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  • #736,521
  • Dec 20, 2012 3:37am Dec 20, 2012 3:37am
Quoting BlueGas
Trying small short @ 3230 with 4 pip stop

Blue gas, I dont mean to be rude. But please, take it from me I am trading many years. Out of all the traders in the world, the very few that could win even for 1 week, let alone consistently are all under your desk. Tell me how many people you see......

The only person you will make rich is the Forex Brokerage who is on the other side looking at your account right now and praying that you never run out of money. He is also going to Church or Temple to pray that 100 more people who take 4 pip stops sign up in the next month. With some pairs that have a 4 pip spread, you are already down your 4 pips and have to get out as soon as you enter.-)
Dont you see now how crazy that is? But don't feel bad, we all do crazy things in our trading career. It sounds like your cutting your risk. But really you are cutting your throat. I'm sure you will do well if you switch to a higher time frame and risk more pips and always, always get at least 2-1 r/r on your winning trades. At least shoot for that. Never less than 1-1. At least not until you are a pro.

Good luck
  • #736,522
  • Dec 20, 2012 3:39am Dec 20, 2012 3:39am
Quoting MaxDoom
That is not for real, those numbers don't look right at the bottom - must be a demo account otherwise you would have been margin called. not sure how your margin requirement is only 1150 for all those positions either..
Yes Max , but the margin level percentage is 148 % ! if his margin call is near 50% , it could be real ... i also checked the entries , some of them where taken early today !
"It's the Margin, Stupid."
  • #736,523
  • Dec 20, 2012 3:39am Dec 20, 2012 3:39am
That 34 is a sure biatch. If she fails again and breaks below 29 I'm out.

Bugger me... It almost did it the swine.
A pip is only worth it if you know how much you risked to earn it
  • #736,524
  • Dec 20, 2012 3:39am Dec 20, 2012 3:39am
Max, I will lose hope for me Longs if we close this hour below 1.3226... Do you agree...???
  • #736,525
  • Dec 20, 2012 3:39am Dec 20, 2012 3:39am
Quoting math_GB
I am sorry truly but my honest opinion would hurt you. Do you realise the number of consecutive losses here...? The problem is pretty clear... Close all and give yourself a break mate... If you keep on trading, you will blow that account very soon. I am really sorry, I really don't enjoy saying you these.
yea thanks, I know this.... the consecutive losses where made from an EA which did not work right...

I am considering to fund a good amount of money on the account, but than still I donīt know how to handel it...

I donīt need the - 24.000 back, equity arround 7.000,- would be fine...

thanks!

Pitt Bull
  • #736,526
  • Dec 20, 2012 3:41am Dec 20, 2012 3:41am
Quoting MaxDoom
That is not for real, those numbers don't look right at the bottom - must be a demo account otherwise you would have been margin called. not sure how your margin requirement is only 1150 for all those positions either..
belive me , it is a real account! why should I bother you and me for a demo account!?

margin call is at 10-15% at this account.

Pitt Bull
  • #736,527
  • Dec 20, 2012 3:41am Dec 20, 2012 3:41am
Quoting Pitt Bull
yea thanks, I know this.... the consecutive losses where made from an EA which did not work right...

I am considering to fund a good amount of money on the account, but than still I donīt know how to handel it...

I donīt need the - 24.000 back, equity arround 7.000,- would be fine...

thanks!

Pitt Bull
You mind if you write the name of this catastrophic EA and where or how you got it from ?!
"It's the Margin, Stupid."
  • #736,528
  • Dec 20, 2012 3:42am Dec 20, 2012 3:42am
Quoting MaxDoom
for those interested I will get this out early, might avoid some abuse

OPTIONS: Option expiries for today's 1000ET cut,
* Euro-dollar; $1.3250, $1.3275, $1.3290, $1.3300(large)
* Dollar-yen; Y83.40, Y83.50, Y84.00, Y84.30, Y84.50
* Cable; $1.6300, $1.6100
* Euro-Swiss; Chf1.2090
* Aussie; $1.0400, $1.0455, $1.0480, $1.0500, $1.0525, $1.0600
* Kiwi; $0.8350, $0.8425
* Dollar-Swiss; Chf0.9150
* Euro-Swiss; Chf1.2090
* Euro-Sek; Sek8.6295
* Euro-Nok; Nok7.3000

i have seen that , as i was in half sleep i don't wont to respond , but on ny cut option barrier manage to won
Mohan
  • #736,529
  • Dec 20, 2012 3:42am Dec 20, 2012 3:42am
Quoting Silat50
Blue gas, I dont mean to be rude. But please, take it from me I am trading many years. Out of all the traders in the world, the very few that could win even for 1 week, let alone consistently are all under your desk. Tell me how many people you see......

The only person you will make rich is the Forex Brokerage who is on the other side looking at your account right now and praying that you never run out of money. He is also going to Church or Temple to pray that 100 more people who take 4 pip stops sign up in the next month. With some pairs that...
Wise sound... I liked you...
  • #736,530
  • Dec 20, 2012 3:43am Dec 20, 2012 3:43am
Quoting Pitt Bull
yea thanks, I know this.... the consecutive losses where made from an EA which did not work right...

I am considering to fund a good amount of money on the account, but than still I donīt know how to handel it...

I donīt need the - 24.000 back, equity arround 7.000,- would be fine...

thanks!

Pitt Bull
Lock yourself away, study the markets day after day, week after week, month after month, until you get a system that works, and when you've got a demo account that looks like the one you've showed us, on the positive side, then, start putting you money on the line, and yes, I am being serious.
  • #736,531
  • Dec 20, 2012 3:44am Dec 20, 2012 3:44am
Pair may move about right now....well positioned for the move.

Watch out, cant say which way. Cross is positive though.
They think they are smarter than I am.
  • #736,532
  • Dec 20, 2012 3:44am Dec 20, 2012 3:44am
Quoting Pitt Bull
yea thanks, I know this.... the consecutive losses where made from an EA which did not work right...

I am considering to fund a good amount of money on the account, but than still I donīt know how to handel it...

I donīt need the - 24.000 back, equity arround 7.000,- would be fine...

thanks!

Pitt Bull
Pitt, a good walk away of at least 2 weeks will do you and your trading a world of good. If you can't keep away, then at least look at 4H to 1 H time frames only then walk away.

And get rid of all your indicators and just watch pure price, nothing else.

These may sound stupid, but currently you are wired for failure and pain. The above can at least disrupt your pattern but still keep you plugged in to current movements.

Take it from another account blower
A pip is only worth it if you know how much you risked to earn it
  • #736,533
  • Edited 4:00am Dec 20, 2012 3:45am | Edited 4:00am
Quoting bennyblanco
not sure on that one, the way I read it was that it tested the top of the Asia range. Yesterday there was a breakout in Asia trading, in the morning it retraced that & tested the top of the Asia range pre the breakout before heading north.

On your options post, that info can be useful. Sometimes the options can just act as a speed bump to a move, but they can also trigger decent retracement. Personally I wouldn't look to enter a position based on a option barrier, but depending on PA reaction it might lead me to close a position or...

so it was a classic setup consolidation, break, test

the reasons it is a weak trading signal on first test are:

1. the rapid 9 pip bar rejection from 34 to 25 shows good rejection but more importantly being a big bar is hard to get an engulfing on the next one, and even the next they are in the shadow of that big red bar

2. the time of day is 25 minutes into London right in the time zone where if they are going to reverse direction they often do

3. the immediate swing direction is down from 3309 so going against the flow means you want to see nice clear signals ideally

the next test was better steady red bars down, some tight tiny bars then lift and at over an hour past London open

your charts may not look quite the same as mine is a tick chart with mid-pricing
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  • #736,534
  • Dec 20, 2012 3:46am Dec 20, 2012 3:46am
Quoting Pitt Bull
looking for a trader who does monitor our expert advisor and manualy secures gains...profit sharing from our clients accounts

email to ####@live-style.tv

cheers!

Mario
Interesting
"It's the Margin, Stupid."
  • #736,535
  • Dec 20, 2012 3:46am Dec 20, 2012 3:46am
Quoting Silat50
Blue gas, I dont mean to be rude. But please, take it from me I am trading many years. Out of all the traders in the world, the very few that could win even for 1 week, let alone consistently are all under your desk. Tell me how many people you see......

The only person you will make rich is the Forex Brokerage who is on the other side looking at your account right now and praying that you never run out of money. He is also going to Church or Temple to pray that 100 more people who take 4 pip stops sign up in the next month. With some pairs that...
Yeah, i guess i still have a bit of problem with overtrading,but some trades do turn out nicely, but advice taken. Usually i set 20 to 30, like yesterday which i took @ 3190, still some portion on. And you got me on that one, im trying to minimize/maximize risk/reward, but will take your advice.
  • #736,536
  • Dec 20, 2012 3:47am Dec 20, 2012 3:47am
Not much happening here, can I go get some sleep?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #736,537
  • Dec 20, 2012 3:48am Dec 20, 2012 3:48am
Quoting Pitt Bull
yea thanks, I know this.... the consecutive losses where made from an EA which did not work right...

I am considering to fund a good amount of money on the account, but than still I donīt know how to handel it...

I donīt need the - 24.000 back, equity arround 7.000,- would be fine...

thanks!

Pitt Bull
Fair enough - if you are not worried about the cash then you have two choices

1. just close everything now and save what is left in the account
2. risk the remainder and leave it on until success or margin call

I wouldn't add cash to the account with the trades open
  • #736,538
  • Dec 20, 2012 3:49am Dec 20, 2012 3:49am
29 broken, pulling the plug.
Have a great Christmas everyone. And a safe but prosperously green New Year.

Vlad
A pip is only worth it if you know how much you risked to earn it
  • #736,539
  • Dec 20, 2012 3:49am Dec 20, 2012 3:49am
Quoting Pitt Bull
Help needed!

Hello fellow traders, can anyone take look at this messed up account and
maybe know a way out of this...?

And serious comments apriciated-thanks!

Pitt Bull
Basically your EA grid gone out of control



disable EA and close with multiple close by option this will help to re gain with spread with is going to be very high then trade manually
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Mohan
  • #736,540
  • Dec 20, 2012 3:49am Dec 20, 2012 3:49am
Quoting Pitt Bull
Help needed!

Hello fellow traders, can anyone take look at this messed up account and
maybe know a way out of this...?

And serious comments apriciated-thanks!

Pitt Bull
That is a mess. Someone else suggested adding cash to cover margin, but I don't advise that. You're unrealized losses are as good as realized. So in order to increase your available margin to safer levels I would start closing positions. It will basically have the same effect as adding cash, but better since you won't be hemorrhaging as much on rollovers. As painful as it may seem, start by closing your largest positions. Again, that money is already gone since unrealized is the same as realized (no need to fool yourself any longer). Next start planning where you are going to exit the remaining trades, both take profits and stop losses. Close them out manually once they are reached. Once all the dust has settled and you've finished closing all the positions. Trade with a very small account. If you blow the small account refund it. Continue to trade small until you're confident you know how to prevent large draw downs AND make profit. To be honest, that could take years to learn. Best of luck.
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