I Bet You Think You Are..., But Are You Really Actually Even Trading???!!

[Crap Buddist]

I'm not a Doctor, But I'll have a bloody good look!

she's a surgeon.

Hello, did she have luck in finding it ? :cheesy:

Actually I'm doing me self backed independent gynaecology course on the weekends at the mo, so always looking for fellow medical professionals to help give me exposure by them providing said same..... I am a professional , if she's concerned mate..... give us a shout if she's willing...

cheesy !

 

[shadowninja]

Hello, did she have luck in finding it ? :cheesy:

Actually I'm doing me self backed independent gynaecology course on the weekends at the mo, so always looking for fellow medical professionals to help give me exposure by them providing said same..... I am a professional , if she's concerned mate..... give us a shout if she's willing...

cheesy !

Are you questioning the size of my manhood? How did you know?? Did she tell you?

 

[Crap Buddist]

no, just showing concern for a member !

 

[doberman]

There seems to be a new breed of sp89 style newcomers to these boards who have come here not to gain information and advice but instead seem hell bent on proving the tried and tested methods wrong.

oh well ho hum

Cant you see why?
we dont know how to enter
I started using stoplosses from 1 july that was the last day i made money ( In the last 2 hours have lost 40 pips)
just look at usa/jpy at a low 105 why dont i get in sp89 stly as that will go up to the 106/107s this week (after a few speeches)

 

[gooseman]

trading anyhing with jpy and tight stops is destined for disaster IMO. i don't know that much about fx but I know that jpy is wild and is probably thinner during europe hours.....

 

[shadowninja]

no, just showing concern for a member !

 

[gooseman]

i bow to your greater knowledge-just applying similar logic to my markets to be honest. just looking at an intra-day chart makes my knees wobble.

 

[gooseman]

won't catch me near a bank matey

 

[developinghometrader]

Then my friend you are not trading...simply gambling.

What your saying is (and traders will understand this more than you) :
.

Actually, it's all a gamble. ANYONE who thinks otherwise is in for a big wakeup call. But you have to stack the cards in your favor. I didn't say that I'm setting huge stops. I simply said that I set my stops "NEAR" resistance or support levels. "Traders" will most likely pick up on the fact that I'm trading with a trend. Once a price level reverses it's no longer a trend. AND I find that when I'm trading with the trend I have many more winning trades. But if I had set a "small" stop loss I would most likely be stopped out too soon.

Forums can be an entertaining place because there are so many "experts" with big egos. I was simply sharing what I do...that's all. Besides I think that setting small stops means you're less sure of your position anyway. It means that you're thinking you could be wrong and want to minimize your losses. This is a trader/gambler who is not accepting the losses! If you have more wins than losses...you're winning. Simple as that.

 

[Hoggums]

Besides I think that setting small stops means you're less sure of your position anyway. It means that you're thinking you could be wrong and want to minimize your losses. This is a trader/gambler who is not accepting the losses! If you have more wins than losses...you're winning. Simple as that.

That statement is so totally wrong in so many ways.

The argument about placing big/small stops is irrelevant. Stop losses aren't some abitrary amount, they should be at where your analysis and prediction is proven incorrect. It should be a black and white thing, and if you can't identify that point - then you shouldn't be placing the trade.

Also you can still be a winner - winning only 10% of your trades. It's not just about win/lose ratio. It's a common mistake of newbies to go for a high win rate with small profits. I have yet to see a system (apart from a horse betting system) that is profitable long term using that strategy.

 

[graemenash]

If you have more wins than losses...you're winning. Simple as that.

Er.... not quite.

 

[Lee Shepherd]

Actually, it's all a gamble. ANYONE who thinks otherwise is in for a big wakeup call.

Educated risk, yes. Gamble....NO. Your the one who needs to wake hear.

Forums can be an entertaining place because there are so many "experts" with big egos.

Your not one of them are you????

If you have more wins than losses...you're winning. Simple as that

As been covered by Hoggums and graemenash. Not true. Only newbies go for high win ratio's believing they are the best when in fact it is the points gained, not the amount of contracts you got 'right'. Many traders will jump in and out of the same trade several times for many losses before it comes off and goes their way.

Sounds to me that you are another 'expert' with a few wins under your belt.

 

[spanish89]

Cant you see why?
we dont know how to enter
I started using stoplosses from 1 july that was the last day i made money ( In the last 2 hours have lost 40 pips)
just look at usa/jpy at a low 105 why dont i get in sp89 stly as that will go up to the 106/107s this week (after a few speeches)

Whoooaaa whoooaa!! :-0lol:

Backup abit there son...,

My giant stoplosses style works on oil and ftse/dow (when ranging), but NOT on forex.


It works when the market has a mean average value that it will return to a few times like oil, or a ranging market like how ftse was for the last 2years ranging between 5500 t 6500.


forex can go in trends for months or even years in 1 direction.

 

[rathcoole_exile]

"son"

 

[gooseman]

forex can go in trends for months or even years in 1 direction.

oil has been trending in one direction since january 2007. it was $50.

 

[Hoggums]

oil has been trending in one direction since january 2007. it was $50.

FTSE hasn't exactly been ranging for the last 2 years either....

 

[pedro01]

Well - this is an interesting thread.

I was a long term holder of stock for a while - made about $20K with my 'play money' but still left my retirement fund to professional investors who have done OK but nothing impressive.

I stopped with the stocks when I realised I made the $20K more out of luck than judgement.

Then I tried the 'buy a methodology' - Ian Williams Trading The Easy Way which I suspect may work OK in a trending market but does actually require you to have quite a pot to trade the system with the stop losses defined. I doubt that Ian Williams himself makes a living from trading this method. On the other hand, it was definitely an eye opener watching myself abuse the rules I had laid down despite them being right in front of me.

So here is my plan which is in action & I would recommend like to know what the old hands think.

- Read lots & lots of books - get recommendations though as most are ****.
- Realise that at the end of the day, trading can change so you need to come up with your own method of making money. Don't buy a system because if it stops working - you wont have the knowledge to tweak it or make your own.
- Invest in software like Tradestation so you can backtest your ideas
- Backtest your ideas sensibly until you have a set of trading rules you are happy with
- Once you have backtested and are happy - start with small amounts of money & you will probably learn that it is very tough to follow your own rules

BTW - I am 38 and first programmed a computer at 13, I run a software company, so I probably have a slight advantage when it comes to the backtesting/programming side.

 

[normbeef]

Actually, it's all a gamble. ANYONE who thinks otherwise is in for a big wakeup call. But you have to stack the cards in your favor..

Here is the Cambridge dictionary version of what a Gambler is

gambler
noun [C]
someone who often bets money, for example in a game or on a horse race:

Focus on the words "GAME" ... this is the difference between trading and gambling.. the odds are against you in the casino.. gaming has defined barriers and rules like a football match or roulette table, thus to bet money of this is gambling.

i have seen many people get this distinction wrong, also people seem to focus too much on how many times they are winning as opposed to the size of the win...

 

[Mikeyfx]

Actually, it's all a gamble. ANYONE who thinks otherwise is in for a big wakeup call. But you have to stack the cards in your favor. I didn't say that I'm setting huge stops. I simply said that I set my stops "NEAR" resistance or support levels. "Traders" will most likely pick up on the fact that I'm trading with a trend. Once a price level reverses it's no longer a trend. AND I find that when I'm trading with the trend I have many more winning trades. But if I had set a "small" stop loss I would most likely be stopped out too soon.

Forums can be an entertaining place because there are so many "experts" with big egos. I was simply sharing what I do...that's all. Besides I think that setting small stops means you're less sure of your position anyway. It means that you're thinking you could be wrong and want to minimize your losses. This is a trader/gambler who is not accepting the losses! If you have more wins than losses...you're winning. Simple as that.

hey peeps

just my 2 cents worth alot has been covered i know.
A small stop loss does not mean you are less sure of your trade any more than a big stop loss means you are more sure.
imho a stop loss should depend on the setups you use and where point would be on these setups that you are clearly wrong about said trade also the pair you are trading (volatility) and time frame you are trading from.
a stop loss should not be a set limit on how much your prepared to "lose" but rather a judgement on trade you are taking based on factors i and others have stated that would clearly signal oyu got it wrong buster!!!
imho

 

[Mikeyfx]

Cant you see why?
we dont know how to enter
I started using stoplosses from 1 july that was the last day i made money ( In the last 2 hours have lost 40 pips)
just look at usa/jpy at a low 105 why dont i get in sp89 stly as that will go up to the 106/107s this week (after a few speeches)

or 104???? or who knows tomorrow 103?????

ffs