Oh you're a one, we must have entered a position, hahaha, that's very good for you forex-forex, have you considered a job on stage.........sweeping up!
Yeah Cable, looks like we've got Chuckles the fuckin Clown over here. You should ask him how his QQQQ calls worked out. http://elitetrader.com/vb/showthread.php?s=&threadid=138999 Forex-forex is apparently in the middle of another estrogen crisis.
Wow, got really lucky here on the EURJPY... I put in a scalp with a tight stop from around the bottom when it started retracing back over 122. ... and then my Internet blacked out a little, for 10 minutes. Luckily it was tight stops (-20pips) and tight target (35pips) - so I got the retrace and it still overshot with more than 20 pips. A lucky +35pips there, but I am glad I am not levering much now. I hate when the Internet fails and I am on a trade. The best thing is to have a dedicated computer as a router/gateway - and have several Internet access points connected to this - but still then you will need to reconnect to the trading platform etc. Someone should really make some good and fast "roaming" way for financial trading applications. I was thinking of proxy routing myself the other day here - but it will incur some additional latency.
lol, that's funny, I wonder how many accounts that is he's burned now, I've lost track! Not long ago he was offering a mentoring service, lmao
Lost my Internet connection here again (twice even)... But I was writing a post saying I really, really want to go long for longer term here on 121 EURJPY - now it's 70 pips lower at 120.30 ... but the risk aversion is getting the better of me. I did have a -500pips stop there - but since these kind of moves happen daily now, there is no way I will be taking such a trade now.
I don't know for sure, but he seems to be tearing through them in a hurry! LMFAO yeah that would be almost as good a service as leveragefx or Timmy Sykes.
I thought you said you "read markets and understand certain conditions" and that you're not counter-trend trading......but you've been looking to buy for the last 700 downtrend pips, have you considered maybe following your own advice by "running in a pack of traders" and selling the rallies instead of trying to buy the dips in a downtrend!
HOLY. SHIT. Anyone else catch that down move on e/j? Literally doubled my account in 5-10 minutes. Now Oanda's pulling this shit where it takes 10-12 seconds for an execution. LOL It got me for a hundred pips a few minutes ago when I was trying to exit. Magical server errors and delays all of a sudden. LOL It's all good though, the account doubling was still in effect with that considered. Took a large position for a scalp and the fucking thing went apeshit.
cabletrader, I am aware of the current effects and mechanisms playing into the currencies. I am not taking part just now - because it is simply too risky. I did buy into a small bounce - but that was because the setup was there for me. Otherwise - going against what I think is the fundamental view on the currencies - it is not something that I will do, even when I see a drop and opportune short is coming. I simply do not venture into the "technical side" of trading - I only do tape/price reading (slightly looking at chart levels, formations) and more fundamental news analysis. I am not into any Elliot wave, Murray turtle, CCI, MACD or anything else... they are just false representations anyway - just like my understanding of markets. They work at certain moments, but I prefer my more nimble approach to trading - simply scalping, and being nervous about it. My longer term trades are good for entry - but in these troubling times - getting the projected exit levels right for the size of waves - that is something I am not adept at. Therefore I think a simple trailing stop could be best for any of my "longer trades" when I decide to take one again. My fundamental view is that Euro is much stronger than the USD - and that what we are seeing are simply effects of the turmoil... (repatriation, delevering, emerging market hedging etc) That is first and foremost why I am not going short Euro, but I have thought about it at times when seeing a short wave coming. Reaver, be very, very reluctant using strong leverage in these conditions. Maybe adding to a successful trade is ok sometimes, but starting highly leveraged is very dicey. You need to be extremely careful - although you can get super profits - the risk is likewise. I got lucky on a â¬10mn scalp earlier this month - and it got me more than â¬53k - but I won't be doing a leverage like that again. I got a â¬-100k drawdown on several trades (longs + scalps) earlier too, and was leveraged roughly â¬7mn - which was just too much as well, when the market started reversing on me. I made roughly as much on scalping as I would have made on the two long trades, but then got the drawdown - and the long trades which were +700pips EURJPY and +300pips EURUSD at the top went negative (and from a roughly â¬150k profit into a loss along with those scalps) - really stupid when I think about it (should have used a large timeframe trailing stop).
No, I agree with you. To clarify, I only took a "large" position because that's how I make money scalping. I use a tight stop, so if I am wrong even though it's a highly leveraged position, it's still within my risk parameters. I am definitely with you on using too much leverage with these conditions. I was getting lit up earlier with the chop. It was brutal. This huge move was a fluke, it was literally about 10-15 times what I was looking for. It was definitely luck to get that much of a move. Definitely not trying to toot my own horn here, just one of those lucky moves you always hope for but rarely get.