Thread: GBP and JPY Pairs H1 2013

Originally Posted by beeryboogy

Thanks meonia. I'm in the same boat with a net long position of 2 lots at 1.3535. I'll take your advice and put a stop in there below the Friday low and look for a retracement back above 1.3500. I don't know if it will happen, but Friday's rout was pretty one-sided and it seems the EURUSD may be a little oversold short-term. I hope I can at least break even since I don't have much equity to play with in my little micro account of $45 -- I'm just learning Fx (the hard way, apparently). :-)

Thanks again,
Bryan

Oh well... My account was wiped out with a margin call at 1.33. Better luck next month when I try with another $25. I give it $25/month. :-)

Bryan

blankfein

no, no please no dont go near the window
please dont kill yourself

nooooooooo
uuuuuuuuuuuuu
bump

why on earth do you have to jump out of the window ?

you small baby
dont you see that all the positions were opened
before monday?
cant you see the date, look at my posts and you will understand why i have entered at those levels and why the positions are in that configuration.
you are so funny
i begin to like you now

i don't predict things, i am not a fortuneteller
no one can predict forex markets
i try to make money, some weeks i do some i don't
and another thing for u
dont hang around forums waiting for free calls for your demo account
the calls made from others are for them only, not for you, since you are not part of their analyze
having you as opponent is not at all flattering to me, but ...
btw, i am not doing good for the moment as you can very well see, from the positions, ok ?

beeryboogy
dont get discouraged at all
it is better to lose 25 usd now than 1000 usd later
the forex is all bout money management and not about picking right trades or not
dont worry

Originally Posted by arthurb

blankfein

no, no please no dont go near the window
please dont kill yourself

nooooooooo
uuuuuuuuuuuuu
bump

why on earth do you have to jump out of the window ?

you small baby
dont you see that all the positions were opened
before monday?
cant you see the date, look at my posts and you will understand why i have entered at those levels and why the positions are in that configuration.
you are so funny
i begin to like you now

btw i don't predict things, i am not a fortuneteller
no one can predict forex markets
i try to make money, some weeks i do some i don't
and another thing for u
dont hang around forums waiting for free calls for your demo account
the calls made from others are for them only, not for you, since you are not part of their analyze
having you as opponent is not at all flattering to me, but ...


beeryboogy
dont get discouraged at all
it is better to lose 25 usd now than 1000 usd later
the forex is all bout money management and not about picking right trades or not
dont worry

I know the positions were open before monday, you clearly know what i mean, you are a troll to the max. You chat rubbish. I can just as easily type i opened positions today at certain levels which would have made me money. So don't post rubbish. You once said your a man of the future, I didn't say you knew the futurre. So tell us what will happen don't boast about open positions as I can say I opened a 100000 positions at 1:47 short eur/usd. Talk about what will happen not were you made money.

can you guys tell me what to do so I don't see this mupper arhtur b.Thanks

Lloyd and Arthur, I have been reading this forum for about 10 months.

In all the arguing I have never seen a situation that had a positive resolution.

The only thing you 2 are doing is wasting valuable pip time.

There is an ignore feature you could both take advantage of.

Although as most argument in life, it looks like a lack of understanding of each other.

I bet 500 pips if you two sat down to some coffee or a beer and chatted you would enjoy each others company very much.

On the trading side. Who is looking for any type of rebound this week? Is everyone on the bearwagon? I know I am as long as markets keep falling. Been short since 1.37, possibly could be holding for the long haul down or cutting to half position at 1.31

Originally Posted by beeryboogy

Oh well... My account was wiped out with a margin call at 1.33. Better luck next month when I try with another $25. I give it $25/month. :-)

Bryan

Hey beery. I love that your using micro account because its better then demo or any other to learn trading. I really do not think having only 25 dollars is going to be enough to deal with swings. That means with a small lot you can only have around 220 pip swings this way or that, If i were you I would start with 50 dollars and have 1 trade open at a time. DO your homework like crazy but if someone like Market or Brad (There are many others that are wonderful but these 2 are exceptional at this point in time) points out a good trade opp, it would probably be a good idea to try it out. Happy tradin sir!

Originally Posted by Bignatx

I bet 500 pips if you two sat down to some coffee or a beer and chatted you would enjoy each others company very much.

Hello Bignatx,

Hmmm.... I can see the point you're making. But, in this particular case, I firmly disagree and will stand on the other side of this bet!!

So, it's 500 pips that these two would definitely not enjoy the other's company were they to meet!! I think the continuous references to "double bankrupt Germany and Hitler...zzzzzz" would ruin an otherwise pleasant evening!!

Originally Posted by Bignatx

Hey beery. I love that your using micro account because its better then demo or any other to learn trading. I really do not think having only 25 dollars is going to be enough to deal with swings. That means with a small lot you can only have around 220 pip swings this way or that, If i were you I would start with 50 dollars and have 1 trade open at a time. DO your homework like crazy but if someone like Market or Brad (There are many others that are wonderful but these 2 are exceptional at this point in time) points out a good trade opp, it would probably be a good idea to try it out. Happy tradin sir!

Thanks buddy. :-) I'll confess what my biggest problem is (and I've been trading stock, options and futures for about 4 years now - just tried out Forex last month) -- and that is that I have a difficult time exiting from losing positions. I know about stoploss, but I just feel like when I put a stop on an open order, that's a signal for market makers to go and get my stop and bounce right back. In fact, I watched when volume was low one time: I put in a stop on a short about 5 ticks above the last swing high. The price climbed right up to my stop, took it out, and came right back down again, and of course continued on down so that my position would have been profitable. From then on, I have not put any stops in at all -- I just don't know how to do it I guess.

My $25/month limit is because I lost about 70K over the past couple years and decided that I just don't know what the heck I'm doing. So I figured that I spend about $25 on 9 holes of golf in summer, so I'll spend that during the winter for my Forex entertainment. I guess after losing all that money, I don't expect to ever be able to make a profit at this, and so it's just entertainment.

In the meantime, since I've been a computer programmer for about 27 years, I'm writing some trading indicators and strategies with another guy who does know what he's doing. At least that's something I'm good at! :-)

Take care,
Bryan

Originally Posted by beeryboogy

Oh well... My account was wiped out with a margin call at 1.33. Better luck next month when I try with another $25. I give it $25/month. :-)

Bryan

you're not suppose to use margin at all if your a newbie (lest then 3 years trading )
U shouldn't risk more then 5% of your account size per trade

If luck is what u looking for go to Vegas they have great deals these days

Originally Posted by DollarBull

I was expecting a corrective climb for EUR, EURJPY etc since they fell drastically on Friday. However, the imminent rate cut by ECB (rate to 2.0) may kill EUR further and also aggravate the risk aversion. Both EURUSD and USDJPY may fall further, thereby sending EURJPY to 115 or even much lower. There may not be any noticeable recovery until then.

Hi -- I had the same thought myself about at least a 38% or 50% correction on that selloff on Friday. But it was my undoing. I of course let my losing position ride until it emptied my little account. The smart thing to do would have been to unload that position for a loss and go short with the trend. But I guess I'm not that smart. Taking a loss is not easy for obsessive perfectionists. ;-)

Bryan

Originally Posted by eurolinux

you're not suppose to use margin at all if your a newbie (lest then 3 years trading )
U shouldn't risk more then 5% of your account size per trade

If luck is what u looking for go to Vegas they have great deals these days

You're telling me there's more to winning at this than picking lucky trades?? Do tell. ;-)

By the way, when I say 'margin call' I mean that my account equity came down to less than my allowed margin, which is +$2.50 per lot. So when the account got to $5.00 equity, it closed my positions. I don't trade on true margin (loaned money) any more.

Bryan

Originally Posted by beeryboogy

You're telling me there's more to winning at this than picking lucky trades?? Do tell. ;-)

By the way, when I say 'margin call' I mean that my account equity came down to less than my allowed margin, which is +$2.50 per lot. So when the account got to $5.00 equity, it closed my positions. I don't trade on true margin (loaned money) any more.

Bryan

yes
the whole point is
not to be right or wrong
but how much you make when you are right compared to how much you lose when you are wrong
and since you have traded stock or futures before
i think you know by now
that to enter a good trade
you need to test your idea first
before you jump into the trade with high volume

another thing that kills you instantly is overleveraging
i do firmly believe from experience that anything more than 1:50 kills you
i myself use 1:33 and 1:50 on my forex accounts
the SL is based upon the setup and the indicators u use (if any)
but trading more than 2 % on each trade is not advisable on MM rules
you should also respect the risk reward ratios

unless you are scalping you should hedge your trades
i do it not within the pairs itself but thru crosses

money management is the winning, not the trades
you can lose 61 % of the trades but it will take you only the 38 %
to make you win big time, in the long run

i dont know much about micro accounts
but i know one thing
the big fish always eats the smaller ones

haha
about the 500 pips bet , Paul you are right, hahah

i wish this forum had a chat option
so i will not be forced to waste people's time and forum's space
on useless and pointless posts from my side
sorry, i hope will not happen again in future

COT tells me this thing is going to turn around
the problem is when ?
CFTC Commitments of Traders Report - CME (Futures Only)
look for non-commercial
they are the apostles of the gods of the market
dont look at commercials (hedges)
or not reportable (speculators and your brokers)
look the dates back in time and their shifting movement to each other L or S

this chart will make it easier to understand
i found the chart on another forum, btw

Originally Posted by arthurb

yes
the whole point is
not to be right or wrong
but how much you make when you are right compared to how much you lose when you are wrong
and since you have traded stock or futures before
i think you know by now
that to enter a good trade
you need to test your idea first
before you jump into the trade with high volume

another thing that kills you instantly is overleveraging
i do firmly believe from experience that anything more than 1:50 kills you
i myself use 1:33 and 1:50 on my forex accounts
the SL is based upon the setup and the indicators u use (if any)
but trading more than 2 % on each trade is not advisable on MM rules
you should also respect the risk reward ratios

unless you are scalping you should hedge your trades
i do it not within the pairs itself but thru crosses

money management is the winning, not the trades
you can lose 61 % of the trades but it will take you only the 38 %
to make you win big time, in the long run

i dont know much about micro accounts
but i know one thing
the big fish always eats the smaller ones

haha
about the 500 pips bet , Paul you are right, hahah

i wish this forum had a chat option
so i will not be forced to waste people's time and forum's space
on useless and pointless posts from my side
sorry, i hope will not happen again in future

COT tells me this thing is going to turn around
the problem is when ?
CFTC Commitments of Traders Report - CME (Futures Only)
look for non-commercial
they are the apostles of the gods of the market

How do you know when you're wrong, as opposed to the market just being volatile or getting stopped out by market noise then?

Originally Posted by arthurb

COT tells me this thing is going to turn around
the problem is when ?
CFTC Commitments of Traders Report - CME (Futures Only)
look for non-commercial
they are the apostles of the gods of the market

Commercials and noncommercials are net short
this tells me EUR will rally

please correct me if I'm wrong

Originally Posted by beeryboogy

How do you know when you're wrong, as opposed to the market just being volatile or getting stopped out by market noise then?

You should know what is volatility and what is the main move before you enter the trade and place your stops and money management strategy accordingly

Originally Posted by eurolinux

You should know what is volatility and what is the main move before you enter the trade and place your stops and money management strategy accordingly

I was looking for some collective wisdom there.

When I ask "How do I know" and you answer "You should know", that's not helping me along any.