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  • #974,421
  • Mar 26, 2015 5:33pm Mar 26, 2015 5:33pm
Quoting Ck87
{quote} Can't get it right every time, and have to remember that the market needs to beat everybody up a bit at each zone. But at least you knew the level to get out 1.0906... and now, the question is, what are the levels lower that we battle for?
Well, I got out at 1.0946, but whatever.

I'm not seeing any solid support below for hundreds of pips. We might shake out weak shorts (like myself) before heading lower, but today the heavy sellers took advantage of liquidity at the break of 1.1042 and that says a lot, IMO.
  • #974,422
  • Mar 26, 2015 5:36pm Mar 26, 2015 5:36pm
Quoting Zappa
{quote} Heyy...I'm a sensitive guy!


So am I, my friend!!!

Lesson you just showed is NOT to be sensitive/emotional/pig-headed once in a trade!

Bravo!
  • #974,423
  • Mar 26, 2015 5:37pm Mar 26, 2015 5:37pm
Quoting GlobalMacro
{quote} So ... What size you putting on big guy?
I start out small, but I was up to 20 lots in that last EURUSD trade. I post screenshots here and there. Right now I am in a new short with 5 lots.
  • #974,424
  • Mar 26, 2015 5:38pm Mar 26, 2015 5:38pm
Quoting kenfen69
{quote} So am I, my friend!!! Lesson you just showed is NOT to be sensitive/emotional/pig-headed once in a trade! Bravo!
I don't think its wrong to be confident in your trade so long as you protect yourself. I was arguing with a guy (if I remember correctly) who acted like it was impossible what I was saying.
  • #974,425
  • Mar 26, 2015 5:39pm Mar 26, 2015 5:39pm
Quoting kenfen69
{quote} Yer plan was perfect! Trade didn't work...who gives a shite? The next one will! Your trade is a PERFECT example of how to execute a plan. FAR better that pulling (the trigger on a trade) and praying! Well done! People should learn from how you handled that.
Agree with this 100%.
  • #974,426
  • Mar 26, 2015 5:39pm Mar 26, 2015 5:39pm
Quoting fxtyrant
guys. Im gona make a bold call 1.07 by end of this week
Still valid despite the stop hunt in the first half of the week
Monday pump for the friday dump
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #974,427
  • Mar 26, 2015 5:39pm Mar 26, 2015 5:39pm
Quoting kenfen69
{quote} Yer plan was perfect! Trade didn't work...who gives a shite? The next one will! Your trade is a PERFECT example of how to execute a plan. FAR better that pulling (the trigger on a trade) and praying! Well done! People should learn from how you handled that.
Thank you, though I did make some mistakes, as usual.
  • #974,428
  • Mar 26, 2015 5:40pm Mar 26, 2015 5:40pm
Quoting Zappa
{quote} I don't think its wrong to be confident in your trade so long as you protect yourself.
Truth
  • #974,429
  • Mar 26, 2015 5:41pm Mar 26, 2015 5:41pm
Quoting Zappa
{quote} Thank you, though I did make some mistakes, as usual.
Can't be perfect that's why you weren't "all in" I make that mistake as an aggressive trader....... and need 2 work on playing smaller handling the greedy demon inside :0
And I still agree we go higher, but first people in higher zones need at least a small beating ...maybe we'll call it a spanking Doubt we go much lower than 1.05 if we do get there.
  • #974,430
  • Mar 26, 2015 5:43pm Mar 26, 2015 5:43pm
Quoting Zappa
{quote} I start out small, but I was up to 20 lots in that last EURUSD trade. I post screenshots here and there. Right now I am in a new short with 5 lots.
20 isn't big ...
but why not start big since risk is lower starting out and lighten off if things go wrong...
Hear the music before the song is over ...
  • #974,431
  • Mar 26, 2015 5:43pm Mar 26, 2015 5:43pm
Quoting Zappa
{quote} {quote} May I ask you what size your trading with...
Quoting GlobalMacro
{quote} So ... What size you putting on...
Percentages (DD <---Drawdown) and Risk/Reward are all that should really matter to anyone, in my opinion.

Lot size is irrelevant. If you and your broker can handle 1000 lots...great!
  • #974,432
  • Mar 26, 2015 5:44pm Mar 26, 2015 5:44pm
Quoting Ck87
{quote} Can't be perfect that's why you weren't "all in" I make that mistake as an aggressive trader....... and need 2 work on playing smaller handling the greedy demon inside :0 And I still agree we go higher, but first people in higher zones need at least a small beating ...maybe we'll call it a spanking Doubt we go much lower than 1.05 if we do get there.
Well, no, my version of "all in" is slightly different than yours.
  • #974,433
  • Mar 26, 2015 5:47pm Mar 26, 2015 5:47pm
Quoting GlobalMacro
{quote} 20 isn't big ... but why not start big since risk is lower starting out and lighten off if things go wrong...
I know its not big, but it seems to be big for this website where everyone is playing with 500$ accounts or demos (lol). I start out small and add size as trade moves in my way, ONLY when I can move the stop closer. This has worked very well for me. And 20 lots is HUGE compared to what I used to trade with!
  • #974,434
  • Mar 26, 2015 5:47pm Mar 26, 2015 5:47pm
Quoting kenfen69
{quote} {quote} Percentages (DD <---Drawdown) and Risk/Reward are all that should really matter to anyone, in my opinion. Lot size is irrelevant. If you and your broker can handle 1000 lots...great!
Agree with the premise of what you're saying Ken ... but size definitely matters , it affects execution and other things so it won't be the same ...
Hear the music before the song is over ...
  • #974,435
  • Mar 26, 2015 5:50pm Mar 26, 2015 5:50pm
Quoting kenfen69
{quote} {quote} Percentages (DD <---Drawdown) and Risk/Reward are all that should really matter to anyone, in my opinion. Lot size is irrelevant. If you and your broker can handle 1000 lots...great!
Definitely, and if you have a really big edge (say 60%-80% accuracy, which is clearly not easy as we know, there's nothing wrong with 5% drawdown in a well planned, bigger swing trade, with way higher risk reward).. I mean if you're going to be right 50% of the time on a 3:1 R/R , you're going to do pretty well And of course, you're not always limited to that, you can have 10:1 or more, and also add to positions if it's a big move, but gotta make sure that's managed properly well.

It's an interesting debate though on what the max risk should be, once you're in the millions, 2% or so is kind of the commonly accepted amount. But if your edge is really that big then 3-5% can't be too disastrous. But this is clearly a matter of what your edge is if you want to have it sequenced out for max returns on your investments. One move you see coming could be a higher % big move than others and you decide to risk 5% on that one instead of 2% etc, That can't be that bad of a move if you're accurate and have a bigger edge than the norm

As a professional poker player, I understand bankroll management very well, the funny thing is the trading arena can become a gambling/adrenaline rush avenue for me If I'm not disciplined enough. Lacking that discipline for a while now in trading, but going to turn it around after getting punished for a while on max leverage
Nothing like a nice walk on the beach in Mexico to get your mind going on trading and risk management.... And a little mexican ganja on the side.. ha. The most important thing for any trader to do is to fight the greedy demon inside him, more so for a trader with an edge, some just suck, that's the reality.
  • #974,436
  • Mar 26, 2015 5:53pm Mar 26, 2015 5:53pm
Quoting kenfen69
{quote} {quote} Percentages (DD <---Drawdown) and Risk/Reward are all that should really matter to anyone, in my opinion. Lot size is irrelevant. If you and your broker can handle 1000 lots...great!
If I see anybody making tens of thousands of dollars or more on a trade I am more likely to listen to what they're saying.

But yeah, for personal purposes, what you said is absolutely true.
  • #974,437
  • Mar 26, 2015 5:54pm Mar 26, 2015 5:54pm
Quoting GlobalMacro
{quote} Agree with the premise of what you're saying Ken ... but size definitely matters , it affects execution and other things so it won't be the same ...
WHat are you playing with (respectfully)?
  • #974,438
  • Mar 26, 2015 5:55pm Mar 26, 2015 5:55pm
Quoting BooG
{quote} Simplicity is beautiful, isn't it? Your chart made me want to share my view. Although i trade only intra-day, i keep this long-term photoshop file that i update monthly. In my view tomorrow's gonna be an important day. I feel confident about 1.025 for September, which hopefully will be the usa rate hike. After that event, all technicals fall apart and the moves will be brutal, making the E=U achievable. (can't wait to see the forums in that week ) ) BUT, my stare-at-the-charts experience tells me that the blue square might happen the following...
Yes, 1.15 is an interesting number indeed
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 29 KB
Click to Enlarge Name: EURUSDMonthly.png Size: 33 KB
Come with me if you want to live....
  • #974,439
  • Mar 26, 2015 5:56pm Mar 26, 2015 5:56pm
Quoting Zappa
{quote} Thank you, though I did make some mistakes, as usual.
Mistakes made are the key to knowledge...particularly if they're your own. We make them until we die...but hopefully not the same ones!

Well played, sir...keep it up!
  • #974,440
  • Mar 26, 2015 5:58pm Mar 26, 2015 5:58pm
Quoting kenfen69
{quote} Mistakes made are the key to knowledge...particularly if they're your own. We make them until we die...but hopefully not the same ones! Well played, sir...keep it up!
This is what I always say, "Learn from your mistakes." It is how we grow.

Thanks.
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