Central Banks & Big Players | Page 540 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How do you know all the positions held by big players? 25 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Central Banks and Big Players: Slight change in code reqd 7 replies

Japanese housewives are wrecking the forecasts of big players! 25 replies

Big players and Forex 4 replies

Attachments: Central Banks & Big Players
Exit Attachments

Central Banks & Big Players

  • #10,781
  • Mar 7, 2014 8:52am Mar 7, 2014 8:52am
Quoting nitecop
So how much did all of you risk today for your nfp trade? Also Tony, i sitll don't get how much you risk I've seen posts where you say 98% but i've never really understood it Lol
17 pip SL on the UJ
  • #10,782
  • Mar 7, 2014 9:01am Mar 7, 2014 9:01am
Quoting nitecop
are you still in the trade tony or have you banked?

banked.... I have a dangerous behavior now, wanna buy loads of usd/cad... i'm on the edge.... i must not do it
Invest in alarm clocks
  • #10,783
  • Mar 7, 2014 9:01am Mar 7, 2014 9:01am
Quoting nitecop
Oh Lawd! {image} {image}
hahha
Invest in alarm clocks
  • #10,784
  • Mar 7, 2014 9:02am Mar 7, 2014 9:02am
Quoting nitecop
So how much did all of you risk today for your nfp trade? Also Tony, i sitll don't get how much you risk I've seen posts where you say 98% but i've never really understood it Lol

No... 98% use of leverage... at 1:50.... I will post what I mean tonight right now I'm hyperactive
Invest in alarm clocks
  • #10,785
  • Mar 7, 2014 9:03am Mar 7, 2014 9:03am
I'll be careful tonight I have to
Invest in alarm clocks
  • #10,786
  • Mar 7, 2014 9:03am Mar 7, 2014 9:03am
later guys God bless you
Invest in alarm clocks
  • #10,787
  • Mar 7, 2014 9:29am Mar 7, 2014 9:29am
Quoting Tony112
{quote} No... 98% use of leverage... at 1:50.... I will post what I mean tonight right now I'm hyperactive
He's risking 98% of his maximum margin required to hold the trade.

Lots are sized to the pips risked and the margin required to hold the currency he chooses and would be risking roughly 4 - 5% of his account balance at 50:1 leverage. This would be just shy of a margin call which on 50:1 leverage which won't blow up the account, it'll just piss you off. He stresses to use only 50:1 leverage, that low leverage which we had forced on us in the US is his safety net.

I risk 2% of my account balance per trade. Max 2 trades running at a time. Once a trade has made it to 1:1 I set SL at BE + a couple pips sit on my hands and close the trading platform and let it run to my target. Once risk is basically $0, I don't care if it hits SL at BE and am happy when it does reach my target which is often 10:1 reward vs what I originally risked.
I don't care which way the market is going as long as it's going my way
  • #10,788
  • Mar 7, 2014 9:53am Mar 7, 2014 9:53am
that usdjpy elevation was just perfect. and so beautiful.... raised high flawless...
  • #10,789
  • Mar 7, 2014 11:16am Mar 7, 2014 11:16am
Quoting Tony112
Thank you Americans for finding jobs and getting out there out of your couches! God Bless America. {image}
Wow tony i was away from my laptop, u r hero Tony
  • #10,790
  • Mar 7, 2014 11:47pm Mar 7, 2014 11:47pm
Quoting dvanderlinde
I dont even know what to say.... Never shaked like this before blood is boiling... Not because I won but because my alarm didnt go off never been so pissed in my life... Tony glad you won.. Need to walk away now before I throw my computer accross the room... Peace oout...............

I remember one time my internet provider stopped my internet 2 minutes before German Flash Manufacturing which went 200 pips!
I didn't have a back up internet line at that time. I went in my bed and was seeing red although the lights were off. I think I had sweaty nightmares for 8 hours in a row. In the morning I woke up and was still pissed as hell but there was a hope of organisation in my heart. It`s the best way to learn: to burn.
Invest in alarm clocks
  • #10,791
  • Mar 8, 2014 2:31am Mar 8, 2014 2:31am
Quoting dvanderlinde
I dont even know what to say.... Never shaked like this before blood is boiling... Not because I won but because my alarm didnt go off never been so pissed in my life... Tony glad you won.. Need to walk away now before I throw my computer accross the room... Peace oout...............
Well, to be frank, I am still struggling with my inner demons.,triggered by the Forex BEAST...
My ego still suffers from a holy war in my unconscious survival system (mirrored back by fundamentalist Islam) which manifests itself through being a world champion of consistently losing in forex. My account is down to 20% since 2007. I ran through all the CP, like the running rabbit in Alice in wonderland,still unable to sit a movement out completely. Anguish for success??? A self-destroying and blackmailing layer in my ego is screaming for healing (see also my profile). I see this happening on a collective level in the mirror of human unconsciousness, driving itself & the planet, through complete blindness and ignorance, into the wall. Humans are "cosmic champions all categories to destroy themselves" out of pure terror of their forgotten indescribable beauty: the divine magnificence of their original & essential true nature. The ego plays this out , covers up the terror to fall in an "Bottomless yawning/gaping hole", through unlimited lust for power, greed for money & sex. Hence, my forex results till now . Are you familiar with this devilish phenomena too?
  • #10,792
  • Mar 8, 2014 6:36am Mar 8, 2014 6:36am
Quoting bernbeach
{quote} Well, to be frank, I am still struggling with my inner demons.,triggered by the Forex BEAST... My ego still suffers from a holy war in my unconscious survival system (mirrored back by fundamentalist Islam) which manifests itself through being a world champion of consistently losing in forex. My account is down to 20% since 2007. I ran through all the CP, like the running rabbit in Alice in wonderland,still unable to sit a movement out completely. Anguish for success??? A self-destroying and blackmailing layer in my ego is screaming for healing...

This is deep, I'm gonna comment on that as soon as I come back in a few hours
Invest in alarm clocks
  • #10,793
  • Mar 8, 2014 1:53pm Mar 8, 2014 1:53pm
Quoting bernbeach
{quote} Well, to be frank, I am still struggling with my inner demons.,triggered by the Forex BEAST... My ego still suffers from a holy war in my unconscious survival system (mirrored back by fundamentalist Islam) which manifests itself through being a world champion of consistently losing in forex. My account is down to 20% since 2007. I ran through all the CP, like the running rabbit in Alice in wonderland,still unable to sit a movement out completely. Anguish for success??? A self-destroying and blackmailing layer in my ego is screaming for healing...
Yeah, something like that. lol
  • #10,794
  • Mar 8, 2014 2:04pm Mar 8, 2014 2:04pm
Quoting bernbeach
{quote} Are you familiar with this devilish phenomena too?
This is a great post very in depth, I think a lot of trades struggle with this especially greed.

Quoting Tony112
{quote} I remember one time my internet provider stopped my internet 2 minutes before German Flash Manufacturing which went 200 pips! I didn't have a back up internet line at that time. I went in my bed and was seeing red although the lights were off. I think I had sweaty nightmares for 8 hours in a row. In the morning I woke up and was still pissed as hell but there was a hope of organisation in my heart. It`s the best way to learn: to burn.
It's the worst feeling in the world, never thought it would happen to me. I was also seeing red and felt like throwing up.. Blood honestly felt like it was boiling and I was sweating...

All day I felt like sh*t and I just kept saying to myself "There are worse things in life" and I just had to think at least the method I'm using works and there will be other days to trade. I am still a young trader and have many more years to learn and hopefully profit and live off of Forex, this is my goal at least

Only thing is this could have paid for 2 months rent up here in Whistler, BC which would have been glorious. But hey I'm living the dream up here in this beautiful place!

Instead I revenge traded my account... and lost... I knew it was going to happen too, just couldn't resist.. Felt like a gambler which WILL lose you money!!

I didn't want to admit I even traded this event because I hate admitting my failures because it's embarrassing but I've hidden my failures in the past and I think the only way to get past this "Hole" in my trading (Revenge trading) is to admit it.. I know there are other traders who do this and I'm posting my chart to show you this will only lead to failure. Have a plan and trade it. Discipline. And like Tony's quote says "Invest in alarm clocks" I say "Invest in MULTIPLE alarm clocks"

This is a mistake I will not make again..

Learn from mistakes and move on............
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 38 KB
  • #10,795
  • Mar 8, 2014 7:37pm Mar 8, 2014 7:37pm
Quoting dvanderlinde
{quote} This is a great post very in depth, I think a lot of trades struggle with this especially greed. {quote} It's the worst feeling in the world, never thought it would happen to me. I was also seeing red and felt like throwing up.. Blood honestly felt like it was boiling and I was sweating... All day I felt like sh*t and I just kept saying to myself "There are worse things in life" and I just had to think at least the method I'm using works and there will be other days to trade. I am still a young trader and have many more years to learn and...
Im posting from my phone thats why i keep it short. Since your young there will be plenty of opportunities!!! NFP can kill a bank if you put emotions into it. I do mistakes after 10 years of trading..... Later i will post again this phone is slow
Invest in alarm clocks
  • #10,796
  • Mar 8, 2014 7:39pm Mar 8, 2014 7:39pm
I did a lot of silly mistake this week in my trading too, Still end up break even, trading can be difficult but when you put patient and discipline to work it can be so rewarding. I over leverage my account and result to a dd but I finally get it fixed cos it looks like gambling when you over confidence about market direction. It doesn't matter to me anymore were market will go cos ve seen it all, instead of been a Bull or Bear, Now am a Chameleon, Let the Fun begins
I over leverage my account on Aussie-dollar thinking market got to retrace after 100+ move, lesson learned market could go 1000 pips without a retrace of correction, you just can predict market movement, rather focus on Money management and be discipline .
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30.png Size: 50 KB
  • #10,797
  • Mar 8, 2014 8:31pm Mar 8, 2014 8:31pm
Quoting Tony112
{quote} banked.... I have a dangerous behavior now, wanna buy loads of usd/cad... i'm on the edge.... i must not do it

Good! me too, i tend to us ATR trail as stoploss past breakeven, I am not too fond of reversals and it has been pretty reliable in terms of a good back up exit incase of lack of TP hit.
  • #10,798
  • Mar 8, 2014 9:00pm Mar 8, 2014 9:00pm
Quoting PipKiller
{quote} He's risking 98% of his maximum margin required to hold the trade. Lots are sized to the pips risked and the margin required to hold the currency he chooses and would be risking roughly 4 - 5% of his account balance at 50:1 leverage. This would be just shy of a margin call which on 50:1 leverage which won't blow up the account, it'll just piss you off. He stresses to use only 50:1 leverage, that low leverage which we had forced on us in the US is his safety net. I risk 2% of my account balance per trade. Max 2 trades running at a time. Once...

Thanks for answering Pipkiller; 4-5? I first started with that but I backed out after I did a quantitative analysis (my strength) and din't like what I saw over losing streak scenarios, atleast until maybe I'm able to estimate a higher win rate or my confidence improves over time, at this time I'm estimating an approx of one win per week while the majority being all losses or b/e.

I'm glad to know im not the only one here using a 2% risk rule, still would love to hear Tony's input when he gets time
  • #10,799
  • Edited Mar 9, 2014 7:45am Mar 8, 2014 9:19pm | Edited Mar 9, 2014 7:45am
Quoting dvanderlinde
{quote} This is a great post very in depth, I think a lot of trades struggle with this especially greed. {quote} It's the worst feeling in the world, never thought it would happen to me. I was also seeing red and felt like throwing up.. Blood honestly felt like it was boiling and I was sweating... All day I felt like sh*t and I just kept saying to myself "There are worse things in life" and I just had to think at least the method I'm using works and there will be other days to trade. I am still a young trader and have many more years to learn and...
Yep, what you resists persists.... to heal and transform an unconscious destructive compulsion, the controlled and controlling behaviour needs to give way to an attitude of surrender and openness to what is occurring internally and externally, rather than pushing, resisting or fighting it. The torturing way of being with ourselves, often happens through our surperego, who attacks and judges us. We need to get in touch with the aggression, fears and self hatred embedded in the resistance to ourselves, which curiously enough, only perpetuates them We need to understand that working through our emotional reactions and mental beliefs is only possible when we fully allow them, otherwise our understanding can not penetrate them. True desidentification is not distancing from our experience, it is only possible through diving fully into the experience. Paradoxically and strangely enough for our rational minds, the more we immerse ourselves into the experience (however painful this may be), the more we become desidentified. It is our inner light which heals our darkness. So no drramatising or distancing in shame. Meeting our inner experience with equanimity involves allowing it, yet not being swept away by it (what happened with us in childhood). Which means experiencing it completely. Striving for the exceptional, the exciting, the extreme, the defying gradually becomes replaced with conscious calm, peace, strength and simplicity. The need to be special is replaced by our humanness. (inspired from the book: The Spiritual Dimension of the Enneagramme, the nine faces of the soul. By Sandra Maitri -
Inserted Video
)
  • #10,800
  • Mar 9, 2014 1:20am Mar 9, 2014 1:20am
Quoting bernbeach
{quote} Well, to be frank, I am still struggling with my inner demons.,triggered by the Forex BEAST... My ego still suffers from a holy war in my unconscious survival system (mirrored back by fundamentalist Islam) which manifests itself through being a world champion of consistently losing in forex. My account is down to 20% since 2007. I ran through all the CP, like the running rabbit in Alice in wonderland,still unable to sit a movement out completely. Anguish for success??? A self-destroying and blackmailing layer in my ego is screaming for healing...
hey bernbeach, what is the lot size that you trade?
45 traders viewing now