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Attachments: Geppy vs. GJscalper - a duel to the death!
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Geppy vs. GJscalper - a duel to the death!

Speechless!
Quoting PayTheLimit
kid still has some chips and a chair, he could rally....
Absolutely. Should be interesting to see.
check out my blog: forexmademillionaire dot com
Quoting Geppy
{quote} I'm not wanting to beat a dead horse here. And I'm going to try and say this all as nicely as possible. Since GJscalper showed up here, he's been a troll. Recently he's turned a new leaf, and that's been nice. But him and I got into it because he has a tendency to attack people that don't agree with him or call him out. I've seen him do this on at least two other TE's and swiftly delete them afterward. He then proceeds to act like he knows what he's doing, act like he's a profitable and successful trader, and others follow him thinking the...
Sorry, I must have missed the part where you actually made some money.
Quoting glitch86
{quote} Sorry, I must have missed the part where you actually made some money.
Stick around.
check out my blog: forexmademillionaire dot com
That was painful to watch. Martingale is great when it works but devastating when it doesn't.

He still has 200+ he just needs to stop, figure out where he went wrong, correct it and move forward. Hopefully he can do that.
It's sad to see a good trader lose that percent from a single trade and that's why i am sticking to binaries, you can lose only what you risk per trade, but i am sure there is a good explanation for this kind of deviation from his money management, no internet, the virus, anyway he still has an account and i hope he doesn't give up this competition.
Quoting magnumfreak
That was painful to watch. Martingale is great when it works but devastating when it doesn't. He still has 200+ he just needs to stop, figure out where he went wrong, correct it and move forward. Hopefully he can do that.
Martingale works until it doesn't. The catch is, eventually it doesn't.

When you start risking 10x, 20x, 40x, etc. to make back your original 1x bet, eventually it will bankrupt you. That is, of course, unless you have unlimited funds.

But I suppose if you had that you wouldn't much use for a Martingale system.
check out my blog: forexmademillionaire dot com
Quoting magnumfreak
That was painful to watch. Martingale is great when it works but devastating when it doesn't. He still has 200+ he just needs to stop, figure out where he went wrong, correct it and move forward. Hopefully he can do that.
Martingale is not a system nor any form of money management , its more likely a part of gamblers fallacy.. dreams and hopes.. sure way to blow any account
OK, all. I'm off to bed. Hopefully GJscalper is taking the rest of the week off and getting drunk somewhere.

He should use the weekend to recalibrate, get his head straight, and see if he can start grinding it back.
check out my blog: forexmademillionaire dot com
Quoting PayTheLimit
{quote} I agree with you on most points. But in my view higher time frames offer some important information sometimes lost on the LTFs. Also it should be said that since Time = Risk, Time also equals reward. But its all pie in the sky.
I do check the HTF Charts to get an idea of what to expect.

I have my M1 Chart setup so I can see the HTFs within it.

Time does equal reward but the less time involved the better.

The most important aspect is our perception of how the Markets work but that perception only counts when we can Trade it profitably.

Other Traders can be an inspiration but we must take that inspiration and make it work for us.
This thread is such an Eye-opener!!!! Not meaning that because of the GJ-scalper loss... but in general... My hat is off to both of you for putting this out there publicly!! That is NOT an easy thing to do.

Ive done EXACTLY what it looks like GJ-scalper did with that bad trade - not saying I know what happened but just what it looks like to me -

Had a fantastic run, nearly doubling my account in a short period of time - become so confident about entering the market and becoming so used to coming out on top, that I increase my position size WAY more than I should(from 0.2 to 1 lot) on the next entry and then when the market shows me that I was wrong... I realize I've just broken my rules by risking too much and cant take the size and remove my stop loss hoping that the market will go back to my entry so I can exit at BE and forget this ever happened... but the market doesn't give me that chance.... it wants me to accept that I was wrong... and forces me to accept it... which is very hard to handle...

That what it "looks" like... but correct me if I am wrong GJ-scalper....

Now the beautiful thing is - YOU can make an epic come back!!!! DONT revenge trade! Look at how well you did over the last week... how disciplined you traded... You doubled your account! if you just stick to that again, you will be back at 500 in no time and then back at 1000 in another week or so...

You can totally do it if you just stick to your method and DONT break the rules EVER again.... it wont be long before you are at 2K...

I really want to see you do this man!

¬fighter¬
Good Lord, what did I miss :O
Quoting fighterdude
This thread is such an Eye-opener!!!! Not meaning that because of the GJ-scalper loss... but in general... My hat is off to both of you for putting this out there publicly!! That is NOT an easy thing to do. Ive done EXACTLY what it looks like GJ-scalper did with that bad trade - not saying I know what happened but just what it looks like to me - Had a fantastic run, nearly doubling my account in a short period of time - become so confident about entering the market and becoming so used to coming out on top, that I increase my position size WAY more...
So true. We get too much ego involved and forget our strategy thinking because we have had a good run the market won't turn against us.
Quoting PrymeTyme
{quote} Martingale is not a system nor any form of money management , its more likely a part of gamblers fallacy.. dreams and hopes.. sure way to blow any account
EXACTLY! I feel some what vindicated now, 1% risk per pip is gambling, scalping GJ like his style was is gambling, trading in July is a horrible month and my stats back that up, calling people out like some sort of demigod at every opportunity was poor. When things are going well it is easy to ride the wave and keep smashing in the good trades, as soon as it turns, like it has, it blows accounts through emotion and revenge.
Quoting Geppy
{quote} Martingale works until it doesn't. The catch is, eventually it doesn't. When you start risking 10x, 20x, 40x, etc. to make back your original 1x bet, eventually it will bankrupt you. That is, of course, unless you have unlimited funds. But I suppose if you had that you wouldn't much use for a Martingale system.
No doubt. I look back at how I traded back in the 2007-2009 time frame and realize how lucky I got. I wouldn't dare try some of the stunts I pulled back then. 400:1 leverage with hedging and no concept of money management. Good thing it went in my favor.

"Success is just a matter of getting up one more time than you fall"
Quoting TwFXtrader
{quote} As a trader you should always have more than one computer by your side

HE IS USING MARTINGALE AND WANT TO WIN A ONE YEAR CHALLENGE
atheer1
I liked it better when Geppy and GJS hated each other. We want blood!
Quoting PeteHFX
I liked it better when Geppy and GJS hated each other. We want blood!
haha
well at least its not the high of the day anymore, that's something I guess...
Look Sharp/Trade Tight
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