Oh the irony!! Isn't that how you made your big bucks? A lucky act of rage?
Do full-time forex traders exist or is it just make believe?
- Thread starter zbojnik
- Start date
Oh the irony!! Isn't that how you made your big bucks? A lucky act of rage?
And how long will you keep doing this should you run into a losing streak? Isn't that the real amount you're willing to lose?
How is your losing streak any different than mine? A major pair like EURUSD has a finite loss potential before some recovery. 600 pips per trade is my stop. $600 on one mini lot.
well, it wasn't a lucky act of rage, it was a trade I had been planning a long time
it's just I had to make a choice if I wanted to sit in my now lonely house and manage the trade, or put it all on, turn the computer off and go to Mexico with my new girlfriend
the new girlfriend didn't like trading and couldn't understand why we needed to postpone our trip a few months until this trade played out
and it had been a long time since I was getting screwed on a regular basis (other than in ES.)
you think if you deposit 1k at the bucket shop, that somehow miraculously you will know when to close out and take a profit
you call that a plan?
It's a plan if you are one of the best traders who ever lived like I was. It's a plan if you are smarter than everyone else.
Try going to the bank and asking for a loan telling them, "In 2012 I was very good at guessing where the bottom would be."
for that matter, try going to a reputable prop firm and telling them, "I am a good directional guesser." (I have charts and indicators.)
check out Geico or AIG, they have a plan, and it it isn't very exciting, and doesn't involve a lot of guessing
you call that a plan?
It's a plan if you are one of the best traders who ever lived like I was. It's a plan if you are smarter than everyone else.
Try going to the bank and asking for a loan telling them, "In 2012 I was very good at guessing where the bottom would be."
for that matter, try going to a reputable prop firm and telling them, "I am a good directional guesser." (I have charts and indicators.)
check out Geico or AIG, they have a plan, and it it isn't very exciting, and doesn't involve a lot of guessing
I think if you set a wide enough stop on a floating currency pair and you're patient you can choose any direction you want and there's a high probability it will go your way eventually.
You should do some calculations though if it's optimal usage of capital. May happen that taking some losses being cut short and riding winners, all on higher leverage eventually produces fatter bottom line.
One shouldn't be afraid of tactical retreats if they are part of the good plan, it's normal, not something going wrong. Strategy having 30% winning trades may have much better results than strategy having 99% winning trades, depending on details.