Ah I see. I just hope he's doing what his system is telling him to do, rather than trading just to avoid being wrong in front of his audience. The decision to double-down on the EUR short is somewhat peculiar, especially after starting this thread just 24 hours ago.
Ah, I see the poster boys are out in force. For confused readers (thanks to the PBs), two accts were in play - one long, one short. I made little less than 50% profit on the long acct where I called a 100-pt spike a day before it happened, and traded it successfully. The long trade acct is now flat. My short acct trade is in great shape. An update can be seen here. Funny thing about the poster boys - they have NO open trades in EUR/USD - they don't even trade it - they're just commentators. Take it lightly, FX 1.2600ish
"Great shape" is -70 some odd pips? I suppose I can't be surprised that you don't follow yet another rule of successful traders: "Never average up/down". I sincerely hope you get out of the short - I'm not just saying that. I prefer you to remain your arrogant self rather than to have to suffer an excessively large loss. No one should have to take that on.
That's also not true. I just nailed a 75-pt TP (during the night) on GBP/JPY (see chart). I'm also 3-cents down on GBP/USD. But, successfully negotiating 3-cent DDs on cable is nothing for me. How's the hobby trading coming, Iv? I heard you were running for ET Poster Boy of the year. It's just a flucuation, DD 1.2600 <img src=http://elitetrader.com/vb/attachment.php?s=&postid=1136865>
This is the first we've heard of your loss Wait, wait...you almost had me. It's not a loss because you never close it, no matter how far down it goes. Hobby trading is going well. In fact, this month isn't as good as last month (when I made more than I did at my corporate job), but it's still good enough to buy the wife her sofa set she wanted so bad, the grill I wanted for the upper deck, and the hammock. If I made ET's poster boy, I'd be thrilled. Can I count on your vote?
No, no, only amateurs think that way. Remember what you are, Iv. Opening a trade... and "putting on a trade" are 2 different things. My trades are built and highly structured, not opened on a whim then nervously sweated like... some people we know. ;-) But, you're right, if a trade goes against me, I do not consider it a "loser" and panic like... *ahem* some poster boys around here do. No, no, my systems are multi-layered, with multiple trigger/exit strategies I apply during the trade, allowing me to walk out a winner where... some commentators we know... freak and "take the loss." Nice to hear about your couch and the cooch. Keep us posted.. FX 1.2594
Traders enter positions with a stop loss, take profit and directional bias based on what they believe will happen fundamentally, technically or with a combination of both factors. When we get stopped out, we shrug and curse a moment. But that's trading, and it's expected. Gamblers open a trade both ways and let it fly, without stops. What you do is no different than walking up to a roulette table, placing 5$ on red and placing 5$ on black. One of these days, a green zero is going to come up and stomp on you. But we'll never hear about it, mores the pity. Incidently, probably the only reason you can get away "trading" like you do is because of the mini-accounts you trade. If you actually traded units of a hundred thousand to half a million or more like some of us, you'd be blown away like a fart in the wind.
Hm... funny, I won my last 300 trades (open/close) in a row. Must be gambling. Thanks for keeping us posted, Iv! FX 1.2592
Yep... one of these days... one of these days.... *YAWN* Though, I think you may know more about trades being farts in the wind than me. dd 1.2592