Place your bets!

Discussion in 'Forex' started by Susitna, Jan 30, 2004.

  1. Susitna


    I think I may be on to something big. This whole week I have thrown out my meek attempts at TA and have randomly entered into trades, I use no information from charts or news, I just see a number I like and spin the wheel.

    As of today I am up $2619.00 for the week and this is the best I have done since I have started demo trading (not that long ago).

    My strategy is very simple, hit the button, if the trade moves ten points against me I get out, if it goes my way I stay in as long as possible.

    At first I thought that since this is a demo account, trades mean nothing because real money is not on the line.

    But then I thought about last February, I spent $1800.00 in Vegas for four days of gambling and drinking, why not skip the trip this year and "invest" the money?

    All I need is a few good Sinatra CDs and someway to talk my wife into wearing a skimpy outfit and bring me free drinks while I trade.

    I have read some really incredibly boring books on trading, spent hours infront of a screen only to have more questions now than when I first started learning about FOREX. The fact that I can do better randomly picking my trades only confuses me all the more.
  2. I recall reading somewhere that if you trade randomly, you will be net positive. I think it is natural for traders to try to pick tops and bottoms which is usually the worse thing you can do. Most traders find it hard to buy high and sell higher. Human nature works against us in trading.
  3. ig0r


    In a trending market, yes he will be net positive
  4. Susitna


    I am not picking anything, honestly I have been just hitting a number. Right now I am up 37 pips on GBP/USD.

    I just hit for basically nothing more than a "good feeling".

    I'm really serious about taking the money I would spent on our annual trip and just sitting back and having fun at this.

    If nothing else it will be a good experiance.

    BTW: My wife has told me there is no way in hell she will bring me drinks while I trade!
  5. "BTW: My wife has told me there is no way in hell she will bring me drinks while I trade!"

    ROTFLOL:) :p

    unfortunately my girlifriend said exactly the same :)

    ts ts women :)

    they dont know how easy it is to make a man happy:D
  6. Susitna: You never fail to amaze me by our similarities!

    What you are doing I coined "Trading Into Chaos" and you know something? You are right! Later I bettered the "system" slightly then renamed it "Trading with a 3-headed coin." Then... "Trading with a... 4-headed coin" and so on.

    I have learned that there is a "trending market" and a "scalping market." I know what both of these are. I just came across the term, "a trading market." If anyone knows what this is please tell me.

    What you do (and I have done), could it possibly be trading into a "chaos market"?

    If so, then perhaps you are onto something. It would answer A LOT of problematic questions of why traders lose even when they trade in a very organized and disciplined fashion.

    If a "chaos" market does exist, that is, the only way to WIN in it is by doing exactly what you do (random trading) then I would definitely stick with it.

    I think your SL at 10 points out is brilliant! Let your winners run - but also, as a suggestion, try cutting your paper profits (take them by closing your position) any time your greatest showing point profit retraces 10 points back toward you, no matter how much in profit you are.

    Let me know how that goes!


    Overload (I told you not to give up! ha!)
  7. Hmm ... you haven't defined your profit exit criteria, but never mind.

    Once you start trading for real and losing money, you'll start figuring out what works and what doesn't.
  8. So a guy trades randomly as makes $2k paper money.

    What a f***in joke.

    Then all the losers get together and start chear leading this garbage.

    ET should make a section for paper money stories.

  9. abogdan


    Am I missing something here or I had too much vodka? You are actually serious about this? Gees! I better have another shot!
    Keep me laughing!
  10. Yeah that's great. Keep it up. Real good idea.

    It's like Gekko says "Do you know why most fund managers can't beat the market? Cause they throw darts at a board. I don't throw darts at a board sport. I bet on sure things."

    Try to bet on sure things, or at least surer things than random clicks of your mouse.
    #10     Jan 30, 2004