Lost half of my years salary in a week!

Quote from TradeViper:



mp I don't think there is anger, just indignation from some pros, and others who care about other people. Your stops/drawdowns are ridiculous. And don't talk about trading style, this has nothing to do with trading style, it has to do with trading knowledge, and ability. If you where talking about $200 on a 12k account OK, but 4 lots, 200 pip drawdown, please. An 8k drawdown that has to be overcome before being profitable. I am not a gambler, but what you do sounds like gambling to me. This market, as it is, will not support this kind of trading, as the 100pip stop crowd are now finding out.

The Ever Indignant VIPER


strangely indignant one, youre one of the first to make some sense and to state the truth in your analysis of the legal situation -- my hat is off to you especially as no power of attorney was ever created or signed by anyone !

and while i applaud your thought processes, you trade your way and i shall trade mine, especially as his account was running way more than its needed margin percentage and i was not using stops, but rather waiting out the storm. Also allow me to point out that 4 lots down 100 pips IS NOT 400 pips down, but 4 LOTS down 100 pips, which means it only has to come back 100 PIPS to break even --- im sorry, but its not necessary to do 800 pips as you state, and so you can see why I had no concern in the least as the currencies in question can and do routinely make 100 pip moves daily !

obviously you dont agree, and while the problems went further than i was thinking they would go, I was a little busy on the phone with FXDD trying to get to the bottom of why the equity kept disappearing, to which no satisfactory answer has yet been produced !

Disagree as you will, but with the equity he had, everything would have worked, although it sure could have gotten pretty rocky for a while.

I refuse to get into a "spitting" contest with another trader(well, i chose a word that could be used on a family forumn), but I was hunkered down for the storm and not selling --- perhaps you dont like that much of a drawdown, but it works in practice constantly and the resultant uptrend invariably makes it all worthwhile IN THE END, although it looks like hell in the short term -- just examine what the currencies are capable of doing vis a vis their daily pip moves and while you may disagree with the strategy, you can see how easily profit could be produced IN THE END TERM !

aside from all the gibberish that has been posted, I thank you for breathing at least some truth into the conversation --- its been hard to find that thought process for a while here !
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Quote from mparkernys:
...and while i applaud your thought processes, you trade your way and i shall trade mine, especially as his account was running way more than its needed margin percentage and i was not using stops, but rather waiting out the storm...
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I thought you said FX is sooooooooo predictable, you can cry your way to the bank. Then why a 100pip draw down? won't it be better to go the other direction for a 100pip profit first, if you could "predict" it. LOL.

you can trade anyway you like. But having a draw down so severe that you require an infusion of capital is reckless and irresponsible gambling, not trading.

If you want to ride the storm the way you do, then you shouldn't be trading so many lots. If you had carried 1/4 of the positions, you would still be making plenty of money and laughing all the way to the bank.

You have no knowledge or experience in money management. Period.
 
Quote from mparkernys:
Disagree as you will, but with the equity he had, everything would have worked, although it sure could have gotten pretty rocky for a while.
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You don't think blowing out a $10,000 account in a few days is "pretty rocky"? :eek:

devine.jpg

mparkernys's ( aka MP6140 ) trading style
 
More fun than a barrel o' monkeys.
Gotta luv ET... :p
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Indeed. What a hoot. 'Specially after the actual scammer showed up, all indignant and shite.

Really, sorry for the OP's loss and so on, but I think the entertainment value that this has provided for ET members was well-worth the 10K.

H
 
is it 100 % fishy still about the 2 trades being off? Off in the way it would of been impossible to place? I don't know why the tech support guy at FXDD couldn't just humor me a little bit about the errors or explain that there was none when i called... just told me they took like an hour between him and his partner and everything was alright...than went ahead and said "i even credited you 100 dollars because I felt sorry..."
 
GEE PEOPLES,

those who dont know that a downslide exhausts, and could not see it after bernakie spoke and there was no reaction --- those who could not comprehend how the market psychology works and remain stuck using tech analysis that is pretty basic at its best, ought to take a good look at todays activity, which anyone could plainly see started a few days ago, albeit weakly !

I stated that NO ONE on this board would say, OK -- perhaps an unusual method, but obviously one that would have worked (as it is now for a few other (would you like to speak to them and get a differeng side of the discussion ?))

but "UN usual" simply means "NOT the usual" and day after day I prove, at the board I happen to live at, that the initials MP stand for the "unusual"

when someone wants to know if an equity will go positive, Im the one asked, during chat and by more PM's than i can answer in one day -- I have that honor because I am rarely wrong and the honor was given me by the group I moderate and not just assumed by myself !

YES indeed, I AM UNUSUAL --- and an awful lot of people have profited or been warned away from shady situations by that part of my character -- which was why the original poster, TOTALLY ON HIS OWN PART came to me for advice first, and then decided ON HIS OWN, based on my advice, to have me handle his account !

I have been villified and crucified on this board and I wont be around here much, as my only reason was to TRY to show the original poster that I was not a scammer ---- at this point, I shall rest my case, go back to trading my positions which I always knew would do exactly what they are now doing and laugh once again at the mob mentality and feeding frenzy that has been going on here for a few days !

to the original poster I will publicly state that I am so very sorry for what has gone on with losses, mistrust and this board and their highly debatable form of "democratic thought" and that I have repeatedly requested we talk ! I understand your fear and your loss, but do you now see why I myself was not afraid ?

This is the market and it works on both technical and psychological areas --- one must understand and read the psychology as well as being an expert at tech ----- my reputation in both remains unscathed !

Chris, I stand ready to talk with you once this furor dies down !

ENJOY MY FRIENDS, AND TRADE WELL -- I came here with clean hands, to explain that which could not be explained (and still is not) and I leave here knowing that my hands are still clean !

IT HAS BEEN A PLEASURE KNOWING YOU ALL !

mp
 
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