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  • #49,621
  • Oct 29, 2024 1:40pm Oct 29, 2024 1:40pm
Quoting Lloyd628
{quote} Feeling an absolute idiot now. 1-0 to you. Deservedly.
Me too, I don’t know why I didn’t use my risk management, I opened many trade, now am in loss.
  • #49,622
  • Oct 29, 2024 1:43pm Oct 29, 2024 1:43pm
Quoting Mahapathy
{quote} From which point did you draw that line which comes from top to bottom in your chart I can understand that parallel lines that goes from bottom to top pls expalin
Pay attention to arrows please and study Alan Andrew's teachings.
Good luck.
Contrarian
  • #49,623
  • Oct 29, 2024 1:52pm Oct 29, 2024 1:52pm
Quoting Whale
{quote} Time frame of the count?
@whale
1 hour
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  • #49,624
  • Oct 29, 2024 1:58pm Oct 29, 2024 1:58pm
Bought at 2767 target ATH 2785 hopefully Asia hits my TP need to recover some loss from this morning.
average dude treading water
  • #49,625
  • Oct 29, 2024 2:09pm Oct 29, 2024 2:09pm
Took a short at 2773; STP=2780 and TP open (2740).
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  • #49,626
  • Oct 29, 2024 2:15pm Oct 29, 2024 2:15pm
rsi divergence on daily time frame
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  • #49,627
  • Oct 29, 2024 2:17pm Oct 29, 2024 2:17pm
Quoting W0lfram
{quote} + at 2732
+@2774
Let's wait more
Air force
  • #49,628
  • Oct 29, 2024 2:42pm Oct 29, 2024 2:42pm
Quoting Haks
{quote} So you actually ended the day positive? So why do you feel sad? Did you lose some of the profits or what?
Today, I overtraded, doing tons of scalping. I did not stick with the plan, so I let the losing trade run for a bit longer, which was very bad. In my experience, once traders let their losing trade run, sometimes their mind-brains does not work. Until the account blows, the losing trade keeps running. if a trader does not know when to cut the lose, he will blow the account sooner or later. normally i do small lot size DCA. but today i went for the big, once i see the gold price spike!

this is exactly happened starting of the month with jpy pair. i closed trade with 30% lose. i was so sad. this time same thing could be happened. i must need to be more disciplined if i want to take trading seriously.

I know a PAMM trader who had a 33 million fund. Last week he lost 79% of the fund within a day. In five years, all profit was gone within a day, and this is exactly what happened. I can provide his myfxbook via PM if anyone is interested; however, it's not updated yet. I had a 3K fund with him. however i lost only 300USD coz i used to withdraw from time to time for a year.

anyways i made some more profit with bitcoin now. feeling a bit happy now haha.
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  • #49,629
  • Oct 29, 2024 3:17pm Oct 29, 2024 3:17pm
Quoting Tintin2014
{quote} Today, I overtraded, doing tons of scalping. I did not stick with the plan, so I let the losing trade run for a bit longer, which was very bad. In my experience, once traders let their losing trade run, sometimes their mind-brains does not work. Until the account blows, the losing trade keeps running. if a trader does not know when to cut the lose, he will blow the account sooner or later. normally i do small lot size DCA. but today i went for the big, once i see the gold price spike! this is exactly happened starting of the month with jpy...
A PAMM trader? What is that? What kind of idiot you have to be to lose this kind of money within a day? How?
How to succeed in zero sum game?
  • #49,630
  • Oct 29, 2024 3:22pm Oct 29, 2024 3:22pm
Quoting dempire1
{quote} A PAMM trader? What is that? What kind of idiot you have to be to lose this kind of money within a day? How?
PAMM is like there is a trader and other people give him money to trade. if trader make profits, trader gets some commission from the profit like 20~30%.

i am not that trader, i only invested money in that system.


latest stats is not updated yet. idk may be trader and broker did scam with the investors. he lost 79% of the asset within a day.

https://www.myfxbook.com/members/Mar...ux/lux/8591067
  • #49,631
  • Oct 29, 2024 3:28pm Oct 29, 2024 3:28pm
Quoting Tintin2014
{quote} Today, I overtraded, doing tons of scalping. I did not stick with the plan, so I let the losing trade run for a bit longer, which was very bad. In my experience, once traders let their losing trade run, sometimes their mind-brains does not work. Until the account blows, the losing trade keeps running. if a trader does not know when to cut the lose, he will blow the account sooner or later. normally i do small lot size DCA. but today i went for the big, once i see the gold price spike! this is exactly happened starting of the month with jpy...
This is exactly what happened to me also when I lost big. I let my losing trades run (and kept DCA) for days hoping for a reversal but it never came. It's definitely due to lack of discipline and not following strict risk management protocols which is needed if you want to succeed in trading.

I don't quite understand how you friend managed to lose 79% of a 33 million fund in a single day. You don't even need to risk much to make a very good amount of money daily on such an account wow
  • #49,632
  • Oct 29, 2024 3:36pm Oct 29, 2024 3:36pm
Quoting Haks
{quote} This is exactly what happened to me also when I lost big. I let my losing trades run (and kept DCA) for days hoping for a reversal but it never came. It's definitely due to lack of discipline and not following strict risk management protocols which is needed if you want to succeed in trading. I don't quite understand how you friend managed to lose 79% of a 33 million fund in a single day. You don't even need to risk much to make a very good amount of money daily on such an account wow
i don't know him. he is just a trader who is managing other people fund.
  • #49,633
  • Oct 29, 2024 3:39pm Oct 29, 2024 3:39pm
Quoting Tintin2014
{quote} PAMM is like there is a trader and other people give him money to trade. if trader make profits, trader gets some commission from the profit like 20~30%. i am not that trader, i only invested money in that system. latest stats is not updated yet. idk may be trader and broker did scam with the investors. he lost 79% of the asset within a day. https://www.myfxbook.com/members/Mar...ux/lux/8591067
lol took me 1 min to find that they are scamming: https://www.trustpilot.com/review/ac...ex.com?stars=1

How to succeed in zero sum game?
  • #49,634
  • Oct 29, 2024 3:42pm Oct 29, 2024 3:42pm
Quoting Nordling
{quote} Unlimited How do they even calculate the margin requirements on that?
gambling is the answer i guess. I bet they never see their money even if they win.
  • #49,635
  • Oct 29, 2024 3:45pm Oct 29, 2024 3:45pm
Quoting Haks
{quote} This is exactly what happened to me also when I lost big. I let my losing trades run (and kept DCA) for days hoping for a reversal but it never came. It's definitely due to lack of discipline and not following strict risk management protocols which is needed if you want to succeed in trading. I don't quite understand how you friend managed to lose 79% of a 33 million fund in a single day. You don't even need to risk much to make a very good amount of money daily on such an account wow
i tried to warn people there was no reason to say the market was going this or that way, people were saying the market what to do and of course the market did it's thing and didn't care. One guy was even upset with me.
Respect the market, especially in a market with a one side run like this.
  • #49,636
  • Oct 29, 2024 3:47pm Oct 29, 2024 3:47pm
Quoting Haks
{quote} This is exactly what happened to me also when I lost big. I let my losing trades run (and kept DCA) for days hoping for a reversal but it never came. It's definitely due to lack of discipline and not following strict risk management protocols which is needed if you want to succeed in trading. I don't quite understand how you friend managed to lose 79% of a 33 million fund in a single day. You don't even need to risk much to make a very good amount of money daily on such an account wow
He didn’t lose anything. It’s all fake.
How to succeed in zero sum game?
  • #49,637
  • Oct 29, 2024 3:54pm Oct 29, 2024 3:54pm
Quoting dempire1
{quote} He didn’t lose anything. It’s all fake.
i saw live open trade in my account stats which matches the price with the market. but it does not mean he is not a scammer. may be he lost the fund intentionally last time, which could be fake trades.
  • #49,638
  • Oct 29, 2024 4:04pm Oct 29, 2024 4:04pm
gold - 30/oct/2024
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  • #49,639
  • Oct 29, 2024 4:06pm Oct 29, 2024 4:06pm
Quoting Zebi
{quote} you have to watch out for this guy...he became a red dot after just 35 posts during last summer...hes gaming the system like so many young kids do now and subscribed to over 2000 people and some returned the favor and subscribed back to him to be buddies so that's how he became a senior LOL other dipshits delete their hundreds or thousand subscriptions after they get their red dot but saal hasn't LOL....so id advise not to listen to whatever hes saying cause there's some ulterior motive for his behavior {quote} {quote} {quote} I called him...

I have been in this forum for a while now and have few select people i follow and i can name them.. however, trolls have another problem .. tagging someone who is exceptionally good can be harmed with negative comments and that makes good guys leave the forum, so i refrain from posting them. while labels are way of making people being identified as valuable or senior .. trust me, a long term trader can spot errors and know the potential of a trader..
Candlesticks dont move markets, Volume does
  • #49,640
  • Oct 29, 2024 4:45pm Oct 29, 2024 4:45pm
Quoting Polimini
{quote} i tried to warn people there was no reason to say the market was going this or that way, people were saying the market what to do and of course the market did it's thing and didn't care. One guy was even upset with me. Respect the market, especially in a market with a one side run like this.
Yes one thing I've learnt is to never ever fight the market. I had to learn this the hard way. The market does not care about what we think.

For example, I recognise that gold is extremely bullish hence why I am only scalping here and there and not committing to going short or long as it's not clear when this bullish momentum will end. So, I'd rather be in and out of positions very quick.
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