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Trading EURUSD only

  • #42,861
  • Apr 12, 2013 10:18am Apr 12, 2013 10:18am
Quoting mangaradja
sounds nice system you build, I will try it next week and great thanks for sharing "your holy grail" to us in this forum
You are welcome brother. I hope it works for you as it has for me.

REMEMBER to always trade small and then you can stand tall when Ms Market moves against you.
Trade smaller than rational because the market is irrational...
  • #42,862
  • Apr 12, 2013 11:02am Apr 12, 2013 11:02am
short @ 92
Trade smaller than rational because the market is irrational...
  • #42,863
  • Apr 12, 2013 11:05am Apr 12, 2013 11:05am
Quoting EuroTraderJD
You are welcome brother. I hope it works for you as it has for me. REMEMBER to always trade small and then you can stand tall when Ms Market moves against you.
so what max % of equity, do you trade?
  • #42,864
  • Apr 12, 2013 11:57am Apr 12, 2013 11:57am
Quoting mangaradja
so what max % of equity, do you trade?
That depends on the number of open postions, and where E is at in my Min/Max range.

When E was at 1.37 my biggest position was 1.39% The reason it wasnt bigger is because I had 26 shorts from 1.21xx

If I didnt have that many open shorts (which were a result of me finding a TA set up that worked BEFORE I discovered the 5&15 I gleamed from 1 veteran trader who let it slip and RSI3 from ConnersRSI) the percentage would have been higher.

The biggest position I have had with this system was 2% Again brother I approach FX not as a cash cow or get rich over night. "Its a walk to wealth not a race to riches (ruin)"

I have stated many times traders who want to trade full time would be able to if they approched the markets as a career. How many years do we work in a lousy job 10,20,30,40,50 to have sh*t in one hand and poop in the other.

If you traded for 10 years walking to wealth you would have more money than if you retired.

Lets do the math.

5% a day account growth doubles the account in 2 weeks approx (this is crazy and unrealistic IMO)

2% a day account growth doubles the account in 1 month approx (Possible but tough who needs that kind of pressure which leads to mistakes)

1% a day account growth doubles the account in 2 month approx. (now we are talking)

0.5% a day account growth doubles the account in 4 month approx. (this is what I strive for)

There were many times I did more than the 2% but got a few big runners.
Trade smaller than rational because the market is irrational...
  • #42,865
  • Apr 12, 2013 12:04pm Apr 12, 2013 12:04pm
That short @92 is looking good now ITM +9 and counting

See I was wrong when I said usually E has a melt up at the end of the day. I put my thinking aside and trade what the indos told me. Most of the time Mr Indo & Co. is right. Sometimes not so right but MM lets me survive until Ms Market vindicates my positions.

The other day I got crucified here for saying I had a long @56 and a short @52.

I blew a gasket when some said I was basically gambling, hedging or was genuinely full of crap.

#1 I never gamble not with my money or yours.

#2 the entries were close because of the dismal PA so a long and short got triggered.

#3 these were not hedges against each other. The short was much larger than the long and each has to stand own its own.

#4 both ended up winners. The long I cashed out for +50 pips and the short this morning for +3

I am not ashamed to take a 1 pip win. A win is a win and lets me get in at a better level which I did now @92
Trade smaller than rational because the market is irrational...
  • #42,866
  • Apr 12, 2013 12:16pm Apr 12, 2013 12:16pm
Quoting EuroTraderJD
That short @92 is looking good now ITM +9 and counting See I was wrong when I said usually E has a melt up at the end of the day. I put my thinking aside and trade what the indos told me. Most of the time Mr Indo & Co. is right. Sometimes not so right but MM lets me survive until Ms Market vindicates my positions. The other day I got crucified here for saying I had a long @56 and a short @52. I blew a gasket when some said I was basically gambling, hedging or was genuinely full of crap. #1 I never gamble not with my money or yours. #2 the...
made some shorts @97 since hanging man and marubozu stand side by side in 5m, one closed @77: 20 pips green
  • #42,867
  • Apr 12, 2013 12:31pm Apr 12, 2013 12:31pm
Sorry brothers I posted this on the wrong EUR forum. It was meant for the one with the rough crowd
Trade smaller than rational because the market is irrational...
  • #42,868
  • Apr 12, 2013 12:31pm Apr 12, 2013 12:31pm
Quoting mangaradja
made some shorts @97 since hanging man and marubozu stand side by side in 5m, one closed @77: 20 pips green
Nothing like Green Pips. It is addicting. Well done bro
Trade smaller than rational because the market is irrational...
  • #42,869
  • Apr 12, 2013 12:41pm Apr 12, 2013 12:41pm
*CFTC: Net Euro Short Position $8.3 Billion, Decreases 21%
Trade smaller than rational because the market is irrational...
  • #42,870
  • Apr 12, 2013 1:45pm Apr 12, 2013 1:45pm
If anyone follows the COT here is a website with eye candy

http://cotbase.com/

Euro menu is on the left.
Trade smaller than rational because the market is irrational...
  • #42,871
  • Apr 12, 2013 1:48pm Apr 12, 2013 1:48pm

  1. US retail sales negated an early NY rally to 1.3070, EUR/USD hit low 1.3036
  2. Confluence of support too much for bears to overcome (More)
  3. Bulls encouraged as the pair fails to break back below 1.3040
  4. Also, it put in a daily candle with a long lower wick
  5. Resistance at 1.3140/65 remains a key hurdle for longs

Trade smaller than rational because the market is irrational...
  • #42,872
  • Apr 12, 2013 1:50pm Apr 12, 2013 1:50pm
Weekly Techs

http://www.dailyfx.com/forex/technic...g_Pattern.html
Trade smaller than rational because the market is irrational...
  • #42,873
  • Apr 12, 2013 3:07pm Apr 12, 2013 3:07pm
Hey guys I don't know If QatariMan will approve this post, but i just wanted to draw your attention to this guy so we can all applause his success on FX trading. I bow to this
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Hopefully soon enough we will say ... there is this guy i wrote with ... he became a millionaire in less than a month!
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #42,874
  • Apr 12, 2013 3:18pm Apr 12, 2013 3:18pm
not bad. Congrats ! this is money i am looking to pull out my next winner too. but i swing trade and risk max 20 k or so.
  • #42,875
  • Apr 12, 2013 3:29pm Apr 12, 2013 3:29pm
This was my comment. Remember I am strong on MM and this type of trading is doomed to fail.

Brother God Bless you but with that kind of weekly return you are either a market genius or very over leveraged.

I pray you do not end up with 0 Euros by the end of the week/month/year.

Better than you and me have tried to make consistent returns like this. They are now found in the graveyard of busted accounts.
Trade smaller than rational because the market is irrational...
  • #42,876
  • Apr 12, 2013 3:32pm Apr 12, 2013 3:32pm
And this

Quoting Qatari man
it was 1:888 then it become 1:500 and today become 1:200 because amount cross 400,000 euro

Brother I am glad you took a clip of it for memories I hate to say it but kiss you account good bye.

1:200 is insanity. I will not comment on the rest.

One decent gap down if long and most of your winnings will be history.

But hey what the Hell do I know. It only happened to me a couple of times till I wised up.
Trade smaller than rational because the market is irrational...
  • #42,877
  • Apr 12, 2013 6:45pm Apr 12, 2013 6:45pm
Hey all.

Will definitely start posting here again (my favorite thread).

I now start my trading day 1 1/2 hr before NY open (instead of London open) and end it with NY closing bell, so those will be the times I am posting intra-day charts.

As for EURUSD, still very bullish but will be retracing next week to 3040. If 3040 cannot hold, hidden divergence will fail on the daily, and EURUSD could bleed to 2975 before continuing bull (hidden divergence on daily, needs pierce of 2740 which wont happen).

After it continues bull, it will go for the double top and likely achieve it next week, as the weekly will be primed and ready for bearish hidden divergence (after next weeks close).

The only way to invalidate this hidden divergence will be to pierce the last swing high 3709. since that is guaranteed not to happen before weekly momentum turns down, there should be a very low risk short coming --- not next week but week after.
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Be hopeful in a winning position, and fearful in a losing position.
  • #42,878
  • Apr 12, 2013 7:00pm Apr 12, 2013 7:00pm
Quoting EuroTraderJD
This was my comment. Remember I am strong on MM and this type of trading is doomed to fail. Brother God Bless you but with that kind of weekly return you are either a market genius or very over leveraged. I pray you do not end up with 0 Euros by the end of the week/month/year. Better than you and me have tried to make consistent returns like this. They are now found in the graveyard of busted accounts.
I completely agree with this. High leverage trading isn't doomed to fail necessarily, but risking 20% of your account per trade surely will fail (I can say with 99.9% certainty) in the long run. Risking 5% of your account is actually sustainable, just very difficult to do so.

All smart traders should know that if they wish to attempt high leverage trading, there is no reason to start with more than $100. Even when I try to run up small accounts using a meager 10:1 leverage, I still only deposit a maximum of $1000 (1% risk per 10 pips). When I attempt 100:1 leverage run ups, I never start with more than $100-$200.


Why start with $1000 or $10,000 if you are going to be over leveraging? You don't need to use that much. 15% per week compounded for 1 year turns $100 into $100,000. 2 years its $100 million (theoretical of course). So why start with more? If the trader fails at over leveraging (which they probably will), then they only will lose $100, not $1000 or $10,000 (or whatever). If they are successful, then they are rich.


Just for an idea of how important money management is to me:

My biggest account risk 0.05% monthly start balance + 5% of monthly profits as my half sized position (so full size is double that contract size).
My medium size accounts risk 0.50% monthly start balance + 5% of monthly profits as a half size position
My small size accounts risk 5% monthly start balance + 5% of monthly profits as a half size position
Be hopeful in a winning position, and fearful in a losing position.
  • #42,879
  • Apr 12, 2013 9:00pm Apr 12, 2013 9:00pm
Brother AMEN and AMEN to heaven above!!!

It not magic but common sense.

What is left to say its just math the purest principle, You get it and I get but I fear the rest of the E FX community does not get it to their own destruction. This type of flash in the pain gain is nothing to admire.

I am done a fool and their money will go their separate ways....Time will tell if I am right or full of sh*t
Trade smaller than rational because the market is irrational...
  • #42,880
  • Apr 12, 2013 9:05pm Apr 12, 2013 9:05pm
Regardless I remain true to the course it is a Walk to Wealth Not a Race to Riches (ruin) even if I walk alone. My consistent pips will comfort me
Trade smaller than rational because the market is irrational...
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