailers fail because they are over leveraged & under funded, same with a lot of hedge funds. Trying to pick tops & bottoms will blow you out no matter what size you are. Hint hint MF Global. Corzine was right on his idea & trade but just to early because he was looking to hit a grand slam & prove he knew where the top was so he over leveraged himself. He could have easily made a fortune & been written about in history books for being one of the most successful traders ever, instead he decided to be a cowboy & try find the top....
What is your strategy?
  • #17,982
  • Dec 5, 2012 12:06am Dec 5, 2012 12:06am
Quoting Tim_isoara
What is your strategy?
play demo
  • #17,983
  • Dec 5, 2012 12:07am Dec 5, 2012 12:07am
Quoting HelloOz
play demo
  • #17,984
  • Dec 5, 2012 12:14am Dec 5, 2012 12:14am
Quoting Tim_isoara
What is your strategy?
Long-term wider stops lower leverage & getting involved on levels that I feel have meaning, i scale in & out of everything & add in when i see what i like. I pay attention to the bigger picture, read news, I watch indices, futures & bond markets & make decisions on trades in areas where I feel the R:R is there. No indicators or moving averages just naked charts that I mark up.
It works till it doesn't
  • #17,985
  • Dec 5, 2012 12:23am Dec 5, 2012 12:23am
Quoting DaEdge
Long-term wider stops lower leverage & getting involved on levels that I feel have meaning, i scale in & out of everything & add in when i see what i like. I pay attention to the bigger picture, read news, I watch indices, futures & bond markets & make decisions on trades in areas where I feel the R:R is there. No indicators or moving averages just naked charts that I mark up.
What R:R you use, because you have wider stops? How long last a transaction? How long is your stop in pips?Thanks
  • #17,986
  • Dec 5, 2012 12:29am Dec 5, 2012 12:29am
Quoting HelloOz
im the one on the top.

See, i am a fair guy, i gave the croc some droppings in return.
The one on the top looks like a female.
daddybearforex. com
  • #17,987
  • Dec 5, 2012 12:29am Dec 5, 2012 12:29am
Quoting Tim_isoara
What R:R you use, because you have wider stops? How long last a transaction? How long is your stop in pips?Thanks
Minimum 1:3, trades last as long as the market is confirming my idea it could be day, weeks or months. Stops are based on volatility of the pair I'm trading. I don't jump in all at once I do it at different levels that I'm interested in & different lots sizes based on what's going on in the bigger picture. There no one size fits all in trading every situation is different.
It works till it doesn't
  • #17,988
  • Dec 5, 2012 12:38am Dec 5, 2012 12:38am
Quoting DaEdge
Minimum 1:3, trades last as long as the market is confirming my idea it could be day, weeks or months. Stops are based on volatility of the pair I'm trading. I don't jump in all at once I do it at different levels that I'm interested in & different lots sizes based on what's going on in the bigger picture. There no one size fits all in trading every situation is different.
You don't risk equal 2% per transaction( for example) no matter that you have 50 pips stop or 150 pips stop?
  • #17,989
  • Dec 5, 2012 12:46am Dec 5, 2012 12:46am
If what DaEdge says is true in another thread - he has 15 years of forex exp. Could be interesting.

If he is one of the successful traders, he's most likely conducting long term trades - not scalping per se
  • #17,990
  • Dec 5, 2012 12:57am Dec 5, 2012 12:57am
DaEdge: Still, I wonder why you think that current levels are somehow not correct for shorting aud. For example, I can see aud at 1.10 in a year from now, but it is absolutely true that it's a good level for shorting aud - but we are not here forever.
When it comes to relevance of levels, I am looking at aud from the perspective of one year downtrend - again, I realize you do not see trendlines, and you are primarily a supply/demand trader but that is simply a different way of looking at things - there are many types of technical analyses^^

I've seen demand/supply zones work on weekly/daily charts, but they are just as effective as trendlines - though trendlines are a bit more precise. Still, ignoring one type of analysis over the other seems shortsighted to me.
  • #17,991
  • Dec 5, 2012 12:57am Dec 5, 2012 12:57am
Quoting Tim_isoara
You don't risk equal 2% per transaction( for example) no matter that you have 50 pips stop or 150 pips stop?
Absolutely not there is no set % of risk every set up is different. I make my decisions based on a fix $ amount I feel comfortable risking on the idea. Then I figure out where my SL needs to be & I'm able to determine my lot size from there.
It works till it doesn't
  • #17,992
  • Dec 5, 2012 1:00am Dec 5, 2012 1:00am
Quoting DaEdge
Absolutely not there is no set % of risk every set up is different. I make my decisions based on a fix $ amount I feel comfortable risking on the idea. Then I figure out where my SL needs to be & I'm able to determine my lot size from there.
GL
  • #17,993
  • Dec 5, 2012 1:03am Dec 5, 2012 1:03am
Quoting maximmm
If what DaEdge says is true in another thread - he has 15 years of forex exp. Could be interesting.

If he is one of the successful traders, he's most likely conducting long term trades - not scalping per se
Definitely no scalping here, not that I don't think it's not profitable it's just very difficult to master & if its not done properly losses will add up very quickly. It's also much easier to over trade when your scalping. I will add in however when I see the momentum confirming my idea but I will generally only hold that piece till it hits a level much lower level than my final profit target.
It works till it doesn't
  • #17,994
  • Dec 5, 2012 1:04am Dec 5, 2012 1:04am
Quoting DaddyBear
The one on the top looks like a female.
DB What is plan for today?
  • #17,995
  • Dec 5, 2012 1:08am Dec 5, 2012 1:08am
Quoting Tim_isoara
GL
I don't think you understand what I'm saying I don't risk 10% on an idea. This risk 1% or 2% is not real world trading. I risk a fixed $ amount that make sense with my account size & I'm comfortable losing. My stops rarely get hit & they are constantly adjusted.
It works till it doesn't
  • #17,996
  • Dec 5, 2012 1:10am Dec 5, 2012 1:10am
Quoting DaEdge
I don't think you understand what I'm saying I don't risk 10% on an idea. This risk 1% or 2% is not real world trading. I risk a fixed $ amount that make sense with my account size & I'm comfortable losing. My stops rarely get hit & they are constantly adjusted.
fix amount = x% of account
  • #17,997
  • Dec 5, 2012 1:15am Dec 5, 2012 1:15am
Quoting maximmm
DaEdge: Still, I wonder why you think that current levels are somehow not correct for shorting aud. For example, I can see aud at 1.10 in a year from now, but it is absolutely true that it's a good level for shorting aud - but we are not here forever.
When it comes to relevance of levels, I am looking at aud from the perspective of one year downtrend - again, I realize you do not see trendlines, and you are primarily a supply/demand trader but that is simply a different way of looking at things - there are many types of technical analyses^^

I've...
For my style of trading I'm am only interested in shorts from higher levels because I want to hold the trade longer term & ride it all the way down so it get very expensive paying swap waiting for the idea to get confirmed. My plan right now for this pair is simple ill wait till the 1.0800 to 1.1000 to get reached if it does ill short it if not Ill be waiting to buy way down low. If I don't get the short it's fine I'll get the long latter on down the road & if I don't get that I'll get something else on another pair. There's always a set up somewhere so if I can't get my price then then I'm not interested & ill get my price on something else.
It works till it doesn't
  • #17,998
  • Dec 5, 2012 1:19am Dec 5, 2012 1:19am
Quoting Tim_isoara
fix amount = x% of account
Some ideas I may risk .5% others might be 1.25% others could be 5% if I'm looking years ahead. It all depends on how long I think it will take to get where I think it's going & time of year, volatility. Do I have other positions on. Am I also looking at other setups. How do I rate the set up. There's a lot to it my friend it's not as easy as fixed 1% on every trade.
It works till it doesn't
  • #17,999
  • Dec 5, 2012 1:26am Dec 5, 2012 1:26am
Quoting DaEdge
Some ideas I may risk .5% others might be 1.25% others could be 5% if I'm looking years ahead. It all depends on how long I think it will take to get where I think it's going & time of year, volatility. Do I have other positions on. Am I also looking at other setups. How do I rate the set up. There's a lot to it my friend it's not as easy as fixed 1% on every trade.
Such talk is not allowed here
  • #18,000
  • Dec 5, 2012 1:26am Dec 5, 2012 1:26am
Quoting DaEdge
Some ideas I may risk .5% others might be 1.25% others could be 5% if I'm looking years ahead. It all depends on how long I think it will take to get where I think it's going & time of year, volatility. Do I have other positions on. Am I also looking at other setups. How do I rate the set up. There's a lot to it my friend it's not as easy as fixed 1% on every trade.
I trade around 3-5 trade on day with equal %risk on each trade.Market have every day top and bottom.
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