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  • #748,961
  • Jan 22, 2013 7:35pm Jan 22, 2013 7:35pm
3318 here for more short.. it's res turned support.
  • #748,962
  • Edited 8:14pm Jan 22, 2013 7:36pm | Edited 8:14pm
Quoting Vachus
Oanda's trade recommendations for swing position on EURUSD has been hit 6 times in a row ... and they still advocate the 7th one !
yesterday was an exceptional day!

em no fan of oanda. in fact i detest them! nevertheless, i think we cannot criticize a system for 6 losing streaks (trades). even if one is the worst trader in the world, to hit a losing streak of 30 trades is a phenomenon. an average retail or "wholesale" fx trader losing streak is unbelievably under 6! you can take a look at your own stats.

the difference is that most retail traders do not hold on or build to winning positions, cutting winners too early and letting losses run.

william eckhardt, one of the world's best traders, had an annualized return of 25% for the last 20 years, nett of charges and taxes.
20 trades per week
4 trades per day

with 1 losing year
and more than 8 instances where he had 4 to 5 losing months.

the other one is dunn with an average DD of 38% and his worst month is -51% of equity, and he still performs 5% better than S&P500

(credits to Ali of ZamZam for sharing)

if one would calculate a losing streak, at a capital of $1000 and exposes just 1% with a stop loss of 100 pippers, by the 6th losing streak only $590 is left of the capital.

imagine people exposing 2% per trade with 100 pip SL. by the 6th losing streak capital is down to $328

therefore, the key really is understanding one's tolerable risk% (what is deemed painful/acceptable % of losses) and what is the exact pips to stop loss based on one's personal system.

and the reality is retailers are right more than half the time (f_xcm study 2011) it's just that they cut losses too early and never let nor build on winning trades.

em not addressing this to you, but to all of us, including me, to remind ourselves to sit on winning trades!

all the best!
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  • #748,963
  • Jan 22, 2013 7:37pm Jan 22, 2013 7:37pm
Quoting attila
You are right ec.. it was Monday.. Got them all messed up with the holiday and all..
no worries, similar anyways. fully understood =)
thx!
  • #748,964
  • Jan 22, 2013 7:43pm Jan 22, 2013 7:43pm
Quoting attila
3318 here for more short.. it's res turned support.
i was only targetting 8-9pips.. took them off at 3321, half the range. dunno, tokyo likes doing this the last few weeks.
  • #748,965
  • Jan 22, 2013 7:46pm Jan 22, 2013 7:46pm
Quoting ec_creep
i was only targetting 8-9pips.. took them off at 3321, half the range. dunno, tokyo likes doing this the last few weeks.
TY has 3342 above and 3263 below.. It's closer the one upstairs, so.. Other than that there's nothing around it should be interested in..
  • #748,966
  • Jan 22, 2013 7:49pm Jan 22, 2013 7:49pm
that 18 Is actually 17.8

at the bottom now.. it has to turn here, otherwise... matt's shorts will be good..
  • #748,967
  • Jan 22, 2013 8:01pm Jan 22, 2013 8:01pm
looks USD bullish

JPY bullish
  • #748,968
  • Jan 22, 2013 8:23pm Jan 22, 2013 8:23pm
Here are the daily levels.. it bounced off both top and bottom and it sits in the middle.. that's why it's so hard to tell which way atm..

Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 19 KB
  • #748,969
  • Jan 22, 2013 8:29pm Jan 22, 2013 8:29pm
zzzzzzzzzzzzzzzzz....... this pos is stalled in a tight range
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  • #748,970
  • Jan 22, 2013 8:40pm Jan 22, 2013 8:40pm
Quoting attila
TY has 3342 above and 3263 below.. It's closer the one upstairs, so.. Other than that there's nothing around it should be interested in..
*nods
having those too... will decide and put my heavier orders after tokyo.
Quoting ec_creep
...similar to yours, 3264. wonder why london didnt do it today. and 3345 now, i think...
probably coz i'm stupid, just coz i've been taking 2-4 times 8-14pips off of tokyo each day for several weeks now. just going by the odds here, chief.
  • #748,971
  • Jan 22, 2013 8:40pm Jan 22, 2013 8:40pm
Quoting attila
Here are the daily levels.. it bounced off both top and bottom and it sits in the middle.. that's why it's so hard to tell which way atm..

Attachment
I agree...based on the daily candle this shit can just go anywhere...
but as long as 1.3250ish holds still more likely to climb higher...
still looking for 1.3485 at least...

though I still holding shorts from last week
Patience, Emotion Control and Discipline.
  • #748,972
  • Jan 22, 2013 8:40pm Jan 22, 2013 8:40pm
My current position...

Looking for break from range & triangle to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: trade2day chart 1-22-13.jpg Size: 98 KB
  • #748,973
  • Jan 22, 2013 8:48pm Jan 22, 2013 8:48pm
Quoting attila
Here are the daily levels.. it bounced off both top and bottom and it sits in the middle.. that's why it's so hard to tell which way atm..

Attachment
man i couldnt agree more, trading eu right now, would have to be the worst possible time, that Ive seen for some time
attached 1hr chart, clearly sideways for some time within the bigger range, forming a number of mini ranges, but man right now she going nowhere right in the middle of the bigger range,

if you want to trade eu in asian session today, pa is sceaming go to the beach

ironically if you go daily and zoom out, the last time eu was at these levels she printed almost an identical range

asian session really need to be looking at asian/pacific prs, eg. todays aussie data produced a decent move, and withou being big headed, quite an easy trade

just some friendly advice, if you want to try trade this shitty pa, it will send you crazy
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1hr 22 1 2013.jpg Size: 72 KB
If you are new to Forex? Say Goodbye to your account!!
  • #748,974
  • Jan 22, 2013 8:54pm Jan 22, 2013 8:54pm


http://primuspersada.com/images/upwg.png
Patience Pays
  • #748,975
  • Jan 22, 2013 8:59pm Jan 22, 2013 8:59pm
Quoting Trade2Day
My current position...

Looking for break from range & triangle to the downside.
If one wanted to get frisky they could also target 1.3140~

Maybe take partial profit at #1 and let the rest roll for #2.

Note: This would increase the Reward:Risk ratio to greater than 1:1.
Attached Image (click to enlarge)
Click to Enlarge Name: trade2day chart 1-22-13.jpg Size: 107 KB
  • #748,976
  • Jan 22, 2013 9:02pm Jan 22, 2013 9:02pm
kinda looking like, yes, mid 3340ish is where they're pointing this at.
  • #748,977
  • Jan 22, 2013 9:04pm Jan 22, 2013 9:04pm
Quoting ec_creep
kinda looking like, yes, mid 3340ish is where they're pointing this at.
Who are "they"?
  • #748,978
  • Jan 22, 2013 9:11pm Jan 22, 2013 9:11pm
Quoting 2+2=4ex
Who are "they"?
tokyo..
a noob here, btw, best should be taken for granted =)
  • #748,979
  • Jan 22, 2013 10:32pm Jan 22, 2013 10:32pm
Quoting KiwiTrada
man i couldnt agree more, trading eu right now, would have to be the worst possible time, that Ive seen for some time
attached 1hr chart, clearly sideways for some time within the bigger range, forming a number of mini ranges, but man right now she going nowhere right in the middle of the bigger range,

if you want to trade eu in asian session today, pa is sceaming go to the beach

ironically if you go daily and zoom out, the last time eu was at these levels she printed almost an identical range

asian session really need to be looking...


even yen prs looking bettr than this trollop
If you are new to Forex? Say Goodbye to your account!!
  • #748,980
  • Jan 22, 2013 10:41pm Jan 22, 2013 10:41pm
EU

http://s9.postimage.org/sh3brvnr3/EURUSD.png
Trade your plan.
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