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  • Originally posted by oportunis View Post
    Ryan
    Senior Member
    Ryan is the simpletrader EA connected OK? I noticed there are 2 trades opened at the same time. This is the first time I see this, so just checking if this is OK?
    Yes, this is correct. I accidentally entered 0.04 pending order when I meant 0.08. So I placed two 0.04 lot trades at the same time.

    Comment


    • So here we are...

      DD right now at about -2%. Not crazy bad yet but I thought I would update.

      The EU is what's causing most of our DD right now. The pair has pushed down 150 pips with almost no retracement or pullback yet. I'm expecting something soon but we just have to wait it out.

      This is what's in right now.

      I have 5 counter-trend trades on the EU.
      I have 1 counter-trend trade on EJ
      I have 1 trend trade in on the ACAD

      Trends continue to be strong on most pairs. We're in our 2nd week of heavy trending now. The phase is likely limited but could go on for some time more.

      Comment


      • I thought I would post again...

        Some really strange stuff going on here guys. The EURO is gaining value on pretty much all pairs besides the EU. The USD strength continues even with the FOMC minutes holding off on the rate hike this month which is strange to me. Because the EURO is moving up on the crosses I believe it's only a matter of time before the EU fallows. The EU is late to the playing field on moving up but it should join the others before long....that is if the EURO crosses continue to push up.

        Hold tight guys. Right now pair correlations are off but eventually they will get back on.

        Comment


        • So, still in DD here. I had a chance to close my EU trades out at break even but decided to hold a bit longer. I was looking for only about 10 pips more before I closed. The EU just never went the extra 10 pips before reversing.

          Fortunately, we've been profiting while waiting for these EU trades to close out. So far profit this week is 0.7%

          We still have a good amount of margin to take more trades on the EU. Things are not bad yet. I know the wait has been long for these EU trades but I still feel a larger retracement is still in the EU's agenda.

          So mean while, I'm in on the AUDUSD. Since I'm selling the USD on my EU trades and buying the USD on my AU trades...The AU should act as a small hedge for my EU trades in general....Especially during this somewhat heavy USD news day.

          Lets see what happens news wise the rest of the day.

          Comment


          • Time for another update....

            The EU has been very flat this week so far. The support at 1.10000 is very strong and continues to hold.

            The USD has been losing value on most crosses but continues to hold on the EU for some reason. I do feel the EU will fallow it's crosses sometime this week and we'll see it push up. If it does push up I think it will be in a big way.

            The strange market behavior continues...

            My UJ hedge has even moved down in a pretty big way while the EU continues to lag behind. The EU's time at 1.1 is limited. If the EURO has even the slightest of good fundamental news later this week it will fallow it's crosses.

            Keep you're eyes on the ECB press conference tomorrow as this will be a make or break point for EU on recovery.

            Comment


            • Hi Ryan,(please see attachment)

              I don't know if this analysis would be of any help but I thought I would share it.

              I have just noticed a potential bearish breakout on the weekly. A powerful bearish candle formed last week smashing through what I consider a good trend line (trend line 1).

              As a speculator I think there's a couple of possibilities

              1) there could be an upward retracement and price could move back up towards trendline 1 whereby trendline 1 becomes Resistance and then price moves back down.

              Or

              2) last weeks candle could be the start of a strong downwards breakout towards TrendLine 2.

              Hope this helps.



              EURUSDWeekly.png
              Balboa
              Senior Member
              Last edited by Balboa; 10-19-2016, 11:38 AM.

              Comment


              • Now I just closed out my EU trades at -5.6%. Sad day but necessary as I think the EURO has more to fall.

                Looking ahead I will be taking trades with he trend for the time being as trends are just to strong. Especially on the majors.

                Now...
                I just took another trade with the ECAD trend. My first is already in 40 pips profit. Right now my first trade is looking for about 95 pips TP. I just placed a 2nd trade with 65 pips TP. The difference of the 2nd trade is it's at 12x higher risk. I will have the same cut off here at -7% for this trade. I don't have a lot of wiggle room here but I expect the EURO will fall more.

                This is a one time thing on the ECAD whether it results in profit or loss. I'm in for the ride. If we hit profit here we will come out with 4-5% profit. If it's a loss....no more then -7%

                After this trade is done we will go back to standard risk.

                Comment


                • Hmm, I see this EURCAD as revenge trading. This is not good. You just made loss and now you raised lots hoping you can get it back. Usually this ends with even more loss. And you are making loss on top of the loss on top of the loss... For you this might be only -7% since you started in April, but for the rest who started following you will be about 20% loss and this is too big for such a "low" risk system...
                  oportunis
                  Senior Member
                  Last edited by oportunis; 10-20-2016, 03:13 PM.

                  Comment


                  • Ryan one point...
                    you opened 0.5 lot on 7k master account - your choice.
                    but it translates into 3 lot account on 8k MAMM account... I think you should take your time and rethink trading and delivered results.

                    remember that those are hard earn peoples money.
                    sorry to say but its CRAZY having 3 lot on 8k acc...(4.2 lot including other trades).

                    you just hit DD and willing to get another -7% hit if ECAD will turn...

                    Comment


                    • I'm unsubscribed and deleted

                      Comment


                      • I also decided not to follow. Even if you make profit on those trades it is not rational for me to risk so much on one trade idea. Wish best of luck to everyone, hopefully you get out with profit and reduce loss.

                        Comment


                        • Hi ryan. Good that you're keeping at it. Never give up.

                          Just to share, every loss needs time & reflection. If you don't do this, the opportunity will pass and you won't get another chance till your next loss. Till then, I'll never stop rooting for you.

                          Comment


                          • FanFocusATgmailCOM
                            Senior Member
                            FanFocusATgmailCOM This is really bad advice you just shared. Forex is the market where you always get the next opportunity. You have to select the trade that is in line with your trading strategy and stick to your rules. If the opportunity pasess, you move on to next one and never force trade or revenge trade no matter how much it hurts... There will be plenty of opportunity, main goal is to perserve capital and stay in game for the long run.

                            Comment


                            • oportunis
                              Senior Member
                              oportunis his advice was good. Each big loss hit should be evaluated... if you dont analyze the reason why it happened you wont have another chance to get a feedback from that learning. simple.
                              ofc there is always many lossing oportunities but i think its about feedback / adjust strategy to not make the mistake again.

                              Comment


                              • Ok. guys I expected these types of comments to come in and the un-subscriptions as well.

                                I'm ok with this. I will admit.... this seems like revenge trading but you guys know...I'm not an irrational trader. We all need a recovery plan after a loss right? This was part of my recovery.

                                I did end up closing out the ECAD trade because it was taking a bit to much time to move at this risk level. I also saw some possibility for a retracement on all EURO pairs right now. It wouldn't be wise for me to carry this ECAD trade for the long period when the technical side of things are showing a possible retracement.

                                I did not close this trade based on the comments here. You can call this a revenge trade if you so please but you know I open and close my trades for a reason. I saw a good opportunity for the EURO to continue falling today. I didn't happen....At least not yet.

                                Standard risk is in play now.

                                Comment

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