Forex/Cryptocurrency General Chit Chat Thread

[havetheveryfun]

Sorry to hear that.

I believe your account is small. Imagine if your account is 50k and no stop losses?!

3 explosions = 150k!

do you put stop losses when you buy stocks ?

 

[DukeCS33]

Ai zai lah. Mai chua sai. Unrealised loss -US$28,600.

Tiagong Fed a bit humji now. May hold off on another rate hike in Dec 2018!

Interesting view but will the Fed do that? There is no crisis to provoke joint intervention between Fed and US Treasury....

 

[Mecisteus]

do you put stop losses when you buy stocks ?

Nope.

And my account is a few hundreds.

 

[Mr.Canberra]

Sorry to hear that.

I believe your account is small. Imagine if your account is 50k and no stop losses?!

3 explosions = 150k!

Account #2 that exploded had mid 4 figures in USD.

All accounts NO STOP LOSS.

Unless is like the recent EM rout or black swan event if not big boys will start to humji when they push too far in one direction and fibo retracement kicks in. This is why I dare to play NO STOP LOSS but only works for Forex and not stocks. Stocks can go to zero. Citigroup.

Anyway trading and investment is not suitable for those who see money as everything. You cannot eat and sleep when your asset value drops. As I get older I start to detach emotions with monetary matters.

I am not a religious person but I believe in karma as in if heaven wants you to huat you any how hantum any stock or business will also huat. I am sure you guys have seen real life examples of such persons. And then there are also those who keep trying but to no avail. What I know is heaven is very fair. You will receive something but not everything. What is meant to be yours will be yours. 不要强求。Same goes for relationships. Rich or pok gai most importantly is be contented with what you have and cherish your loved ones.

 

[Mr.Canberra]

EURO-DOLLAR: Despite reported month-end and SOMA...

EURO-DOLLAR: Despite reported month-end and SOMA USD demand Wednesday EUR/USD failed to break the Aug15 low of $1.1301 as it posted a low of $1.1302. MNI suggested yesterday that demand could emerge from a certain major player to counter the USD demand which seems to have been the case. Rate recovered to$1.1328 but had sunk back to $1.1310 into the close. Risk aversion eased in Asia, helped in part by GBP's recovery on positive Brexit headlines, and helped EUR/USD's recovery. Nikkei recovery boosted EUR/JPY, though there were some headwinds as EUR/GBP eased on sterling strength. However, EUR/USD rallied to $1.1350 before momentum. Some of the shorter term longs covered back ahead of Europe which eased rate to $1.1338. Fresh demand in Europe has allowed rate to edge on to a fresh high of $1.1352, though momentum not too convincing so far. A data light domestic calendar with attention on US Mfg PMI and Weekly Jobless Claims ahead of Friday's main NFP event. Resistance noted between $1.1350/60 ahead of $1.1388. Traders aware that $1.1400 holds the strike of a large option expiry for today's NY cut, E4.06bn. Main support remains into $1.1300.

Someone propping up the EUR at 1.13. Very strong support here.

 

[havetheveryfun]

Nope.

And my account is a few hundreds.

people can accept no stop loss on stocks but they can't accept no stop loss on forex even when no leverage or little leverage on forex. that is sometimes puzzling to me.

 

[Mr.Canberra]

people can accept no stop loss on stocks but they can't accept no stop loss on forex even when no leverage or little leverage on forex. that is sometimes puzzling to me.

Yes this baffles me too!

Most people will label you as nuts if you tell them you play Forex with NO STOP LOSS but it is perfectly normal for stock punting with no stop loss.

 

[DukeCS33]

Yes this baffles me too!

Most people will label you as nuts if you tell them you play Forex with NO STOP LOSS but it is perfectly normal for stock punting with no stop loss.

Different strokes for different folks. Some people feel more comfortable with one asset class over another and objectives may be different.

 

[Mecisteus]

people can accept no stop loss on stocks but they can't accept no stop loss on forex even when no leverage or little leverage on forex. that is sometimes puzzling to me.

The key is the leverage.

It's not the asset class.

When you trade FX, obviously it's because of leverage.

If your account has 1k and your exposure is 100k, a 1% movement against you will wipe out this account.

But 1k is no big deal. You can probably open another 99 of 1k accounts.

Imagine if your account is 100k and your exposure is 10M. You tell me if you dare to no stop loss?

 

[havetheveryfun]

The key is the leverage.

It's not the asset class.

When you trade FX, obviously it's because of leverage.

If your account has 1k and your exposure is 100k, a 1% movement against you will wipe out this account.

But 1k is no big deal. You can probably open another 99 of 1k accounts.

Imagine if your account is 100k and your exposure is 10M. You tell me if you dare to no stop loss?

yea but mr canberra is open about his positions and you can tell he only leverage around 10-20x. so dont know why ppl keep going on and on about his no stop loss method and trying to put him down.

already said many times no stop loss is fine as long dont over leverage, but ppl still always want to come in and talk about putting stop loss and laughing at him when he loses.

also, not everyone leverages when trading FX. sounds silly but there are ppl out there doing so. they treat trading forex just like trading stocks.

 

[DukeCS33]

yea but mr canberra is open about his positions and you can tell he only leverage around 10-20x. so dont know why ppl keep going on and on about his no stop loss method and trying to put him down.

already said many times no stop loss is fine as long dont over leverage, but ppl still always want to come in and talk about putting stop loss and laughing at him when he loses.

also, not everyone leverages when trading FX. sounds silly but there are ppl out there doing so. they treat trading forex just like trading stocks.

This is very much valid - if I am trading 10k notional, I would not be bothered to put any stop loss. but if I am trading a larger notional, I would - all boils down to how much risk one is comfortable taking and sitting it out.

 

[Mecisteus]

yea but mr canberra is open about his positions and you can tell he only leverage around 10-20x. so dont know why ppl keep going on and on about his no stop loss method and trying to put him down.

already said many times no stop loss is fine as long dont over leverage, but ppl still always want to come in and talk about putting stop loss and laughing at him when he loses.

also, not everyone leverages when trading FX. sounds silly but there are ppl out there doing so. they treat trading forex just like trading stocks.

Not sure why you felt so sensitive.

Cheers.

 

[havetheveryfun]

Not sure why you felt so sensitive.

Cheers.

simple, because you don't trade forex: https://forums.hardwarezone.com.sg/105623979-post2265.html

dont believe in being able to make a full time living from forex or making anything from forex:
https://forums.hardwarezone.com.sg/105165182-post952.html

yet still always want to comment in forex threads, so really dont know the point of your inputs sometimes, as most of them are just about discouraging people to trade forex.

 

[Mr.Canberra]

Different strokes for different folks. Some people feel more comfortable with one asset class over another and objectives may be different.

yea but mr canberra is open about his positions and you can tell he only leverage around 10-20x. so dont know why ppl keep going on and on about his no stop loss method and trying to put him down.

already said many times no stop loss is fine as long dont over leverage, but ppl still always want to come in and talk about putting stop loss and laughing at him when he loses.

also, not everyone leverages when trading FX. sounds silly but there are ppl out there doing so. they treat trading forex just like trading stocks.

This is the mindset of the public in general.

Stocks = investment
Forex = speculation (some say gambling)

It has nothing to do with leverage or not because you can also do margin trading for stocks as well.

The sterotype is such that Forex is a very high risk and sure lose money asset class. This is true because 90% of Forex traders do not dare to play NO STOP LOSS so confirm will lose money because the price will make a return trip to the entry price after some time due to PPP and price discovery.

Those who do not believe in NO STOP LOSS is because they do not fully understand well how Forex works. It only works for major currency pairs and not EM currencies hahaha.

My friendly advice to readers is do not be afraid of critics, experimentation and failures. I mentioned this before. I am not afraid to lose money. I am only afraid to lose my conviction and will to fight. By the way I have already recouped my August 2018 losses for account #1 and back to small profit of S$1195 for month of October 2018. For the rest of 2018 hope to recoup my account #2 losses.

As you can see I spent the past 2.5 months licking my wounds and making a comeback to profitability. This is the never say die spirit that no one can take away from me. What does not kill you will make you stronger!

 

[Mr.Canberra]

US Dollar Index

Ai zai lah. Mai chua sai. Unrealised loss -US$28,600.

Tiagong Fed a bit humji now. May hold off on another rate hike in Dec 2018!

Yesterday's unrealised loss -US$28,600. Today's unrealised loss -US$24,200. Richer by US$4400!

Yesterday DXY was damn strong. Even me almost chua sai. For most traders I think they sure humji and cut losses but today prata. Bang balls sia!

 

[dabian123]

helpppppp

Hi guys, i need some advise here. Shorted aud/usd at 0.7103. Now aud/usd shoots up non stop and i'm at a lost of -2.5k usd, should i continue holding or cover back my short?

 

[Mr.Canberra]

Hi guys, i need some advise here. Shorted aud/usd at 0.7103. Now aud/usd shoots up non stop and i'm at a lost of -2.5k usd, should i continue holding or cover back my short?

AUD and NZD on steriods today. Haha one steep directional chiong. Wow up 110 pips today. I believe will touch 2% volatility band.

How many lots? Margin balance?

Most traders are long on USD but who knows today USD prata slightly. I am net short on USD that is why my unrealised loss is huge.

Today's price action quite fierce.

 

[Mr.Canberra]

AUSSIE: AUDUSD continues on a buoyant tone and...

AUSSIE: AUDUSD continues on a buoyant tone and comfortably holds above the 2018 channel top, which comes in today at $0.7155. This level was previously broken on Sep26 but failed to hold and will be monitored around the close today. A break of $0.7200 opens the double-top resistance area at $0.7238/43, ahead of the 100-dma at $0.7273. AUDCAD extends gains above C$0.9400 and now looks certain to close above channel top resistance (See MNI Analysis email - AUDCAD Channel Top Resistance), something it has failed to do over the previous two trading sessions. Another key level to watch around the close is the 23.6% fibo of the 2018 range at C$0.9374.

 

[dabian123]

AUD and NZD on steriods today. Haha one steep directional chiong. Wow up 110 pips today. I believe will touch 2% volatility band.

How many lots? Margin balance?

Most traders are long on USD but who knows today USD prata slightly. I am net short on USD that is why my unrealised loss is huge.

Today's price action quite fierce.

3 lot = 300k? almost going to .72 liao

 

[revhappy]

USD is getting roggered today.

I have never seen USDSGD position in my portfolio fall this much.

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