Lost half of my years salary in a week!

Discussion in 'Forex' started by acdspit00, Oct 31, 2006.

  1. ssblack

    ssblack

    Dude, you are seriously retarded. You really need to stop going on and on about the currencies, you sound like a has-been that's reliving the glory days.

    Pay him back and go back to the hole you crawled out from.
     
    #231     Nov 3, 2006
  2. Bsulli

    Bsulli

    Regardless of the outcome of this thread I would like to personally thank acdspit00 for serving our country to preserve the rights and freedoms of every American. You are a credit to everything most Americans hold dear. Hold your head high.

    I salute you!

    Bsulli
     
    #232     Nov 3, 2006
  3. rcj

    rcj

    Mike ... The old saw: "actions speak louder ... " You could do this.
    Put, say 3 or 4k of your funds into the account (evenchange broker, maybe?). Use your fx trading skills to build up the acct over a 120 day timeframe. take your fee and the remainder goes to acd. A class thing to do, yes?

    ... rj
     
    #233     Nov 3, 2006
  4. ddunbar

    ddunbar Guest

    Here, here.
     
    #234     Nov 3, 2006
  5. mparkernys,

    When starting with 10k what do you recommend/use/teach/post/suggest/believe as trade size? Do you let the market dictate this or do you predefine? Do you evaluate "S & R" then "Risk to Benefit" and does it make sense to you at the decision point? Do you take losses? Does taking losses present a need for you to improve and strive for never taking losses, or are you comfortable knowing when to take a loss and do you feel confident when you do?

    When you try and place the ebb and the flows of market movement "in a can" do you find stops and targets trapping? Do you prefer chart patterns? Historical support and resistance...market sentiment...etc...can you elaborate?

    Being that the currency market is geopolitical and fundamentally driven in regards to its movement, correlations and reactions, do you consider TA the end and the means? You can take one look at the charts and know when there is some news out somewhere. Do you account for the economic calendar and do you consider statistics when putting on a position?

    When evaluating your entries and exits do you look at the daily, weekly or monthly chart for a bias in direction on your shorter-term plays?

    What are your thoughts on martingale and averaging in? what are your thoughts on pyramiding, hedging and correlations?

    Please excuse the many questions. Please try and answer each of them if you find the liberty to do so. Don't worry about your post length as I promise I will read each word as an observer and not a judge, but may I ask questions and reserve a place after your answer for comment?

    Now I want to post something that is on my heart. I want to commend you for coming to ET and welcome you to ET. It took a lot of courage for you to come here and post to this thread, assuming your were apprehensive to do so (I admit I personally would have never of done so). I am a volunteer moderator here and in no way represent ET and I do not place myself in any position other than to watch for spam and violations of the Conduct Rules on this site. The content of the posts are up to you guys. I happen to be a trader too and post a lot here about trading and recently I was allowed to be a moderator. I am more prolific in my posting here, compared to the other moderators and I find myself being a "guest" more often than a moderator.

    Michael B.
     
    #235     Nov 3, 2006
  6. "Being that the currency market is geopolitical and fundamentally driven in regards to its movement, correlations and reactions, do you consider TA the end and the means?"


    all markets are ULTIMATELY fundamentally driven.

    TA is merely a derivative OF fundamentals in every respect. TA is the study of price, and price (in the long run) is driven by fundamentals, however much price may diverge from fundamental value (as hard as that is to measure).

    many people (not you) create a false dichotomy between TA and FA. TA is just a way of modeling what people are doing vis a vis their trades, and FA is a way of analyzing underlying factors that may affect price, in any given timeframe.

    it's kind of like looking at emergent properties on different scales - in physics and biology.

    if one is scalping dow minis on an intraday basis, fundies are irrelevant.

    sure, when a news item comes out, fundies change, but i don't change the fundies per se, i trade the markets reaction to same

    just prattling here... carry on :)
     
    #236     Nov 3, 2006
  7. imbiber

    imbiber Guest

    When the first trade knocks out 25% of the equity what kind of money management where you using?
     
    #237     Nov 3, 2006
  8. that is what economists refer to in their technical jargon as "go for broke insanity"
     
    #238     Nov 3, 2006
  9. Excellent question, may I offer an answer?

    The TOTALLY RECKLESS, IRRESPONSIBLE kind.


    Mike, after reading yet even more posts from "your" forum, I really am getting a sense that you have helped a lot of people over there. Kudos to you for that.

    But I have to ask you again, "WHAT THE HELL WE'RE YOU THINKING WHEN IT CAME TO COMMON SENSE MONEY MANAGEMENT?"

    On the one hand you're a helpful, good guy. On the other hand, YOU BLEW THREW THIS KID'S ACCOUNT IN A WEEK.

    I just don't get it.
     
    #239     Nov 3, 2006
  10. Brandonf

    Brandonf Sponsor

    Don't throw good money after bad money. The guy obviously either has no concept of the risks he was taking or he just doesnt giving a damn, viewing your money as lotto dollars to be gambled with.

    One thing I would like to point out. I have been on these boards for a long time and posted a lot of trading ideas, advice, also written newsletters and whatnot. And the thing is I can always look a hell of a lot better in print than on my P&L's, its just the nature of the beast. A number of people have come to me and asked me to manage money for them based upon what they have seen me post on boards and my newsletters and I have built a nice business from it, so I won't knock it...but you should always ask for audited returns. Don't just trust what you see on the board. Again I think what happened with you is that the guy figured he had some mad money and he took a gamble and you lost.

    Brandon
     
    #240     Nov 3, 2006