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  • #772,861
  • Mar 17, 2013 10:27pm Mar 17, 2013 10:27pm
Quoting 5percent
with both respect, attach te , save talks, less arguing. We are just curious, u can close off those important infos. or remove te within 1-2 hours. i don't doubt that going long and short is workable, i have seen some but those are not long and short from same point, they are at least 100 pips apart and balance in green. while having a green one, they hedge it , sometimes quite complex. So i rather stick with a trading plan and a stop loss.
agreed it is workable, but requires very good planning and execution, I think all no stop loss traders are fuk brokers, trying to encourage suicide practice, trader always lose broker always win go figure, generally traders no sl come here boast how easy trading is, how stupid it is to have sl, then disappear until new batch posters come alongg, then out wood work they come, rinse & repeat

Cable 1hr chart

Has been in a major violent bear train, hit reasonable resistance and has reacted, my long is a countertrend trade, but I am trying to play both ways, if that is a inverted H&S to the left, my long will become long term anchor, however I am also interested in the reaction at the present resist, and attacked, each trade sl risk was countered by the long, which allow me to be extra agreesive (remembering the violent bear train is still valid)

Presently pa could be printing a H&S so I am on sidelines until either head is breached or Fridays rally is countered, I prefer bear train daily keep going, but wary this rally could become genuine

Anyway agree counter trading can work, but need very good planning, this trade plan was started Wednesday last week
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If you are new to Forex? Say Goodbye to your account!!
  • #772,862
  • Mar 17, 2013 10:28pm Mar 17, 2013 10:28pm
Quoting TraderPablo
But U do that in separate accounts as to avoid fifo....??
nope. I'm with citi. it's a bank and so no fifo or no hedging crap.. I can trade anyway I want.
  • #772,863
  • Mar 17, 2013 10:28pm Mar 17, 2013 10:28pm
Quoting LeeNoa
eu gap so bigs...
now testing my last TP eu on demo account....ive got signal from usdchf last week....set tp @3113
that why i got this.
those who can, do. those who cant, talk about those who can
  • #772,864
  • Mar 17, 2013 10:28pm Mar 17, 2013 10:28pm
Quoting EuroTraderJD
I wish I did I would give everyone a heads up.

What I dont know and what I did ask you several times about your MM and I hear crickets....

But I know what Big Ben does through FA, TA, and PA. This is why MM is key. You know the MM you dont have but mock mine>

Tell me genius what do you know about how large investment banks trade?
I already answered your question several posts back but you weren't paying attention apparently. Go take a look. As far as how investment banks trade, I honestly don't know, but I do know that no bank is going to trade exactly the same way (otherwise we wouldn't have a market). I would think, however, that they look at order flow and try to find out where other institutions and banks are buying and selling.

If you are a trend follower and compound on your positions, that's all nice and well. But there's major flaw with that strategy. Money management by itself will never make you a cent without knowing where to buy and sell.
  • #772,865
  • Mar 17, 2013 10:29pm Mar 17, 2013 10:29pm
Quoting 2+2=4ex
It's amazing how amongst all the garbage and egotistical things you have said, you were able to produce this one great line. I just don't agree with your style of not taking losses. I believe entering and exiting based on probabilities is the best and most efficient method - for me at least. I am certain that I can compound my small gains more frequently and regularly than a trader who trades without a stop loss and wastes time and money in drawdown. It is a mathematical certainty. If you cannot calculate probabilities accurately then I suggest...
This is how I figure probability. Part of my software module. I wrote code to insert prices and then use STDEV and LOG It is a forumula used by insurance companies and won a Nobel prize
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Trade smaller than rational because the market is irrational...
  • #772,866
  • Mar 17, 2013 10:31pm Mar 17, 2013 10:31pm
Quoting Kanzler
I already answered your question several posts back but you weren't paying attention apparently. Go take a look. As far as how investment banks trade, I honestly don't know, but I do know that no bank is going to trade exactly the same way (otherwise we wouldn't have a market). I would think, however, that they look at order flow and try to find out where other institutions and banks are buying and selling.

If you are a trend follower and compound on your positions, that's all nice and well. But there's major flaw with that strategy. Money management...
Sorry if I missed your reponse. I am on 3 forums tonite and recieved a lot of POSITIVE repsones and questions.

MM is part of the trading tripod MM, TA, and FA.

MM may not make a cent by itself BUT IT PREVENTS LOSING IT ALL
Trade smaller than rational because the market is irrational...
  • #772,867
  • Mar 17, 2013 10:32pm Mar 17, 2013 10:32pm
Quoting stevewalker
if fight one on one, called fight
see you tomorrow
have a nice day mr steve
im off too...
  • #772,868
  • Mar 17, 2013 10:33pm Mar 17, 2013 10:33pm
Quoting EuroTraderJD
Sorry if I missed your reponse. I am on 3 forums tonite and recieved a lot of POSITIVE repsones and questions.

MM is part of the trading tripod MM, TA, and FA.

MM may not make a cent by itself BUT IT PREVENTS LOSING IT ALL
Yes but your previous posts heavily pushed the idea that money management is what makes you profitable.
  • #772,869
  • Mar 17, 2013 10:34pm Mar 17, 2013 10:34pm
Quoting attila
nope. I'm with citi. it's a bank and so no fifo or no hedging crap.. I can trade anyway I want.
trade spot or fx? i thought fifo applies to all us fx mrkts...??
  • #772,870
  • Mar 17, 2013 10:35pm Mar 17, 2013 10:35pm
Quoting LeeNoa
eu gap so bigs...
now testing my last TP eu on demo account....ive got signal from usdchf last week....set tp @3113
for the big ones
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those who can, do. those who cant, talk about those who can
  • #772,871
  • Mar 17, 2013 10:35pm Mar 17, 2013 10:35pm
Well it was nice bantering with you all. I had fun tonite.

I am not selling my software and you will not find ANY solicitation to do so. Its all mine for the time being.

Another thing there are worse things in life than getting banned here. The market and me will go on hand and hand.

Like Steve I am out of here and going to bed knowing I will have either long pips or short pips in the morning WITH NO SL and a loss on my account. Now that is sweet dreams.

I will be back sometime tomorrow between trading, programming for paying clients, and posting on other forums.

GL to all both wise and dumb
Trade smaller than rational because the market is irrational...
  • #772,872
  • Mar 17, 2013 10:38pm Mar 17, 2013 10:38pm
Quoting Kanzler
Yes but your previous posts heavily pushed the idea that money management is what makes you profitable.
It is. It tells me how much my pos should be so I dont over trade and avoid a price saturation zone. Since I dont use SL my MM has to be good. My record and profits speak for me.

If MM keeps me from losing it all then I am able to profit day in and day out. It all goes hand in hand.
Trade smaller than rational because the market is irrational...
  • #772,873
  • Mar 17, 2013 10:40pm Mar 17, 2013 10:40pm
Quoting TraderPablo
trade spot or fx? i thought fifo applies to all us fx mrkts...??
\Before I go I belive Pablo you asked about FIFO.

Yes I live in the US and am subject to this. Since I trade in a pyramid structure and my account grows having the same pos size doesnt happen due to the math.

Thank you
Trade smaller than rational because the market is irrational...
  • #772,874
  • Mar 17, 2013 10:44pm Mar 17, 2013 10:44pm
Quoting EuroTraderJD
Well it was nice bantering with you all. I had fun tonite.

I am not selling my software and you will not find ANY solicitation to do so. Its all mine for the time being.

Another thing there are worse things in life than getting banned here. The market and me will go on hand and hand.

Like Steve I am out of here and going to bed knowing I will have either long pips or short pips in the morning WITH NO SL and a loss on my account. Now that is sweet dreams.

I will be back sometime tomorrow between trading, programming for paying clients,...
Nothing personal but you said this forum could improve. Call me jaded, I have seen too many come by and do this.

Apart from that, I'm indifferent. Your trades profit you; that's awesome.

All the best!

JW
Not all sins are created equal
  • #772,875
  • Edited Mar 18, 2013 12:57pm Mar 17, 2013 10:51pm | Edited Mar 18, 2013 12:57pm
Quoting EuroTraderJD
I wish I did I would give everyone a heads up.

What I dont know and what I did ask you several times about your MM and I hear crickets....

But I know what Big Ben does through FA, TA, and PA. This is why MM is key. You know the MM you dont have but mock mine>

Tell me genius what do you know about how large investment banks trade?
I think you are confusing banks style of trading with retail trading. For starters, banks don't normally look to turn over positions as quick as retail day traders do. Banks usually enter positions over long periods of time. Many times they are just looking to hedge or offset exposure. You like to keep repeating that MM is the most important element for a day trader when it is not. It is important, but not more important than gauging market sentiment (aka calculating probabilites). You could have the best money management in place with terrible entries and you will still go broke eventually.

Also, I believe one of the largest misconceptions among retail traders is that not using a stop loss prevents you from losing. If you are not going to use a stop loss and assume large drawdowns, then your position sizes have to be tiny in relation to your account balance. The problem with tiny position sizes is that when you are right you make very little profit. When you are wrong you are left waiting long periods of time for the trade to turn around so you can... (say it with me now)... make very little profit. And if you add to the positions in drawdown they can accumulate and go further into drawdown which will reduce your account equity (and available margin) exponentially. Now you have even less money available to trade with! Hence the old proverb... risk pennies for dollars, not dollars for pennies.

So, again, the best and most efficient method is to gain a slight edge in probability and exploit it. You will have a boat load of stop outs, but if you are doing it correctly you will also have a boat load and a bucket worth of take profits. That difference (the bucket) is then added to the account balance and used to further compound the gains. This is where your saying comes in... "it is a walk to wealth, not a race to riches". With no stop loss approach, you are just running in place. Like running on a treadmill. Sweating and busting it to get nowhere [after time, opportunity cost and swap are accounted for].
  • #772,876
  • Mar 17, 2013 10:56pm Mar 17, 2013 10:56pm
Quoting EuroTraderJD
Before I go I belive Pablo you asked about FIFO.

Yes I live in the US and am subject to this. Since I trade in a pyramid structure and my account grows having the same pos size doesnt happen due to the math.

Thank you
k thx.
  • #772,877
  • Mar 17, 2013 10:57pm Mar 17, 2013 10:57pm
Shit, a guy just drove into my car a few hours ago.
I was turning right on a green light and this stupid dude was turning left from the opposite direction through a red light..
New voice message: Why are you calling me? If I need you, I'll call you!
  • #772,878
  • Mar 17, 2013 10:59pm Mar 17, 2013 10:59pm
Quoting SnaveForex
it opened below your sl so the will close it at that available market price which is below 2950
to be exact, my SL executed at 1.2908 this morning. I put SL @1.3045 and i long since 1.3075. Since i believed that Euro could climb to 1.3120 by today. altogether bring me -167 pips . And i still get another lost @ another pair. same story.

Quoting Ken A
It happens.
You will think otherwise if the gap over the weekend give you +200-300 pips. It works both ways.
Yupe, it is a very rare condition i think. last time weekend gap that i know is during Greece bailout scheme at 11 April 2010 which EU spiked up around 150 pips. Anyway i never have interest to trade based on weekend gap, never expect to gain profit or lose during the weekend. However, even i lost my money during this weekend, it doesn't mean i stop trading during friday . I do accept this as my risk to trade forex.

Quoting Ken A
We don't know his position size. The stopped out could be 10x than his normal size.
altogether my stoploss is less than 3% ---> to be exact around 2.7% per position (I had to position last friday) altogether i lost about ~15% from my last equity balance.
~
Quoting LeeNoa
yep...never trade last hour on friday again,...gap its so much-scary...kick out my 12% from total equity...one of my 10 account gone now
may be your strategy is a good choice for a weekend gap or any other unexpected price gap.

Quoting fahadzaman66
why market open with huge gap any body can explain why too much gap down ? what is main reason and you think this trend will continuous and down trend for eu and ej ? and what is target for ej today ?
because of cyprus crisis. u can read it on many website since it is a hot topic at the moment. I realize it yesterday within FF news at homepage.
Everything in the world has its own rhytms
  • #772,879
  • Mar 17, 2013 11:02pm Mar 17, 2013 11:02pm
Quoting KillerWhale
Shit, a guy just drove into my car a few hours ago.
I was turning right on a green light and this stupid dude was turning left from the opposite direction through a red light..
Thanks for sharing
Not all sins are created equal
  • #772,880
  • Mar 17, 2013 11:06pm Mar 17, 2013 11:06pm
this fits well for cyprus. they're coming for your savings account money www.youtube.com/watch?v=acLW1vFO-2Q
the world has lost its damn mind a whole nation of people is about to be robbed and their government is actually going to hold a vote on it !!! tell me im not dreaming this stuff up lol
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