Official Forex Trading Chat Thread

[cman1787]

Thx man, just gettin started, i can see this being very intoxicating and addicting at the same time.

heres a couple threads i've been reading and learning from the most

http://forum.bodybuilding.com/showth...ght=jjam+forex

http://www.forexfactory.com/showthread.php?t=245149

[mase31683]

Been working really hard on a new trading plan. Testing it out and my god man I feel stupid for not using real money for the test now!

First traded opened on 4 Feb, and I'm up 9.38% already! What's crazy to me is I have 13 open positions, 12 of which are profitable, lol.

I'm trying to stay analytical about my trading plan, but it's hard not to be excited when seeing such results so quickly. This is my first time making position trades and I have to say I like it. Not just because I'm up a good chunk out the gate, but because there's less screen time necessary to manage your trades. Short term trades end up feeling much more like a job to me, constantly analyzing every tick.

Now I'm looking at daily, even weekly charts. Shortest time period is 4hr and even that's rare. Stay safe brahs!!!

[White-Belt]

Been working really hard on a new trading plan. Testing it out and my god man I feel stupid for not using real money for the test now!

First traded opened on 4 Feb, and I'm up 9.38% already! What's crazy to me is I have 13 open positions, 12 of which are profitable, lol.

I'm trying to stay analytical about my trading plan, but it's hard not to be excited when seeing such results so quickly. This is my first time making position trades and I have to say I like it. Not just because I'm up a good chunk out the gate, but because there's less screen time necessary to manage your trades. Short term trades end up feeling much more like a job to me, constantly analyzing every tick.

Now I'm looking at daily, even weekly charts. Shortest time period is 4hr and even that's rare. Stay safe brahs!!!

Give it a while, right now that just sounds more like dumb luck. You will know better in a couple of months.

If you are still racking up those gains in 6 months time, I will give you all my money to trade lol

[darkcloudcover]

Hey guys, let's talk money management. So how do you increase/decrease your exposure? Do you follow any position sizing algorithms?

[White-Belt]

Hey guys, let's talk money management. So how do you increase/decrease your exposure? Do you follow any position sizing algorithms?

Positions sizing - everyone I know publicly says they do, privately I can't vouch for them. Certainly I do.

No idea what you mean by sizing algorithms, explain please

[thetrebel]

Hey guys, let's talk money management. So how do you increase/decrease your exposure? Do you follow any position sizing algorithms?

Risk 50% and hope for the best ! #yolo

not srs

risk 1-2% per trade ALWAYS. Use to vary my lot size, now I keep it all the same. Also losers averages loser. Lower my lot size when trading not as hottttt

[Jofa]

e/ read through thread and answered my questions

[darkcloudcover]

No idea what you mean by sizing algorithms, explain please

Unlike fixed-bets and fixed-fractions, a position sizing algorithm defines in advance the size of the next position and links all the trades together via mathematical sequences. Variations of this are pyramiding and betting strategies (Martingale, Alembert, Paroli, etc.)

Example: A simple 0.8/100 Pyramid is an algorithm that increases your exposure by adding a new position, sized 0.8 times the previous one, each time the market goes your way by 100 points. It is mostly done by placing pending orders.
P1: Buy 1.00 at 1.1000
P2: Buy 0.80 at 1.1100
P3: Buy 0.64 at 1.1200
P4: Buy 0.51 at 1.1300
Etc.
Some people like to trail their stop while pyramiding winners.

Risk 50% and hope for the best ! #yolo

not srs

Loled at this!

[IripOffYourFace]

Unlike fixed-bets and fixed-fractions, a position sizing algorithm defines in advance the size of the next position and links all the trades together via mathematical sequences. Variations of this are pyramiding and betting strategies (Martingale, Alembert, Paroli, etc.)

Example: A simple 0.8/100 Pyramid is an algorithm that increases your exposure by adding a new position, sized 0.8 times the previous one, each time the market goes your way by 100 points. It is mostly done by placing pending orders.
P1: Buy 1.00 at 1.1000
P2: Buy 0.80 at 1.1100
P3: Buy 0.64 at 1.1200
P4: Buy 0.51 at 1.1300
Etc.
Some people like to trail their stop while pyramiding winners.


Loled at this!

didn't the turtles do that?

[White-Belt]

Unlike fixed-bets and fixed-fractions, a position sizing algorithm defines in advance the size of the next position and links all the trades together via mathematical sequences. Variations of this are pyramiding and betting strategies (Martingale, Alembert, Paroli, etc.)

Example: A simple 0.8/100 Pyramid is an algorithm that increases your exposure by adding a new position, sized 0.8 times the previous one, each time the market goes your way by 100 points. It is mostly done by placing pending orders.
P1: Buy 1.00 at 1.1000
P2: Buy 0.80 at 1.1100
P3: Buy 0.64 at 1.1200
P4: Buy 0.51 at 1.1300
Etc.
Some people like to trail their stop while pyramiding winners.


Loled at this!

Martingale I have used before, but mostly on roulette. I like the idea because after the sequence of trades is done, depending on how you structure your bet, you should always end up a winner at the end of those sequences if you have a big enough cash pot. However I have been on the wrong end of martingale, I once went 17-18 bets on roulette (playing sections) without hitting a winner. The money can top up consistently and pretty fast, however you can lose everything in one sitting as I have found.

In my system of risking 1.25% per trade that means I can have 80 consecutive losing trades before I blow my account. With a martingale system applied to that, using 1.25% as my initial risk, and adding another portion of risk (+1.25%) every time I lose, I would blow my account after 12-13 losing trades. That is too much risk for me.

This is how my risk would accumulate per trade

1.25
2.5
3.75
5
6.25
7.5
8.75
10
11.25
12.5
13.75
15
16.25

net =113.75% of my account by the of trade 13.


A slower martingale system might be more worthwhile though

[darkcloudcover]

didn't the turtles do that?

Well, kind of. They actually added to their initial position without changing the bet size. They had 4 equivalent positions in total, separated by 0.5 ATR. (Some people call this "column", not "pyramid")

Talking about the turtles, do you guys think that trend following still works on today's choppy markets?

[darkcloudcover]

Martingale I have used before, but mostly on roulette. I like the idea because after the sequence of trades is done, depending on how you structure your bet, you should always end up a winner at the end of those sequences if you have a big enough cash pot. However I have been on the wrong end of martingale, I once went 17-18 bets on roulette (playing sections) without hitting a winner. The money can top up consistently and pretty fast, however you can lose everything in one sitting as I have found.

In my system of risking 1.25% per trade that means I can have 80 consecutive losing trades before I blow my account. With a martingale system applied to that, using 1.25% as my initial risk, and adding another portion of risk (+1.25%) every time I lose, I would blow my account after 12-13 losing trades. That is too much risk for me.

This is how my risk would accumulate per trade

1.25
2.5
3.75
5
6.25
7.5
8.75
10
11.25
12.5
13.75
15
16.25

net =113.75% of my account by the of trade 13.


A slower martingale system might be more worthwhile though

Martingales flatten the account on a losing streak (which will eventually happen for an active trader).
What about Kelly Criterion? It's an optimal fixed-fraction. Anyone has experimented with it?

[White-Belt]

Martingales flatten the account on a losing streak (which will eventually happen for an active trader).
What about Kelly Criterion? It's an optimal fixed-fraction. Anyone has experimented with it?

no idea what it is.

Explain pls

[thetrebel]

Well, kind of. They actually added to their initial position without changing the bet size. They had 4 equivalent positions in total, separated by 0.5 ATR. (Some people call this "column", not "pyramid")

Talking about the turtles, do you guys think that trend following still works on today's choppy markets?

Linda raschke says to add when trend trading. They have algos that do that. Never used it though. Just a small retail sukka



Certain markets trend better. Stocks trend well. But fx can get choppy as fuarkk. But there are some good trades. Just look at the daily of u/j.

edit-wrong vid but still good

[greenleo]

I never done forex, Options are my favorite.

[thetrebel]

Swing trading not even onceee



Lost my edge from switching to intraday to swinging.

No excuses though, just got keep hustling mane.

Soon.jpg

[Tekkendo]

Well, kind of. They actually added to their initial position without changing the bet size. They had 4 equivalent positions in total, separated by 0.5 ATR. (Some people call this "column", not "pyramid")

Talking about the turtles, do you guys think that trend following still works on today's choppy markets?

The original turtles traded a breakout system. You can goggle their system. It is a very simple and basic. Most of the Turtles have evolved and adapted to the changing markets.

[thetrebel]

Long eur/usd

Long chf/jpy

Long gbp/aud

[thetrebel]

Long eur/usd

Long chf/jpy

Long gbp/aud

awww yeahhhhh

[White-Belt]

Long eur/usd

Long chf/jpy

Long gbp/aud

I'm looking to get long on eur @ 1.372

[thetrebel]

I'm looking to get long on eur @ 1.372

Do it *******ttt


Short usd/cad(might have goofed #yolo)
Long chf/jpy
Short eur/gbp

[thetrebel]

http://www.traderscalm.com/

Great site brahs. Forces you to look in the mirror as a trader.

"Certain behaviours seem to be common to the majority of traders who keep on winning and keeping their profits (CALM traders). These tips are intended to prompt you into becoming a CALM trader.

If you are looking for a quick fix, with little effort involved from you, please look elsewhere. The tip for Monday to Sunday of week 8 is:

A majority of CALM traders have used a traders log to assist in learning from mistakes and successes. Do You?"

[bh4tmann]

Anybody here swing forex? If so, how much capital do you start with?

[White-Belt]

Do it *******ttt


Short usd/cad(might have goofed #yolo)
Long chf/jpy
Short eur/gbp

I have changed that to 1.37, it is a safer entry but less likely to get filled

[thetrebel]

Do it *******ttt


Short usd/cad(might have goofed #yolo) -50
Long chf/jpy +10
Short eur/gbp +50

Anybody here swing forex? If so, how much capital do you start with?

I do m8. I started with $500, just to play around with. Account is way fatter now.

The cool thing with fx is there is very little comish so you can trade with a small amount of capitol, plus the leverage.

[snizzle77]

Hey guise. Haven't been on here for awhile, but have a question. Will rep for good answers.

I have a phone interview this week for a SUMMER ANALYST position at BAML's Rates Origination & Currencies division. I understand this is technically an S&T position, but it's grouped with global capital markets.

I've only messed with FX trading a small bit in my past, but mostly equities/options. I'm coming from a primarily sell-side M&A background. It's been a bit difficult to find exactly what they do, I've searched around quite a bit.....any input? Any good ways to sell my background in M&A for this position?

Any ideas on what to expect? Technical questions?

[bh4tmann]

What do you look for as indicators towards ForEx?


I'm an econ student so I'd understand about expansionary policies/interest rates. What else can I refer to/learn?

[Jofa]

Can anyone explain to me how to use the Oanda charts while inside Metatrader 4? I really don't like the charts in metatrader4 but I like the tools such as the rectangle tool, etc.

Like how this guy has it setup:

[jwlee7ucla]

Hey guise. Haven't been on here for awhile, but have a question. Will rep for good answers.

I have a phone interview this week for a SUMMER ANALYST position at BAML's Rates Origination & Currencies division. I understand this is technically an S&T position, but it's grouped with global capital markets.

I've only messed with FX trading a small bit in my past, but mostly equities/options. I'm coming from a primarily sell-side M&A background. It's been a bit difficult to find exactly what they do, I've searched around quite a bit.....any input? Any good ways to sell my background in M&A for this position?

Any ideas on what to expect? Technical questions?

I think all of us in this thread are amateurs and probably wont be able to help you

What do you look for as indicators towards ForEx?


I'm an econ student so I'd understand about expansionary policies/interest rates. What else can I refer to/learn?

there are a ton of indicators, and it is subjective which ones you want to use. There is no "best one" so to say

Can anyone explain to me how to use the Oanda charts while inside Metatrader 4? I really don't like the charts in metatrader4 but I like the tools such as the rectangle tool, etc.

Like how this guy has it setup:

try looking up a MT4 tutorial on youtube, there are a lot. Tools are straightforward to use- you just select the tool and drag in this case

[Jofa]

I think all of us in this thread are amateurs and probably wont be able to help you

there are a ton of indicators, and it is subjective which ones you want to use. There is no "best one" so to say

try looking up a MT4 tutorial on youtube, there are a lot. Tools are straightforward to use- you just select the tool and drag in this case

I didn't word my question very well, I meant to ask why the charts in this video are the same charts as the ones from when you strictly open an oanda account while when I log in to MT4 Oanda, it uses the basic MT4 charts.

I'd prefer to use the oanda style charts (like the ones in the vid I posted) if that is possible.

Sorry for the confusion, and I appreciate the response.