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  • #995,081
  • May 31, 2015 12:04pm May 31, 2015 12:04pm
Quoting mitrapips
{quote} But all along she wore a medieval Shiva necklace on her. So you can take heart hearing that. Or not. It depends on what other accessories you add while visualizing the first sentence
Oh well, I feel better already, with some help from Mr Jim Beam
  • #995,082
  • May 31, 2015 12:09pm May 31, 2015 12:09pm
Quoting shiva
{quote} Oh well, I feel better already, with some help from Mr Jim Beam
Keep beaming as I keep walking
Attached Image
The price will go where it has to go.
  • #995,083
  • May 31, 2015 12:15pm May 31, 2015 12:15pm
Quoting troneras
{quote} Hi orabi, I am switching team also... I see oil chart pointing up, USD chart pointing down with real economy data doing bad. Good news in the top eurozone countries... grexit is unlike to happen as politics are saying that it is not even a possibility.... If price reach 1.0920 it will be fast. P.D: I dream with bottoms .
Hi dear sir
thank you so much for your words
yes we are at bottom now dream as yo wish
but there have to be a correction down to 1.0920 from there a major upper trend last target 1.3370
have a nice day please
focus while relaxed to see better
  • #995,084
  • May 31, 2015 12:29pm May 31, 2015 12:29pm
Quoting mitrapips
{quote} I see. I hope you won't mind me asking a few questions here. I see a distinct problem when you try to trade very low time frames by aligning with very high time frames. IF you trade M15 with Weekly in mind then at best you are losing half the good trades and at worst you are unnecessarily taking on a very large drawdown. There is very little correlation with M15 and W for any pair. For example what do you do when you sell on M15 seeing a downward Weekly trend. What happens if the pair tries to make a double top on M15 (but then breaks out),...
I don't scalp due to a busy schedule during the most liquid phases of the market (London and NY overlap). But the professional trader to whom I'm subscribed does. However, I can only see his trading activity on my MT4 but I can't see how his MT4 is setup. I know from his communication that he watches the long term trend even when scalping. There have been times when a stack of trades were opened and went into drawdown, but the market always and I mean always comes back to let him exit profitably. Sorry if I can't provide any more details.
The trader IS the holy grail.
  • #995,085
  • May 31, 2015 12:33pm May 31, 2015 12:33pm
Quoting mitrapips
{quote} Keep beaming as I keep walking {image}
Sure, if Johnny says so.
  • #995,086
  • May 31, 2015 12:41pm May 31, 2015 12:41pm
Quoting Tom_D_Trader
{quote} Mate, 5 bottles down so far.
sorry to hear that. try to avoid such situations. longterm advice
  • #995,087
  • Edited 1:06pm May 31, 2015 12:55pm | Edited 1:06pm
Quoting kuroro001
{quote} Its not about being overleverage or not, adding to losers without stop losses even with the lowest leverage/positions end with disaster What if you bought gbpjpy around 240, or Eurusd around 1,60 ? And added to loser because the trend was still up A good trader knows when he is wrong and knows when he should cut his bad trades But like i said i'm curious to see how you guys trading without stop losses and adding to losers can be profitable. I'm all ears
Every trade starts with a draw down because of the spread. Majority of the eventually profitable trades remain in some draw down initially. Some will never recover and the potential loss would have to be mitigated through averaging by scaling-in. I recently had two SELL trades left stranded at 1.0712 and 1.0750 while the market ticked upward to finally peak at 1.1466. I waited till it was confirmed that the down trend had resumed and placed three orders at 1.1300, 1.1200 and 1.1100 as the market came back down. I calculated that my two trades were worth 2 USD per pip allowing my 33,000 USD account to endure a drawdown of over 16,000 pips. As I just needed a few hundred pips to break even and salvage the losing trades by scaling-in and improve the average entry price, the probability of the latter were far more likely than the former. The drawdown finally peaked at 1470 pips that was still very much acceptable given that I had over 16,000 pips in the tank and I finally closed the entire basket at a slight profit instead of taking losses on the two stranded trades.

But eventually there will be some trades that will never recover and require manual closure and accepting the loss. That will happen at the fag end of a long-term trend as I have already explained in one of the posts.

Incidentally, I have heard this technique is also used by professionals trading stocks but the calculations are different due to reduced leverage more controlled short selling.
The trader IS the holy grail.
  • #995,088
  • May 31, 2015 1:14pm May 31, 2015 1:14pm
Quoting taru
{quote} Every trade starts with a draw down because of the spread. Majority of the eventually profitable trades remain in some draw down initially. Some will never recover and the potential loss would have to be mitigated through averaging by scaling-in. I recently had two SELL trades left stranded at 1.0712 and 1.0750 while the market ticked upward to finally peak at 1.1466. I waited till it was confirmed that the down trend had resumed and placed three orders at 1.1300, 1.1200 and 1.1100 as the market came back down. I calculated that my two trades...
If you can give a rough account size and rough percent profit the pro trader is getting with his method then this might have some value for us. One thing to remember is that there may be a thousand different ways to skin a cat but which one you choose will depend on what kind of knife you have. So the above method may be raking in 2% on a 50K account but that will not have any value for me because I have a much smaller account and a finite time to live. Just by not participating in a the move from 1.07 to 1.14 is something that many of us will not be able to afford. So basically, to each his own but I am here to learn and pick up new things. I always remain skeptical and am fairly good at seeing through bull. I know how "forex house of pain and pleasure" ends and all. But I also remain open to what strategies other people are using and do not cry foul until I see something concrete. So I am all ears.
The price will go where it has to go.
  • #995,089
  • May 31, 2015 1:23pm May 31, 2015 1:23pm
Quoting mitrapips
{quote} If you can give a rough account size and rough percent profit the pro trader is getting with his method then this might have some value for us. One thing to remember is that there may be a thousand different ways to skin a cat but which one you choose will depend on what kind of knife you have. So the above method may be raking in 2% on a 50K account but that will not have any value for me because I have a much smaller account and a finite time to live. Just by not participating in a the move from 1.07 to 1.14 is something that many of us...
Totally agree. If you don't find anything I wrote useful, just toss it out and move on. No offence taken. It is your life, your money and your decision eventually. I can't say anything about the professional trader I follow other than what I wrote due to fear of violating the FF terms of posting.
The trader IS the holy grail.
  • #995,090
  • May 31, 2015 1:40pm May 31, 2015 1:40pm
Quoting kuroro001
{quote} Its not about being overleverage or not, adding to losers without stop losses even with the lowest leverage/positions end with disaster What if you bought gbpjpy around 240, or Eurusd around 1,60 ? And added to loser because the trend was still up A good trader knows when he is wrong and knows when he should cut his bad trades But like i said i'm curious to see how you guys trading without stop losses and adding to losers can be profitable. I'm all ears
Continually adding to losers is what most martingale systems do while the drawdown increases. Taru's method seems to be a bit different in that he isn't continually adding as price moves against his first entries. When he sees the market is moving against his positions he just holds onto the losing positions & waits rather than continually adding more positions against the current movement. When the market finally turns back in his favor again THEN he starts adding more positions. I think this is a big difference in the long-term viability of the method. I'm not recommending it but I can see where it could be much less likely to blow an account & have smaller drawdowns compared to the traditional martingale system.
  • #995,091
  • May 31, 2015 1:44pm May 31, 2015 1:44pm
Quoting srt
{quote} Continually adding to losers is what most martingale systems do while the drawdown increases. Taru's method seems to be a bit different in that he isn't continually adding as price moves against his first entries. When he sees the market is moving against his positions he just holds onto the losing positions & waits rather than continually adding more positions against the current movement. When the market finally turns back in his favor again THEN he starts adding more positions. I think this is a big difference in the long-term viability...
The trader IS the holy grail.
  • #995,092
  • May 31, 2015 1:51pm May 31, 2015 1:51pm
EUR short increase to 172K from 168K the prior week
http://news.forexlive.com/!/cftc-com...-2015-20150529
The trader IS the holy grail.
  • #995,093
  • May 31, 2015 1:52pm May 31, 2015 1:52pm
Quoting srt
{quote} Continually adding to losers is what most martingale systems do while the drawdown increases. Taru's method seems to be a bit different in that he isn't continually adding as price moves against his first entries. When he sees the market is moving against his positions he just holds onto the losing positions & waits rather than continually adding more positions against the current movement. When the market finally turns back in his favor again THEN he starts adding more positions. I think this is a big difference in the long-term viability...
I wouldn't drive a car without brakes, but its me.

Good luck
COT: The precious data ignored
  • #995,094
  • May 31, 2015 1:57pm May 31, 2015 1:57pm
Quoting kuroro001
{quote} I wouldn't drive a car without brakes, but its me. Good luck
I keep intending to do this but I am just lazy. Open a demo account of 100K. Take trades in random directions and wait for some time. See if the account ends up in net profit. As the market ranges most of the time I believe I will end up net positive. But what does that say about my trading? Give me enough dough and with half a brain (that you use to figure out basic mm and s/r), I will show you 1% profit. In the end, trading is very simple. What makes it difficult is to get it to work with low capital.
The price will go where it has to go.
  • #995,095
  • May 31, 2015 1:58pm May 31, 2015 1:58pm
Quoting taru
EUR short increase to 172K from 168K the prior week http://news.forexlive.com/!/cftc-com...-2015-20150529
More liquidity for the big bull players then...

Nah, just trollin. I have no effin idea where's euro to go next. I'm totally avoiding E pairs till this greek crap blows over. My money is on yen going down baby and got it hedged against usd and gbp just in case. E is just too much heat for me at the moment, dollar is all weird looking and frankly I don't have the account cushion like fxtyrant to weather the "inevitable" drawdowns.

GL all.
"Tips are for waiters." - Reminiscences of a stock operator
  • #995,096
  • May 31, 2015 1:59pm May 31, 2015 1:59pm
Quoting kuroro001
{quote} I wouldn't drive a car without brakes, but its me. Good luck
Neither would I but trading is different. Reading "Trading in the Zone" by Mark Douglas showed me how different.
The trader IS the holy grail.
  • #995,097
  • May 31, 2015 2:06pm May 31, 2015 2:06pm
Quoting kuroro001
{quote} I wouldn't drive a car without brakes, but its me. Good luck
Would be just a long, scenic ride that might have a profit @ the end but no chance of getting killed in an accident as the speed is too slow.
Length of the journey depends upon how much gas is in the tank or how long before you get tired of searching for the pot of gold @ the end.
  • #995,098
  • May 31, 2015 2:10pm May 31, 2015 2:10pm
Late on Friday I noted that every attempt to break out above 1.1100 was promptly shot down. I think the big boys wanted to keep the stops above 1.1100 to run them after the weekend. We'll find out soon.
The trader IS the holy grail.
  • #995,099
  • May 31, 2015 2:11pm May 31, 2015 2:11pm
Quoting taru
{quote} Neither would I but trading is different. Reading "Trading in the Zone" by Mark Douglas showed me how different.

Really? I found it too much analysis of the obvious and painfully thin on the practical, a common theme with most modern psychology. It keeps telling you what you "should" do but never reveals how to actually go about it. In that sense it is almost hypocritical, warning against "shouldisms" with shouldisms of its own.

I find that the buddhist mindset is the most conductive to trading, particularly the concept of detachment. If you're averse to that for whatever reason, CBT + mindfulness training is the next best ("scientific" lol) thing.
"Tips are for waiters." - Reminiscences of a stock operator
  • #995,100
  • May 31, 2015 2:12pm May 31, 2015 2:12pm
Quoting taru
Late on Friday I noted that every attempt to break out above 1.1100 was promptly shot down. I think the big boys wanted to keep the stops above 1.1100 to run them after the weekend. We'll find out soon.
Big boys...who are they ? LOL ROTFL
Ha Ha Ha
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