Sure Fire Way To Make Money In Forex

[carlgreen]

Hi Everyone
If you want an absolute sure fire way to win in the Forex Market..........Just do the exact opposite of what I do!

If I go Long on a pair.......it Goes down.....
If I go Short on a pair.......it goes up!

(As you can probably tell.....I'm having a bad day )

Roll on the day when I discover a trading strategy that works! (I have asked Santa for one but don't hold out much hope!)

Seasons Greetings to all

Carl

 

[gamma]

Whoever does the opposite of you will also lose !

 

[avibe]

ha ha ha ha

 

[shadowninja]

Can you tell me stop sizes and exit rules? Ta.

 

[carlgreen]

1st exit rule is get out of a long position just as it takes off like a rocket and get out of a short just before the price drops like a stone

As for Stop Sizes.........when you begin to sweat blood......STOP

Carl

 

[alan5616]

Hi Everyone
If you want an absolute sure fire way to win in the Forex Market..........Just do the exact opposite of what I do!

If I go Long on a pair.......it Goes down.....
If I go Short on a pair.......it goes up!

(As you can probably tell.....I'm having a bad day )

Roll on the day when I discover a trading strategy that works! (I have asked Santa for one but don't hold out much hope!)

Seasons Greetings to all

Carl

Which pair(s) do you trade?

 

[fxreal]

anyone that does not considered a depth of a sea before jumping in it without adequate swiming skill is a feed for the shark...........let who cares let learn together forex is an ocean where true treasure hide so let search it out...merry xmas to you all.peace

 

[carlgreen]

Alan5616....Any pair that I can lose money on!

fxreal......I knew a bloke who could walk on water.....why can't i do the same!

All joking aside, Thanks for all the help and support this site gives to a drowning man like me.
I hope this thread bought a little cheer to your day!

Carl

 

[Trader333]

anyone that does not considered a depth of a sea before jumping in it without adequate swiming skill is a feed for the shark

Why would being a good swimmer prevent you being eaten in shark infested waters ?


Paul

 

[Pippy5000]

I used to use that exact same joke when I first started..

Just find the major support and resistance lines and trade from there with small stop losses

i.e. if a pair stalls out at 1.999 short it at 1.999 and put your stop loss at 2.002 .. as soon as the trade creates +10 pips profit move your stop loss to breakeven and walk away from the computer.. You'll get stopped out a lot to break even but many times the trade will go and go and go in the direction you want..

I have negative days all the time and sometimes a negative week but never a negative month and that's all that matters.. Don't worry about your losses but whatever you do don't try to "get it all back" .. That's how you get wiped out and lose all your chances to become a good trader in the future.

 

[CIRCUIT]

Hi Carl,
My first trade yesterday in pairs, I fitted a stop at 50 pips, the trade was going well 35 pips, I decided to make some tea, when I came back half an hour later, I was stoped out. An hour or so later I looked again and it had down 100 pips, if only I had not been stoped out.
I am now looking for somebody or a company to manage my account.

 

[trader_dante]

i.e. if a pair stalls out at 1.999 short it at 1.999 and put your stop loss at 2.002 .. as soon as the trade creates +10 pips profit move your stop loss to breakeven and walk away from the computer..

Why move your stop to breakeven?

Why not just place the stop where the trade is wrong rather than where its "free"?

If you sell a resistance point at 1.999 and you believe it won't squeeze (or has done already) then 2.002 is wrong and perhaps +10 (or more depending on the next level) is RIGHT but what is breakeven apart from an emotional crutch?

Does your breakeven point mean anything to the market?

The day I stopped moving stops to breakeven was the start of the turnaround for me.

 

[alan5616]

Why move your stop to breakeven?

Why not just place the stop where the trade is wrong rather than where its "free"?

If you sell a resistance point at 1.999 and you believe it won't squeeze (or has done already) then 2.002 is wrong and perhaps +10 (or more depending on the next level) is RIGHT but what is breakeven apart from an emotional crutch?

Does your breakeven point mean anything to the market?

The day I stopped moving stops to breakeven was the start of the turnaround for me.

Trader_Dante. This is a priceless piece of advice. If readers of this thread take that pearl of wisdom on board, they're trading account will benefit greatly.

I was, once, one of the "move the stop to break even" culprits. I'm pleased to say that I learnt the error of my ways. It's a cardinal trading sin.

 

[carlgreen]

Hi Carl,
My first trade yesterday in pairs, I fitted a stop at 50 pips, the trade was going well 35 pips, I decided to make some tea, when I came back half an hour later, I was stoped out. An hour or so later I looked again and it had down 100 pips, if only I had not been stoped out.
I am now looking for somebody or a company to manage my account.

No problem, give me your money......I can lose it faster than that!

 

[Splitlink]

anyone that does not considered a depth of a sea before jumping in it without adequate swiming skill is a feed for the shark...........let who cares let learn together forex is an ocean where true treasure hide so let search it out...merry xmas to you all.peace

Tell me the depth of any sea in which one cannot drown! Some people have managed to drown in the bath.

At least, I have got out of the water until the New Year (I use a shower), so that makes me tranquil.

Merry Christmas and A Prosperous New Year to you all.

Split

 

[alan5616]

Alan5616....Any pair that I can lose money on!

fxreal......I knew a bloke who could walk on water.....why can't i do the same!

All joking aside, Thanks for all the help and support this site gives to a drowning man like me.
I hope this thread bought a little cheer to your day!

Carl

Hi Carl,

The thread did put a smile on my face; more of empathy than amusement. If it's any consolation, most of us have been there at some stage in our trading careers.

I suspect that your trading plan and methodology need a service, if not a rebuild

Good luck

 

[whatid]

Hi Everyone
If you want an absolute sure fire way to win in the Forex Market..........Just do the exact opposite of what I do!

If I go Long on a pair.......it Goes down.....
If I go Short on a pair.......it goes up!

Carl

I proposed the same to oanda's forum a couple of months ago and noone took me seriously. I do believe that doing the opposite of what a loser (like me and perhaps you) do is a sure way to win.
It's not about choosing the right direction. It's about fear and greεd. Ιt's about stop loss and take profit.
There is that thing I read somewhere: 2 people enter the same trade, one loses one wins.
It's about psycology. When I do the opposite of you, I am free of emotions.

I am seriously interested in co-operating with someone to do this. I live in europe.

 

[Pippy5000]

Dante,

It's an emotional issue for me to move the stop to breakeven. Once I know that I won't lose money I'm far more likely to avoid tampering with my trades and it isn't good for your body to be under constant stress. So I consider my tactic an investment into my health. I do see what your saying that mathematically it would be better to put the stop beyond the next strong support or resistance but I don't have any valium you see I make the majority of my living doing this and there's only so much fingernail-biting and hair-pulling I can do in a week. Also, if I hear "Your deal is confirmed" I'll go back in my office room and see if I can pick up the pair at a better price thereby increasing my profit potential. Riding bad trades never makes any sense. Why go negative when you can get out of the deal?

Also, would you not agree that a true breakout (with the majors) needs to exceed 20 pips beyond the resistance or support before being considered a real breakout? Any less and a pair might poke it's nose through before reversing and stop you out and anymore than that just adds to the loss. For instance, I find EUR/USD poking its nose through a r/s line by 10 or 15 pips all the time and then reversing in the direction I want. However, 20 or 25 pips beyond the r/s can cause gains/losses to accelerate quickly. So that's why I choose 30 ..

These last few weeks have not been an environment for big stop losses as well.. We keep seeing pairs blast through barriers at light speed.

 

[Pippy5000]

One more thing.. You guys may think it's a joke but finding out what losers are doing is a very effective strategy called "sentiment" .. If you see that 65% of retail traders are long it's almost a sure thing that you should be short. Why? Because the vast majority of retail traders are losing traders!

Look up "strategic sentiment index" on Google.. It actually works!

 

[gamma]

You lose, not because the market has taken the opposite direction to your trade but simply because you don't know how to trade.