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  • #975,461
  • Mar 30, 2015 11:47pm Mar 30, 2015 11:47pm
Quoting HelloOz
{quote} for someone who is trading on daily timeframe.. +/-250pips is normal?

Should be normal isn't it?

But again if one is trading on long time frames (daily, weekly etc), might just as well short at the top, off the lights and wait for parity Lol.
  • #975,462
  • Mar 30, 2015 11:53pm Mar 30, 2015 11:53pm
Quoting HelloOz
{quote} for someone who is trading on daily timeframe.. +/-250pips is normal?
if i trade the daily i prefer to bet at least 300 pips...cuz i will need to put big SL 60...will not hold for more than 60 pips, whatever the TF is...it's a loss of energy to spend time with -100 -300 pips
DONT ASK ME QUESTION, BUT U CAN BAN ME I DONT CARE!
  • #975,463
  • Mar 31, 2015 12:00am Mar 31, 2015 12:00am
Quoting TheNoob
{quote} if i trade the daily i prefer to bet at least 300 pips...cuz i will need to put big SL 60...will not hold for more than 60 pips, whatever the TF is...it's a loss of energy to spend time with -100 -300 pips
that means you have 20% chance of winning..
what if you have 4x losing streak? this equals to 4 x 60 pips = -240pips..

let say your 5th trade gets you 300pips.. at the end of the day/week you only get 60pips..
wouldnt that be worse?
  • #975,464
  • Mar 31, 2015 12:03am Mar 31, 2015 12:03am
Quoting HelloOz
{quote} that means you have 20% chance of winning.. what if you have 4x losing streak? this equals to 4 x 60 pips = -240pips.. let say your 5th trade gets you 300pips.. at the end of the day/week you only get 60pips.. wouldnt that be worse?
thats why if you have a profit factor of >1 and that your win rate is >50%
that is when you are profitable.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #975,465
  • Mar 31, 2015 12:04am Mar 31, 2015 12:04am
Quoting HelloOz
{quote} for someone who is trading on daily timeframe.. +/-250pips is normal?
The reality is "Yes". The higher the TF, the higher the "Pip-drawdown" will be. Yet essentially, my target is based on accuracy instead of the accumulation of pips.
5% a day keeps the 9 to 5 away.
  • #975,466
  • Mar 31, 2015 12:09am Mar 31, 2015 12:09am
Quoting ptyforex
{quote} The reality is "Yes". The higher the TF, the higher the "Pip-drawdown" will be. Yet essentially, my target is based on accuracy instead of the accumulation of pips.
you are so damn accurate like robin hood..
how did you manage to almost blow up your account?
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  • #975,467
  • Mar 31, 2015 12:10am Mar 31, 2015 12:10am
Quoting pedro319
NZDUSD Monthly pointing higher as weekly found support. Daily Bfly 1.27 + MR1 at 0.7725 should offer some resistance, after that 0.7816 is 1.618 Ext + MR2, finally 0.80 for double bottom target. I expected retracement to 0.74 area close to WPP + MPP to add entries, that hasn't happened yet. Currently price at WR1, retracement could start from here as well, these are the levels that should be in play in the next sessions. Posted M1 and D1 charts. {image} {image}
NZDUSD
Price slowly approaching area of interest 0.7400-30 as per my trading plan, I will be looking for smaller tfs patterns for added confluence.
We watch the charts from every angle so you don't have to!!
  • #975,468
  • Mar 31, 2015 12:11am Mar 31, 2015 12:11am
The reality is a swing trader may be ok with a 250 pip loss being 10% of his account P/L. While a scalper may be ok with risking .2% of his account per PIP. In which if 10% draw down is a stop for him, he knows that he has 50 pip over all loss (Assuming he keeps the same lot size) In order to his target of a 1:1 ratio.
I personally rather scalp the 50 pips then sit and wait to hit 50 pips, and spend most of my time in red. That of course is personal preference. As one is aiming for accuracy, should you enter into a trade with accuracy you can simply trail stop your way to any amount of profit once you have hit the perfect entry.
5% a day keeps the 9 to 5 away.
  • #975,469
  • Mar 31, 2015 12:14am Mar 31, 2015 12:14am
Quoting ptyforex
The reality is a swing trader may be ok with a 250 pip loss being 10% of his account P/L. While a scalper may be ok with risking .2% of his account per PIP. In which if 10% draw down is a stop for him, he knows that he has 50 pip over all loss (Assuming he keeps the same lot size) In order to his target of a 1:1 ratio. I personally rather scalp the 50 pips then sit and wait to hit 50 pips, and spend most of my time in red. That of course is personal preference. As one is aiming for accuracy, should you enter into a trade with accuracy you can simply...
you should probably tone down on your accuracy stuff.. you've just been shown hand by HelloOz
Quoting HelloOz
{quote} you are so damn accurate like robin hood.. how did you manage to almost blow up your account? {image}
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #975,470
  • Mar 31, 2015 12:14am Mar 31, 2015 12:14am
Quoting fxtyrant
I'm back... good gosh was reading the forum while i was suspended and the whole thing turned bad... someone here was even trying to claim that the Germans have 11 trillion euro in deposits and that they're the riches nation on earth.... gosh... Anyways, my trading is back open to public. followers can enjoy the growth again.
Glad you are back !

How do you think of AUD trend? I am short at the moment......
  • #975,471
  • Mar 31, 2015 12:14am Mar 31, 2015 12:14am
Quoting HelloOz
{quote} you are so damn accurate like robin hood.. how did you manage to almost blow up your account? {image}
The goal is to be accurate, but there are times in which your bias (pulling stop loss) leads to high drawdown. Consistency is a work in progress in my case, but there are my trade explorers which at least proves that I am a real trader and with consistency I am able to achieve my goals.
5% a day keeps the 9 to 5 away.
  • #975,472
  • Mar 31, 2015 12:16am Mar 31, 2015 12:16am
Quoting vinpang2
{quote} Glad you are back ! How do you think of AUD trend? I am short at the moment......
AUD. flat...
but AUDUSD bearish 0.75 is expected.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #975,473
  • Mar 31, 2015 12:17am Mar 31, 2015 12:17am
Quoting pedro319
EURUSD Fundamental: Market awaits more info on US economy and investors somehow reluctant in buying Dollar before jobs data comes out next week. We are still at the rate hike "drama" and Yellen last Friday pretty much reiterated the FOMC speech which indicates a less aggressive take regarding timeline for any rate changes. What does it mean for us? It means that chances of further correction are not ruled out and this indecision sentiment seen on the charts can stay for longer, my advice is therefore to manage your risk properly and consider reducing...
EURUSD
1.27 extension H4 H1 ABCD confluence with WS1 at 1.0750. If market wants to return to the upside this could well be it, in Bull markets WS1 usually holds, critical level to manage positions.
We watch the charts from every angle so you don't have to!!
  • #975,474
  • Mar 31, 2015 12:23am Mar 31, 2015 12:23am
Quoting ptyforex
{quote} The goal is to be accurate, but there are times in which your bias (pulling stop loss) leads to high drawdown. Consistency is a work in progress in my case, but there are my trade explorers which at least proves that I am a real trader and with consistency I am able to achieve my goals.
the difference between you and me is that i have actually achieved before talking about accuracy and money management as reflected by my trade explorer...
but you talking about accuracy when your trade explorer is not looking good. doesnt add value to you....
pretty sure a lot of people here are starting to feel like you're being pretentious. since you havent quite proven your "accuracy" on trades
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #975,475
  • Mar 31, 2015 12:23am Mar 31, 2015 12:23am
Quoting HelloOz
{quote} that means you have 20% chance of winning.. what if you have 4x losing streak? this equals to 4 x 60 pips = -240pips.. let say your 5th trade gets you 300pips.. at the end of the day/week you only get 60pips.. wouldnt that be worse?
i can have even 40% ofc...it depend of the situations...but yes, big trade= less chance to success...if you put a tp 300 pips it will go 150 green pips then it will turn back and you will get 300 RED PIPS in no time then you will rage quit like forex tyran...higher than 60 red pips means you will lose min 1 week to hold this sh.t, and more likely 2 weeks or forever if you're totally wrong...
DONT ASK ME QUESTION, BUT U CAN BAN ME I DONT CARE!
  • #975,476
  • Mar 31, 2015 12:28am Mar 31, 2015 12:28am
Quoting pedro319
{quote} EURUSD 1.27 extension H4 H1 ABCD confluence with WS1 at 1.0750. If market wants to return to the upside this could well be it, in Bull markets WS1 usually holds, critical level to manage positions.
Yes, waiting to see how 1.075-1.076 goes..
  • #975,477
  • Mar 31, 2015 12:33am Mar 31, 2015 12:33am
OH, for heaven's sake. To everyone who's bashing fxtyrant for being "cocky" and talking about how he was right about the eur/usd dropping:

The writing is practically on the wall for the eur/usd to drop further. Does the word "fundamentals" not mean anything to you? I don't understand why you're criticizing a mere -250pip loss given his low leverage, cache of reserves, and more importantly, non-scalping outlook. Fundamentals still haven't changed. It's funny how most of the traders worth their salt never bothered to go into a rant against Fxtyrant, and those who DID criticize him only criticized his personality, not whether he could profit or not.

Quoting ptyforex
The reality is a swing trader may be ok with a 250 pip loss being 10% of his account P/L. While a scalper may be ok with risking .2% of his account per PIP. In which if 10% draw down is a stop for him, he knows that he has 50 pip over all loss (Assuming he keeps the same lot size) In order to his target of a 1:1 ratio. I personally rather scalp the 50 pips then sit and wait to hit 50 pips, and spend most of my time in red. That of course is personal preference. As one
is aiming for accuracy, should you enter into a trade with accuracy you can simply...
As a person who does both scalping and swing trading as part of his income, I have a few things to note here:

1: Perfect entry for scalping is possible, but shouldn't be a goal. Scalping markets often change quickly in a matter of seconds and if you try to get the "best" price, you will find yourself disappointed far more than if you just accepted a relatively close price. I personally find that getting a few pips to 10-20 pips off in the best price (depending on the R:R) for scalping is far more profitable than entering the market at the theoretical best price, since markets often don't hit said prices or have already scraped it a few moments prior.

2: I can say with confidence that swing trading is safer if your trading style usually wins a majority of your trades. Negative pips don't matter, as long as risk management is in place & your trading strategy for that currency pair isn't invalidated. If you get scared just because the market didn't go the exact way you expected and you closed your trade despite NOT receiving a confirmation signal from your trading strategy to leave, then you shouldn't be trading to begin with.

And if you get scared of the drawdown from a swing trade, then I have this to ask: why are you over leveraging?

3: Profit is the first and only rule of forex. At the end of the day, Fxtyrant will probably maintain his high winning rate and make a profit. His system works, his account is well within manageability, and he's still in the game. That's the end of it.


Good god. Now I remember why I rarely post here anymore.
  • #975,478
  • Mar 31, 2015 12:33am Mar 31, 2015 12:33am
Quoting TheNoob
{quote} i can have even 40% ofc...it depend of the situations...but yes, big trade= less chance to success...if you put a tp 300 pips it will go 150 green pips then it will turn back and you will get 300 RED PIPS in no time then you will rage quit like forex tyran...higher than 60 red pips means you will lose min 1 week to hold this sh.t, and more likely 2 weeks or forever if you're totally wrong...
i didnt rage quit. im still around and still perfectly profitable
but hey, have a nice day. how are your longs up at 1.20 though?
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #975,479
  • Mar 31, 2015 12:36am Mar 31, 2015 12:36am
Quoting Vermillion
OH, for heaven's sake. To everyone who's bashing fxtyrant for being "cocky" and talking about how he was right about the eur/usd dropping: The writing is practically on the wall for the eur/usd to drop further. Does the word "fundamentals" not mean anything to you? I don't understand why you're criticizing a mere -250pip loss given his low leverage, cache of reserves, and more importantly, non-scalping outlook. Fundamentals still haven't changed. It's funny how most of the traders worth their salt never bothered to go into a rant against Fxtyrant,...
i applaud
very well written.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #975,480
  • Mar 31, 2015 12:37am Mar 31, 2015 12:37am
@ fxtyrant

Thanks for suggesting Peter Bernstein's Against The Gods - The remarkable story of risk ; excellent book with many trading related suggestions.

I haven't finished it yet, but thought I would thank you before someone inflames you again, lol.
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