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AUD/USD

  • #83,301
  • Jul 29, 2014 2:33pm Jul 29, 2014 2:33pm
Quoting Ken A
{quote} Have one solution that definitely will work since you can't trade small
and what's that?
  • #83,302
  • Jul 29, 2014 2:35pm Jul 29, 2014 2:35pm
Quoting Ck87
{quote} and what's that?
Top up the account until the bank will only let you have a single digit account leverage
  • #83,303
  • Jul 29, 2014 3:00pm Jul 29, 2014 3:00pm
Quoting Ck87
{quote} Amazing isn't it? As a pro poker player I've been through all of this and have conquered it… yet have failed time and time again in this trading arena! I'm so dedicated and committed though that I won't ever give up. But I know repeating the same mistakes over and over isn't going to work…. ahhh!
Hi Ck, do you remember your first bank roll? Did it survive? I doubled my first before blowing it up to zero. And my first trading account is also over the hill already. I guess there are only a few lucky ones who never got their shoes wet. Most successful traders are probably the ones who got hit a thousand times and still managed to stick around somehow.
Fix up, trade sharp ...
  • #83,304
  • Jul 29, 2014 3:02pm Jul 29, 2014 3:02pm
Quoting Hickson
{quote} Hi Ck, do you remember your first bank roll? Did it survive? I doubled my first before blowing it up to zero. And my first trading account is also over the hill already. I guess there are only a few lucky ones who never got their shoes wet. Most successful traders are probably the ones who got hit a thousand times and still managed to stick around somehow.

No, I definitely went broke many times…. But with trading it's been way worse.

I had one huge huge play in trading in my first year where I turned maybe $30k into half a million in a week buying SLV puts for a very aggressive short and silver fell like 25% that week. Very lucky. Ever since then it's been straight down busting every single account
  • #83,305
  • Jul 29, 2014 3:05pm Jul 29, 2014 3:05pm
You see what I mean once you are playing with millions there's no way to trade $10 per pip
  • #83,306
  • Jul 29, 2014 3:06pm Jul 29, 2014 3:06pm
Quoting Ck87
{quote} No, I definitely went broke many times…. But with trading it's been way worse. I had one huge huge play in trading in my first year where I turned maybe $30k into half a million in a week buying SLV puts for a very aggressive short and silver fell like 25% that week. Very lucky. Ever since then it's been straight down busting every single account
Wow. If I could turn up with that funding I would probably retreat with it and trade micro micro. Just reduce position size, high leverage wipes out every account regardless of trading skill. Had to learn it the hard way.
Fix up, trade sharp ...
  • #83,307
  • Jul 29, 2014 3:07pm Jul 29, 2014 3:07pm
Quoting Ken A
You see what I mean once you are playing with millions there's no way to trade $10 per pip
Thing is I'm not playing with millions… I've already screwed myself bad enough to where I'm usually on limited funds now… But I'm chasing what I once had and what I'm down.

And yeah having high leverage accessible is definitely going to continue to crush me if I don't do something about it.
  • #83,308
  • Jul 29, 2014 3:09pm Jul 29, 2014 3:09pm
Quoting Hickson
{quote} Wow. If I could turn up with that funding I would probably retreat with it and trade micro micro. Just reduce position size, high leverage wipes out every account regardless of trading skill. Had to learn it the hard way.
Greed and adrenaline addiction is a bitch.
  • #83,309
  • Jul 29, 2014 3:12pm Jul 29, 2014 3:12pm
Quoting Ck87
{quote} Thing is I'm not playing with millions… I've already screwed myself bad enough to where I'm usually on limited funds now… But I'm chasing what I once had and what I'm down. And yeah having high leverage accessible is definitely going to continue to crush me if I don't do something about it.
Take the summer break go somewhere don't trade in this situation where geopolitical and financial instabilities will crush technical overleveraging trades in small ranges.
  • #83,310
  • Jul 29, 2014 3:17pm Jul 29, 2014 3:17pm
Quoting Ck87
{quote} Greed and adrenaline addiction is a bitch.
You know that you just cannot sit down to "just grind back some lost stacks" after tilt. Same with trading. When it f*cks you up, give it a break. I also had about 8 % draw down this month after winning about 10 %. It spoilt the good work and therefore I decided to reduce my trading for the next 2-3 weeks heavily, because I am getting emotional about it which is a clear sign to stop.
Fix up, trade sharp ...
  • #83,311
  • Jul 29, 2014 3:18pm Jul 29, 2014 3:18pm
Quoting Ck87
{quote} No, I definitely went broke many times…. But with trading it's been way worse. I had one huge huge play in trading in my first year where I turned maybe $30k into half a million in a week buying SLV puts for a very aggressive short and silver fell like 25% that week. Very lucky. Ever since then it's been straight down busting every single account
Can definitely relate to that, did something like that when I first started trading. I turned $2,000 into $45,000 in a week, then proceeded to lose it all in just as many days. That experience burnt me bad and led to increased losses where I lost as much as I made and more.
  • #83,312
  • Jul 29, 2014 3:21pm Jul 29, 2014 3:21pm
Quoting oztrader79
{quote} Can definitely relate to that, did something like that when I first started trading. I turned $2,000 into $45,000 in a week, then proceeded to lose it all in just as many days. That experience burnt me bad and led to increased losses where I lost as much as I made and more.

And now how are you doing? Still chasing or did you finally take it slow and succeed?
  • #83,313
  • Jul 29, 2014 3:21pm Jul 29, 2014 3:21pm
Quoting Hickson
{quote} You know that you just cannot sit down to "just grind back some lost stacks" after tilt. Same with trading. When it f*cks you up, give it a break. I also had about 8 % draw down this month after winning about 10 %. It spoilt the good work and therefore I decided to reduce my trading for the next 2-3 weeks heavily, because I am getting emotional about it which is a clear sign to stop.

Yeah, back when I was playing cash games daily I made a rule that if I ever got mad I had to leave and wait till my head was clear before playing again. Worked very well.
  • #83,314
  • Jul 29, 2014 3:22pm Jul 29, 2014 3:22pm
Quoting oztrader79
{quote} Can definitely relate to that, did something like that when I first started trading. I turned $2,000 into $45,000 in a week, then proceeded to lose it all in just as many days. That experience burnt me bad and led to increased losses where I lost as much as I made and more.
Wow ... that must be horrible. 2 k to 45 k, a more than solid year's income for most people and then lose it within a few days is a tough nut to crack.
Fix up, trade sharp ...
  • #83,315
  • Jul 29, 2014 3:26pm Jul 29, 2014 3:26pm
Quoting Ck87
{quote} Yeah, back when I was playing cash games daily I made a rule that if I ever got mad I had to leave and wait till my head was clear before playing again. Worked very well.
You see? Poker is very different again. It is a game, trading is not a game. You do not have a special opponent, some annoying fish sucking you out with a 2 outer on the river. That is exactly what happened when I lost my first Bank Roll. After some bad beats, I wanted to win the money back instantly (big mistake) and then played speculative hands I had to fold (which is very costly long term). More bad beats added to that (sometimes the variance is just cruel if you think you have the nuts with trips on a pretty dry board or a Full house and then someone ends up with a better Full house on the river). So the result was the same like in trading: Lost mind, lost money. Always easy to understand after the facts, hard to pull the break at the right point.
Fix up, trade sharp ...
  • #83,316
  • Jul 29, 2014 3:58pm Jul 29, 2014 3:58pm
Quoting albchr
{quote} I had the same thought but I have a 1.38 at 1.10703 (hence the spike I see possible). So If I did, I think I'd have to go a bit higher with it. Of course all of this was before NU surpassed my second target. Like you said, if it doesn't hold, the whole plan is moot.
Yeah cancelled that idea, without intervention or cheap milk or strong dollar it might and might not close below .85
  • #83,317
  • Jul 29, 2014 4:01pm Jul 29, 2014 4:01pm
Quoting Ken A
{quote} Yeah cancelled that idea, without intervention or cheap milk or strong dollar it might and might not close below .85

Definitely at an overbought level here and can come down 100 pips or so pretty easily in the short term…. If only we had SydneyGuru telling us what to do… then it would be oh so easy!
  • #83,318
  • Jul 29, 2014 4:04pm Jul 29, 2014 4:04pm
Quoting Ck87
{quote} If only we had SydneyGuru telling us what to do… then it would be oh so easy!


Where are the gurus? Your retail clients DEMAND solutions!
Fix up, trade sharp ...
  • #83,319
  • Edited 4:20pm Jul 29, 2014 4:07pm | Edited 4:20pm
Quoting Ck87
{quote} Definitely at an overbought level here and can come down 100 pips or so pretty easily in the short term…. If only we had SydneyGuru telling us what to do… then it would be oh so easy!
I was enjoying EURNZD shorts when NZDUSD spike up and grateful for that. Don't have mad skill to catch every turns.

SydneyGuru is actually a tour guide probably trying to expand the co to forex guide.

https://encrypted-tbn2.gstatic.com/i...JqGbA1fAMlDkCD

This is probably him You can trust your money to trained parrots

http://sydneytourguide.com.au/pics/tourguide.jpg
  • #83,320
  • Jul 29, 2014 4:24pm Jul 29, 2014 4:24pm
Quoting Ken A
{quote} I was enjoying EURNZD shorts when NZDUSD spike up and grateful for that. Don't have mad skill to catch every turns. SydneyGuru is actually a tour guide probably trying to expand the co to forex guide. {image} This is probably him You can trust your money to trained parrots {image}
hahaha…. btw I know most probably of you don't even look at USD/RUB and the Russian market, but I really think this is going to be one of the best long term opportunities around.

Gotta wait and see some more panic selling on the Ruble and Russian mkt… maybe a retest of the highs of USD/RUB and RSX….. possibly break out even further… but sooner or later going to be an amazing opportunity… even SydneyGuru knows this.

He was reportedly seen fondling a Russian Parrot recently… but it hasn't been confirmed.
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