Dear Drasfs, I read your msgs on this thread. Personally, to me, you sound like a winner. Let me make that perfectly clear. Now.. um.. about forex... I don't think I'm meaning to indicate that YOU yourself cannot win, from the start... during the middle... or even 10-years down the line. What I'm saying is... you can't win... because there IS no winning against the forex market. Not against the market I trade in. Pretend you're on a solid and sound boat. And you're a master captain - been thru lots of storms and manipulated countless waves... in all kinds of waters, and have never sunk. Like you, I speak from experience too. However, forex is not the stock market. It's... tricky. Even the best captains can do nothing if they should meet up with a whirlpool. See, the forex market has these... vortexes. And they suck everything down into them. Winners, losers, traders, tall people, fat people, short people, black, white and grey people. Rich and poor, dumb and smart. No one escapes currencial vortexes. That's market Law. And worse than that, they're dual-vortexes. Meaning, they suck shorts AND longs in. At the same time. They're just... out there... in the open seas... in the sea of money. In the sea of fear, greed and panic. And there's no avoiding them. I think, maybe, you know, sooner or later, even if it's much later, as long as you remain exposed on the open financial waters, when everything goes dark - I mean blacker than anything you've EVER experienced... that's when you begin to feel your boat moving in directions... it shouldn't be moving in. You try to correct her. But you can't. Something's really wrong! You're right! Because you're in the open forex seas, and there's there's 6 hurricanes heading straight for you. But by then, it's too late. You can't escape. You're going down. Period. After 18,000 hours trading live and demo accounts I still have my original principle - meaning I never "blew" my account. And I'm in the market live and demo 100% of the time in one pair(s) or another. I'm never "on the sidelines." Yet, trading live - any time - in the open forex market, I do not count myself among the living... among the real winners. Nah, you know why? Because forex wipes out all the indicator traders, all the fundamental traders, all the technical traders, the news traders, the hunch traders, the traders who howl at the moon. In currencies, you either win or lose. The way I see it, if you (or anyone) cannot win because there is no way to, then the best you can do is trade... and not lose. Well, if you don't lose, then you're doing good. Better than most! So... maybe it is better to think of yourself as being a beginner who has really been having a tough time losing. So much so that you conceive of a present and future in which you, as in you yourself, actually win. That's where market reality steps in and says, Think again, Pal, I'll kill ya. Well, and I think Michael may agree with this, nobody really comes to the market thinking, "Oh, this is great, I'm gonna LOSE all my money... now, lemme just open a trade here so I can reduce my port by 50%! " No. Everyone comes to the market thinking they can win. Then to make matters worse they actually TRY to win! To top off the dilemma, some people actually DO "win" - in all definitions of the word. Heh, well, bro, even if you are one... THE one... the only one on the planet who has EVER won against the forex... the forex will hunt you down. It will track your every move in it. The market in which you WIN will stalk you... will blind you, will lie to you, will figure out why you open and close a trade then will give you false signals based on your OWN mind, emotions, temperament and perception. Now, as you find yourself down... maybe 40%... maybe 10%... maybe less.... Now you got to go back to your drawing board, change your demeanor, re-evaluate your feelings, your instincts, your mental processes, your trade and money management, your interpretations of news, fundamentals, technicals, charts, and so on. Then you'll need to re-interpret your interpretations. About that time, that pitch blackness of the face of the beast will beckon you.. will call to you... will convince you to open another trade because, after all, you got it figured out. Then, once you're in again, EVERYTHING changes - changes into mixtures of financial textures YOU'VE never seen before... as your trade is quickly sinking deeper and deeper into a drawdown.... Then you have three choices: LOSE a little, LOSE more... or LOSE a lot. The decision is yours. Maybe that's what Michael and me have been getting around to. Don't get me wrong. I've lost more trades than anyone on this forum, in demo accounts mainly, but probably in my live accounts too. So you can't tell me much more about losing than I already know. Well, there is the backside of the win/lose scenario. The side of which you open a trade and walk out NOT losing, over and over again. You want to call this "winning?" I don't. Only one thing keeps you from walking out of the forex with more money than you walked into it with time and time again. And that one thing is what you're gonna have to try to figure out. Hint: "Winning" ain't it. Good luck, theskalper
So they let your sorry ass back! Never do this again... Maybe that's what Michael and me have been getting around to.
For every action there is a reaction... Hedge this Michael B. How'd that 700-point tumble on AUD/JPY treat ya?
Folks let me tell you something... sKalpZy is the market. If the market could talk it would be sKalpZy... Gawd help me, if this is taken as a complement... feed the machine Michael B.
There's a certain neurosis that develops among those who want to be traders yet have no clue how to time an entry nor deal with taking losses, and have given up trying. The key symptom seems to be the need to write long-winded posts in order to explain how they've tried to work their way around their complete lack of timing and still remain in the game. But where are my manners -- wb skalpz!
Hey coinz, hope u will trade against bloody bucketshops no more. Isn't it time to look for better vehicles and fairer mkts?
I am not interested in the account statements, but I do need to see real time posting of trades from you here in the near future to ensure that you are genuine and pass my credibility test. Please do so beginning Sun night
No one escapes currencial vortexes. That's market Law.(quote) This is why a smart currency trader never trades at more than 5 to 1 leverage no matter what the exchange minimums are. I do escape these and do not blow up in the live account(never had a fake or demo). I think your way of trading is fine and I think mine is too. I'm conservative and I take the high probablity trades. This should answer the question that you posed earlier about what would you trade with if you blow up--answer is don't get crazy and blow up. I do still assert that once you know what you are doing in currencies, they are the easiest markets to trade--just don't get wild