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  • #867,521
  • Jan 2, 2014 9:55pm Jan 2, 2014 9:55pm
Quoting Piters
{quote} lol.. Let's first retest 1.3710 ??
that would be good. if the test fail i load back short there. but the current PA does not seem to have steam. it looks like consolidation or a flag to go further down
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,522
  • Jan 2, 2014 10:01pm Jan 2, 2014 10:01pm
Quoting ffleo
{quote} that would be good. if the test fail i load back short there. but the current PA does not seem to have steam. it looks like consolidation or a flag to go further down
Normally, PA leaves its normal course / direction and comes to stay near a key level just prior to news release. After, the news release it either goes back to resume its previous course or takes the opposite direction. The recent data gives mixed results and therefore a range formation is possible.
The Thief of Wall Street
  • #867,523
  • Jan 2, 2014 10:01pm Jan 2, 2014 10:01pm
Quoting OctaveJay509
Happy New Year Everyone!!!!! I was so drunk and late. LOL!!!! It's time to start the new year with some fresh, new perspective to keep our trading simple..... There's one thing that i want you all to know, there's enough information out there for us to be successful, but "Keeping your EMOTIONS in check is all on YOU." May them Pips be with us this year!
keep emotion in check is very important to be successful in trading. when you lost you mind you cannot focus, cannot make the right decision, and you do revenge trading. in the end you lost all.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,524
  • Jan 2, 2014 10:04pm Jan 2, 2014 10:04pm
Quoting Chicky
{quote} Normally, PA leaves its normal course / direction and comes to stay near a key level just prior to news release. After, the news release it either goes back to resume its previous course or takes the opposite direction. The recent data gives mixed results and therefore a range formation is possible.
The million dollar question is where is the next key level where it will go and stay?

Choose one:
3832
3761
3742
3734
3698
3652
3650
3637
3630
3562
3539
3499
3472
The Thief of Wall Street
  • #867,525
  • Jan 2, 2014 10:06pm Jan 2, 2014 10:06pm
Quoting Chicky
{quote} Just out of curiosity, approximately how many trades you have placed using your this method and how many CONSECUTIVE losses you have experienced so far? Why I am asking you this is because I have experienced maximum of 52 consecutive losses in my trading career. With risk of 3% per trade, that would have washed my account, unless it was 3% of EQUITY BALANCE JUST PRIOR TO TAKING A POSITION. With about 1% risk per trade, my drawdown after these 52 consecutive losses was about 45%. With 3% risk per trade on equity balance just prior to taking...
your account would never go zero. 97% of 100 dollar is 97 dollar. 97% of 97 dollar is 94 dollar. 97% of 94 dollar is 91.27 dollar, and so on. it would never go to zero.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,526
  • Jan 2, 2014 10:08pm Jan 2, 2014 10:08pm
Quoting Chicky
{quote} Many say, 52 consecutive losses is sign of lousy method or a stupid trader, I am not sure about the later, but method is quite logical.
both.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,527
  • Jan 2, 2014 10:10pm Jan 2, 2014 10:10pm
Quoting ffleo
{quote} your account would never go zero. 97% of 100 dollar is 97 dollar. 97% of 97 dollar is 94 dollar. 97% of 94 dollar is 91.27 dollar, and so on. it would never go to zero.
Yes, I developed this using an accounting depreciation method "Diminishing Balance Method" or "Reducing Balance Method" which never lets accumulated depreciation to go equal to cost and the depreciable asset always remains in the books because book value never goes to zero. But that's least important, the question is how much maximum draw-down your method will give you? It should be within some tolerable boundaries so that one could come back.
The Thief of Wall Street
  • #867,528
  • Jan 2, 2014 10:10pm Jan 2, 2014 10:10pm
Quoting Chicky
{quote} The million dollar question is where is the next key level where it will go and stay? Choose one: 3832 3761 3742 3734 3698 3652 3650 3637 3630 3562 3539 3499 3472
What are we throwing darts at a dart board now??
All posts are my personal opinion
  • #867,529
  • Jan 2, 2014 10:10pm Jan 2, 2014 10:10pm
Quoting Chicky
{quote} Normally, PA leaves its normal course / direction and comes to stay near a key level just prior to news release. After, the news release it either goes back to resume its previous course or takes the opposite direction. The recent data gives mixed results and therefore a range formation is possible.
usually it comes to the middle of the trading session, or comes to the pivot of the trading session. On Friday, the price is mostly parked at the next session pivot.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,530
  • Jan 2, 2014 10:12pm Jan 2, 2014 10:12pm
Quoting milam
{quote} Yes yes, she told me that you are quite "tenace" and you do tend to not let go once you go a grip, I said "Tell me about!!!". I think she really like you, but you need to play your "candles" properly…. She asks me to send you this pic….please stay calm, your view of the charts is already a bit messed up, smudging further the screen would not help…. {image}

Devil!

How shall I trade now
  • #867,531
  • Jan 2, 2014 10:17pm Jan 2, 2014 10:17pm
Quoting ffleo
{quote} yeah when he suspended you and thereafter called you names, is it fair? You have too short memory milam. Last time you got your butt kicked by him it is your friends came here to stand on your back. I can see that you have short memory and soft backbones. Next time when he troll after you, pay compassion to him.

I do not have short memory, I mentioned this in my first post, you are the one at any chance insulting him cowardly with nasty words when he cannot defend himself , you should not do that, if you want to do it, do it when he can get back to you. The man was clearly in pain. I felt sorry for him. You were doing to him exactly what he does to others, I did not see any difference between you two……….. beside you would not have any chance with him if Infy and Garry did not step in.

I do not care that he suspended me, he knows what I am capable of when I get in his mood, I can take care of myself, I am not a soft bone and I do not need any support from a vile…….

Now if you do not mind….
Wherever you go, there you are.
  • #867,532
  • Jan 2, 2014 10:17pm Jan 2, 2014 10:17pm
Quoting Rtm
{quote} What are we throwing darts at a dart board now??
Show us a better way ..................... waiting.
The Thief of Wall Street
  • #867,533
  • Jan 2, 2014 10:20pm Jan 2, 2014 10:20pm
Quoting Chicky
{quote} Yes, I developed this using an accounting depreciation method "Diminishing Balance Method" or "Reducing Balance Method" which never lets accumulated depreciation to go equal to cost and the depreciable asset always remains in the books because book value never goes to zero. But that's least important, the question is how much maximum draw-down your method will give you? It should be within some tolerable boundaries so that one could come back.
you think 3% a trade is too big? if you use proper MM your win ratio will be bigger than 50% even if you set your target also at 3%. without any money management, you flip a coin, your win ratio is about 50%. with some money management on your losing trades, you still can get some money back.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,534
  • Jan 2, 2014 10:23pm Jan 2, 2014 10:23pm
Quoting ffleo
{quote} usually it comes to the middle of the trading session, or comes to the pivot of the trading session. On Friday, the price is mostly parked at the next session pivot.
Few of my lines say 1.3706 before the next move. It is 1.3709 less 3 pips
The Thief of Wall Street
  • #867,535
  • Jan 2, 2014 10:24pm Jan 2, 2014 10:24pm
Quoting Chicky
{quote} Show us a better way ..................... waiting.

You must learn to dance, play the levels in which price is most likely to go, what is the clearest path for price?
All posts are my personal opinion
  • #867,536
  • Jan 2, 2014 10:24pm Jan 2, 2014 10:24pm
Quoting infinitus
{quote} Devil! How shall I trade now
Take a short break and stay away from the screen….
Wherever you go, there you are.
  • #867,537
  • Jan 2, 2014 10:24pm Jan 2, 2014 10:24pm
Quoting Rtm
{quote} What are we throwing darts at a dart board now??

throwing darts at dart board is like to trade without money management. Once the the darts are off your hand you cannot control the darts any more. However, you can control your losing trade, manage it, to get some money back.

I would say money management is the most important factor in trading.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,538
  • Jan 2, 2014 10:30pm Jan 2, 2014 10:30pm
Quoting milam
{quote} I do not have short memory, I mentioned this in my first post, you are the one at any chance insulting him cowardly with nasty words when he cannot defend himself , you should not do that, if you want to do it, do it when he can get back to you. The man was clearly in pain. I felt sorry for him. You were doing to him exactly what he does to others, I did not see any difference between you two……….. beside you would not have any chance with him if Infy and Garry did not step in. I do not care that he suspended me, he knows what I am capable...
ok, let us move on. looks like you get a bit emotional now.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,539
  • Jan 2, 2014 10:33pm Jan 2, 2014 10:33pm
Quoting Rtm
{quote} You must learn to dance, play the levels in which price is most likely to go, what is the clearest path for price?
between levels. identify levels, if price gets rejected couple times when it approaches a level, it will go the opposite way to test the nearby levels.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #867,540
  • Jan 2, 2014 10:34pm Jan 2, 2014 10:34pm
Quoting ffleo
{quote} throwing darts at dart board is like to trade without money management. Once the the darts are off your hand you cannot control the darts any more. However, you can control your losing trade, manage it, to get some money back. I would say money management is the most important factor in trading.
Okay so please tell what is the difference between money management and risk management?
All posts are my personal opinion
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