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The Wanderings of Tashkent

  • #201
  • Dec 16, 2014 5:26am Dec 16, 2014 5:26am
Quoting MaryAnne
{quote} thanks for the advice again my friend you see this is one thing I like about you. honesty and open mindedness. yea, i am more of a swing/position trader which is pretty different from intraday trading though I am considering opening an account just for intraday trades next year so we will pretty much have a lot to talk about lol. I tend to hold positions for maybe 2-3 days to cash in maybe 100+ pips per trade.less stress for me though scalping is pretty fun. just I lack the time to do it always... ah, the difference in pips for GJ...
What you say sounds pretty cool.
This week is horrendous and I didn't see it coming.
It's very hard work to scalp and I thought I was starting to be good at scalping. But when large market swings happen, I think scalpers often get caught with large DD and slaughtered. It's not a pretty sight.
When in doubt, HEDGE
  • #202
  • Dec 16, 2014 7:24am Dec 16, 2014 7:24am
it is not acceptable scalping against the trade in a strongly trading market and it is not reasonable intraday trading when market is ranging. it must be vise verse. so your strategy depends on the market conditions. these days, if you tried to scalp jpy pairs against the trend, loss is almost guaranteed, unless you are skilled at scalping. i have hold positions with hundreds of pips loss, still covered these losses and made much profit through scalping all the way against the trend. and also something to remember, if any trade with 500 pips loss gives you large DD, that means your money management is unacceptable and you should do a lot more study on this matter.
price does not just move in one direction unstop. almost certainly it comes back to any reference point at sometime. therefore couple of hundred pips move in either direction is pretty normal cycle. but the most important question is will you be there when when that happens???
As Above, So Below
  • #203
  • Dec 16, 2014 9:33am Dec 16, 2014 9:33am
Quoting tashkent
it is not acceptable scalping against the trade in a strongly trading market and it is not reasonable intraday trading when market is ranging. it must be vise verse. so your strategy depends on the market conditions. these days, if you tried to scalp jpy pairs against the trend, loss is almost guaranteed, unless you are skilled at scalping. i have hold positions with hundreds of pips loss, still covered these losses and made much profit through scalping all the way against the trend. and also something to remember, if any trade with 500 pips loss...
Tashkent, Thank you.
I have to do more thinking and update my trading strategy.
When in doubt, HEDGE
  • #204
  • Dec 16, 2014 10:08am Dec 16, 2014 10:08am
not a problem. just remember, one must have a combination of three ingredients to be able to toss an account: 1. greed (wanting more and right now). 2. bad money management. 3. bad trade management.
forgive me if i am mistaken but per your posts i feel like you do not understand what money management is and why it is incredibly important. therefore you are too stressed when there is 100 or 200 pips against you. with normal money management, the nominal of 100 pips loss must not be more than 1-2% of your total capital.
As Above, So Below
  • #205
  • Dec 16, 2014 12:25pm Dec 16, 2014 12:25pm
Quoting tashkent
not a problem. just remember, one must have a combination of three ingredients to be able to toss an account: 1. greed (wanting more and right now). 2. bad money management. 3. bad trade management. forgive me if i am mistaken but per your posts i feel like you do not understand what money management is and why it is incredibly important. therefore you are too stressed when there is 100 or 200 pips against you. with normal money management, the nominal of 100 pips loss must not be more than 1-2% of your total capital.
Still have plenty of rooms to improve on all 3.
When in doubt, HEDGE
  • #206
  • Dec 17, 2014 10:28am Dec 17, 2014 10:28am
scalps for the last 24 hours (mostly GBPJPY counter trend trades)
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As Above, So Below
  • #207
  • Dec 17, 2014 8:37pm Dec 17, 2014 8:37pm
Quoting AdelPC
{quote} Shitting myself on this EURCAD, rocketed to 1.4433. Seems to me Euro strength is very strange. I suspect Euro is being pushed up and that has something to do with preventing EURCHF from breaking below SNB floor of 1.2000. EURCHF is now only 1.2009 !! My hunch is EURUSD will break recent high of 1.2495 tonight!!
Two of my brokers show EURCHF had broke below 1.2000. It lasted just one minute.
But that has not done anything to lift EURCHF significantly.
Attached Image
When in doubt, HEDGE
  • #208
  • Dec 17, 2014 8:54pm Dec 17, 2014 8:54pm
Quoting tashkent
scalps for the last 24 hours (mostly GBPJPY counter trend trades) {image}
Well done! Cha-ching, cha-ching all day long

Things start turning around as I kept calm and trade me plan. Happy with how I hedged EURCAD and it seems to have reversed.
It was quite fascinating to watch on 1-minute chart how GBPUSD tried many times to trigger stops below 1.5540, but relented in the end.
When in doubt, HEDGE
  • #209
  • Dec 17, 2014 8:55pm Dec 17, 2014 8:55pm
this is hell of a spike

my broker is clean:
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As Above, So Below
  • #210
  • Dec 17, 2014 9:16pm Dec 17, 2014 9:16pm
Quoting AdelPC
{quote} Well done! Cha-ching, cha-ching all day long Things start turning around as I kept calm and trade me plan. Happy with how I hedged EURCAD and it seems to have reversed. It was quite fascinating to watch on 1-minute chart how GBPUSD tried many times to trigger stops below 1.5540, but relented in the end.
good to hear you are doing well! EURCAD indeed had a nice fall. i am not sure if this is a reversal but chances of falling further looks like higher...
As Above, So Below
  • #211
  • Dec 18, 2014 8:16am Dec 18, 2014 8:16am
Quoting tashkent
{quote} good to hear you are doing well! EURCAD indeed had a nice fall. i am not sure if this is a reversal but chances of falling further looks like higher...
Can't say I'm doing well. But have just closed all EURCAD positions with a tiny profit that won't pay for a burger.
I have a suspicion it's about to reverse and go long. If so, I will later short it from up there and I'd better not make same mistake like b4.
When in doubt, HEDGE
  • #212
  • Dec 18, 2014 11:06am Dec 18, 2014 11:06am
Quoting AdelPC
{quote} Can't say I'm doing well. But have just closed all EURCAD positions with a tiny profit that won't pay for a burger. I have a suspicion it's about to reverse and go long. If so, I will later short it from up there and I'd better not make same mistake like b4.
getting out of a losing trade with little or no loss is important, do not worry about the profit when you have a loser. the amount of money you won does not matter. it is about you gaining the winning edge, building a solid system and your statistics.
As Above, So Below
  • #213
  • Dec 24, 2014 7:41am Dec 24, 2014 7:41am
To Tashkent & those who may visit... Merry Christmas and Happy New Year !!
When in doubt, HEDGE
  • #214
  • Dec 24, 2014 11:19am Dec 24, 2014 11:19am
Quoting AdelPC
To Tashkent & those who may visit... Merry Christmas and Happy New Year !!
Thank you my friend! Wish you and all other visitors Merry Christmas and Prosperous New Year! Time to party!!!
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As Above, So Below
  • #215
  • Jan 22, 2015 6:09am Jan 22, 2015 6:09am
Quoting AdelPC
To Tashkent & those who may visit... Merry Christmas and Happy New Year !!
Merry Xmas and yes, beware of scalping in strongly trending market... Tash is right - will get burnt If you scalp, remember to go for smaller pips too... dont expect 100-200 pips unless its gold maybe lol.


Quoting tashkent
{quote} Thank you my friend! Wish you and all other visitors Merry Christmas and Prosperous New Year! Time to party!!! {image}
Hiya, hope you are well, my friend
  • #216
  • Jan 25, 2015 10:34am Jan 25, 2015 10:34am
Hey Tashkent, what happened with your trading explorer ?
  • #217
  • Edited 7:52am Jan 27, 2015 7:42am | Edited 7:52am
Quoting metta87
Hey Tashkent, what happened with your trading explorer ?
Hey Metta,
it was one of my experimental accounts; I had to give up the profits after some risky trades so closed the explorer because redistributed the remaining capital to several small accounts.
for the last couple of years my aim has been to double the account slowly first (this usually takes about 4-6 months) and then aggressive trading with the profit made. i did this with 4 accounts, doubled them, but have been hit when increased the leverage.
i will keep my experiment of high leverage and hitting the jackpot, at the same time will open an explorer soon for a conservative account.
As Above, So Below
  • #218
  • Jan 27, 2015 7:51am Jan 27, 2015 7:51am
Quoting MaryAnne
{quote} Merry Xmas and yes, beware of scalping in strongly trending market... Tash is right - will get burnt If you scalp, remember to go for smaller pips too... dont expect 100-200 pips unless its gold maybe lol. {quote} Hiya, hope you are well, my friend
Hello MaryAnn,
I am doing pretty well and looks like this year will be lucky (i was on the right side of the trades with two pairs - short USDCHF and short EURUSD at that unforgettable day). I read many were on the wrong side and lost their accounts. I am really sorry for them nobody knew that coming, it was pure luck.
These days pretty busy with some researches which has no relation to forex but trying not to miss the good moves at the same time. i may not have time to participate in FF often but will keep an eye on interesting topics.
I hope you are doing well my friend
As Above, So Below
  • #219
  • Feb 3, 2015 9:34pm Feb 3, 2015 9:34pm
Hi Tashkent, MaryAnne & visitors,

Hope FX 2015 has treated you all well, even in lights of all those surprising market moves.
I've been busy with some work that diverts attention from FX, feeling very annoyed.
A few open positions I have are whipped up, down, left, right & everywhere and I'm amazed at the unpredictability.
Hopefully will be back end-of-Feb, and be determined to fight to win.
When in doubt, HEDGE
  • #220
  • Feb 19, 2015 11:52am Feb 19, 2015 11:52am
Quoting AdelPC
Hi Tashkent, MaryAnne & visitors, Hope FX 2015 has treated you all well, even in lights of all those surprising market moves. I've been busy with some work that diverts attention from FX, feeling very annoyed. A few open positions I have are whipped up, down, left, right & everywhere and I'm amazed at the unpredictability. Hopefully will be back end-of-Feb, and be determined to fight to win.
Hi AdelPC!
good to hear from you.
This year I made a decision to learn a new language and my every spare minute is being spent on that purpose. So far memorized a few hundred words and how to read and write (because the letters are different)
right now taking easy on forex, because if i get involved too much in it, then forget about the new language
however i will be around.
As Above, So Below
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