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wackypete2
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I'm still short eurusd @ 1.1640 from Nov 2005, waiting for closing position.
UPDATE: ONLY 900 pips away now. Trade looking much better!
Peter
UPDATE: ONLY 900 pips away now. Trade looking much better!
Peter
gamma
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Yes hoggums! unfortunately I don't have a 100 % system so will probably continue getting them.
Ambrose Ackroyd
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This is a speeded up movie of Medbs' body language during his latest trade.
bbmac
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no way to trade
Lets take Medbs word for it that the gbpusd was a risky trade and he only leveraged at 3:1, and say the eurusd isn't a risky trade (because he said he wouldn't post the risky ones after that gbpusd one) so say 10:1 leverage on that
2665 long & 2595 long on the eurusd @ 10:1 = unrealised loss of 2665-2430-most recent low and 2595-2430 = 230pips and 165pis = -395pips, so at 10:1 leverage = 39.5% of account
5150 long gbpusd, current unrealised loss on trade = 650pips @ say 3:1 leverage = -19.5%on a/c,
So a total unrealised loss on a/c of -39.5% + -19.5% = -59% and '...waiting for a closing position..'
G/L
Lets take Medbs word for it that the gbpusd was a risky trade and he only leveraged at 3:1, and say the eurusd isn't a risky trade
2665 long & 2595 long on the eurusd @ 10:1 = unrealised loss of 2665-2430-most recent low and 2595-2430 = 230pips and 165pis = -395pips, so at 10:1 leverage = 39.5% of account
5150 long gbpusd, current unrealised loss on trade = 650pips @ say 3:1 leverage = -19.5%on a/c,
So a total unrealised loss on a/c of -39.5% + -19.5% = -59% and '...waiting for a closing position..'
G/L
There are some serious idiots here at T2W... Seriously, this one thread alone proves that most of you are complete and utter morons.
The guy says wait until the end of May before you criticise. Here we are, the 14th of May and already more than 40 pages of complete tripe from a group of so called traders. I suspect the majority of you aren't even profitable yourselves.
I don't buy into a 100% success rate over any decent amount of time but if he makes more than 100% of his account and cashes it out before his balance goes bust then he is already ahead of most of you.
And, Gamma and co. how the f*ck do you know he's gonna get a margin call? Really? How do you know? Enlighten me as to what leverage he is using on these trades and what his account size is you trading guru you.
I used to have quite a lot of respect for several of you but in reality you are all just jumping on the bullying bandwagon when you don't actually know anything. I mean, you can't know anything about this guys money management and trade strategy because he hasn't told you.
And please, feel free to all start digging at me... I'm not profitable and don't claim to be. I am however intelligent enough to know that every single one of you who has posted slating this guy are nothing more than jumped up, condescending bullies who have nothing better to do with their time than berate someone on an online message board.
The guy says wait until the end of May before you criticise. Here we are, the 14th of May and already more than 40 pages of complete tripe from a group of so called traders. I suspect the majority of you aren't even profitable yourselves.
I don't buy into a 100% success rate over any decent amount of time but if he makes more than 100% of his account and cashes it out before his balance goes bust then he is already ahead of most of you.
And, Gamma and co. how the f*ck do you know he's gonna get a margin call? Really? How do you know? Enlighten me as to what leverage he is using on these trades and what his account size is you trading guru you.
I used to have quite a lot of respect for several of you but in reality you are all just jumping on the bullying bandwagon when you don't actually know anything. I mean, you can't know anything about this guys money management and trade strategy because he hasn't told you.
And please, feel free to all start digging at me... I'm not profitable and don't claim to be. I am however intelligent enough to know that every single one of you who has posted slating this guy are nothing more than jumped up, condescending bullies who have nothing better to do with their time than berate someone on an online message board.
new_trader
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gamma
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Liam,
This thread has been an invaluable education in how not to trade.
If you need an explaination on why he probably got a margin call, please read the post above yours.
Yes I know, there has been a lot of jocularity about the thread however, there have been some insightful posts about it as well, which have been very educational.
Ask youself the question "would you let a position go offside by 500 /600 points and add to losing trades?
And not all of us sit here posting have nothing else to do, a lot of us are position traders and are on this forum to pass the time, and yes we might have something of value to impart from time to time
http://www.trade2win.com/boards/general-trading-chat/71866-heads-up-etx-100-quid-16.html#post915978
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I understand the maths behind your assumptions. My point is that they are assumptions and nothing more.
You guys should stop derailing this thread when the op clearly told you not to criticise until the end of May. It is not the end of May yet.
Gamma,
No, I wouldn't allow a trade to go that far offside and neither would you clearly but what you or I would do is completely irrelevant. I am well aware of your ability to trade and a few others who have played a part in derailing this thread - Like I said, I used to respect your opinions.
The op made it clear what his intentions were and what he wanted the readers of his journal to do. Not one of you has respected his intentions or wishes.
You do not know that this is a lesson in how not to trade because you do not know how he trades. If he position trades with tiny leverage on a 50K account he won't get margin called for a position that is 500-600 pips off side.
And besides, if his risk tolerance and trade strategy allow him to trade this way then the only thing that matters is that in the long run he makes more than he loses.
Who the hell are you or anyone else on this forum to tell him that it is wrong or can't be done?
Yes, it isn't a strategy most would be comfortable with but so what? It's his strategy and clearly he is comfortable with it.
The educational posts you mention are educational but they're in the wrong place for the wrong reasons.
No, I wouldn't allow a trade to go that far offside and neither would you clearly but what you or I would do is completely irrelevant. I am well aware of your ability to trade and a few others who have played a part in derailing this thread - Like I said, I used to respect your opinions.
The op made it clear what his intentions were and what he wanted the readers of his journal to do. Not one of you has respected his intentions or wishes.
You do not know that this is a lesson in how not to trade because you do not know how he trades. If he position trades with tiny leverage on a 50K account he won't get margin called for a position that is 500-600 pips off side.
And besides, if his risk tolerance and trade strategy allow him to trade this way then the only thing that matters is that in the long run he makes more than he loses.
Who the hell are you or anyone else on this forum to tell him that it is wrong or can't be done?
Yes, it isn't a strategy most would be comfortable with but so what? It's his strategy and clearly he is comfortable with it.
The educational posts you mention are educational but they're in the wrong place for the wrong reasons.
jazzidee
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I guess that speaks for itself. You are not profitable so that's why you don't bash this clown in. Therefore, people who are profitable make it their second job to belittle this clown into oblivion so people like you won't fall into his trap(seems you have already). We don't relate to him so we are not going to defend(birds of a feather flock together). Why should we wait until the end of may? Because he said so? He has already failed and as the saying goes, you reap what you sow. Great minds think alike but I guess dumb ones do as well.
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gamma
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Fair points Liam and taken aboard
I think LM tried to segrate the thread and did request that posts should be limited by others to the discussion thread.
Being guilty of this I can only apologise to the OP .There will be no more posts from me on this thread.
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I guess that speaks for itself. You are not profitable so that's why you don't bash this clown in. Therefore, people who are profitable make it their second job to belittle this clown into oblivion so people like you won't fall into his trap(seems you have already). We don't relate to him so we are not going to defend(birds of a feather flock together). Why should we wait until the end of may? Because he said so? He has already failed and as the saying goes, you reap what you sow. Great minds think alike but I guess dumb ones do as well.
I haven't fallen for anything. You think that because I'm not profitable I'm an idiot? You completely missed the point of my posts.
jazzidee
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I'm not calling you an idiot for being unprofitable...That's an idiotic conclusion. You are the one that mentioned most of us are "complete and utter morons" because we didn't wait until the end of May to give our opinions. Just clearing up your opague statements.
I'm not going to get in to an argument with you and further derail this thread. You made the assumption that I've fallen for this strategy, you then went on to say that dumb minds think alike implying that I'm dumb. You're basing this on what? My comments on this thread?
I asked valid questions in my posts, give me reasonable and valid answers or keep your thoughts to yourself because you'll only make yourself look stupid.
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