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  • #774,401
  • Mar 19, 2013 4:27pm Mar 19, 2013 4:27pm
i've seen a fair amount of "shady" actions in this business but that 19:00 gmt candle is right up there.

reminds me of all the news reports concerning the greek bailout. its on, its off, its on....all the while the big boys are making money with bs news flashes.

people wonder why forex trading has such a bad reputation, this is a prime example of why.
  • #774,402
  • Mar 19, 2013 4:31pm Mar 19, 2013 4:31pm
W1 CT
MA 8,16,32,64,128,256,512,1024
binary
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  • #774,403
  • Mar 19, 2013 4:33pm Mar 19, 2013 4:33pm
Quoting godrich
i've seen a fair amount of "shady" actions in this business but that 19:00 gmt candle is right up there.

reminds me of all the news reports concerning the greek bailout. its on, its off, its on....all the while the big boys are making money with bs news flashes.

people wonder why forex trading has such a bad reputation, this is a prime example of why.
I think some lost money too, since it was faded away, very quickly. Those news sniffing algos also don't win all the time.
Anyway I can't see Draghi on next meeting reacting to this when asked, he will crack some jokes I'm sure. he is so funny. (but i hate him too like all banksters)
"You're solid gold, see you in hell"
  • #774,404
  • Mar 19, 2013 4:34pm Mar 19, 2013 4:34pm
.
Quoting stevewalker
honestly
when listenning bloomberg
we dont need anything to move any direction
they are talking direct central bank actions

told you months ago
2013 will be thouhest year to trade
  • #774,405
  • Mar 19, 2013 4:35pm Mar 19, 2013 4:35pm
.
Quoting stevewalker
now merkel
are you going to shoot cyprus out.

you are about to loose the battle against russia

where do I remember that before

WWII
  • #774,406
  • Mar 19, 2013 4:35pm Mar 19, 2013 4:35pm
Quoting KiwiTrada
Stopped?
http://assets.forexfactory.net/nfs/c...ar176745_3.gif kbmoonshinex
Hiroshima and Nagasaki





next 124 easy could be

pa @ 123 56 - next 4hrs was virtical dive to 121 82

suprise surprise no retrospective "scalps" posted, If a drive from 123 56 to 124 00 was going to be easy, surley would have tried at least 1 trade, aw shit, thats right only post retrospective trades that are already green and almost complete

Next "just closed +60. and catch again "

Attached Thumbnails
http://www.forexfactory.com/attachme...1&d=1363720582


and the proverbial this is "easy"

then this

http://assets.forexfactory.net/nfs/c...ar176745_3.gif kbmoonshinex
Hiroshima and Nagasaki



Posted by FXThug
not easy for me at all



"first we need to see 122.80. then 125.30 i have as a target."

then -

another scalp. l Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1363723865



ooops stopped and possibly another vertical fall??

guess will disappear until her rally again, then will be more "retrospective" "easy" "scalps", little odd with the easy target above , and yet no easy trades being posted

verbal diarhea
If you are new to Forex? Say Goodbye to your account!!
  • #774,407
  • Mar 19, 2013 4:37pm Mar 19, 2013 4:37pm
.
Quoting stevewalker
I am flat & not trading those manic hours

cyprus even leave EU zone in hours
  • #774,408
  • Mar 19, 2013 4:41pm Mar 19, 2013 4:41pm
Quoting godrich
i've seen a fair amount of "shady" actions in this business but that 19:00 gmt candle is right up there.

reminds me of all the news reports concerning the greek bailout. its on, its off, its on....all the while the big boys are making money with bs news flashes.

people wonder why forex trading has such a bad reputation, this is a prime example of why.
I can't agree more mate, a few things I can suggest from my experience so far:

- During such political/news driven times reduce the trading lot size which means reduce the leverage you would normally use while trading

- Avoid trading after London closes, NY traders have different objectives than London and Asia since equity markets mainly futures still affect the PA of major currencies

- Also again avoid trading during US since, the liquidity drops tremendously and a few "rumour factory" news as well as a few institutions' orders can cause spikes which may hurt your position if you are using a high leverage say more than 1:25.

I hope you didn't have a bad day mate. I have done pretty well for myself today and I expect PA to be slow tomorrow since there was some pretty wild action today, usually it takes a breather to make the next move so will trade less or nothing tomorrow.

It is a tough business, very tough indeed.

Have a good one...!
  • #774,409
  • Mar 19, 2013 4:46pm Mar 19, 2013 4:46pm
binary MA s
8 to 1024
1H to M1
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  • #774,410
  • Mar 19, 2013 4:50pm Mar 19, 2013 4:50pm
Quoting math_GB
I can't agree more mate, a few things I can suggest from my experience so far:

- During such political/news driven times reduce the trading lot size which means reduce the leverage you would normally use while trading

- Avoid trading after London closes, NY traders have different objectives than London and Asia since equity markets mainly futures still affect the PA of major currencies

- Also again avoid trading during US since, the liquidity drops tremendously and a few "rumour factory" news as well as a few institutions' orders can cause...
hey mgb

glad you had a good day, mine was not too bad. of course not perfect like some of our 100% winner traders here

just winds me up to see bs like that which happened today, makes this business look about as legit as a carnival game.

i have been fairly successful with trading ny as i always enter the session with the mindset of "how will ny try to screw the traders" and it seems to work more than it loses.

anyway thanks for the tips, better to learn for free than pay with account balance.

best of luck to you and yours
  • #774,411
  • Mar 19, 2013 5:01pm Mar 19, 2013 5:01pm
Quoting math_GB

It is a tough business, very tough indeed.

Have a good one...!
AMEN.

Life replicates trading...only the strong survive.
Trade smaller than rational because the market is irrational...
  • #774,412
  • Mar 19, 2013 5:04pm Mar 19, 2013 5:04pm
Quoting EuroTraderJD
AMEN.

Life replicates trading...only the strong survive.
more like trading replicates marriage...only the strong survive. the rest are crushed little by little until nothing is left.
  • #774,413
  • Edited 5:18pm Mar 19, 2013 5:04pm | Edited 5:18pm
Quoting godrich
hey mgb

glad you had a good day, mine was not too bad. of course not perfect like some of our 100% winner traders here

just winds me up to see bs like that which happened today, makes this business look about as legit as a carnival game.

i have been fairly successful with trading ny as i always enter the session with the mindset of "how will ny try to screw the traders" and it seems to work more than it loses.

anyway thanks for the tips, better to learn for free than pay with account balance.

best...
You know as well as I do, that is pure bull shite...! I had dinner with a bunch of city traders yesterday and I am questioning whether I am a genius trader or what. The guys are telling me, best years they have around 15-20 % return per year and that is considered a tremendous PnL... They told me some stories how some desks have been easily wiped out due to some unexpected news and/or an algo "went bad"

No one mate, absolutely no one can get every trade right, it is literally impossible. I am laughing my ass off when I see some of the punks here posting their succesful trades non-stop, it is pure ego satisfaction nothing more.

Some traders can do well in a ranging market some in a directional and guess what again not all the time. One of the chap has been trading at London Wall since 1995, the guy looks like an alien, using 10s of pills to keep his health, currently still trading as a desk manager and working only six hours a day not a single minute more. He basically reasoned this as there is no point in fighting the market, I know I can't beat it around the bush, the more I am on the field the more likely some smart ass will pinch my caucasian bum Which, when you think about it is true in may ways. I seriously consider to trade less and take a few days during the week off. I do not wish to be the richest stiff in the cemetary...
  • #774,414
  • Mar 19, 2013 5:11pm Mar 19, 2013 5:11pm
Quoting math_GB
You know as well as I do, that is pure bull shite...! I had dinner with a bunch of city traders yesterday and I am questioning whether I am a genius trader or what. The guys are telling me, best years they have around 15-20 % return per year and that is considered a tremendous PnL... They told me some stories how some desks have been easily wiped out due to some unexpected news and/or an algo "went bad"

No one mate, absolutely no one can get every trade right, it is literally impossible. I am laughing my ass off when I see some of the punks...
been thinking the same thing myself. i'm pretty sure at the rate i'm going i'll be looking like that alien you had dinner with, h*ll i probably already do

with that being said i better get myself to bed, good night all...
  • #774,415
  • Mar 19, 2013 5:16pm Mar 19, 2013 5:16pm
uj bull about to go hyper again?
  • #774,416
  • Mar 19, 2013 5:39pm Mar 19, 2013 5:39pm
Quoting godrich
more like trading replicates marriage...only the strong survive. the rest are crushed little by little until nothing is left.
LOL Maybe I should hedge with a concubine....
Trade smaller than rational because the market is irrational...
  • #774,417
  • Mar 19, 2013 5:56pm Mar 19, 2013 5:56pm
Quoting math_GB

No one mate, absolutely no one can get every trade right, it is literally impossible. I am laughing my ass off when I see some of the punks here posting their succesful trades non-stop, it is pure ego satisfaction nothing more.
I am probably wasting my time responding but my FX brother I hope to hell you are not talking about me.....

I dont have anything to prove except to show if you have proper MM it can be done just like a bankster. There are alternatives to the comon mentality of SL. I am not knocking them because if that is the only form of MM you have then go for it. I did and regretted it but then again I am different and get paid to think outside the box.

If you dont use SL and trade with proper MM in a pyramid formation both long and short it is possible to have all wins. I have been doing it since 10/2011.

1100+ wins and 9 loses. I posted previously where the 9 loses came from (mouse and trading platform mistake)

Not using a SL with proper MM means you can survive having the market move against you until you are vindicated and still trade long and short in the meantime. Dont go crazy with size and try to be a millionare in a week. Think long term walk to wealth..

The indos could be wrong, the timing can be wrong, the analysis could be wrong but the market trades in a WIDE range on the LT chart clearing out any "danglers as I call them" over time.

Math is in your name so lets do some. If you calibrate a program for price extremes, design an algorithm that takes that into consideration with your current risk you will never get a MC if you follow the software recommendations.

If your friends only achieve minimal results and think that is the norm then please tell my why Goldman Sacs, JPM and others can go months and months without a losing trade? The big traders are nothing but Bankster Shark food....
Trade smaller than rational because the market is irrational...
  • #774,418
  • Mar 19, 2013 5:59pm Mar 19, 2013 5:59pm
Quoting EuroTraderJD
I am probably wasting my time responding but my FX brother I hope to hell you are not talking about me.....

I dont have anything to prove except to show if you have proper MM it can be done just like a bankster. There are alternatives to the comon mentality of SL. I am not knocking them because if that is the only form of MM you have then go for it. I did and regretted it but then again I am different and get paid to think outside the box.

If you dont use SL and trade with proper MM in a pyramid formation both long and short it is possible...
Only way you can trade with 100% success from every trade is to have an account with 6 figures plus and trade relatively small lots sizes. You may need to sit on a negative for a year at times but each trade will show a return eventually.

Unless you do stupid stuff like 'go short on GBPUSD at 1.35 etc'
Money never sleeps...
  • #774,419
  • Mar 19, 2013 6:00pm Mar 19, 2013 6:00pm
Oh that short I put on that went -90 for a sec during a spike is now ITM... I am glad I didnt get stopped out just to have Ms Market come visit where we left off. Hey and I still have all my equity well imagine that.
Trade smaller than rational because the market is irrational...
  • #774,420
  • Mar 19, 2013 6:02pm Mar 19, 2013 6:02pm
Quoting EuroTraderJD
Oh that short I put on that went -90 for a sec during a spike is now ITM... I am glad I didnt get stopped out just to have Ms Market come visit where we left off. Hey and I still have all my equity well imagine that.

Those who know the Tao need never speak of it, those who speak of it do not know it....
Money never sleeps...
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