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EURUSD

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#955,041
Jan 27, 2015 10:53am Jan 27, 2015 10:53am

ClinicalEx
| Joined Dec 2014 | Status: Trader | 503 Posts

Quoting goldfinch

Disliked

{quote} Following a mentor will never work, there is not a single succesful trader that would ever contemplate teaching, unless teaching pays 250k a month. The same argument goes for borrowing or buying a succesful system, nobody who has one would ever in their right mind sell it or worse give it away. {quote} Absolutely as 90%+ of retailers fail, fading them will pay of eventually.

Ignored

Hmmm. Not so sure about the former. I think the bullshit filter kicks in alot sooner than learning how to trade and there's alot to learn even if from a handful of members on FF.

#955,042
Jan 27, 2015 10:53am Jan 27, 2015 10:53am

maximinus
Joined May 2010 | Status: Non Member | 2,751 Posts

Quoting mkvy

Disliked

{quote} At least its something to try... reading loads of books and studying and following many mentors has not worked for me

Ignored

Whenever you think that you have a new strategy, backtest it on different time frame and currencies. Play with the indis and backtest, you'll see that almost fails, but you'll learn why they dont work and that is where the winning game starts.

GL

Don't be smart. Be rich.

#955,043
Jan 27, 2015 10:54am Jan 27, 2015 10:54am

Dovilo
| Joined Aug 2014 | Status: Trader | 209 Posts

Trendline broke.

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#955,044
Jan 27, 2015 10:55am Jan 27, 2015 10:55am

BlueGas
Joined Nov 2008 | Status: Trader | 2,177 Posts

Quoting goldfinch

Disliked

{quote} Following a mentor will never work, there is not a single succesful trader that would ever contemplate teaching, unless teaching pays 250k a month. The same argument goes for borrowing or buying a succesful system, nobody who has one would ever in their right mind sell it or worse give it away. {quote} Absolutely as 90%+ of retailers fail, fading them will pay of eventually.

Ignored

But hey, at least you can blame someone

#955,045
Jan 27, 2015 10:59am Jan 27, 2015 10:59am

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,208 Posts

Quoting Rockerzeus

Disliked

{quote} Do you think it will go that high, nearly %70 retracement of ECB move?

Ignored

since 3993 few have. plus it hasn't returned to 1196.

those who can, do. those who cant, talk about those who can

#955,046
Jan 27, 2015 11:02am Jan 27, 2015 11:02am

wendyqq
| Joined May 2014 | Status: Trader | 121 Posts

Quoting scalperdebes

Disliked

{quote} sorry wrong thread.

Ignored

LOL too many trades huh

#955,047
Jan 27, 2015 11:03am Jan 27, 2015 11:03am

maximinus
Joined May 2010 | Status: Non Member | 2,751 Posts

Quoting goldfinch

Disliked

{quote} And you are going to take that answer as the work required to be succesful? Then retailers wonder why they fail.

Ignored

Hi, is there a chance that you post a chart at least once, (live or closed trade chart) to get a better idea of your trading phi.

Don't be smart. Be rich.

#955,048
Jan 27, 2015 11:03am Jan 27, 2015 11:03am

Pharm0r
Joined Apr 2013 | Status: I'm learnding! | 8,973 Posts

The 90+ % retail traders fail is hog wash. It's closer to 30/70

http://www.forexfactory.com/showthre...48#post5568348

Unless you can prove otherwise, its simply not true. Just a Legend that gets regurgitated over and over and over. Now maybe in the constraints of "90% of traders fail after 10 years" then you may have something, but without a forex specific study to back it- it's a myth. You can argue like others have in the thread I posted- but without proof or a study showing otherwise, it's just a theory.

Granted, outliers like the SNB peg, Wars, QE, etc can shift the Quarterly skew, but not to 95%.

If you put the work in, you can be successful at trading. There are hundreds of thousands of people that make a living trading in general- fx is just a portion of the whole. People assume that a 500+ millionaire or a billionaire are the successful traders, where as they are the upper outliers, not the median to the whole.

#955,049
Jan 27, 2015 11:05am Jan 27, 2015 11:05am

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,208 Posts

aj short trade looking better with a --93.58 close now..

those who can, do. those who cant, talk about those who can

#955,050
Jan 27, 2015 11:06am Jan 27, 2015 11:06am

pedro319
| Commercial User | Joined Jul 2013 | 7,912 Posts

EURUSD
I will try to Sell at 1.1457 and 1.1535 upon rejection, if price passes this last one I am leaving it until better op comes.
Fibs not completed price should go higher.

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We watch the charts from every angle so you don't have to!!

#955,051
Jan 27, 2015 11:07am Jan 27, 2015 11:07am

Geppy
Joined Sep 2007 | Status: Trader | 6,871 Posts

Hey all, I think it's key to remember the overall trend is down. This is a retracement, a healthy one at that, and needed to keep the trend intact (PA can't go in a straight line forever). I'm watching the 4-hour timeframe for spots to get short and staying patient. Let's not lose site of the forest through the trees.

check out my blog: forexmademillionaire dot com

#955,052
Jan 27, 2015 11:07am Jan 27, 2015 11:07am

maximinus
Joined May 2010 | Status: Non Member | 2,751 Posts

Quoting Pharm0r

Disliked

The 90+ % retail traders fail is hog wash. It's closer to 30/70 http://www.forexfactory.com/showthre...48#post5568348 Unless you can prove otherwise, its simply not true. Just a Legend that gets regurgitated over and over and over. Now maybe in the constraints of "90% of traders fail after 10 years" then you may have something, but without a forex specific study to back it- it's a myth. Granted, outliers like the SNB peg, Wars, QE, etc can shift the Quarterly skew, but not to 95%. If you put the work in, you can be successful...

Ignored

I think there is a study published by citi and posted in Infi's thread.

Don't be smart. Be rich.