Join the Dots. - page 60
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
MP -- update on truthful posting
In complete honesty Adask, there is no intent behind what I say to belittle you, only that for years I see and read the "same old same old" advice to newbs and it is rather boring and disturbing in its inaccuracies !
OK, this is my last reply to MP, as one guy advice me to ignore. Thanks to him, I can't pm, as I haven't posted 10 posts.
How on earth is that MY fault ? (LOL)
Thanks again. And newbies, please be careful trading with MP. I post this because I'm afraid that somebody will misunderstand MP's statements.
I felt even mad the he stated this - "To believe that forex is based on ODDS not only goes against the professional market...". These words show that MP doesn't understant what he is posting and what he is doing. He even doesn't understand what does the word "odds" mean. He says - "odds driven" market and then he says that such market is random.
Please allow that you are quoting me 180 degrees backwards --- this market is NOT odds driven in any manner (unless you wish to measure PERSONAL odds of success) and it is most definitely NOT random, and for years this is what i have stated everywhere --- the problem is that newbs read this and believe it, having nothing else to believe when they first start out. It is patently untrue or else so many people who trade WOULD NOT make a profit by taking profit at exactly the same place as the upper tier traders do !
That is nonsense. If market is driven by odds then it's not random
. Simple. In one post MP said that you cannot hedge in Europe, then he says that he uses Europe brokers as he can hedge there. Also there's lots of mismathes in MP's post but I'm not for that here. I want to explain most important thing that all new traders should understand:
Once again I find you 180 degrees off from what I say, but ask you to simply provide THOSE POSTS for my own edification as well as others --- I love to discuss (not argue) but I dont wish to discuss against false documentation or facts !
You have to see what chances (odds) gives your setup on every trade. If it's more then 50% then it's a good setup. And before taking a trade you should think - what are the odds for me to win? If positive and it meets your plan then go for it. If not - wait. To wait is the hardest part. Patience and discipline. As one great trader said on his interview "most of the setups are profitable", the biggest problem is with psychology. And again - if you see a trade which gives you good odds, go for it. If you lose this time it doesn't mean anything, if odds are on your side, then you'll have more profitable trades then losing one's during longer period of time.
I shall say this --- using "odds" in this manner can be acceptable english, applying to the person and not the market as it does, although it would be far better to "look at a trade and see if there is enough pips, after the spread, to make money" (as in scalping) or "how long will this trade take to pay off ?" (odds implies that there are two sides and I believe in only one --- THE CORRECT ONE, which you learn to take after a few years experience (or you simply die by the wayside)
As far as the use of the word "odds", in this case what you say agrees with exactly what I posted above --- PERSONAL odds are very different from calling the market "odds driven" --- a newbies "odds" of a successful trade is MUCH lower than someone trading successfully for 5 years --- thats simple common sense and if you wish to add "odds", so be it BUT nowhere in the real trading world is there room for the oft used word "odds" because trading is a game of support, resistance and price direction AT THAT MOMENT, and once a newb learns that simple and basic rule, "odds" no longer is a word mentioned by anyone !
And MP, please post, or PM me your live account statement that proves your consistent profit of at least 50 pips per day. 300 pips per day would make me shamefaced.
There must be quite literally at least 25 posts where i enclosed my statement for the day on this site alone --- would you like one for 400 pips a day, 600 pips a day, or 2000 pips a day ? Please note that while I post my amounts, it is obviously being used as a "hook" to attract attention amongst the newbs, in hope that I and those who trade in the same way, will be able to help at least a few newbs to learn trading, and not some silly system that may well leave them dead in the water.
As an aside, simply for fun and to see if i could do it, I took 500 USD and in one year turned it into over 12,000 USD working only part time (as in one or two trades a day, or week or whatever) --- Im actually fond of that little exercise and I gave it to a family to use as the beginnings of her trust fund.
The game is not simple, but neither is it brain surgery and those who REALLY want to trade for a living (and its got to be the best darn "home business" ANYONE could ever want, can learn how to do it --- those who wish to "get rich quick" must stop taking energy drinks and understand that it takes at least a year to get to the point of being relatively competent, two years to become "decent" and a few more before you are "invincible !"
So in way under the amount of time it takes to go to college, and MUCH less than it takes to become a brain surgeon, you can earn what a brain surgeon earns, while sitting at home, sipping a caffe mocho supremo or a pina colada on the deck of your 150 foot yacht, but first you simply have to LEARN how it works before you get the rewards, and OMG are those rewards something else !
With such a prove I would make sure to meet you in real live and then we would talk about the terms of how you could manage huge real account.
Please note that I already manage a fairly decent sized account but that there are NO available shares to be had for a few years now and no new ones will be issued in my lifetime, BUT I can show YOU how to trade well and do it yourself.
ENJOY AND TRADE WELL
mp
just have a glimpse on what you GUYS are saying
-- but every 2 month or 2 weeks, there are new market scenarios
the ODDS is that you win money in the market -- the logic of casino surveillance
the common is that, if there is a long DETERMINATION suddenly exist in the 30M candle (just 1 candle that determine what happen next in the market) -- then everyone could predict the price range during the next 2 hours
I think he means well -- forex is just like playing the odds in the casino table-- big boys like to do that, if you watch the market 12 hours a day, you will notice, how they READY SET GO
and if we say the market is NOT RANDOM -- then we should ask ouselves, is the template or indicator that we choose to TRUST -- is it our random choice or a conscience choice with statistics or last week analysis to support it == for myself, I do randomly choose one for one currency as long as it seem to FIT or somehow I like to test that template on that particular day -- I got far too many GOOD ONES to choose from -- all got prediction power
there is a school of thought that , investment , price does reflect all available information
volatility of the candle is pure random
so some people use diffusion, equilibrium and brownian movement (physics) to understand the randomness in the market [ eur/chf in this 30M dig -- subwindow of the chart ]
http://imgur.com/Ks5uC.jpg
=-== good to tell you that, if you take square root (such function probably exist in MQ4 help -- for coders to reprogram the indicator) then you could see TREND
but unlike the physics experiment, the trend won't expand until INFINITY, that you will get RED HANDED and big surprise when it happen -- e.g. the IDEAL exit point
--------------
many people
think of the pricing level as GROCERY supermarket price (rise and fall during seasonal promotion)
but this is NO NO
you should think of forex market as
GETTING refund from supermarket-- and supermarket will refund on your purchases -- with current price on the product concerned -- no receipt required
I would like to redefine JOIN-THE-DOTS that you've seen
sorry, I won't tell you the indicator, but you might figure it out -- not too hard, if you search and try for lot of indicators here and there
----
the is the result of our analysis
the base line of my triangle is the DOTS major COLOR
i.e. if the big dots are mainly green, then I draw up triangle with the base of the triangle at the base of candle
i.e. if it is mainly red, I draw DOWN triangle
this is 2 picture that give you a sense of direction (and we have to ignore the stubborn-ness and SWING thinking of our brain -- nothing is absolute pendulum in forex)
hope you like to join the dots and find your favorite color book (charts) to join the dots too
-----
kind of like RS breakline -- but we can enter in the 2nd or 3rd 30 M candle, i.e. delay is allowed, and we can still pipping - so it is GOOD
wanna to ask 6140 -- a very HIGH LEVEL question
almost like mathematical proven thing for a methodology on HEDGE locking pair, in forex ,
let us assume, I trade with CADJPY or AUDJPY with moderate volatility
and lock in a HEDGE CONSTANT LOSS (i.e. direction are pointing away from each other) , these 1 pair of constant LOSS worth -65 to -85 pip,
and
if I close these 2 at once, I will suffer pip spread cost of -5.5 pip -- have to accept to close these 2 within a second to reduce uncertainty during unlocking
NOW , the price level of that trading pair , is between these 2 hedge pair open price, i.e. I suspect that it is a ranging market right now
should I use 1 more additional transaction on $cadjpy or $audjpy
to put TP at 55 pip
then when this 1 new OPEN trans reach +25 pip and still profiting
I set SL to become (i.e. set SL later) of -20 pip i.e. SL -20 TP +55
i.e. after this NEW Single transaction reach +55 profit, then I will close that 2 hedge loss and swallow the over loss of +55 -65 or -85
and if these new 1 SINGLE transaction reach -20, then I will keep the HEDGE pair for its constant loss FOR A WHILE LONGER
===
question
is this 3 transactions, pip spread cost of -15 pip in total is the BEST strategy
I thought about to unlock the hedge during USA NY 1pm too
or how you will handle this 1 pair (2 open trans) of hedge constant LOSSof approx -65 to -85
as other method could incur more uncertainty of more PIP SPREAD COST
so this difficult Q is for you
----
somehow it is not a real charting Question , but hypothetical question -- as I am devising the STRATEGY for next week trading
let just assume , in the chart above -- I enter it wrongly (hedge a lock for constant loss, even my intention was not hedging)
buy in the Up triangle and SELL in the down triangle , what will happen after the SELL triangle, I don't know -- i.e. anxiety and I am unable to predict what happen next, but that week( football soccer week) , the market seem to be quiet and RANGING , most of the time, of course , I could not use some weekly statistics to help, as it is FRIDAY
and I have to decide whether to HEDGE lock or SWALLOW the loss before MONDAY possible WEEKEND GAP on USDX (u s dollar index)
-- I don't trade EURUSD as the above diagram as the volatility is not beneficial to the customer side
but I think the dig above is good enough to illustrate my question, remember, beyond 2nd triangle the market situation is UNKNOWN -- and we don't know what will the big boys will do in the next 36 hours
MP -- cant answer this one without a chart
my golly
it is simply impossible for me to answer this question without a real life situation and chart to look at --- I have NO idea of where these two pairs would be heading now, or in the near future and cannot answer the question in any way but philosophically.
Only if I can see where a currency pair is heading can I make any decisions, and youve given me nothing to work with, im afraid but a hypothetical question that i dont totally understand anyway.
perhaps someone better than I can answer the question, but one thing I note there is that a "normal" reversal (if indeed its going to reverse) will happen at 12 NOON, EDST and not at 1 and if it DOES reverse, then any additional trades you took BEFORE the reversal will be doing what your present hedged "floaters" were doing so you would be in the same situation, only now backwards !
If there were a chart, then I could predict what and where your hedges might become profitable, but as i said before, without seeing where the price is in relation to any reverses makes it way too hypothetical for me !
enjoy and trade well
mp
wanna to ask 6140 -- a very HIGH LEVEL question
almost like mathematical proven thing for a methodology on HEDGE locking pair, in forex ,
question
is this 3 transactions, pip spread cost of -15 pip in total is the BEST strategy
I thought about to unlock the hedge during USA NY 1pm too
or how you will handle this 1 pair (2 open trans) of hedge constant LOSSof approx -65 to -85
as other method could incur more uncertainty of more PIP SPREAD COST
so this difficult Q is for youwhat charts and where ?
mp
Q as 2 reply above -- with charts
...
what charts and where ? mp
...Opsss...I have a feeling I am going to enjoy this dialog....go on lads...make my day...
Q as 2 reply above -- with charts
...
xxxx...no wonder you're loosing...those golden arrows on the bottom repaint like crazy....
How many times have the above been posted in FPA?
I know brokers are rated at the FPA's "Forex Brokers Reviews" section, but still, once again, I would suggest that the FPA have a concise & easy to refer list of Brokers who are Definate Scammers, Suspect scammers, and Doubtful (not recommended).
This would most certainly make it easier for all Newbies to see at an instant which brokers that they should avoid. Also, brokers, whose names are in that list, would have to work very hard to have their name removed.