Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
As I understand it you trade from a fundamental framework. I would stick to the daily chart and the 4hr time frame to trade well. We can easily trade to 1.33 - get NFP bad numbers of Friday and then drop to 1.30. With the Daily and 4hr time frame you would take trades just a few times a month. This is necessary to allow you FA idea to develop.
i expect the prices to be range bound for now may be hour or two then if prices fell and touched my number 1.3187-90 with bullish div on 5 min or 15 min time frame i will buy small long there and if prices really doesnt fall then i will be looking to see how prices react at 1.3230-35 and 1.3260-65 zone plus/minus couple of pips as i cant trade pip/pip with you ppl thank you and good luck to all of us!
300? In 08 there were 1k pip moves! Ill never forget selling GU at the top and getting out in 50 pips happy, then watch it fall another 1000 in...haha...thats trading for ya!
I remember those times -> going short AUD/JPY overnight on a breakout and getting up in the morning being 150 pips richer
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
Your posts have been most entertaining and enriching in content, Mr Robert, you make an excellent economist and your friends are right to think you are brilliant!
Please keep up your excellent posts, will be a great loss to see you gone! Reduce your leverage and try again. Everybody grows with a starting loss. All the best!
A beautiful mind is much more important than a fat pocket.
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
It is a matter of survival and I am 100% sure at the end you will survive and you will remember this bad day as a past day. Everybody loses. Anyone who will tell the opposite is a big big liar. I have a line in my life... there are 2 ways... the easy and the difficult way. Don't choose the easy way (quit FX) but the difficult way (stay FX)... At the end you will be the winner
Your posts have been most entertaining and enriching in content, Mr Robert, you make an excellent economist and your friends are right to think you are brilliant!
Please keep up your excellent posts, will be a great loss to see you gone! Reduce your leverage and try again. Everybody grows with a starting loss. All the best!
Yes I agreed. You lose some you win some. Not every single trading you can predict correctly. Is depend how you manage your cash flow. Sometime you need to average down or up to get a better pricing. GL in your trading.
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
Hi Robert - u have been so knowledgeable in your contribution to other members in this forum and I have learnt so much from you. Pls stay put. If u are holding shorts, the chances of gaining is great.
Hi Robert - u have been so knowledgeable in your contribution to other members in this forum and I have learnt so much from you. Pls stay put. If u are holding shorts, the chances of gaining is great.
hi Robert, this is my first visit to this forum and just read your comment.
the way i see it trading basically a numbers game, using a proven strategy to produces many losing and winning trades, making a profit through sound money and risk management. i'm not letting something that simple beat me.
i suggest you put your loss down as the cost of experience and get back onto a demo account until that is consistently profitable over a good number of trades. losing a trade is called trading.
good luck
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
Mr Robert, i have small mouth and i talk big and sorry for that,
you have 10$ left in your account no problem sir, market took your money and you have to take it back sooner rather then later, for this you must be i repeat must be "emotionally balanced"
and for emotionally balancing yourself you must take 2 days break from live trading, and for those two days just demo trade and when you come back on the live trading you must follow a game plan "proper" entry exits and stops and money management.
i once said on this forum i give only "20" points to technical trading out of 100 no one asked what are other 80 points for, okay today i will tell all of you what trading is to me, as i earlier said i have small mouth and big talk so dont mind my talking.
i give 20 points to technical trading (every body knows s/r trendlines/breakouts/indicators/trends/counter trends/ and all the technical stuff you name it, technical trading no big deal but traders give alot of importance to technical trading)
i give 30 points to mechanical trading (this is more important then technical trading, its all about how that works mean how this pair moves(number of pips) and if this pair moves 40 pips then how it reacts after moving 40 pips either it stops or move another 40 pips or 120 pips its all mechanical and when and how prices react at key levels, and its all mechanical how european/asian/us traders do when they come alive learn mechanical trading, i have a friend/student who said to me i have losing alot i tried every thing every i did every "technical trading" but failed he asked what to do, i said what is risk reward while trading he said 1:2 he trade 40 pips profit for 20 pip loss, i said reverse this strategy why because i immedialtely understood he doesnt know the mechanics of this pair(eur/usd) i said from no on you will put ur stops 40 pips under ur entry and take profit after 20 pips to his surprise after one month he came back and said i took 78% profit on my all trades, cut short is learn mechanics of this pair
and i give full 50 points to mental trading you must be emotionally balanced to do the technical/mechanical trading, means most of traders are right about their decisions but they are not mentally strong to do the trade or follow the game plan this is most important, or when you book a loss what to do then learn your own psychie, alot of traders starts doing revenge trading when they took losses dont do that or either taking a smaller loss they just add up their position, this game is all about mental trading practice this and you will be successful sooner very sooner!
i will end my talk with this quote
"Trading is not a sprint; it’s boxing. The market will beat you up,
screw with your head, and do anything it can to defeat you.
But when the bell sounds at the end of the twelfth round,
you must be standing in the ring in order to win."
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
well, Robert, if you are willing to quit after the first margin call then probably FX is not for you. Most of us got heavy beating at the beggining - especially after the initial success (begginer`s luck??).
It is a long road - it really takes 2-3-5 years to be good and trade without a damage to your account as well as your emotional life.
Mr Market can behave irrational long enough to make you broke.
LISTEN TO THE MARKET - MARKET DOESN`T LISTEN TO YOU.
You MUST learn market habbits (like playing the wedge) - forget about fundies for a while and master your techie skills - you can easily achieve it here just by carefully studying charts being posted.
One more thing - being a fundie trader in times of central planing is a good strategy as long as you have an early access to the info about the essential decisions being made.
Within the video, he talked about using the Pivot indicator and that there was no point in going long (on an uptrend pair) when the currency pair was between R1 and R2 because 83% of the time, it won't go beyond R2.
Looking at the EUR/USD pair, R2 is at 1.33 and looking at the 4 hour chart, you can also see a descending trendline from the peaks at February 29th and April 1st. When this line is extended, the 1.33 appears to be at this descending line.
So, what I did last night is I placed a sell order at 1.3300 but I also executed a sell order at 1.3275 I figured 1.3275 was close enough to 1.3300
London session review and outlook May 1 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
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Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
Sorry to hear that frustration. But that kind of market behavior is why I mostly do mental stops. There is often a fakeout move just prior to the real move. A good trader can use this tendency to fine tune their entry/exit orders.
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
As I have said on various occassions here, many of us will have had some interesting journeys and I for one am still on mine. Much of what you write is over my head Robert, so it is not intelligence that you are lacking in any way and that is said with the utmost sincerity. I have had so many eureka moments in the past 5 years, I have given up counting them and my wife has given up listening to them now - joining up the dots and assembling them into a cohesive and profitable arrangement is the key. Discovering all the dots or as many as you can count, is on its own, not. Much akin to a great piano player and someone who can smack the keys - you gotta find a tune in the mele and then a tune you want to hear.
There are a great many tunes being played on this forum but not all of the audience appreciates all of the tunes, even those being played well. But, this is a great place to learn Robert and I have found no better place to hang out, albiet it is undoubtedly not perfect. Some of us write here because we have been where you are now and hope to help others along their journey. There is no guarantee that you will make it as a trader Robert, but one thing is for sure.... if you give up, you definitely won't be.
I have been following this forum for a few years now but became a member only recently. I even miss the analysis of some members.
Some seem to have left us, like Eska and Mary and some are less active recently like chaudry and cw with my respect to each and everyone which includes you Mr. Robert in enriching this forum. I should also mention that I got hit hard in 2008 but I am still here and
taking losses now and then so don't get discouraged as this loss will only make you stronger.
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Originally Posted by Robert Eckert
