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Only Gold!

  • #15,061
  • Aug 22, 2014 12:19pm Aug 22, 2014 12:19pm
Quoting goldstreet
{quote} nice but theres 2 issues with no SL.when you plus in a side you are minus in other side and the second issue you cant sleep.
Sir, i do not trade both direction. i enter basis on mth start mth end/ 1st and 3rd day of week interms of date.

one trade at a time unless there rationale to 'stack trades' all in same direction. SL in locking orders entry one by one.

Hence i guess in my position its either a plus or totally a minus for me.

Of coz with the trades running, tabulating the leverage and margin avai for me to look for opportunities of other pairs which falls in line with my analysis.

And i get what you meant by your above scenario thou, its kind of individual i guess.
Sincerely Yours Cheers!
  • #15,062
  • Aug 22, 2014 12:36pm Aug 22, 2014 12:36pm
what do you guys think of this will do to gold? if, in fact, this is true...

http://www.nytimes.com/2014/08/23/wo...w-nytimes&_r=0
  • #15,063
  • Aug 22, 2014 12:41pm Aug 22, 2014 12:41pm
Quoting DingDongWay
{quote} Sir, i do not trade both direction. i enter basis on mth start mth end/ 1st and 3rd day of week interms of date. one trade at a time unless there rationale to 'stack trades' all in same direction. SL in locking orders entry one by one. Hence i guess in my position its either a plus or totally a minus for me. Of coz with the trades running, tabulating the leverage and margin avai for me to look for opportunities of other pairs which falls in line with my analysis. And i get what you meant by your above scenario thou, its kind of individual...
aslong one on profit its all whats matter. When things go bad then will look for another way of trading. My first priority always not to risk more than 70% of my weekly profit when I trade. Thanks guys for sharing your way of trading and hope your numbers always green.
  • #15,064
  • Aug 22, 2014 1:13pm Aug 22, 2014 1:13pm
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hey its now
  • #15,065
  • Aug 22, 2014 1:36pm Aug 22, 2014 1:36pm
Closed my long from 1276.28 at 1280.32
flat now on gold (",) waiting next week
see u all next week folks
Senior Trader Multi-Account Manager
  • #15,066
  • Aug 22, 2014 1:51pm Aug 22, 2014 1:51pm
Quoting ClockTrader
Here is the summary of my trades: Average of longs: 1292 (48 longs) Average of shorts: 1310 (36 shorts) NET: 12 longs Floating Profit this month: 9% Profit realized this month: 2% Wish you all a nice & green weekend!

I know you use volume analysis but I don't see how that's efficient when it only gives you your brokers feed. And it seems people avoid facing the fact that it is only their brokers volume. What do you say about that?
  • #15,067
  • Aug 22, 2014 1:53pm Aug 22, 2014 1:53pm
muti confluence on 4 hour chart- stochs, -ab-cd pattern-pitchfork- cycles - saying Buy !
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There has never been a statue erected in honor of a critic
  • #15,068
  • Aug 22, 2014 7:57pm Aug 22, 2014 7:57pm
Quoting ClockTrader
{quote} My point is that I don't understand why people even use SL?

There are times when you'll be wrong.
Stop loss is a response when your analysis is wrong.
  • #15,069
  • Aug 23, 2014 5:33am Aug 23, 2014 5:33am
Of course my capital is way higher than 10K, that is only an example I was giving you.

If I'm making 10% return on capital invested in Forex, I'm happy with that. I have backup funds for Gold investments I do.

Whether you are risking or losing or making money, depends on the history of your statements. You are the best judge what your account is giving back to you in addition to profits, like education, expertise etc.

We share and contribute here. I like it when people have healthy debates here :-)

Quoting goldstreet
{quote} With my full respect to your trading strategy however I believe this strategy work for 100K account or more. Then the micro lots will be 1.0 and here you can open three or four lots. For 10K account I have another strategy : 1- I open a lot or tow of 1.0 asper the wave and technical analysis for sure not gambling. 2- I set a limit to lose like $300 to $500 on this trade. 3- If am in winning position I keep it open till I feel that I have reach the limit or theres no further profit. 4- If I reach the limit of -$500 on loss and I believe that...
Hello World!
  • #15,070
  • Aug 23, 2014 5:35am Aug 23, 2014 5:35am
Quoting Spec_And
{quote} No offense but I disagree with your view. I think its very risky for traders to not use SLs, yes the price might be revisited at some pt in the future but it could be weeks, months or even years before that happens, or it may never happen. There are people who bought gold at $1900 and those guys are still hurting now, same thing for the peeps who were short the S&P500 when it went under 1k. Trading with no SL works... until it doesn't (and the trader blows up or is stuck with the loss forever). I do agree with you that SL should not be tight...
I encourage people to trade with pocket money until they know what they are doing :-)

I am 90% sure about what I'm doing, I don't use SL, I like to hedge. Trades pay my bills.

I have had tough times and I agree I shall have tough times in future too. I work smart and hard!

I am content with what I'm doing.
Hello World!
  • #15,071
  • Aug 23, 2014 5:36am Aug 23, 2014 5:36am
I love everyone's existence here. It just needs to be a healthy view backed with honesty. Thanks for your view mate!

Quoting DingDongWay
{quote} Do not mind my existence here, i agree with you Sir. Basically it works the same way for my end, i used to trade with SL, but after 4 years of SL trading, i've slowly worked out on the RR and the probability of retracement/consolidation be it sideways over a period of time, i trade with no SL at all be it wadeva pairs. And i totally understand what you meant by your "Using SL implies you blew the very first opportunity to make money" as sometime when you pended trade, it goes the way down due to spike of sudden news effect/after which hitting...
Hello World!
  • #15,072
  • Aug 23, 2014 5:38am Aug 23, 2014 5:38am
Quoting goldstreet
{quote} nice but theres 2 issues with no SL.when you plus in a side you are minus in other side and the second issue you cant sleep.
I sleep well, healthy slumber for over 8 hrs every day.

I can't log into my FX account during weekends, so, I'll share the screenshots around Mon. I'm sure you have not been observing my trades here.
Hello World!
  • #15,073
  • Aug 23, 2014 5:41am Aug 23, 2014 5:41am
Quoting Ck87
{quote} I know you use volume analysis but I don't see how that's efficient when it only gives you your brokers feed. And it seems people avoid facing the fact that it is only their brokers volume. What do you say about that?
In first place, I have never shared how my VSA works, so how can you put up questions about what broker feed I'm using or how it works?

I repeat: the VSA I use is a big and complex system setup by a Russian coder, there is a group of analysts (incl me) who work on all this. Husshh husshhh stuff..
Hello World!
  • #15,074
  • Aug 23, 2014 6:11am Aug 23, 2014 6:11am
Quoting Ck87
{quote} I know you use volume analysis but I don't see how that's efficient when it only gives you your brokers feed. And it seems people avoid facing the fact that it is only their brokers volume. What do you say about that?
Since your question was sensible, I'll put up question for you. My question might enlighten you a little.

Have you ever tried VSA on different servers of the same broker?
Hello World!
  • #15,075
  • Aug 23, 2014 7:55am Aug 23, 2014 7:55am
Quoting ClockTrader
{quote} We can't change the thread title just like that, the fact is that I can't change it. Opening a new thread with a title like "Only Silver" doesn't look interesting either.
Then, no need to change anything ... if u 1 2 discuss silver, just do it here Easy Easy
  • #15,076
  • Aug 23, 2014 8:01am Aug 23, 2014 8:01am
Quoting ClockTrader
{quote} IF this is indeed on fire, let it show what it has got! I would remain patient with my open longs w/o SL and pile of shorts with nice GREEN SL. I will add longs next week unless there is a good reason to do that tonight.
same .. 2 longs with no SL
1 @1281
1 @1275
Initial TP 1298

QUESTION:
I have been thinking of adding more positions to winning trades for more profit ... BUT don't u think the new position has worse R/R ratio as well as higher risk?
I'd love u to share how do u manage risk for the new positions ?
  • #15,077
  • Aug 23, 2014 8:21am Aug 23, 2014 8:21am
Quoting ClockTrader
{quote} Yes, I don't like to use SL. I trade very light, actually its ultra-light given the way people trade here. I don't mind how people trade, but, I keep failing to understand why people keep trading hard to lose money. If you have a 10K account, I would suggest trading micro lots like 0.2 without SL. At the end of month if you can make 500 - 1K, its not bad. Of course it may take years of practice and good skill-sets. Until you have good skillsets, trade with your pocket money. Like Waleed said, there is 70% or more probability the price shall...
Yeah if 10K account trade with no SL IMO should be like this ...
open 0.05 lots per trade ... if win $20/oz, we get $100 = 1%
open 0.05 lots per trade ... if hold loss $60/oz, we hold loss $300 = 3% (which is pretty ok) then add another 0.05 Lot , if get to original point , we win 3%
***Risk is in control and Reward is acceptable ...
  • #15,078
  • Aug 23, 2014 10:34pm Aug 23, 2014 10:34pm
[qlute=ClockTrader;7693625]Of course my capital is way higher than 10K, that is only an example I was giving you. If I'm making 10% return on capital invested in Forex, I'm happy with that. I have backup funds for Gold investments I do. Whether you are risking or losing or making money, depends on the history of your statements. You are the best judge what your account is giving back to you in addition to profits, like education, expertise etc. We share and contribute here. I like it when people have healthy debates here :-) {quote}[/quote]

Am open to new strategies and thanks for your input. However I dont like to see plus in one side and minus on the other side.like to close on profit or lose what I can afford. Again my way only.doesnt mean you are wrong for sure. Aslong you are paying your bills that mean you on the right track. Good luck on Monday.
  • #15,079
  • Aug 23, 2014 11:03pm Aug 23, 2014 11:03pm
These guys have good volume data from good sources. http://orderflowfx.com/ I tried out their free trial, but canceled it. I think it works best in high volatility. If you get trial just make sure you cancel, because it is signed up with paypal. I didn't cancel, but they still refunded me. Seems like a well thought out system of indicators.
Shapeshift greed and catch em' off guard
  • #15,080
  • Aug 24, 2014 2:11am Aug 24, 2014 2:11am
Quoting Mr.Kane
{quote} same .. 2 longs with no SL 1 @1281 1 @1275 Initial TP 1298 QUESTION: I have been thinking of adding more positions to winning trades for more profit ... BUT don't u think the new position has worse R/R ratio as well as higher risk? I'd love u to share how do u manage risk for the new positions ?
When you open a position without SL, you MUST have GREEN statements of last 3 - 6 months at least. Secondly, the leverage should be like 1:5 or 1:10 at the most, IMHO..

Quoting Mr.Kane
{quote} Yeah if 10K account trade with no SL IMO should be like this ... open 0.05 lots per trade ... if win $20/oz, we get $100 = 1% open 0.05 lots per trade ... if hold loss $60/oz, we hold loss $300 = 3% (which is pretty ok) then add another 0.05 Lot , if get to original point , we win 3% ***Risk is in control and Reward is acceptable ...
You should open new position only after securing the previous position. In no circumstance you can risk 2 positions in one go.
Hello World!
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