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  • #58,881
  • Jun 6, 2013 6:53pm Jun 6, 2013 6:53pm
Quoting xandi
{quote} no, I was not building on early May!! I was on vacation, catching avocados on Tenerife when I say oversold, Iīm not refering to any indicator, Iīm referring to the fact price went down very fast, with tight retrace (yes, even with pyramid you could that jump off near Breakven).so now itīs the time, it might happen as in July 2008, but donīt seem to be the case..if so, I will jump off in any Breakeven after reinforcing basis. once more, depends on your margin, you have to adjust the Lot size to margin: {image}
Thanks
  • #58,882
  • Jun 6, 2013 6:55pm Jun 6, 2013 6:55pm
Quoting xandi
{quote} no, I was not building on early May!! I was on vacation, catching avocados on Tenerife when I say oversold, Iīm not refering to any indicator, Iīm referring to the fact price went down very fast, with tight retrace (yes, even with pyramid you could that jump off near Breakven).so now itīs the time, it might happen as in July 2008, but donīt seem to be the case..if so, I will jump off in any Breakeven after reinforcing basis. once more, depends on your margin, you have to adjust the Lot size to margin:
hi xandi
i am trying to understand this pyramid strategy
do you only "build" the pyramid if the price moves against you?
for example i understand you have gone long right now with a 0.2 size
will you be happy to close this position with a 0.2 lot profit if the price moves north and your TP is hit?
i have always been told not to average down your positions so this is new to me
  • #58,883
  • Jun 6, 2013 7:13pm Jun 6, 2013 7:13pm
Quoting flash4
{quote} hi xandi i am trying to understand this pyramid strategy do you only "build" the pyramid if the price moves against you? for example i understand you have gone long right now with a 0.2 size will you be happy to close this position with a 0.2 lot profit if the price moves north and your TP is hit? i have always been told not to average down your positions so this is new to me
yes, exactly as you describe...I understand itīs new, so it might be new to a lot of traders "being profitable, with consistency"...the price is elastic, acts in waves...someone quote that there were strategy similar on sports gambling!! the only difference itīs that in sports, result can be win for one team 10 times in a row...in here that not happen..but donīt make any confusion, forex is like gambling!!
  • #58,884
  • Jun 6, 2013 7:36pm Jun 6, 2013 7:36pm
Quoting xandi
{quote} yes, exactly as you describe...I understand itīs new, so it might be new to a lot of traders "being profitable, with consistency"...the price is elastic, acts in waves...someone quote that there were strategy similar on sports gambling!! the only difference itīs that in sports, result can be win for one team 10 times in a row...in here that not happen..but donīt make any confusion, forex is like gambling!!

you will blow your account like this... no questions about it.
  • #58,885
  • Edited 8:05pm Jun 6, 2013 7:47pm | Edited 8:05pm
Quoting domino
{quote} you will blow your account like this... no questions about it.
weīll be here to see that..meanwhile, keep taking note of results!
  • #58,886
  • Jun 6, 2013 8:18pm Jun 6, 2013 8:18pm
Quoting xandi
ok, time to start building the pyramid again!!! itīs like construction workers Long 9550 = 0.2 Lot TP already in place = 9630
Iīve change TP to 9620, 70 pips. weekly candle openned on 9604, price will be around that tomorrow!
going sleep, take care
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  • #58,887
  • Jun 6, 2013 8:34pm Jun 6, 2013 8:34pm
Let's not build a pyramid -let's just trade and make money! Rather spend $300 on a bottle of wine than waste money this way.
  • #58,888
  • Jun 6, 2013 8:36pm Jun 6, 2013 8:36pm
Quoting adamcox
Let's not build a pyramid -let's just trade and make money! Rather spend $300 on a bottle of wine than waste money this way.
I wonder how effective "pyramids" are. Nothing wrong with adding legs, but I wonder if traders use it as a martingale strategy. "well my .5 lot is under water here, I'll add 1 lot 40 pips lower, and 1.5 lots 30 pips lower....'
When the facts change I change my mind, what do you do sir
  • #58,889
  • Jun 6, 2013 8:50pm Jun 6, 2013 8:50pm
Quoting Pip Anon
{quote} I wonder how effective "pyramids" are. Nothing wrong with adding legs, but I wonder if traders use it as a martingale strategy. "well my .5 lot is under water here, I'll add 1 lot 40 pips lower, and 1.5 lots 30 pips lower....'
it may work..
having a strategy is better than no strategy at all.

double up or nothing..

that strategy work best if we are near bottom..
obviously its not a good idea if you start at the top, that is stupid.. imagine if you start from 1.06..
you would have maybe 20lots open with average price of 99?

you can get a heart attack!
  • #58,890
  • Jun 6, 2013 9:02pm Jun 6, 2013 9:02pm
Quoting HelloOz
{quote} it may work.. having a strategy is better than no strategy at all. double up or nothing.. that strategy work best if we are near bottom.. obviously its not a good idea if you start at the top, that is stupid.. imagine if you start from 1.06.. you would have maybe 20lots open with average price of 99? you can get a heart attack!

True, but you are betting on the assumption it will go up or just gambling double or nothing. imagine trying that on Aussie all the way down.

I feel you should only add to winners 98% of the time
When the facts change I change my mind, what do you do sir
  • #58,891
  • Jun 6, 2013 9:03pm Jun 6, 2013 9:03pm
Quoting Pip Anon
{quote} True, but you are betting on the assumption it will go up or just gambling double or nothing. imagine trying that on Aussie all the way down. I feel you should only add to winners 98% of the time
yes that will be gambling
but Xandi knows what he is doing.. not a gambler IMO
he can read chart well..
  • #58,892
  • Jun 6, 2013 9:08pm Jun 6, 2013 9:08pm
Quoting HelloOz
{quote} yes that will be gambling but Xandi knows what he is doing.. not a gambler IMO he can read chart well..
I know I have read his posts. It's just the way I think of it that it's like you are always adding to a losing trade at least in real-time. I know in well placed areas it can be useful for sure.

It's important to have a bevy of strategies
When the facts change I change my mind, what do you do sir
  • #58,893
  • Jun 6, 2013 9:08pm Jun 6, 2013 9:08pm
Pyramiding is only effective for winning trades. Never pyramid a losing trade.

As I said earlier, downtrend is resuming. Hope you guys didn't hold those longs.

Good luck!
  • #58,894
  • Jun 6, 2013 9:26pm Jun 6, 2013 9:26pm
Quoting Pip Anon
{quote} I wonder how effective "pyramids" are. Nothing wrong with adding legs, but I wonder if traders use it as a martingale strategy. "well my .5 lot is under water here, I'll add 1 lot 40 pips lower, and 1.5 lots 30 pips lower....'
Be careful.. Do you have SL?

because 3 lots going south is a lot worse than 0.5
Even the worst trade can close with profit. Just give it time.
  • #58,895
  • Jun 6, 2013 9:27pm Jun 6, 2013 9:27pm
Quoting Pharm0r
Pyramiding is only effective for winning trades. Never pyramid a losing trade. As I said earlier, downtrend is resuming. Hope you guys didn't hold those longs. Good luck!
I love yen lol. Made 60 pips in 20M on GBPJPY
When the facts change I change my mind, what do you do sir
  • #58,896
  • Jun 6, 2013 9:39pm Jun 6, 2013 9:39pm
Quoting Pip Anon
{quote} I love yen lol. Made 60 pips in 20M on GBPJPY
Just imagine if you were a TURTLE

and actually knew what you were doing

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It takes a lot for me to IGNORE you, but you can try.
  • #58,897
  • Jun 6, 2013 9:41pm Jun 6, 2013 9:41pm
Quoting Erebus
{quote} Just imagine if you were a TURTLE and actually knew what you were doing {image}
Hhaha, hey man this isn't the 80's and does anyone use Dochain channels? I am just fine. You did well, that's lovely.
When the facts change I change my mind, what do you do sir
  • #58,898
  • Jun 6, 2013 9:44pm Jun 6, 2013 9:44pm
Quoting Pharm0r
Pyramiding is only effective for winning trades. Never pyramid a losing trade. As I said earlier, downtrend is resuming. Hope you guys didn't hold those longs. Good luck!
you can lead a horse to water... but you cant stop him from blowing his account....
  • #58,899
  • Jun 6, 2013 9:56pm Jun 6, 2013 9:56pm
shorts are in green now. minimum target .938x
  • #58,900
  • Jun 6, 2013 10:02pm Jun 6, 2013 10:02pm
AU retrace so fast lol +50 pips
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