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The Wanderings of Tashkent

  • #161
  • Nov 21, 2014 6:21am Nov 21, 2014 6:21am
Quoting tashkent
{quote} still holding and added another long. {image}
still holding
Attached Image (click to enlarge)
Click to Enlarge Name: a.jpg Size: 157 KB
As Above, So Below
  • #162
  • Nov 21, 2014 9:34am Nov 21, 2014 9:34am
Hello, Mr Tashkent, I don't know to call you sir

As I said, I'm a new-learning forex trader with 1.5 part-time trading year experience. I'm here to ask hopefully you sir to recommend me something to learn successful forex trading.

I'm new here,So I dont know how to post. . I hope I'm posting this
  • #163
  • Nov 21, 2014 10:34am Nov 21, 2014 10:34am
Quoting komoliddin
Hello, Mr Tashkent, I don't know to call you sir As I said, I'm a new-learning forex trader with 1.5 part-time trading year experience. I'm here to ask hopefully you sir to recommend me something to learn successful forex trading. I'm new here,So I dont know how to post. . I hope I'm posting this
hello buddy,
i am not an expert nor professional trader but if you have any questions on trading just fire away, i will answer in my capacity.
if you have been trading for 1.5 year, i am pretty sure you must already know all the basics of trading.
As Above, So Below
  • #164
  • Nov 27, 2014 1:01am Nov 27, 2014 1:01am
Quoting tashkent
{quote} hello buddy, i am not an expert nor professional trader but if you have any questions on trading just fire away, i will answer in my capacity. if you have been trading for 1.5 year, i am pretty sure you must already know all the basics of trading.
Hi Tashkent,
Do you trade for a living? Just wondering.

BTW... Haven't been reading posts much, but I've been drawing lines per your suggestion and trading price actions. Though demo only, I'm taking it very seriously as if live trading. Still I'm aware there are significant differences. So far overall results are slightly under water, which is actually a big improvement from the past. I won't live trade until demo trading is consistently positive first.
When in doubt, HEDGE
  • #165
  • Nov 27, 2014 9:46am Nov 27, 2014 9:46am
Quoting AdelPC
{quote} Hi Tashkent, Do you trade for a living? Just wondering. BTW... Haven't been reading posts much, but I've been drawing lines per your suggestion and trading price actions. Though demo only, I'm taking it very seriously as if live trading. Still I'm aware there are significant differences. So far overall results are slightly under water, which is actually a big improvement from the past. I won't live trade until demo trading is consistently positive first.
Hi Adel,
if you meant i am a full time trader, then no, i trade part time. couple of hours a day is sufficient for anyone to get his share from market. there is no need to sit in front of pc all day long.
i am glad to hear that your trading is improving. horizontal lines on the body and h/l of the previous candle and reading the price action on lower tf can be really helpful. unfortunately can't give much advise since i do not know anything much about how you trade. from what i have noticed so far, my advise is learn when to take your profit. your capital grows ONLY by taking the profit

that small window on the left is how my screen usually looks like. all i have to see is my lines and a few candlesticks.
Attached Image (click to enlarge)
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  • #166
  • Dec 2, 2014 7:28pm Dec 2, 2014 7:28pm
Quoting tashkent
{quote} Hi Adel, if you meant i am a full time trader, then no, i trade part time. couple of hours a day is sufficient for anyone to get his share from market. there is no need to sit in front of pc all day long. i am glad to hear that your trading is improving. horizontal lines on the body and h/l of the previous candle and reading the price action on lower tf can be really helpful. unfortunately can't give much advise since i do not know anything much about how you trade. from what i have noticed so far, my advise is learn when to take your profit....
I like the small chart window. It says something about the unique way you think & operate.
When in doubt, HEDGE
  • #167
  • Dec 3, 2014 3:23am Dec 3, 2014 3:23am
Quoting AdelPC
{quote} I like the small chart window. It says something about the unique way you think & operate.
thanks my friend. much easier this way for me rather than watching tons of charts and indicators.
how has market been treating you lately?
i am getting into more and more losing trades and now my winning rate is about 61%
but no harm, just managing the losers and applying different exit strategies.
As Above, So Below
  • #168
  • Dec 3, 2014 4:54am Dec 3, 2014 4:54am
Quoting tashkent
{quote} thanks my friend. much easier this way for me rather than watching tons of charts and indicators. how has market been treating you lately? i am getting into more and more losing trades and now my winning rate is about 61% but no harm, just managing the losers and applying different exit strategies.
Only 61% Jeez... my first thought was that must be an unusually low figure for you. I'm hovering around 76% with losers pips typically larger than winners. Still demo trading though, so winning rates may not be reliable.
Perhaps I would recommend hedging to boost winning rate. My main strategy is 'If/When in doubt, HEDGE '.
Example... when I have an open position just prior to news event, I may place a stop order to hedge my position in case price goes the wrong way.
When in doubt, HEDGE
  • #169
  • Dec 3, 2014 5:09am Dec 3, 2014 5:09am
Quoting AdelPC
{quote} Only 61% Jeez... my first thought was that must be an unusually low figure for you. I'm hovering around 76% with losers pips typically larger than winners. Still demo trading though, so winning rates may not be reliable. Perhaps I would recommend hedging to boost winning rate. My main strategy is 'If/When in doubt, HEDGE '. Example... when I have an open position just prior to news event, I may place a stop order to hedge my position in case price goes the wrong way.
you know what, look at my monthly stats, i have lost 357 pips this month, 482 this week in addition to a low winning rate of 61%
i think i must give up trading, that is a total disaster
btw, thanks for the advise, i prefer not to hedge and overall i really do not care about useless things like winning rate etc
As Above, So Below
  • #170
  • Dec 3, 2014 5:39am Dec 3, 2014 5:39am
Quoting tashkent
{quote} you know what, look at my monthly stats, i have lost 357 pips this month, 482 this week in addition to a low winning rate of 61% i think i must give up trading, that is a total disaster btw, thanks for the advise, i prefer not to hedge and overall i really do not care about useless things like winning rate etc
You're joking, of course
I do have live positions of AUDUSD from a few weeks ago, big losers that I'm still holding.
When in doubt, HEDGE
  • #171
  • Dec 3, 2014 5:49am Dec 3, 2014 5:49am
Quoting AdelPC
{quote} You're joking, of course I do have live positions of AUDUSD from a few weeks ago, big losers that I'm still holding.
hmm, holding aud and euro shorts is little risky. however there has to be some kind of bounce but the question is when... do you ever try to rescue the bad position before things get worse?
As Above, So Below
  • #172
  • Dec 3, 2014 6:20am Dec 3, 2014 6:20am
Quoting tashkent
{quote} hmm, holding aud and euro shorts is little risky. however there has to be some kind of bounce but the question is when... do you ever try to rescue the bad position before things get worse?
My AUDUSD longs, actually.
When there is a bounce, I would open shorts positions as hedge. Have done so twice and hence recovered a bit of losses. I have not tried other rescue methods.
If AUDUSD retraces to 0.8440, then I will open shorts hedge positions again. News on AUD is bad. Looks like it's a matter of time before interest rate cut.
When in doubt, HEDGE
  • #173
  • Dec 3, 2014 7:44pm Dec 3, 2014 7:44pm
Oh no... keeps getting losers. I just realized my earlier good winning rate was because I mainly sold JPY, which was a sure thing due to incredible trend. Once I move away from shorting JPY, trend is not clear and losers keep coming. Looks like I will need demo trading a lot more, especially trying pairs that are non-trending.
When in doubt, HEDGE
  • #174
  • Dec 3, 2014 8:07pm Dec 3, 2014 8:07pm
there is something we all need to understand. this is not about having a high winning rate nor collecting pips. for example, my winning rate is not so good, because i am not concerned about it, therefore can take lots of consecutive losses, the main thing is that these losses are small, therefore have lots of red pips. if i do not like my position i will just kill it and move forward. also may keep some of them if have positive swap and waiting trend to resume like audjpy. since they are usually small, i do not mind couple of hundred pips in red because as soon as i see a good chance, always can employ a chunk of capital as a rescue and close the positions at BE or even in profit. this is like a war. like FTI explains, you are the general and first always send to field a small group of troop, if they are winner send the main army and destroy the enemy. if a loser, send a bigger rescue team who are really fast and must cause a deadly unexpected attack, if successful, call all of them home safe, otherwise just let them die and move on. there are lots of important things other than pushing buy or sell button
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  • #175
  • Dec 3, 2014 8:14pm Dec 3, 2014 8:14pm
bad trades and losers are inseparable and natural part of trading. important thing is we must not let them damage our account. this mindset is extremely important.
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  • #176
  • Dec 3, 2014 8:20pm Dec 3, 2014 8:20pm
the weakness of aud is really messed up my audjpy position. have already cut the position by 3/4 at bounces and keeping the quarter, still it is losing me 0.6% of my capital. maybe time to kill it too but i am sure then the pair will start moving towards 102
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  • #177
  • Dec 3, 2014 8:21pm Dec 3, 2014 8:21pm
Quoting tashkent
there is something we all need to understand. this is not about having a high winning rate nor collecting pips. for example, my winning rate is not so good, because i am not concerned about it, therefore can take lots of consecutive losses, the main thing is that these losses are small, therefore have lots of red pips. if i do not like my position i will just kill it and move forward. also may keep some of them if have positive swap and waiting trend to resume like audjpy. since they are usually small, i do not mind couple of hundred pips in red...
Fantastic... I like your war analogy.
I will have to think about the rescue strategy and not always sit out a worsening drawdown with vain hope.
When in doubt, HEDGE
  • #178
  • Dec 3, 2014 8:30pm Dec 3, 2014 8:30pm
Quoting AdelPC
{quote} Fantastic... I like your war analogy. I will have to think about the rescue strategy and not always sit out a worsening drawdown with vain hope.
yes, you need to practice it. it is like martingale, but your rescue team is a few times bigger than the scout team, and they are very fast, the job must be done in a few minutes. longer they stay in the field higher the risk of losing them all
As Above, So Below
  • #179
  • Dec 4, 2014 12:51am Dec 4, 2014 12:51am
Quoting tashkent
{quote} yes, you need to practice it. it is like martingale, but your rescue team is a few times bigger than the scout team, and they are very fast, the job must be done in a few minutes. longer they stay in the field higher the risk of losing them all
Scary... But I do believe such a strategy is a key to success.
Will try it.
When in doubt, HEDGE
  • #180
  • Dec 4, 2014 7:13am Dec 4, 2014 7:13am
Quoting AdelPC
{quote} Scary... But I do believe such a strategy is a key to success. Will try it.
not that scary if one figures out the right proportions.
As Above, So Below
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