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  • #996,681
  • Jun 3, 2015 3:36am Jun 3, 2015 3:36am
Quoting kuroro001
{quote} Yes we are just traders, risking money on a side. We can't be right all the time, but we can manage our risk. I know my way of trading can't allow 300 pips in the red though
Agree but 100 pips can happen. Did you see your NOK didnt work It was shown clearly yday
  • #996,682
  • Jun 3, 2015 3:38am Jun 3, 2015 3:38am
Quoting fxrustyspoon
{quote} wtf kind of method does a trader use if he is -100's of pips. As for mm. How could you use mm and -100 dd and try to make sense. Gtf out of here.
Its pointless explaining to someone who obviously has no idea how pips and DD are connected amongst other things. Have a nice day.
The trader IS the holy grail.
  • #996,683
  • Jun 3, 2015 3:41am Jun 3, 2015 3:41am
Quoting dan2boy
"i'll be back".. i caught the trade with sell stop... 45 pips in just 17seconds {image}

Had my Orders (2) Placed 30 min before News
A good trader follows his rules, but great trader knows when to break them
  • #996,684
  • Jun 3, 2015 3:41am Jun 3, 2015 3:41am
Quoting giveachance
{quote} wait before ADP. nothing to get excited. may be a consolidation is happening.
I know I bet better data
and yesterday it was a short squeeze
  • #996,685
  • Jun 3, 2015 3:42am Jun 3, 2015 3:42am
Quoting MarianneOslo
{quote} Agree but 100 pips can happen. Did you see your NOK didnt work It was shown clearly yday
What do you mean Marianne? Which setup gave you insight, just wondering i did see it on EU but NOKs gave not much foresight.
  • #996,686
  • Jun 3, 2015 3:42am Jun 3, 2015 3:42am
Quoting MarianneOslo
{quote} Agree but 100 pips can happen. Did you see your NOK didnt work It was shown clearly yday
Actually it did, it moved the same way as the euro, less strong but same way for sure

I'm talking about m5/m15/m30 moslty Marianne.
COT: The precious data ignored
  • #996,687
  • Jun 3, 2015 3:43am Jun 3, 2015 3:43am
:nerd:
Quoting kuroro001
{quote} Actually it did, it moved the same way as the euro, less strong but same way for sure
  • #996,688
  • Jun 3, 2015 3:44am Jun 3, 2015 3:44am
Quoting 2012mysterio
{quote} Well spoken. i was going to chime in with the same. But, not everyone see their trading that way. Apples and oranges.
I might sound like a broken record here. But the problem was not the drawdown itself. The problem was the dangerous possibility (for newbies) of assuming that fxtyrant was handling such drawdowns with ease as he made out to be. Such drawdowns can surely be mark of great traders but to put up 'hey its cool, come do what I do" attitude without showing any indication that he himself has endured the emotional downs associated with such huge drawdowns (due to fake money) is not cool. It sends out a very very dangerous message. So whoever got rid of this guy my . He has done a great public service.
The price will go where it has to go.
  • #996,689
  • Jun 3, 2015 3:44am Jun 3, 2015 3:44am
Quoting taru
{quote} Its pointless explaining to someone who obviously has no idea how pips and DD are connected amongst other things. Have a nice day.
exactly.
  • #996,690
  • Jun 3, 2015 3:45am Jun 3, 2015 3:45am
Quoting ill_be_back
{quote} Had my Orders (2) Placed 30 min before News
cool stuff with GJ
  • #996,691
  • Jun 3, 2015 3:45am Jun 3, 2015 3:45am
Quoting MarianneOslo
:nerd:{quote}
Or lets say i'm looking at it in a different way...setups are different from one trader to another
COT: The precious data ignored
  • #996,692
  • Jun 3, 2015 3:46am Jun 3, 2015 3:46am
Quoting ill_be_back
{quote} Had my Orders (2) Placed 30 min before News
I was afraid of the news.. i cut my long trade @ 9.28 London time and get prepared for news.. never again i would play on news... would be aiming for a xau/usd trade later right before news.. i am expecting to long XAU/USD ... its quite promising at this kind of moments... Uncertainty towards pound/EUR at the moment... And even for the US if they fail to give confidence at this week's report... Gold is gonna climb..
  • #996,693
  • Jun 3, 2015 3:48am Jun 3, 2015 3:48am
  • #996,694
  • Jun 3, 2015 3:48am Jun 3, 2015 3:48am
Quoting dan2boy
"i'll be back".. i caught the trade with sell stop... 45 pips in just 17seconds {image}
Hide your account number at least...
COT: The precious data ignored
  • #996,695
  • Jun 3, 2015 3:49am Jun 3, 2015 3:49am
Euro keep selling babe
  • #996,696
  • Jun 3, 2015 3:50am Jun 3, 2015 3:50am
If one is aware of MONEY MANAGEMENT (MM) and RISK/REWARD (R/R) then the size of drawdown is not important.

The Good Example:
If one trader has a target of 300 pips he can have 300 pips drawdown because he has 1:1 R/R and there is nothing wrong with that. He will consider an appropriate lot size to trade this and he will know what he is risking (which will be generally between 1% and 5% of his total equity)

Another Still Good Example:
1:2 R/R is still okay. So one would target 150 pips but risk a drawdown of 300 pips. Personally I don't like R/R less than 1:1 but there are traders who still can gain money from it and it is managable.

Bad Example:
One trader who targets 100 pips but risks 300 pips has a R/R of 1:3 and to me he is not wise anymore. He can maybe survive some trades but in the long run if he keeps trading this way sooner or later he will shrink his account seriously.

Last Example: All those traders who don't even have R/R in mind and have no idea about money management unfortunately belong to the 99% of losers.

My half cents...

Happy Trades
Focus only on what truly matters!
  • #996,697
  • Jun 3, 2015 3:50am Jun 3, 2015 3:50am
Quoting 21vs7
{quote} cool stuff with GJ
A good trader follows his rules, but great trader knows when to break them
  • #996,698
  • Jun 3, 2015 3:52am Jun 3, 2015 3:52am
EUR may beat data ... anyway bias to long... buy stop @ 1.11300 @ 9.58am London time.... no sell stop
  • #996,699
  • Jun 3, 2015 3:52am Jun 3, 2015 3:52am
Quoting janpec1000
{quote} What do you mean Marianne? Which setup gave you insight, just wondering i did see it on EU but NOKs gave not much foresight.
My point is that there is hardly any correlation between the two. It correlates when the oil price declines as the USD rises. It is dangerous to look for the correlation
  • #996,700
  • Jun 3, 2015 3:53am Jun 3, 2015 3:53am
Even if the EURUSD reversed from 1.1190, the 100-day SMA, near 1.1075, followed by the 1.1065 - 50 horizontal support region, could provide strong support to restrict the pair's immediate decline ahead of ECB. However, a break of 1.1050 recalls 1.0900 zone.
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