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  • #1,109,941
  • May 12, 2017 3:49pm May 12, 2017 3:49pm
Quoting swing 123
{quote} How is it going nowadays?

This week was tough man, tried to long the fecker 5 times, all failed and I gave up chasing it yesterday and here we are today. Clearly I am not in synch, need to sit on my hands and try to understand what pa is trying to do.
Year has been overall good tough.
Where have you been? Dont see you posting as often as you used to do.
  • #1,109,942
  • May 12, 2017 3:49pm May 12, 2017 3:49pm
What has happenned september 2011 ???
I do not remember ......
  • #1,109,943
  • May 12, 2017 3:49pm May 12, 2017 3:49pm
Quoting suthmo
Have a good weekend, Cheers {image}
mmmm sweet pale freckled titties...

the best kind...

j/k
  • #1,109,944
  • May 12, 2017 3:52pm May 12, 2017 3:52pm
Quoting sakisf
{quote} That was the month I got married. Used no sl too, life blown.
Was about to jump in front of the tube at Victoria Station, very bad days, still feeling the pain. Losing money aside, losing self confidence and the trust of your loved ones. Was really bad, took me a very long time to recover the confidence. Anyway, I get a stomachache every time I talk about it.
  • #1,109,945
  • May 12, 2017 3:53pm May 12, 2017 3:53pm
Quoting Connors
{quote} This week was tough man, tried to long the fecker 5 times, all failed and I gave up chasing it yesterday and here we are today. Clearly I am not in synch, need to sit on my hands and try to understand what pa is trying to do. Year has been overall good tough. Where have you been? Dont see you posting as often as you used to do.
I have seen your strategy, pls don't take it wrong way. Your strategy needs to take U turn coz mostly you are trading against the trend. Its my observation which I wanted to tell you but didnt say as dont want anyone to get offended. Thats my humhle opinion. Think about it.
  • #1,109,946
  • May 12, 2017 3:56pm May 12, 2017 3:56pm
Quoting Connors
{quote} Was about to jump in front of the tube at Victoria Station, very bad days, still feeling the pain. Losing money aside, losing self confidence and the trust of your loved ones. Was really bad, took me a very long time to recover the confidence. Anyway, I get a stomachache every time I talk about it.
Damn...Trading is crazy it can either make you crazy rich or broke within minutes
  • #1,109,947
  • May 12, 2017 3:58pm May 12, 2017 3:58pm
i'm done. see you guys next week for more heartaches....
  • #1,109,948
  • May 12, 2017 3:59pm May 12, 2017 3:59pm
Quoting yanitsa
{quote} Well , sorry to hear , horible way to lose money . But You ave learnt the important lesson not to open /hold a trade ahead of important events ! https://www.forexfactory.com/calenda...month=jan.2015

Was an unexpected move, I mean market was waiting for SnB to intervene to prevent the appreciation of CHF vs EUR and USD but an intervention was supposed to hit it the other way round, not 20% more appreciation in minutes. Was a real schocker.

Credit rating of USA was downgraded that year and large funds started selling USD, Greece - Italy-Spain-Ireland problems raised serious questions about the future of EUR and again large funds were selling EUR.

Everyone was buying CHF in case EUR zone collapses and every country turns back to their initial currency. The idea was to buy CHF since it is more convertible to DEM. Anyway, an intervention of SnB was expected but as soon as they announced the cap on EUR/CHF @1.20, guess what happened. EUR/CHF from 1.004 to 1.20 in seconds. No stops worked in any EUR or CHF related pairs.
  • #1,109,949
  • May 12, 2017 4:05pm May 12, 2017 4:05pm
Quoting swing 123
{quote} I have seen your strategy, pls don't take it wrong way. Your strategy needs to take U turn coz mostly you are trading against the trend. Its my observation which I wanted to tell you but didnt say as dont want anyone to get offended. Thats my humhle opinion. Think about it.

No - no, I am open to any positive critism. Never claimed, I am generating profits with every trade I take.
I would be really happy you to let me know what it is you think I am doing wrong.

My general strategy is actually quite simple, wait for the move - rejection-re-test and fail. And if I have a level previously defined as resistance or support take the trade with 20-25 pips stop and hold.

I appreciate your views and trades mate, would be more than pleased to hear your toughts.

Actually, this is the type of discussions I want to get engaged in. Many thanks in advance mate.
  • #1,109,950
  • May 12, 2017 4:06pm May 12, 2017 4:06pm
Quoting Connors
{quote} Was an unexpected move, I mean market was waiting for SnB to intervene to prevent the appreciation of CHF vs EUR and USD but an intervention was supposed to hit it the other way round, not 20% more appreciation in minutes. Was a real schocker. Credit rating of USA was downgraded that year and large funds started selling USD, Greece - Italy-Spain-Ireland problems raised serious questions about the future of EUR and again large funds were selling EUR. Everyone was buying CHF in case EUR zone collapses and every country turns back to their...
Does it look like the same time to you right now? That's why 4 out of 7 of my pairs contain CHF.
  • #1,109,951
  • May 12, 2017 4:06pm May 12, 2017 4:06pm
Quoting Connors
{quote} Was about to jump in front of the tube at Victoria Station, very bad days, still feeling the pain. Losing money aside, losing self confidence and the trust of your loved ones. Was really bad, took me a very long time to recover the confidence. Anyway, I get a stomachache every time I talk about it.
rule #1
Attached Image
When life gives you lemons, make lemonade
  • #1,109,952
  • May 12, 2017 4:08pm May 12, 2017 4:08pm
Quoting Connors
{quote} Was an unexpected move, I mean market was waiting for SnB to intervene to prevent the appreciation of CHF vs EUR and USD but an intervention was supposed to hit it the other way round, not 20% more appreciation in minutes. Was a real schocker. Credit rating of USA was downgraded that year and large funds started selling USD, Greece - Italy-Spain-Ireland problems raised serious questions about the future of EUR and again large funds were selling EUR. Everyone was buying CHF in case EUR zone collapses and every country turns back to their...
I really do not remember anything related to that day ......
Thanks !
  • #1,109,953
  • May 12, 2017 4:14pm May 12, 2017 4:14pm
Quoting Connors
{quote} No - no, I am open to any positive critism. Never claimed, I am generating profits with every trade I take. I would be really happy you to let me know what it is you think I am doing wrong. My general strategy is actually quite simple, wait for the move - rejection-re-test and fail. And if I have a level previously defined as resistance or support take the trade with 20-25 pips stop and hold. I appreciate your views and trades mate, would be more than pleased to hear your toughts. Actually, this is the type of discussions I want to get engaged...
I like your strategy...blow up the wedding account and maybe get to be single and happy for the rest of your life...unfortunately for you you pulled the "do not past GO, do not collect $200 card"

Chin up leprecunt...I did a number on my account this week as well, loading longs and trying to catch a bottom...It's the cost of doing business.
Why sell the bottoms when you can buy the tops...
  • #1,109,954
  • May 12, 2017 4:18pm May 12, 2017 4:18pm
Here is my story in headlines, just posting it for new traders to read and maybe understand that this job isnt really as easy as it sounds:

I already told you the case that hit me in Sep 2011.
There is actually more pain. After I graduated and hold a math engineering degree and completing Ms.Sc in Empirical Macro Economics from Oxford - yes Oxford - I managed to get a job in London Wall - London City where all investment banks are -as a credit derivatives trader after years of failure. I actually started working for JPM in 2006 as a middle office risk manager but hated the job. Finally when I finally moved to the place I always wanted to be - credit derivatives trading desk - in 2008... Do I need to state the obvious? It wasnt even 4 months since I started working as a trader and all world fell apart. London Wall turned into a butcher shop, there were absolutely no jobs, forget as a trader not even as a back office associate. I decided to take a break,actually had to and travelled around Europe,USA and South America for a year hoping things to get back to normal. Spent all my savings out of desperation, spent all my money for fun and pleasure. When the trip was over, guess what still no jobs!

I started working for my dad who runs a few restaurants and pubs in the city and all of a sudden found myself a local resturants owner's son instead of a trader

Anyway, I tought I should stop fecking around and started trading forex for the first time in my life since it didnt require as much capital as the other investment products. Withdrew all the cash my credit cards allowed - yes I know how stupid that sounds - took any credit banks gave me and began trading. Initially everything went extraordinarily well. Turned that little amount to almost 100K in a few months! I tought I was the FX genius world has been waiting for

Then on a late friday afternoon, in a few hours lost it all, Lost it! I can never forget that weekend. Was staring at the screen, checking the statement from the broker and trying to understand what this was all about.

OK what now? Took loans from family. started all over. This time I was more careful - I tought. You know what then happened, it was back in September 2011 around 8:00 am my time. SNB decided to put a cap on EUR/CHF @1.20... I lost that moment over 65 K! In a few minutes..

I then gave up trading forex for over three years and helped my dad at the restaurant, I was so hurt gents, so hurt.
In 2014, decided one more time and this time took loans from family and friends even from my girlfriend who at that time was working as a nurse and getting paid less than 40K pounds a year, I made her even take a loan for me from the bank!

In Jan 2015 SnB decided to remove the 1.20 cap on EUR/CHF, that day fortunately I was in a hospital and didnt have any position. I am sure I would feck up again had I traded that day.

But you see with all the loans from the people who are closest to you, put me under so much pressure. My trading got affected in a very bad way. There were dozens of ups and downs throughout the year 2015 and 2016. And for a moment I tought I should end it, jump in front of a train. My girlfriend who gave me my newborn and soon to be wife helped me all that time and I wouldnt live right now if she werent with me all the nine yards. I am now a father.

You see, there are actually more stories. You see why I get pissed off at the clowns/wannabees here who pretend to not make a single mistake and are winners no matter where this goes.

I finally paid all my loans, every single penny. I managed to bring my account to a decent size and on top put some rainy day fund aside. If shit hits the fan, I need some capital to start all over. And I am begging you to do the same. Put aside some rainy day fund! Nobody can know what these assholes are up to. The SnB thing was a hammer, I have literally seen it.

Anyway, wish everyone a good weekend.
  • #1,109,955
  • May 12, 2017 4:25pm May 12, 2017 4:25pm
Quoting Connors
{quote}Many thanks in advance mate.
You are welcomed mate. My advice is to start working on corrective waves. ABC shit, start labeling and you will soon realize that these patterns are easy to spot once you understand them. That will make your direction correct and along the trend.



Tc and GL.
  • #1,109,956
  • May 12, 2017 4:29pm May 12, 2017 4:29pm
Quoting Babypips101
{quote} How long have you been trading? Like i said i started live trading 3-4 weeks ago so i have alot to learn.
Since 2008
  • #1,109,957
  • May 12, 2017 4:33pm May 12, 2017 4:33pm
Quoting Connors
Here is my story in headlines, just posting it for new traders to read and maybe understand that this job isnt really as easy as it sounds: I already told you the case that hit me in Sep 2011. There is actually more pain. After I graduated and hold a math engineering degree and completing Ms.Sc in Empirical Macro Economics from Oxford - yes Oxford - I managed to get a job in London Wall - London City where all investment banks are -as a credit derivatives trader after years of failure. I actually started working for JPM in 2006 as a middle office...
you are too fucking real for this forum. i don't think anybody really talk about the price you pay to be in this game. i think i speak for most people here when i say, i appreciate the honesty.

maybe one day i'll share my story too..it's gonna make you go..'da fuck!?!?!?? are you for real?" i'm jus a bit insecure to do that right now.
take care my man
  • #1,109,958
  • May 12, 2017 4:34pm May 12, 2017 4:34pm
Quoting hilmy83
{quote} you are too fucking real for this forum. i don't think anybody really talk about the price you pay to be in this game. i think i speak for most people here when i say, i appreciate the honesty. maybe one day i'll share my story too..it's gonna make you go..'da fuck!?!?!?? are you for real?" i'm jus a bit insecure to do that right now. take care my man

I have no doubt that you paid your dues man, would be great to hear your story some day.
  • #1,109,959
  • May 12, 2017 4:41pm May 12, 2017 4:41pm
Quoting Connors
Here is my story in headlines, just posting it for new traders to read and maybe understand that this job isnt really as easy as it sounds: I already told you the case that hit me in Sep 2011. There is actually more pain. After I graduated and hold a math engineering degree and completing Ms.Sc in Empirical Macro Economics from Oxford - yes Oxford - I managed to get a job in London Wall - London City where all investment banks are -as a credit derivatives trader after years of failure. I actually started working for JPM in 2006 as a middle office...

Thank you so much for sharing this! It means alot..I am currently a student at Harvard University gonna be a senior this fall(2017) and have been trying to learn how to trade for at least 7 years. I usually don't fail at anything I put my mind to but trading Forex is a whole different ball park. I had a major lose during the first french presidential election when USD/EUR gap up. I lost confidence, ability to sleep, and was afraid to trade for a couple days (lost a few thousand dollars). I think its a very good idea to set up a rainy day fund.
  • #1,109,960
  • May 12, 2017 5:16pm May 12, 2017 5:16pm
+Connors, all the stories of thebgreat traders have a moment when almost all the capital was lost.
thishappens mostly for two reasons:
they were undercapitalised;
or yher traded too high for the capital they had.
For me the key of success is capitalization..
il your trade il non more of the 10% of your capital, you nrver go in ruin.You can loose ten, but you have still ninty to recover..
For me this is the holy grail.
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