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  • #46
    Originally posted by FX Pendulum View Post
    The money management mindset of 95%....
    Hi all,
    I was thinking about sharing something about the greed and fear. I't is in mine opinion one of the biggest discussions in forex and trading at all.
    Well I would like to share you guys a story of a man, who inspired me.

    This man was for me the psychological guru of the universe. Cold as ice, hot as fire.. still a human being.
    Money management is a word very often unknown. People are trading and trading, sometimes making millions of profits. But then that one moment..
    an unexpected happening the world, or a total economic meltdown.. And pooooooffff.... al the millions and all the money was gone. Lukcy whise for that person, the money was only worth some paper for heating the house. I'ts 1929.. right now I am talking about a true story, told by mine grandfather.

    He knew a trader, he was not awesome, but he was god itselfs. It was a true money machine. Everybody was betting on him and he rarely lost. The word MM was never noticed in his dictionary. What did he wrong.. well.. nothing.. Still he lost all his money. On the big inflation run in germany 1929. The greed stalled in his mind. He never bought any single car, house, or even a luxury sandwich. Well, if he wasn't that greedy, then he had at least left his house, car, some food , and even his wife.

    What i am trying to say is. It better to live poor.. then to die rich.

    Then i was thinking about this story. . . and i saw a guy trading as well. I knew him very well.
    He bought some shares. He was in big profit big time.
    Still he didn't sold the shares, he told me.. if i sell it, i can't get more profit, and then i don't know what to trade.

    Well guess what happened.. The stocks tumbled down, as snow melts before a hot sun. he was now - 5% .. i asked him again, why you don't sell the shares ?
    Then he told me.. OMG are you crazy. why i should take a -5% loss if i was in profit almost all the time.. The shares will defiantly going up. Well I asked him,
    Can you live with it, if the company goes broke and you don't have any penny left ? He told me, NO of course not, but it won't happen. It will go back up and I will make profit as soon as possible.

    Well guess what happened ..? It went up, back to the break even point. Some traders where speculating on another company which was thinking about to do a fusion.
    Well.. I asked him again? Why you don't sell you're shares ? He answered : Well, you see what happened.. it went up.. now i will get in profit big time. So no.. i am not going to sell it.

    I told him that it would be better for him if you he would sell the share due the fact, that company was a risk fully investment. He should better look to other company's which don't have that high risk exposure ! .
    He told me that he could not make any money from those, Well i told him it is possible but not that much as you will now.. IF you will make any !

    Well, 1 month later, the company went broke.. and he lost all his money.
    Then he came to me and asked me.. What i' had to do then? I told him 2 words: Sell The Shares!
    Never heard anything anymore from him !

    Then i met another guy.. he was buying on the highs.. in the mindset of .. it will go up more.. and more..
    And i saw him selling on the lows.. well... it maybe could drop further.. and I'm afraid of losing more. Well in that case. he was in my opinion a good trader. Just he had one problem..

    He knew exactly what he was offering to loose, which is good, but he had just 1 problem.. Guess what ? Patience.. He didn't had any. If the share was moving up.. he could not wait till it retraces and went into the market as soon as was possible. Well also he broke his account after 2 years.

    So now we've met 2 kinds of traders.. One which is to greedy, One who's got no patience.. and guess what would be the last one. Well, the one who has to much fear:

    Also this guy i met. He was a trader with lot of patience and he was not greedy. That was actually also a bit the problem, once he entered a trade, he couldn't go away from his computer. He was so afraid for losing some money. and yes, once it was like 1 or maybe 2 % down. he closed because he could't handle it anymore.
    Also he broked up his account in 1,5 year.

    What did i learned from this.. Well i noticed, all traders didn't had an actually trading plan.
    They all wanted to make profits and money, but without that plan , they couldn't believe in something how to do it. so the Fear, patience and greed factors killed those traders.

    Then i started to make a plan, where my strategy should be implied in. Well that worked out not that easy. I started to have the same problems as those other 3 traders. So i started to just put up everything on paper. And learned myself to stick to it. How to do it ? Well, it helps to have a 3e person view on it, or somebody who's supporting you, or maybe doing some punishments. Like , turning of the computer for 1 week if i don't stick to the plan. And then it helps if a 3e person change the password

    Well, in my plan its the -15% which will do it.. and all the other entry points which i assumed in my webinar.
    IF one of those factors don't met with the actual price. Then i will stay out of the market.
    And i learned.. its better to have -15% then blown up the entire account.. $$ makes $$ as long you have buying power. you can make money.

    Well,
    For more information:
    Fx Pendulum,
    Find me on Skype : appybaboon.

    I hope you guys enjoyed my story about FnG button

    Comment


    • #47
      Best Waleed,
      For me this is the best strategy, in this case i have a range over 500 pips without losing anything.
      And i learned throughout the time, a lot of small trades makes also 1 big.

      Well the hedges are simply placed due the fact were still in an uptrend as i assumed already yesterday.
      We had today actually a very nice run. We had some nice closes and pips on the short side in the afternoon, and then it moved str8t up to close some hedges as well in profit.
      Right now the DD is a bit deeper, but we have already also made a lot of money. i am last 2 weeks 83$ up. and this will be only getting more as long the GU stays bouncing in a slightly uptrend. That profit is just made by closing and running the re-entry's
      have runned the 1.5380 4 times and i am now running it the 5e time.
      The 1.54 and 1.5420 also runned already in profit. THe hedges on the 1.54 are already closed, and now i run the hedge on the 1.5420 so i don't have to renege on the 1.54 mark.
      The more we go up , the more the lot size will increase.. but it goes very slight.. after we reach the 0.19 lot size it will going faster..

      The range is up to 1.56.. and i may go up till 1.5750
      then i will close the Drawdown.. it could be -12 , - 14 % but then we should have already made + 10% at least.. ( This is worst worst worst worst case scenario . ) best case scenario is the price will move 60 pips back .. and close the entire basket and we can smile with some tasty profits

      Comment


      • #48
        Originally posted by FX Pendulum View Post
        Best Waleed,
        For me this is the best strategy, in this case i have a range over 500 pips without losing anything.
        And i learned throughout the time, a lot of small trades makes also 1 big.

        Well the hedges are simply placed due the fact were still in an uptrend as i assumed already yesterday.
        We had today actually a very nice run. We had some nice closes and pips on the short side in the afternoon, and then it moved str8t up to close some hedges as well in profit.
        Right now the DD is a bit deeper, but we have already also made a lot of money. i am last 2 weeks 83$ up. and this will be only getting more as long the GU stays bouncing in a slightly uptrend. That profit is just made by closing and running the re-entry's
        have runned the 1.5380 4 times and i am now running it the 5e time.
        The 1.54 and 1.5420 also runned already in profit. THe hedges on the 1.54 are already closed, and now i run the hedge on the 1.5420 so i don't have to renege on the 1.54 mark.
        The more we go up , the more the lot size will increase.. but it goes very slight.. after we reach the 0.19 lot size it will going faster..

        The range is up to 1.56.. and i may go up till 1.5750
        then i will close the Drawdown.. it could be -12 , - 14 % but then we should have already made + 10% at least.. ( This is worst worst worst worst case scenario . ) best case scenario is the price will move 60 pips back .. and close the entire basket and we can smile with some tasty profits
        Thanks for your feedback, I noticed also the 80k account shows 0.01 size, its part of the strategy to start off with 0.01.
        I also asked because Nick stated you live off your trading strategy, I know it's a personal thing but I just wondered how you can live off if most of the trades are 0.01.

        Thanks Albert,

        Waleed

        Comment


        • #49
          Hey guys,

          Just letting you know that I've changed my money management to a Lot Multiplier of 1.

          Because my account is half the size of the master this has the same effect as running at double risk.

          People following this signal should use the Lot Multiplier rather than the Risk Multiplier to get comparable results.
          Click here to check out the most popular forex channel on YouTube

          Comment


          • #50
            Originally posted by Nick View Post
            Hey guys,

            Just letting you know that I've changed my money management to a Lot Multiplier of 1.

            Because my account is half the size of the master this has the same effect as running at double risk.

            People following this signal should use the Lot Multiplier rather than the Risk Multiplier to get comparable results.
            Good to hear this. My risk multiplier is set to 1x and the lot sizes are just the same as the master account. What should I set in the Lot Multiplier?

            Comment


            • #51
              Originally posted by Zoli71 View Post
              Good to hear this. My risk multiplier is set to 1x and the lot sizes are just the same as the master account. What should I set in the Lot Multiplier?
              For every $5,000 in your account you should increase your lot multiplier by 1.

              So for $15k it should be 3

              $2,500 it should be 0.5.
              Click here to check out the most popular forex channel on YouTube

              Comment


              • #52
                Trading Update July, preview upcoming August.

                Dear Traders and followers

                This is FX pendulum, I First want to say thank you for all the trustfully followers which i have received in the first 2 weeks since i am live !
                I can guarentee you that also for me, is a good way of selftrust, and it makes me more carefull to enter the trades.
                So i very appreciating that ! .

                Well, What happened the last month, July. As you all can see, I close the month in a bit more loss then 10%. But this isn't a loss to me.
                Due the fact i closed the basked of trades in July, just before i went on vacation, i had to take the 15% loss. Normally i would had hedged it, and closed later in profit when USD/JPY came from 101.20 to 98.00 aigain.

                Anyway The basked was still filled from may and June, those months ended way high in profit. Right now i am about 92% in profit, ( included the calculated loss from the broker issue which is refunded and showed as '' Deposit '' )

                anyway, for Liveforextrading.info I have only 1 goal. To maintain sustainbility and keep getting the profits in.

                FX pendulum went live on 16e July 2013.
                Well, right now i managed to make around 126$ in profit since that date, Nick followed the first basket of trades on 1/2 of lot size. Thats why he is only 65$ up right now. Still.. It where some quiet weeks. Once upon a time, were getting in digged in a deep basket of trades, and then we will problaby get a good month. In this case you can easily expect 10 maybe 15% profit.

                As i already assumed, i won't go off from my tradeplan, thats also the reason why i won't enter the trade if i dont feel confortable with it ! It makes no sense to trade aigainst your own idea and methodology.

                FX Pendulum, For what signal are you waiting at the moment ?
                Well, yesterday we had aigain a very good entry on the USD/JPY. THe entry was 97.80. I entered a TP on 98.20 before i went to sleep to insure my profits. Everything went fine. During the night it hittet his TP. Which was good for some small profits. But like you already can see, a lot of small profits, makes 1 big.

                Right now i am waiting for the Re- entry on 97.80. The entire basket below that point has a range of 450 pips till 93.30. With hedges ofcourse. So this means that i can make some good money on this trades. It's maybe possible that i will run the hedges on the correlation of another pair. problaby EUR/JPY.

                Then we have another entry, that on the SHORT side of the USD/JPY, holding the pending entry on 101.70. dont know sure out of my head. With basked range up to 500 pips to 106.90. Also hedged on correlation of EUR/JPY ( its right now on 81% correlation on USD/JPY on daily chart )
                Could change a couple of % every day but i dont expect to much differences.

                Then we have another setup running on the GBP/USD: This setup is as far as i can see only on the short side, due the fact it made a clear high on 1.5440. The Pending short is enter on this level. With a range up to 600 pips. till 1.60 and that is btw also the SL level for that basket.

                I may looking for a buy entry on the GBP/USD. but as far as i can see, i have no confirmed signal there. The first signal would be around 1.4860. So thats still far away from where we at, at this moment.

                If you have more questions, Dont hestitstate to ask me.
                I'm aiming for 500$ in the month of august. I will set this also in Myfxbook.

                I really like to hear from my followers in comments below, about experiences so far with me,
                And sharing idea's with me. ( i will not change tradeplan ) but feedback is always welcome.

                A special service from me, ONLY followers can add me to skype and talk to me personally. If you would like to do that ?!
                add me on skype: appybaboon ( it was previous nickname out of the past ) sorry for that !

                Furthermore, I hope Nick is editing the webinair to a shorter and more compatible version, but i really can recommend to watch the webinar. ( just skip the technical issues ) if you would like to get more information about my strategy and about myself!

                Best regards,
                FX pendulum..

                Comment


                • #53
                  Are you still doing basket trading as I saw you have been just trading directional trades

                  Comment


                  • #54
                    Originally posted by malmillions View Post
                    Are you still doing basket trading as I saw you have been just trading directional trades
                    Yes, but the entry i did yesterday was actual the first entry of the entire basket. but the basket was not needed anymore due the fact it went right into the trade direction.

                    Comment


                    • #55
                      Originally posted by FX Pendulum View Post
                      Yes, but the entry i did yesterday was actual the first entry of the entire basket. but the basket was not needed anymore due the fact it went right into the trade direction.
                      Hi Albert,

                      At time of writing you have no open trades I believe.... however I understand your strategy and respect it, consistent gains steadily without fear/greed as your motto.... However I have lost alot of money with another signal before even coming here @LiveForexTrading.info.

                      0.01K would be very slow for my recovery, what would you suggest I change? Lot Multipler ?

                      I notice that you open higher positions but only when the timing is right (going to low or going too high in the position) however this seems rare judging by looking at myfxbook your 80k account. I'm a follower to your signal and believe I can make consistent returns but I need to do it at a little bit of a higher pace rather than slow pace to recover my major losses before I joined here.

                      Please suggest what I can do. I appreciate it :-)

                      Comment


                      • #56
                        Originally posted by Waleed121 View Post
                        Hi Albert,

                        At time of writing you have no open trades I believe.... however I understand your strategy and respect it, consistent gains steadily without fear/greed as your motto.... However I have lost alot of money with another signal before even coming here @LiveForexTrading.info.

                        0.01K would be very slow for my recovery, what would you suggest I change? Lot Multipler ?

                        I notice that you open higher positions but only when the timing is right (going to low or going too high in the position) however this seems rare judging by looking at myfxbook your 80k account. I'm a follower to your signal and believe I can make consistent returns but I need to do it at a little bit of a higher pace rather than slow pace to recover my major losses before I joined here.

                        Please suggest what I can do. I appreciate it :-)
                        First of all would i like to know what your balance is.
                        Then i need to know with the drawdown you are still comfortable with.
                        Then i need to know how much risk in $ you are willing to take.
                        Then i need to know how much Fear and greed factor you have .. which mean, What profits are you aiming for, for what level of risk.
                        If you can answer me these questions. Then i will give you a very proper answer to your inquiry.
                        I only want for every person the best personal settings who my followers are comfortable with.

                        The thing is, i want sustainebilleity for everyone., For some people is this a bit more aggressive, for other a bit less, .. Still i can almost promise, in the long run you will make consistent profits.

                        Waleed, i really enjoy your excitements, but plzz try to answer me the question as fair as possible and be honest to yourself ! Then i can help you with further support and we'll get to a solution for sure.

                        I am right now 126$ up since going live here.
                        Best regards,
                        Albert, FX pendulum

                        Comment


                        • #57

                          Comment


                          • #58
                            Best Waleed,

                            If i really should be honest to you, and you should also really read your answer by yourself.
                            But i would let the settings just 1-1. Which means.. if i do 0.01 you do 0.01, if i do 0.04 you do 0.04. Because, as you already said, you have an account of 1900GBP which is approx, a bit more then 2.500USD, i wouldnt suggest to set the risk higher.

                            Until now we didnt came far into the basket.. But once were a bit deeper in, you will see that you will need the money to stay in the float.
                            I would suggest to hold the steady and slow growth of the account.
                            Getting a quick recovery is getting difficult. From the moment you are at 3000 GBP, you could do the lot mulitplyer by 1.5 or maybe 2. But untill then.. I wont do that ! To be honest.

                            As far as i can see are all the charts trading exactly in the middle of all baskets so no trade will get opened. This can change very quick ofcourse today after NFP.

                            Have a nice day,
                            Regards
                            FX pendulum, Albert

                            Comment


                            • #59
                              Originally posted by FX Pendulum View Post
                              Best Waleed,

                              If i really should be honest to you, and you should also really read your answer by yourself.
                              But i would let the settings just 1-1. Which means.. if i do 0.01 you do 0.01, if i do 0.04 you do 0.04. Because, as you already said, you have an account of 1900GBP which is approx, a bit more then 2.500USD, i wouldnt suggest to set the risk higher.

                              Until now we didnt came far into the basket.. But once were a bit deeper in, you will see that you will need the money to stay in the float.
                              I would suggest to hold the steady and slow growth of the account.
                              Getting a quick recovery is getting difficult. From the moment you are at 3000 GBP, you could do the lot mulitplyer by 1.5 or maybe 2. But untill then.. I wont do that ! To be honest.

                              As far as i can see are all the charts trading exactly in the middle of all baskets so no trade will get opened. This can change very quick ofcourse today after NFP.

                              Have a nice day,
                              Regards
                              FX pendulum, Albert
                              hi Albert,

                              Thank you for your recommendation, I will stick to your suggestion, I will add you on Skype when I get the chance. Many Thanks.

                              Waleed

                              Comment


                              • #60
                                Hi guys, a short update from me, were still trading exactly in the middle of all baskets. Uj was almost there this morning but it recovered gbp usd was also almost there to hit the sell signal basket . In will keep updating
                                Many greetz
                                Fx pendulum


                                Edit : were in the trade .. Decider to go
                                In 50 pips earlyer but the hedges are also moved up to ensure the profits.
                                Well... Happy trading .. And let the baskets run.
                                It could be possible that gbp/usd wil also hit his basket.
                                I will inform you guys asap what i am
                                Willing deeper into basket. It depends movements on both pairs . Wish you all the best
                                For all followers... Dont take to high risk. Ask first
                                To yourself what you guys are willing
                                To loose .. I cut of def. At -15,01% !
                                Best regards
                                FX Pendulum
                                Last edited by FX Pendulum ; 08-05-2013, 09:14 PM.

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