Gordon Gekko's real-time Forex trading calls | Page 27 | Forex Factory

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Gordon Gekko's real-time Forex trading calls

  • #521
  • Apr 8, 2015 3:28pm Apr 8, 2015 3:28pm
Quoting EarnPipsNow
{quote} While it is true that preservation of capital and money management are very important, in and of itself limiting risk will never give the trader any edge. Just like setting a risk reward ratio to 3 to 1 (risk 1 unit to make 3) on each trade will never give the trader any edge whatsoever. The only thing that will give the trade an edge is his (fully tested) trading system, otherwise he is just making random calls with no particular built-in edge.
Yes, but Every system has Built In
Functions of Stop-Size and Take-Profit-Size.

As is well proven they are essential parts of every working system.
Siddhartha G
  • #522
  • Apr 8, 2015 3:30pm Apr 8, 2015 3:30pm
Quoting EarnPipsNow
{quote} +50 pips, moving stop to break-even.
Out at 1.9340, 30 pip profit.

Will re-short GBP/AUD later...
Each losing trade is an opportunity to learn
  • #523
  • Apr 8, 2015 3:34pm Apr 8, 2015 3:34pm
Quoting Isingh
{quote} Yes, but Every system has Built In Functions of Stop-Size and Take-Profit-Size. As is well proven they are essential parts of every working system.
Yes, that's the money management part.

But first the system itself must have a statistical edge, because no money management strategy in the world can turn a losing/unprofitable system into a winning system.
Each losing trade is an opportunity to learn
  • #524
  • Apr 8, 2015 3:34pm Apr 8, 2015 3:34pm
Quoting EarnPipsNow
{quote} Out at 1.9340, 30 pip profit. Will re-short GBP/AUD later...
I am still Short it

By the way:
You have taken profit to Limit Risk. -20 pips out of 50 (-0.4 of Profit) seems comparable to your Stop-Loss.
Siddhartha G
  • #525
  • Edited 3:58pm Apr 8, 2015 3:46pm | Edited 3:58pm
Quoting Isingh
{quote} I am still Short it By the way: You have taken profit to Limit Risk. -20 pips out of 50 (-0.4 of Profit) seems comparable to your Stop-Loss.
At what price did you short GBP/AUD?

I banked 30 pips because the system is sending warning signals that a very short term counter-move is possible.

Also keep in mind that those Asian/Australian traders are going to wake up soon, see the profits they made while they were sleeping and this profit taking activity will probably reverse the trend of the day, at least for a while...
Each losing trade is an opportunity to learn
  • #526
  • Apr 8, 2015 4:00pm Apr 8, 2015 4:00pm
Quoting EarnPipsNow
{quote} At what price did you short GBP/AUD? I banked 30 pips because the system is sending warning signals that a very short term counter-move is possible. Also keep in mind that those Asian traders are going to wake up soon, see the profits they made while they were sleeping and this profit taking activity will probably reverse the trend of the day, at least for a while...
Good Advice. AUD not in his strongest anyway.
Shorted a bit later than you.

Exiting in about now.
Siddhartha G
  • #527
  • Apr 8, 2015 4:04pm Apr 8, 2015 4:04pm
Short GBP/AUD at 1.9360 (limit order), 31 pip stop.
Each losing trade is an opportunity to learn
  • #528
  • Apr 8, 2015 4:07pm Apr 8, 2015 4:07pm
EarnNow - are you still there?
From my view the volatility of all pairs at about these hours becomes all but dried-up.
As we've discussed already - still it is NOT late on your side of the pond.
What is it with all your Wall Street buddies - taking siesta without being in Greece or Spain ?

It is rather late for me now. BTW pay attention to EURUSD - it seems on his last foothold before dropping...
Siddhartha G
  • #529
  • Apr 8, 2015 4:26pm Apr 8, 2015 4:26pm
Quoting Isingh
What is it with all your Wall Street buddies - taking siesta without being in Greece or Spain ?
Well they are all hitting the bars in Manhattan now, I guess.

Personally I am having a Vodka Martini with this no-good Bud Fox, as we speak

http://ambitiondaily.com/wp-content/...yDfLd_122.jpeg

Quoting Isingh
BTW pay attention to EURUSD - it seems on his last foothold before dropping...
I will, have a good night Isingh.
Each losing trade is an opportunity to learn
  • #530
  • Apr 8, 2015 5:00pm Apr 8, 2015 5:00pm
Alright, so what's left for us American traders before we call it a day?

Let's see here, AiG Performance of Construction Index, due at 7:30 PM (New York time). This Australian report could create a few surprises...
Some Japanese reports of medium importance are also due at 7:50 PM, 20 minutes later.

And of course let's not forget about the very important Bank of Japan's Monthly Economic Report for April, at 1 AM.
Each losing trade is an opportunity to learn
  • #531
  • Apr 8, 2015 6:21pm Apr 8, 2015 6:21pm
Quoting EarnPipsNow
Short GBP/AUD at 1.9360 (limit order), 31 pip stop.
Bypassing pending order and shorting GBP/AUD at 1.9355 (instead of 1.9360), 31 pip stop.
Each losing trade is an opportunity to learn
  • #532
  • Apr 8, 2015 7:00pm Apr 8, 2015 7:00pm
GBP/AUD currently testing the 38.2% Fib level...
Each losing trade is an opportunity to learn
  • #533
  • Edited 8:36pm Apr 8, 2015 7:35pm | Edited 8:36pm
Quoting EarnPipsNow
{quote} Bypassing pending order and shorting GBP/AUD at 1.9355 (instead of 1.9360), 31 pip stop.
Stopped out, 31 pip loss.

But who cares, I already banked 30 pips earlier on that pair, so I lost 1 pip overall on GBP/AUD, big deal indeed .
Each losing trade is an opportunity to learn
  • #534
  • Apr 8, 2015 8:40pm Apr 8, 2015 8:40pm
Quoting EarnPipsNow
Short EUR/JPY at 129.70, 42 pip stop.
This is the only active trade for the moment, let's see how it goes after the Japanese numbers (1 AM, NY time).
Each losing trade is an opportunity to learn
  • #535
  • Apr 8, 2015 8:50pm Apr 8, 2015 8:50pm
Short GBP/AUD at 1.9352, 41 pip stop.

This is not "revenge trading", just another short signal on that pair.
Each losing trade is an opportunity to learn
  • #536
  • Apr 9, 2015 12:06am Apr 9, 2015 12:06am
Quoting EarnPipsNow
Short GBP/AUD at 1.9352, 41 pip stop.
Out at 1.9342, +10 pips.
Each losing trade is an opportunity to learn
  • #537
  • Apr 9, 2015 12:09am Apr 9, 2015 12:09am
Quoting EarnPipsNow
Short EUR/JPY at 129.70, 42 pip stop.
Out at 129.53, +17 pips.
Each losing trade is an opportunity to learn
  • #538
  • Apr 9, 2015 1:46am Apr 9, 2015 1:46am
...who da fak wants to trade gbp/aud or cad/jpy??
  • #539
  • Apr 9, 2015 10:23am Apr 9, 2015 10:23am
Wow, by exiting the short EUR/JPY and the short GBP/AUD positions prematurely, I left 120 pips and 200 pips on the table (total 320 pips), as of this writing.
Each losing trade is an opportunity to learn
  • #540
  • Apr 9, 2015 11:57am Apr 9, 2015 11:57am
Quoting speculant
...who da fak wants to trade gbp/aud or cad/jpy??
Please watch your language.
Each losing trade is an opportunity to learn
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