How not to make money trading the markets

[Hotch]

...and so it begins

(in best lottery announcer voice)

Today's directions were picked by Phil using Chatzy.

Entries:

USD/JPY
Short
Entry 9737.5
Stop 10207
Target 9708.28
£0.26/pip

USD/CHF
Short
Entry 11759.9
Stop 12352
Target 11728.2
£0.21/pip

GBP/USD
LONG
Entry 14055.1
Stop 13355.1
Target 14097.2
£0.18/pip

EUR/USD
SHORT
Entry 12572.4
Stop 13200.4
Target 12534.6
£0.20/pip

 

[pips-galor888]

Hey Hotch, I can understand why people may be laughing at your "theory" at the moment, however, if you used the coin to decide which currency is the strongest for the day you may have a better chance...

ie: heads and you long the USD against everything, tails you short it

May improve you chances, although I guess it will also increase you exposure as well!

Just my thoughts...

 

[Hotch]

Hey Hotch, I can understand why people may be laughing at your "theory" at the moment, however, if you used the coin to decide which currency is the strongest for the day you may have a better chance...

ie: heads and you long the USD against everything, tails you short it

May improve you chances, although I guess it will also increase you exposure as well!

Just my thoughts...

The problem has been noted. Something to think about. I'll look into it tomorrow.

 

[Hotch]

(in best lottery announcer voice)

Today's directions were picked by Phil using Chatzy.

Entries:

USD/JPY
Short
Entry 9737.5
Stop 10207
Target 9708.28
£0.26/pip

USD/CHF
Short
Entry 11759.9
Stop 12352
Target 11728.2
£0.21/pip

GBP/USD
LONG
Entry 14055.1
Stop 13355.1
Target 14097.2
£0.18/pip

EUR/USD
SHORT
Entry 12572.4
Stop 13200.4
Target 12534.6
£0.20/pip

All closed now.

Balance at £529.40

 

[bottomdollar]

Keep it up... keep us posted!

 

[hwsteele]

All closed now.

Balance at £529.40

Wow, I may have to throw every thing out the window and trade like you!!
Reminds me of this time I sneezed all over my computer screen. I had a horrible sinus infection. Well trading went great 'til I realized not all off the green "candles" on the chart were price. I cleaned up the screen and then things started down hill after that.

So have you come to any conclusion yet at this early stage in the game?

 

[Hotch]

Other then that Trendie's original thoughts were correct. It is silly, but it's a bit of fun. Trust this more then an EA though...:idea:

With the £30 profit, I can probably get a website as good as FAP...100% wins, 6% a day, LIVE CALLS. All I need now is a picture of the neighbours Ferrari(It's red and everything).

Soon I'll be too rich to hang around here...unless I end up like wasp.

P.S. Attachment is for Phil, you're all welcome to bask at it's glory.

(Free data, no opens and excel back testing, rushed job, results are probably as good as the system). Might be a glaring mistake though.

 

[Hotch]

Keano with his shiny 50p gives us:

USD/JPY
Long
Entry 9830.7
Stop 9380.7
Target 9860.2
£0.27/pip

USD/CHF
Short
Entry 11751.0
Stop 12301.0
Target 11715.7
£0.23/pip

GBP/USD
Short
Entry 14073.5
Stop 14723.5
Target 14031.2
£0.19/pip

EUR/USD
Long
Entry 12590.8
Stop 11990.8
Target 12628.6
£0.21/pip

 

[elitejets]

OMG - I cannot believe you are in profit!
Good on ya.

 

[teojh]

hotch ur thread title is misleading n fraudulent. i may have to report u.

 

[Hotch]

Keano with his shiny 50p gives us:

USD/JPY
Long
Entry 9830.7
Stop 9380.7
Target 9860.2
£0.27/pip

USD/CHF
Short
Entry 11751.0
Stop 12301.0
Target 11715.7
£0.23/pip

GBP/USD
Short
Entry 14073.5
Stop 14723.5
Target 14031.2
£0.19/pip

EUR/USD
Long
Entry 12590.8
Stop 11990.8
Target 12628.6
£0.21/pip

All hit.

Balance: £561.47

 

[walterboris]

Hello Hotch,
If you used the coin to decide which currency is the strongest for the day, you may have a better chance to improve you self, although it will also increase your exposure as well!

Good Luck

 

[Hotch]

hotch ur thread title is misleading n fraudulent. i may have to report u.

The title isn't "how to lose money trading the markets" though. Guess it depends how you read it, but I'll soon be able to afford lawyers who will argue that the meaning you are supposed to take is that it's "how to make money trading the markets" but doing it the wrong way.

http://i594.photobucket.com/albums/tt27/IllicoPresto/Motivational/YoureDoingItWrong11.jpg

 

[pips-galor888]

Keano with his shiny 50p gives us:

USD/JPY
Long
Entry 9830.7
Stop 9380.7
Target 9860.2
£0.27/pip

USD/CHF
Short
Entry 11751.0
Stop 12301.0
Target 11715.7
£0.23/pip

GBP/USD
Short
Entry 14073.5
Stop 14723.5
Target 14031.2
£0.19/pip

EUR/USD
Long
Entry 12590.8
Stop 11990.8
Target 12628.6
£0.21/pip

Dude, I don't see the point of your stop loss if you're going to have like a 500/700 pip stop gap!?
That's almost 4 times the average range for some of these pairs!

With SL's that far out for such small gains you're bound to hit the target!

It's nothing more than pure gambling (although the way in which you select your direction is as well)!

HOWEVER, its working!

 

[Hotch]

Dude, I don't see the point of your stop loss if you're going to have like a 500/700 pip stop gap!?
That's almost 4 times the average range for some of these pairs!

With SL's that far out for such small gains you're bound to hit the target!

It's nothing more than pure gambling (although the way in which you select your direction is as well)!

HOWEVER, its working!

The whole thread is sort of a joke. There isn't really a point to having the stop. Not bound to hit the target though otherwise it would be a great system, just bound not to hit the stop.

Wouldn't say it's complete gambling, some thought has gone into it. It's just high risk and a bit of fun, in the end, it's £500, so nothing to worry about.

I'll start missing targets soon enough.

 

[Hotch]

Forgotten Entries

My bad!

Maybe it was karma which meant I had a losing day.

USD/JPY

Entry: 9914
Exit: 9943.8
£0.28/pip

USD/CHF

Entry:11708
Exit:11743.1
£0.24/pip

GBP/USD

Entry:14190.5
Exit:14112.1
£0.20/pip

EUR/USD

Entry:12650.3
Exit:12534.2
£0.21/pip

Current Balance £540.6

Draw down of around 4%
Overall Gain of 8%

 

[pips-galor888]

8% - that's 16x what you'd get in a high interest saving account at the moment!

 

[Hotch]

8% - that's 16x what you'd get in a high interest saving account at the moment!

8% in 3 days though, not a year. This rate I'll be on what, about 5 mil in a year if I trade weekends (planning to).

Entries (by Big (GAY) Al):

USD/CHF
Short
£0.23
11693.7

USD/JPY
Short
£0.28
9783.9

GBP/USD
Long
£0.19
14132.1

EUR/USD
Short
-£0.21
12250

GBP and EUR should be around the other way but I clicked the wrong button!

and yes, I realise I'm getting really lax with this.

 

[Hotch]

Entries (by Big (GAY) Al):

USD/CHF
Short
£0.23
11693.7

USD/JPY
Short
£0.28
9783.9

GBP/USD
Long
£0.19
14132.1

EUR/USD
Short
-£0.21
12250

All but EUR/USD hit, EUR/USD exited at 12622.5

Current balance £530.84

Entries (by me as chatzy is soo lonely)

USD/CHF
Short
£0.23
11592.4

USD/JPY
Long
£0.27
9832.5

GBP/USD
Short
£0.19
14062.8

EUR/USD
Short
£0.22
12628

Hope you're all enjoying this, I sure as hell am.

 

[Claudia123]

Very good thread i always said market was 50/50 and got shouted at lol. Throwing a coin in the air beats staring at charts with pretty lines on. Out of interest do you use the same coin?