Gordon Gekko's real-time Forex trading calls | Page 23 | Forex Factory

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Gordon Gekko's real-time Forex trading calls

  • #441
  • Edited 1:43pm Apr 1, 2015 1:05pm | Edited 1:43pm
GBPJPY buy 177.30
Close sell 177.47 (+)

EURUSD buy 1.0782
Close sell 1.0771 (-)

Position size was unequal in bias to GBPJPY, so Total +)
Both Positions should have been let to run some more.
Siddhartha G
  • #442
  • Edited 2:23pm Apr 1, 2015 1:09pm | Edited 2:23pm
Both positions closed a tad too early...

EURUSD Long 1.0771 ( I kid you not! Same number as Exit above - only the next 5th digit will be different)

LET THE HEIGHT OF MY and YOURS GREEN CANDLES BE LIKE THIS PICTURE
Attached Image
Siddhartha G
  • #443
  • Edited 1:42pm Apr 1, 2015 1:30pm | Edited 1:42pm
Now EarnNow and everybody else are asking:

Why does this guy Exits and enters so many times today ?!
What Do you suggest , - I mean, IN ADDITION TO SUGGESTION TO STAY OUT OF THE MARKET ,

In an Oscillatory Sideways Market Like Today in EURUSD (see
Attached Image (click to enlarge)
Click to Enlarge Name: Oscillating Market EURUSD 31-3 z.jpg Size: 47 KB
Siddhartha G
  • #444
  • Apr 1, 2015 1:55pm Apr 1, 2015 1:55pm
They did it again. Look at the phony breakout they created on the GBP/JPY to trap short sellers ...
Attached Image (click to enlarge)
Click to Enlarge Name: phonybreakout.jpg Size: 160 KB
Each losing trade is an opportunity to learn
  • #445
  • Edited 2:22pm Apr 1, 2015 2:04pm | Edited 2:22pm
Quoting EarnPipsNow
They did it again. Look at the phony breakout they created on the GBP/JPY to trap short sellers ... {image}
Yes Their Ruthless dexterity at this game has no stops and no reservations!

The Didn't full One In-Experienced Semi-Scalper Here No-no They did Not. I Flowed with Their Con-Operation rather nicely.

On the Second Look Now, it seems that the channel is "badly damaged" so to speak, and we are indeed witnessing
the Beginning of A Beautiful Friendship Downward Breakout (If You widen the candles and distances between'em you'll notice)
Siddhartha G
  • #446
  • Apr 1, 2015 2:08pm Apr 1, 2015 2:08pm
EarnNow
Doesn't it look to You that GBP/AUD is in a Breakout Mood now ...
It Seems to Be doing exactly what you have called a strong omen of a Breakout
= when a Hammer or a Shooting Star is DIS-Respected by the Price.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD 1-4-2015 c.jpg Size: 53 KB
Siddhartha G
  • #447
  • Apr 1, 2015 2:24pm Apr 1, 2015 2:24pm
EURUSD Long 1.0771
Close 1.0759 (-)
Siddhartha G
  • #448
  • Edited 2:38pm Apr 1, 2015 2:27pm | Edited 2:38pm
Quoting Isingh
Now EarnNow and everybody else are asking: Why does this guy Exits and enters so many times today ?! What Do you suggest , - I mean, IN ADDITION TO SUGGESTION TO STAY OUT OF THE MARKET , In an Oscillatory Sideways Market Like Today in EURUSD (see {image}
Naturally I don't know the details of your trading system or strategy and I could be totally wrong of course but here are a few things I noticed from your trading activity.

1: You tend to open and close positions rapidly and frequently. In the long run, this activity will eat a significant portion of your capital and/or profits.

2: Your risk reward is kind of low. You open a position and then close it a few moments later for little or no benefit. For example the short GBP/AUD trade went 40 pips against you before reversing in the right direction, allowing you to close at (almost) breakeven. So I guess your stop was set at 50 pips or higher.

3: Your take-profit is small too, compared to the risk you are taking (even though you don't mention the size of your stops).

Anyway, these are just a few observations, from trader to trader. But again I could be dead wrong, of course, as I don't know the details of your system.
Each losing trade is an opportunity to learn
  • #449
  • Apr 1, 2015 2:34pm Apr 1, 2015 2:34pm
Quoting EarnPipsNow
{quote} Naturally I don't know the details of your trading system or strategy and I could be totally wrong of course but here are a few things I noticed from your trading activity. 1: You tend to open and close positions rapidly and frequently. In the long run, this activity will eat a significant portion of your capital and/or profits. 2: Your risk reward is kind of low. You open a position and then close it a few moments later for little or no benefit. ..: Your take-profit is small too, compared to the risk you are taking (even though you don't...
Thrice True. Every word.

Yet It seems very hard to me to A) stay with the trend - when it takes a "breath" from time to time. And B) really take the loss when my perfectly correct signals - signal that the trade must be exited (w. loss). So more often then not I ignore exit-stop-loss signal and go into deep Risk, and inevitably occasional completely badly-wrong-sized Loss.
Siddhartha G
  • #450
  • Apr 1, 2015 2:44pm Apr 1, 2015 2:44pm
Quoting Isingh
Yet It seems very hard to me to A) stay with the trend - when it takes a "breath" from time to time. And B) really take the loss when my perfectly correct signals - signal that the trade must be exited (w. loss).
Hundreds of studies have shown that traders love to cut profit short and let losses run. It's part of our nature. We don't like losses so we keep a losing trade open hoping to at least get our money back. And we cut profits short because we are afraid of losing the money we already made.

Doing the exact opposite (cutting losses short and letting profits run) is extremely hard to do from most people, from a psychological point of view, that's why trading is so challenging.
Each losing trade is an opportunity to learn
  • #451
  • Edited 3:04pm Apr 1, 2015 2:51pm | Edited 3:04pm
Quoting EarnPipsNow
{quote} Hundreds of studies have shown that traders love to cut profit short and let losses run. It's part of our nature. We don't like losses so we keep a losing trade open hoping to at least get our money back. And we cut profits short because we are afraid of losing the money we already made. Doing the exact opposite (cutting losses short and letting profits run) is extremely hard to do from most people, from a psychological point of view, that's why trading is so challenging.
My very superficial observation of Your trading, (I really couldn't delve deeply into that, since was busy doing mine)
has shown to me - YOU KEEP TRUE TO YOUR DECIDED STRATEGY.

YOU KEEP TO STRATEGY ALWAYS.
Come Hell or high water.

This is Amazing to Observe.
What Do you say to yourself to negate the conditions you mentioned in the previous post ?

P.S. One thing I still cannot understand the reason for your action - is enter a trade (gbpaud short) JUST MOMENTS BEFORE a Significant News Release. How? Why?
Siddhartha G
  • #452
  • Apr 1, 2015 4:21pm Apr 1, 2015 4:21pm
Quoting Isingh
What Do you say to yourself to negate the conditions you mentioned in the previous post ?
Well if the trading rules are clearly defined, then there is zero thinking about the location of the stop and the exit. You just pull the trigger and let the market do its thing. That's all there is to it.

On the other hand, if the trading rules are fuzzy then failure is guaranteed.

Quoting Isingh
P.S. One thing I still cannot understand the reason for your action - is enter a trade (gbpaud short) JUST MOMENTS BEFORE a Significant News Release. How? Why?
I really, really do not care about imminent economic releases. If my system tells me to buy at A and put a stop at B, I buy at A and put a stop at B, period. And trust me on this one Isingh, this is exactly how trading should be: Clear rules, zero thinking, zero emotion.
Each losing trade is an opportunity to learn
  • #453
  • Apr 1, 2015 4:41pm Apr 1, 2015 4:41pm
Quoting Isingh
EarnNow Doesn't it look to You that GBP/AUD is in a Breakout Mood now ... It Seems to Be doing exactly what you have called a strong omen of a Breakout = when a Hammer or a Shooting Star is DIS-Respected by the Price. {image}
The price will usually test a shooting star (see chart below). Sometimes it will go half way (half the size of the candle that is) and then resume its downtrend. In rare occasions it could even exceed the high of the shooting star (to trap a few breakout hunters) and then drop like a stone. So let's wait and see how it goes
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud1h.jpg Size: 121 KB
Each losing trade is an opportunity to learn
  • #454
  • Apr 1, 2015 4:50pm Apr 1, 2015 4:50pm
long au 76000 sl 30 tp 120
  • #455
  • Apr 1, 2015 5:22pm Apr 1, 2015 5:22pm
Quoting goldfinger
long au 76000 sl 30 tp 120
Still trying to catch that bottom on the Aussie, eh?
Each losing trade is an opportunity to learn
  • #456
  • Apr 1, 2015 5:35pm Apr 1, 2015 5:35pm
Alright, let's get busy now, a few Japanese and Australian economic reports are coming up soon, according to the FXCM website: http://www.dailyfx.com/calendar
Each losing trade is an opportunity to learn
  • #457
  • Apr 1, 2015 6:42pm Apr 1, 2015 6:42pm
Short GBP/JPY at 177.35, 52 pip stop.
Each losing trade is an opportunity to learn
  • #458
  • Apr 1, 2015 7:04pm Apr 1, 2015 7:04pm
"Trade Mindfully: This book is way beyond the usual BS we find on the regular trading psychology books![/quote]

found on google books thanks


https://books.google.com/books?id=5L...%20pdf&f=false
Learn THEN Unlearn
  • #459
  • Edited 7:30pm Apr 1, 2015 7:15pm | Edited 7:30pm
Quoting HighFivve
"Trade Mindfully: This book is way beyond the usual BS we find on the regular trading psychology books!
found on google books thanks https://books.google.com/books?id=5L...%20pdf&f=false[/quote]


You are welcome HighFivve, happy reading

However, please note that some pages have been omitted and what you are currently reading is only a preview. That's how Google/Yahoo book works. The book itself costs $70 in the US ($77 in Canada).
Each losing trade is an opportunity to learn
  • #460
  • Apr 1, 2015 8:29pm Apr 1, 2015 8:29pm
Ok, there are no more economic reports that could possibly move the Forex market now (the next one is due in 7 hours) so I guess that's it for today.

Keep an eye on the GBP/AUD though, it's still alive and kicking hard.
Each losing trade is an opportunity to learn
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