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  • #895,081
  • May 6, 2014 12:38am May 6, 2014 12:38am
Quoting ffleo
{quote} You really confuse people here. You just said a couple post ago you can precisely call a turning point. And now you say you cannot. You are really joking here.
For some reason a lot of people don't understand the difference between precision and accuracy. This graphic has always been helpful.
Attached Image
  • #895,082
  • May 6, 2014 12:39am May 6, 2014 12:39am
Quoting Kanzler
In fact, here's another trade I was behind the 8 ball on today. Missed it by a pip or two for a dumb reason, but the point stands. {image}
ok now you missed a trade by a pip or two. If I were you I would not miss the trade. I might enter 20 or 30 pips earlier. I might add another one on a small rally of 18 pips. So I have two position entered. And you still miss that trade.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #895,083
  • May 6, 2014 12:39am May 6, 2014 12:39am
Quoting ffleo
{quote} suppose you have 10 longs going on and you enter one short at some price. You equivalent have just 9 longs going on. Why not just close one long at that price you enter one short?
Because 10 longs and one short aren't the same thing, it is 11 lots ...

I started buying NZDUSD at around .8050, after it breaks a weekly/monthly high, I would set stop to BE ... some it SL/BE, others would ride. I have been bullish on NZD since last summer. I can't handle scalping any more, to stressful, and long term trades are more lucrative with patience and pending orders.

so I have longs running, I now closed most of my longs that were days/weeks/months old (I never trade more than 1% of account per trade, most of the time it is .05-.25) ... if they weren't stopped out before, they are closed with TP .. so either they hit TP or SL, I hardly ever manually close.

My 'last' TP is still not hit.

Now, my longer term analysis is bullish. Now I am neutral .. I think any run-up will be capped by .89 so I have a pending order at .89 and .8910, if they get hit, it will be VERY precise .. if they aren't hit .. well my analysis was wrong and I move on.

For my short, I see the potential for a consolidation of .85-.8740. So I enter short to play that, if .85 breaks, I build shorts for .8050 and close remaining longs.

two different strategies on two different lengths of time with two different analyses. one will be right, both will be right, or both will be wrong. I don't hold losers and I let winners run. I have had trades that were 200 pips in green to reverse and hit BE ... but I am not changing what I do ... it works for me, same with stocks/options.

I don't know how to make it more clear. This is how I play all pairs. I don't really scalp unless there is a openly easy trade ...
  • #895,084
  • May 6, 2014 12:40am May 6, 2014 12:40am
Quoting Kanzler
{quote} For some reason a lot of people don't understand the difference between precision and accuracy. This graphic has always been helpful. {image}
No you are not precise nor accurate. You missed a trade by one pip.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #895,085
  • May 6, 2014 12:41am May 6, 2014 12:41am
Quoting ffleo
{quote} ok now you missed a trade by a pip or two. If I were you I would not miss the trade. I might enter 20 or 30 pips earlier. I might add another one on a small rally of 18 pips. So I have two position entered. And you still miss that trade.
And you'd also had 20-30 more pips of risk to dilute your position size, if you care about risk. Whereas you might get a r/r ratio of 1:2, my last trade fetched me 1:13. I missed that trade on an error I made but I make other trades like it on a fairly regular basis. It's just about waiting for the right setup where confidence is high.

Quoting ffleo
{quote} No you are not precise nor accurate. You missed a trade by one pip.
I think you're upset because you're wrong, so you're grasping for straws on an incredibly precise near runner that I missed by not more than a hair. To most people I'm sure that was a fairly impressive entry considering I don't simply spam trades and often wait days between them for good opportunities. I shouldn't have even bothered posting it, as you missed the point entirely.
  • #895,086
  • May 6, 2014 12:42am May 6, 2014 12:42am
Quoting slow-trader
{quote} Because 10 longs and one short aren't the same thing, it is 11 lots ... I started buying NZDUSD at around .8050, after it breaks a weekly/monthly high, I would set stop to BE ... some it SL/BE, others would ride. I have been bullish on NZD since last summer. I can't handle scalping any more, to stressful, and long term trades are more lucrative with patience and pending orders. so I have longs running, I now closed most of my longs that were days/weeks/months old ... if they weren't stopped out before, they are closed with TP .. so either...
for playing such strategy you need a big account. most of the traders overe here cannot trade with your strategy
  • #895,087
  • May 6, 2014 12:43am May 6, 2014 12:43am
Quoting slow-trader
{quote} Because 10 longs and one short aren't the same thing, it is 11 lots ... I started buying NZDUSD at around .8050, after it breaks a weekly/monthly high, I would set stop to BE ... some it SL/BE, others would ride. I have been bullish on NZD since last summer. I can't handle scalping any more, to stressful, and long term trades are more lucrative with patience and pending orders. so I have longs running, I now closed most of my longs that were days/weeks/months old (I never trade more than 1% of account per trade, most of the time it...
10 longs and one short equals 9 longs. I do not know how your broker give you leverage. But 11 lots use more leverage than 9 lots.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #895,088
  • May 6, 2014 12:45am May 6, 2014 12:45am
Quoting giveachance
{quote} for playing such strategy you need a big account. most of the traders overe here cannot trade with your strategy
not true at all ...

You can trade that off of $100, $1000.

I play by % and set amounts, you can do that with everything.

.01% or .1% or 1% of X is possibly with any account since X is a variable that can be user determined. If you have a $500 account, use $5 trades ... it may only be pennies per pip, but 200 pips will turn into $10, 20, 30 ... and 10 trades will be $300, that is already 60% account growth. It takes patience.
  • #895,089
  • May 6, 2014 12:48am May 6, 2014 12:48am
Quoting slow-trader
{quote} not true at all ... You can trade that off of $100, $1000. I play by % and set amounts, you can do that with everything. .01% or .1% or 1% of X is possibly with any account since X is a variable that can be user determined. If you have a $500 account, use $5 trades ... it may only be pennies per pip, but 200 pips will turn into $10, 20, 30 ... and 10 trades will be $300, that is already 60% account growth. It takes patience.
your last line sums up the point you are making. I don't have that or start to lose if after days like NFP.
  • #895,090
  • May 6, 2014 12:49am May 6, 2014 12:49am
Quoting ffleo
{quote} 10 longs and one short equals 9 longs. I do not know how your broker give you leverage. But 11 lots use more leverage than 9 lots.
oh my god, I don't know if you are trolling or just not understanding.

10 longs and 1 short does NOT equal 9 longs because they are two separate trades.

if my short hits SL or TP, I still have the same amount of longs, therefor, it doesn't equal nine longs.

they are two separate trades, it isn't a hedge. I am not selling to protect part of my long or vice versa.

my long NZD and short NZD is the same as having long NZD and short EUR. they are two separate entities, the strategy isn't linked in any way, shape, or form. I said very clearly what I do, if you don't get it or don't want to get it, fine, I am done explaining.
  • #895,091
  • May 6, 2014 12:49am May 6, 2014 12:49am
Quoting Kanzler
{quote} And you'd also had 20-30 more pips of risk to dilute your position size, if you care about risk. Whereas you might get a r/r ratio of 1:2, my last trade fetched me 1:13. I missed that trade on an error I made but I make other trades like it on a fairly regular basis. It's just about waiting for the right setup where confidence is high. {quote} I think you're upset because you're wrong, so you're grasping for straws on an incredibly precise near runner that I missed by not more than a hair. To most people I'm sure that was a fairly impressive...
you are really funny. I trade my way. You trade your way.
I do not go all in. I enter the first one 20 or 30 pips earlier. It may just drop at that moment. If it does not, fine I add another one 18 pips higher. I can close the second adding any time. I can close it at higher price, I can close it at lower price. I do not have to hold the 2 positions all the time.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #895,092
  • May 6, 2014 12:50am May 6, 2014 12:50am
Quoting Kanzler
{quote} For some reason a lot of people don't understand the difference between precision and accuracy. This graphic has always been helpful. {image}
Dumbo

if your missing trades by a pip or 2 set orders in the market LoL

just about any broker or sb firm have this facility LoL.
rat
  • #895,093
  • May 6, 2014 12:50am May 6, 2014 12:50am
Quoting ffleo
{quote} you are really funny. I trade my way. You trade your way. I do not go all in. I enter the first one 20 or 30 pips earlier. It may just drop at that moment. If it does not, fine I add another one 18 pips higher. I can close the second adding any time. I can close it at higher price, I can close it at lower price. I do not have to hold the 2 positions all the time.
Well this has been a lovely chat, but a complete waste of my time and effort. You'll learn some day. Goodnight.

Quoting rattyo
{quote} Dumbo if your missing trades by a pip or 2 set orders in the market LoL just about any broker or sb firm have this facility LoL.
This forum is full of morons. Good night to you as well.
  • #895,094
  • May 6, 2014 12:52am May 6, 2014 12:52am
Quoting slow-trader
{quote} oh my god, I don't know if you are trolling or just not understanding. 10 longs and 1 short does NOT equal 9 longs because they are two separate trades. if my short hits SL or TP, I still have the same amount of longs, therefor, it doesn't equal nine longs. they are two separate trades, it isn't a hedge. I am not selling to protect part of my long or vice versa. my long NZD and short NZD is the same as having long NZD and short EUR. they are two separate entities, the strategy isn't linked in any way, shape, or form. I said very clearly...
If your math logic really go all wrong, do not say I am trolling
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #895,095
  • Edited 1:15am May 6, 2014 12:55am | Edited 1:15am
Quoting Kanzler
{quote} I don't know where the market is always going to go, but my entries are always very precise
I prefer, "I don't know where the market is going to go, but I can say with confidence what will happen if or when it gets there"

Finally, someone else who shares my methodology.
  • #895,096
  • May 6, 2014 12:55am May 6, 2014 12:55am
Quoting giveachance
{quote} your last line sums up the point you are making. I don't have that or start to lose if after days like NFP.
I am sorry to say this, and mean no offense, but I worked hard and so did my wife so that we can have a good life. This isn't a hobby for me, part of my work, school, etc all falls into this.

We saved and what I started trading with years ago was disposable income and that was put into stocks, etc. now it has evolved into currency, options, etc.

If you can't afford $500, you need to stop trading and work and save until you can put more towards trading.

Once you trade, if you stick to a game plan, you shouldn't blow an account. If I had constant losing trades, it will take a long long time (years) for me to blow my account, because 1% of account is thesame for 100, or 1,000,000.

If you have a $500 account and blow it on NFP's, than that means you were using 20%+ of your accounts for trades .. way to over leveraged. Open up daily chart, put a .1% pending order at wrong resistance or support (even on weekly) and let it trigger and let it ride. %1 of 500 is 5, that can be about a .$.02 pip, 100 pip rally = $2, 300 pips = 6. 506/500 = %1.2 gain. Keep that up, and your $500 account will be $1000-1500 within a year, and then it compounds.

its work.
  • #895,097
  • May 6, 2014 12:56am May 6, 2014 12:56am
Quoting ffleo
{quote} If your math logic really go all wrong, do not say I am trolling
its simply math.

you said 10 long and one short. that is 11 lots total, correct?

a short lot or long lot is still a lot, it is an absolute number (-1 = |-1| = 1)

http://www.mathsisfun.com/numbers/absolute-value.html


so your math is wrong.
  • #895,098
  • May 6, 2014 12:57am May 6, 2014 12:57am
Quoting slow-trader
{quote} I am sorry to say this, and mean no offense, but I worked hard and so did my wife so that we can have a good life. This isn't a hobby for me, part of my work, school, etc all falls into this. We saved and what I started trading with years ago was disposable income and that was put into stocks, etc. now it has evolved into currency, options, etc. If you can't afford $500, you need to stop trading and work and save until you can put more towards trading. Once you trade, if you stick to a game plan, you shouldn't blow an account. If I had constant...

ok wish you luck with your strategy. back to the euro. where is is heading???
  • #895,099
  • May 6, 2014 12:59am May 6, 2014 12:59am
Quoting slow-trader
{quote} its simply math. you said 10 long and one short. that is 11 lots total, correct? a short lot or long lot is still a lot, it is an absolute number (-1 = |-1| = 1) http://www.mathsisfun.com/numbers/absolute-value.html so your math is wrong.
your math is really messed up. Do not try to convince me. You cannot. No matter what, I have more rigorous and longer math training than you can imagine.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #895,100
  • May 6, 2014 1:02am May 6, 2014 1:02am
Quoting slow-trader
{quote} its simply math. you said 10 long and one short. that is 11 lots total, correct? a short lot or long lot is still a lot, it is an absolute number (-1 = |-1| = 1) http://www.mathsisfun.com/numbers/absolute-value.html so your math is wrong.
try to solve this problem in this post. http://www.forexfactory.com/showthre...96#post7351296

If you can, then we can talk. If you cannot, do not try to convince me that my math is wrong.
ignore wackos and psychos, including myself. But I can't add myself to iggy
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