oldtime takes it in the shorts

Discussion in 'Forex' started by oldtime, Sep 26, 2012.

  1. My strategy was so good it seemed like no matter what I did I couldn't lose. 90% is just money management. 10% is reading the market. So to prove just how much was money management I put on (in my paper acccount ) the worst read I could possibly think of in the market.

    Sure as shit, it lost money every single day for over two weeks. After a while, I was looking for something to put on in my real account.

    I figured, nothing can be this bad, and after losing even more in the paper, I put it on for real. At first it was great, then it just continued on down until I believed, "Man, this really is a bad position!"

    Took a few profits, re balanced everything and got out about even and put on what I thought was a good read. Went to sleep for two hours and woke up losing everything I made yesterday, and the damn bad position in the paper (and if I had kept it on in the real) would have pushed me to a new account high.

    at anyrate, I have a good position on now that I am comfortable with. But after that paper account took out yesterdays high, I just took the old mans advice and walked across the street and bought a bottle of that good old Kentucky Whiskey.

    And that is why I am posting today, at less than where I was yesterday.

    too much info?

    oh well, you only have to read it once

    well there, that's the .01%, now it's time to get back to posting 99.99% bullshit.
  2. KingJedi


    Ouch.. thats rough.. I dont like holding very long myself less its ment to be an over all outlook play that also gains interest like the audusd going up over a period of weeks

    I was up till midnight last night est waiting on the asian breakout to get on the train.. got tired of waiting so threw in a short with a 10pip trail.. 2min after i went to bed it dropped like a rock
  3. no kidding, I have found that if you are suffering from depression, rolling is a heck of a lot better than drinking, but I'm not done with this trade yet, but you can be damnsure if I ever get out alive and get flat I will be rollin
  4. I'm short AUD/USD, so in a few minutes I get to pay for the whole weekend experience.
  5. so what I put on

    short aud.usd
    short eur.gbp
    long eur.usd
    long gbp.usd

    supposedly that makes me long eur.aud and long gbp.aud

    but I have added to so many winners and losers I'm not sure what I am

    the only pair still in it's pristine original starting position is short eur.gbp, it hasn't gone anywhere

    lot of work just to break even

    I was even before I even started this fiasco

    It's like betting on a horse race where every jockey is on the take to take a dive

    only the most skilled jockey will lose
  6. KingJedi


    You doing some form of gridding? I looked at that sort of scheme once.. was to much hassle for the payout and to close to being an average down type even with adding to winners

    Im still hesitent about longing that euro atm.. although over night i wouldnt be surprised at another pop up from the asians on the spanish news, really wanted to short it earlier over a few hours ago but then it just sat there so went flat again bailing on it
  7. 90% of the trade in eur is just speculators like you and me

    until ecb gets their act together they are at our mercy

    usd has real potential to go down

    of course, you never know how much of my opinion is already priced in to the market

    of all the currencies that need to go down, eur is the least likely to succeed

    any way you look at it, very risky down here, I'm trying not to fall in love with anything