10 Pips Per Day - Everyday

Quote from rwk:


There was one somewhat interesting point on Bulkowski"s web site. He said that he was unable to find a shorting strategy that works even in a bear market. That doesn't mean that it cannot be done, but it also agrees with my experience.
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He was also talking about stocks... I cant see how anyone couldnt short the USDJPY down from 114.00 to 108.xx over the past few days...
 
Quote from giles117:

He was also talking about stocks... I cant see how anyone couldnt short the USDJPY down from 114.00 to 108.xx over the past few days...
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Hindsight is always 20/20 and should not be confused with a trading strategy that can bring in an average of 10 pips a day.
 
Quote from forex-forex:

Hindsight is always 20/20 and should not be confused with a trading strategy that can bring in an average of 10 pips a day.
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Hmmm, I could have sworn my statement was in response to the QUOTED statement in my reply. Yet you come out of left field with a totally irrelevant post. :)

Happy days.... Are hear again... LOL...
 
Quote from giles117:

Hmmm, I could have sworn my statement was in response to the QUOTED statement in my reply. Yet you come out of left field with a totally irrelevant post. :)
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My post is relevant. Everyone can look at charts to pick out trends and see what "would have" worked. But applying that to a successful trading strategy is the tricky part. We all have 20/20 hindsight.
 
Hmm, I never look at and pick what I could have done. At least not anymore..

I let my programmed systems alert me to setups and trades.

My point was this..... seeing that you STILL DONT GET IT...

The poster I was responding to made the following statement of the guy he referred us to...

He said that he was unable to find a shorting strategy that works even in a bear market.
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If you take my response in the context of that statement realizing I trade a strategy (as indicated in previous posts in THIS VERY THREAD!!!!) You'd have a clue. Your posts, again I assert, is irrelevant. My strat called that trade for me and I took that trade along with a few others I have not commented on....

SO to bottom line it for you, seeing that you have demonstrated a poor ability to read CLEARLY what others say before you offer your half-baked opinions, I was sinply stating in other words that.....

You CAN find a strat to help you trade FOREX in a bearish environment. What is Bullish for one currency is Bearish for another....
 
I apologize for antagonizing you. I have this very short fuse when people don't read in context.

Please accept my humble apologies for bringing you to this point in our dialogue. I'll work on my sarcastic and cynical ways.
 
Quote from giles117:
He was also talking about stocks... I cant see how anyone couldn't short the USDJPY down from 114.00 to 108.xx over the past few days...
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My bad... This is thread is part of the Forex Forum, and I neglected to make that distinction.

It is my impression that with forex it is as easy to go short as long. For that matter, isn't short USDJPY equivalent to long JPYUSD? The only difference is the base currency.

I believe financial futures work as well short as long too. With commodities though, it is possible to have shortages that tend to last longer than surpluses, so long strategies may work better especially for longer term traders. Stocks are a lot easier to short without the uptick rule, but there still must be borrowable shares. But I think the problems of shorting stocks profitably goes beyond the problem of executing the trade. I am primarily a stock trader, and I would like to find a good shorting strategy.
 
Quote from rwk:

It is my impression that with forex it is as easy to go short as long. For that matter, isn't short USDJPY equivalent to long JPYUSD? The only difference is the base currency.
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Yes, but the currencies are quoted as:
  • EUR/USD
  • USD/JPY
  • GBP/USD
  • USD/CHF
  • USD/CAD
  • EUR/JPY
  • AUD/USD
I have never seen JPY listed as the base currency with the USD, and the position would be considered short the USD/JPY.
 
Quote from jaronimo:

I have heard 90-95% of all traders fail. That number gets thrown around as if its gospel. I wonder if its true?
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I'd be more interested to know what percentages makes up the 100%, it would put the failure rate into perspective then.

I imagine the vast majority of (fx retail) traders are (and I'll try to be diplomatic here!) not suited to trading. If they weren't daytrading they would probably be playing the slots at some amusement arcade and looking for the jackpot!
 
I told this once already in another thread and will repeat here:

90, 95, or even 99% failure rate is GREAT news for serious trader, simply because it's a clear proof that trading is a serious and very profitable business and as such, only few can grasp it well...

If trading was such a piece of shit that say 50% would be able to profit from it, then watching and trading markets would not be worth of even buying internet connection. :)

In most "real sector" businesses it's considered OK that most who start, fail... In restaurant business the failure rate is very high for example... And everyone is OK with this idea, though restaurant business has far less profit and growth potential than trading...

But for some reason, unknown to me, here at ET I continue to meet people who seem to blame the trading for the fact that 90%+ people fail...
 
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