Monday, October 6, 2008

!?



7 comments:

4x For Life said...

of all the pairs in the fx market my fucking ass was short that pair.
Do i need to finish the story?

FX said...

O man...

That is bad, of all the pairs...

I hope that your loss is recoverable and that stops were in play.

I'm so grateful that I wasn't by the screen in the afternoon because I would for certain go against the trend.
Insanity, I'm watching now eur/aud and it's jumping 50 pips/10 sec up and down. It's better now to put head in the sand and miss all of this. Risks are off the charts.

4x For Life said...

I went back and looked at what could i have done different? I was in the money plus 185 hmm trailing stop would have been nice. I forgot to put it on before i left. And your atr is way off, I have been plus 290 in one day on this pair. You gotta have stones to trade this pair, makes sterling yen look like a walk in the park. That's trading? so no more crying about -50 pips k me? -157
oh well. The markets have lost there minds. But i think today we will see a change in the trends?

FX said...

I was afraid that your loss is bigger regarding what a move was that. You have big swings in profit column, this didn't bruise you. Sure it wasn't pleasant.

HPT on his blog blow up again and decided to quit.

Hard game right now.

ORION MACHINE said...

My God those moves are awesome! Too bad all I do is trade the EUR/USD pair, the zone would have done gangbusters on that shit!

I can't believe, well, I can, that HPT blew up. He can't stick to his game plan and that will kill every single trader in the end... He is caught up trying to be right, and that will always lose you money in the end.

I have said this many many times, but it took me YEARS to understand the importance of letting the losers go... its the only way to win.

Just to keep you updated I have been doing alright for a long time now. I have increased the Casino to 20 pips= 1% right now (due to volatility) and have been averaging about 1%-1.5% a day. Its very small, but its enough to make me happy. Things are well, but I would count myself lucky to some degree.

I have to turn off the charts after my trade to make sure I stay out, you know how tempting it is to trade more when you are sitting and watching.

My success with the casino method has definitely made me an unbiased trader. When I look at a chart, I don't give a rats ass which way it goes. That has set me free and I love it.

Of all the traders struggling right now, I am very fortunate not to be one of them. I hope all continues well with you guys, but other than those remarks, I have little else to say ;)

FX said...

Hi orion, I'm very pleased that you stop by and made a comment. Great thing that your casino method is doing fine, I know that you like bigger percentages but money will follow by compounding so there is no difference is it 1% or 5%.

Yeah HPT is not even participating in comments on his site for now. We all have on our unique way learn what is needed to succeed in this job. It's not enough to know what is needed it got to be your second nature.

I'm generally happy when I take a look back on trading year ago, two years ago and compare it with now. I still do ugly mistakes but I can see improvement and for me that is enough.

ORION MACHINE said...

I would love to see a chart of his mistakes to be honest. Its understandable that he is not responding. I have dealt with the depression of losing big in the market. I thought about quitting but realized trading is in my heart forever.I made it all back and then some, so giving up would have been a bad choice for me.

I agree that we all have our own ways of coming to the same truths. take it easy and watch yourself in this market with that averaging.