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EURUSD

  • #994,981
  • May 30, 2015 8:02pm May 30, 2015 8:02pm
Quoting forexer11
What I have to do on this positions {image}
hold on to the eurusd itll come back down just watch.
you will regret if you closed and it began to fall.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #994,982
  • May 30, 2015 8:07pm May 30, 2015 8:07pm
Quoting cenetti
{quote} Very true. People here get defensive, taking it as an insult if you don't confirm their prediction/position. Good traders are good at handling losses, just like a good fighter knows how to take punches.
Great traders are even better to not have to handle loss but to manage drawdown so that they can turn a losing situation into a winning one. like i have demonstrated time and time again.

its almost impossible to be great an both Entry and Exit of a trade.
but if you can master 1 either Entry or Exit. then you can still walk away profitable.

Master: Entry benefits.
Great with entering trades with minimal drawdowns, but could potentially miss out on pips as they fail to realise when to take profit or close a trade in profit. often closing a little too late or early.

Master: Exit benefits
Great with Take Profits, and Stop Losses, once executed its done and dusted. however entry might not be accurate all the time leading to a higher drawdown.

I myself am more a Exit focused trader. when i take profit i take profit no questions asked.
but it means ill suffer drawdowns on my trade from time to time, its up to me to manage this drawdown. and so far im doing pretty well so far. since October still at 100% winning rate on my (standard) account.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #994,983
  • May 30, 2015 8:09pm May 30, 2015 8:09pm
Quoting fxtyrant
{quote} hold on to the eurusd itll come back down just watch. you will regret if you closed and it began to fall.
of course it will fall at some point, what goes up must comes down. Question is, when? I mean, it could still climb a long ways before coming back down. You are already in for -90 pips at this point, just how far are you willing to let that go? personally my stops are rarely in excess of 25 pips.
  • #994,984
  • May 30, 2015 8:18pm May 30, 2015 8:18pm
Quoting bladerogers
{quote} of course it will fall at some point, what goes up must comes down. Question is, when? I mean, it could still climb a long ways before coming back down. You are already in for -90 pips at this point, just how far are you willing to let that go? personally my stops are rarely in excess of 25 pips.
your stops rarely in excess of 25 pips because you are day trading. i often hold on to trades over period of days. or weeks.
my previous trade of short EURUSd at 1.12 with TP 1.0005 okay closed out at 1.1120 but that trade i held it despite it going all the way up to 1.1480 perhaps that should indicate how far i can hold.

but i usually win. my entry usually turns back into profitability without me having to add more positions or anything.
just look at my track record.
besides currently at around -90 pips for 120 pips profit target.
risk reward is still better than 1.
still a good trade.

also im making pretty good consistent average monthly return above risk free rate, look at my system's Sortino Ratio.

Because Sortino ratio is a ratio to measure how good a system returns on average monthly basis, and penalizes downside volatility to trades.

my (Standard) account has a ratio of around 5
my (Aggressive) account has a ratio of around 3.... (Despite a higher return

Standard account gain: 90%
Aggressive account gain: 120%

So this shows that Standard account gives a better average trade with less downside risk than my aggressive account. thats why i share out my standard account to public only.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #994,985
  • May 30, 2015 8:41pm May 30, 2015 8:41pm
Quoting orabi
... and as i said 1.1040 then 1.0920 then long up to 1.33648
Whoa! Typo?
  • #994,986
  • May 30, 2015 8:44pm May 30, 2015 8:44pm
Quoting forexer11
What I have to do on this positions {image}
I've got a EUR/USD short that's further underwater than yours, and I'm just gonna hold it. Like many others here, I strongly suspect EUR is gonna go much further down (even though I was obviously wrong on the timing of my current short ).
  • #994,987
  • May 30, 2015 8:53pm May 30, 2015 8:53pm
Quoting fxtyrant
{quote} your stops rarely in excess of 25 pips because you are day trading. i often hold on to trades over period of days. or weeks. my previous trade of short EURUSd at 1.12 with TP 1.0005 okay closed out at 1.1120 but that trade i held it despite it going all the way up to 1.1480 perhaps that should indicate how far i can hold. but i usually win. my entry usually turns back into profitability without me having to add more positions or anything. just look at my track record. besides currently at around -90 pips for 120 pips profit target. risk...
actually I typically hold my trades for 3-5 days, sometimes longer. I trade off daily, H4 and H1 charts and monitor 30M and 15M once in the trade. I just usually wait for actual reversal indication within a trend (and of course at area of resistance/support) before jumping, then move my TP as profit increases. providing I don't let emotion take over or allow others opinions to sway me and go moving my stop loss further back, I usually do well. But admittedly sometimes I still allow emotion and influence to take over. I sold EUR/USD at 1.0910 a few days ago as I saw signs of reversal as well, and was stopped out at 1.0935. Now I wait for sign of reversal again. That said I still have one position open, a sell at 1.0970 and I've set my stop loss much higher on that one (held over weekend). but if we see 1.1058, it's closed with a loss. We'll see what tomorrow brings.
  • #994,988
  • May 30, 2015 9:00pm May 30, 2015 9:00pm
Quoting fxtyrant
{quote} its almost impossible to be great an both Entry and Exit of a trade.
I find that trying to get a good entry is fool's game. It's impossible to pinpoint great entries all the time. That's why I don't day trade. I'd never day trade with real money. I build positions with small lots. But I still play with ideas and demo strategies here.

Last year, With one of my demo strategies I was trying out, I managed to get 60 consecutive winning trades. I was sure I found my holy grail. LOL. Followed by 60 losing trades. Day trading is gambling in my book.
  • #994,989
  • May 30, 2015 9:33pm May 30, 2015 9:33pm
Quoting cspip
{quote} I notice he never posts when Greece finds more money or gets extra time or things are looking up. Always about the downfall for Greece. You want to read one sided rumors about Greece ? OK And Johns Mart has been at it for nearly 2 days non-stop with 45 posts about Greece.......his choice I guess........

Is it "Johns mart"? I always thought it was "John Smart" lol
  • #994,990
  • May 30, 2015 9:43pm May 30, 2015 9:43pm
Quoting HelloOz
{quote} lol.. And you will be the biggest big boy, matket mover and manipulator..
These are projected numbers of user deylon
  • #994,991
  • May 30, 2015 10:11pm May 30, 2015 10:11pm
Quoting rjngh2005
{quote} These are projected numbers of user deylon
Way back when, like in about 1st or 2nd grade, my teacher asked us the classic question: "Would you like it if someone gave you a penny, and then tomorrow took that one penny and gave you two pennies instead. Then the next day they'll double it again, giving you four pennies, and they keep doing that, doubling it every day for a month. OR instead of that, the person says they'll give you $1,000 right now. Which one would you do?"

Most of the kids (I think me included if I remember right) chose the $1,000. Of course I quickly realized that that was the wrong move... but not until I started trading Forex did I realize the doubling game could ACTUALLY be pulled off! Yeah!!! So I'm well on my way... mo money, mo money! When I reach my first million (should be any day now) I'll throw a big old party for everyone here.
  • #994,992
  • Edited 11:48pm May 30, 2015 11:33pm | Edited 11:48pm
Quoting fxtyrant
{quote} Great traders are even better to not have to handle loss but to manage drawdown so that they can turn a losing situation into a winning one. like i have demonstrated time and time again. its almost impossible to be great an both Entry and Exit of a trade. but if you can master 1 either Entry or Exit. then you can still walk away profitable. Master: Entry benefits. Great with entering trades with minimal drawdowns, but could potentially miss out on pips as they fail to realise when to take profit or close a trade in profit. often closing...
I am only writing this out of curiosity, not preaching or criticizing in any way.
I used to think the same thing that in day trading or scalping I would miss out on pips hence, I used to hold my trades for days.
Truth is day traders with scalping make up the pips they lose by closing trades too soon, how you ask?..during pullbacks or as you say drawdowns.

Sure your strategy is working great for you but the way I see it you are missing out on all the pips during drawdowns, unless you add to your trades, which reminds me of something I read "Adding to a losing trade will lead to eventual and absolute ruin". Now it may not be true all the time, maybe 1 in 10, but what when that 10th time is here? Another quote from a fellow trader "I still think the entry is much more important than the exit because if your entry is bad no matter how good your exit is your probability of profit is low" .You have a big account so it is not a concern for you. But I am just talking from my perspective here as my account is very small.

If you are content with your strategy that is great and all the best to you. IMO no strategy is perfect and every strategy can be improved.
  • #994,993
  • May 30, 2015 11:33pm May 30, 2015 11:33pm
But in a real world someone who gave you money might rest in peace or disappear suddenly, so it is a good choice to secure $1,000 immediately. Uncertainty like default always happens in a real world.
  • #994,994
  • May 30, 2015 11:34pm May 30, 2015 11:34pm
Quoting TheScalper15
Number one killing mistake for traders is prediction. We all passed through this phase early when trading. We predict the market, take a position accordingly, marry our trade so that we do not admit that we are wrong. You see this is the problem of prediction,it put you in a position where you are either wrong or right and be defensive against the market. For all predictors, I do not care if you make money or lose, you will not be a longterm consistent trader unless you stop prediction and go with the market, be flexible.
Bro, I am curious about your statement. So if you don't predict, that means you know where price will go in an exact certainty? And if you do, pls give us some tips, thanks!
The only winner is the one who survive the longest...
  • #994,995
  • May 30, 2015 11:35pm May 30, 2015 11:35pm
Quoting Ratmach
{quote} Way back when, like in about 1st or 2nd grade, my teacher asked us the classic question: "Would you like it if someone gave you a penny, and then tomorrow took that one penny and gave you two pennies instead. Then the next day they'll double it again, giving you four pennies, and they keep doing that, doubling it every day for a month. OR instead of that, the person says they'll give you $1,000 right now. Which one would you do?" Most of the kids (I think me included if I remember right) chose the $1,000. Of course I quickly realized that...
I think I will take the 1000 bucks and do the doubling myself, and maybe tripling it. Never knows. At least I start off with 1000.
The only winner is the one who survive the longest...
  • #994,996
  • May 30, 2015 11:40pm May 30, 2015 11:40pm
gonna see how strong $EU is back to stay above the 1.05xx in the next following days. #Monthly : Bearish , with 50 fib of April Month acting as support, temporary or not ? who knows ...... .

Quoting iqyu5an
{quote} ....... trading is fun {image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDfDaily.png Size: 52 KB
not euphoria follower
  • #994,997
  • May 31, 2015 12:07am May 31, 2015 12:07am
Quoting TraderRaven7
{quote} Another quote from a fellow trader "I still think the entry is much more important than the exit because if your entry is bad no matter how good your exit is your probability of profit is low" .You have a big account so it is not a concern for you. .



The price will go where it has to go.
  • #994,998
  • May 31, 2015 12:49am May 31, 2015 12:49am
Quoting kinspk
{quote} I think I will take the 1000 bucks and do the doubling myself, and maybe tripling it. Never knows. At least I start off with 1000.
(By the way, I think everyone knows this, but just in case... taking that 1 cent, 2 cents, 4 cents, and doubling for a full month you wind up with... over $10 million!)
  • #994,999
  • May 31, 2015 2:11am May 31, 2015 2:11am
Quoting mitrapips
{quote}
Is that an agreement or disagreement with my statement..I cannot tell.
  • #995,000
  • May 31, 2015 2:22am May 31, 2015 2:22am
I think there is a psychology at work now and so there will be parity, at least in my opinion. It could drop considerably beyond that. Both currencies are heavily into quantitative easing so nothing surprises me. I think Obama wants to see the Dow Jones to hit 20k as a legacy even though it's all fake money. We'll see.
Taigen Profit This Month: na
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