Forum - CHF (Topic)

Ignore

Florida, United States

Posted Anonymously

14 years ago

Nov 10, 2010 16:02

DaveO..good experience and results!!..congrats..
I am older guy who worked in father's bank (forex) in Trinidad back 'in the day', still do to some extent..

my view once 50k + in account accumulated. then 6-7%. month is very good..
altho lately must have good range trading models to profit
I am always tuned in with 4-6 hr. breaks, watchin and waitin..

DaveO

N.Cornwall, UK

Posts: 5733

14 years ago

Nov 10, 2010 15:37

And Ignore, I am happy with my first year in forex trading but must say I have traded currency futures for many years amongst other instruments. I only trade my own tech analysis but I follow Ashraf to sometimes align his fundamental bias. My forex trading since january 10 accounts for 27% of my equity curve gains this year which total well into 6 figures. I earn my living from trading and my screen time is typically c.70hrs/week x 16 years. What is your screen time ?

DaveO

N.Cornwall, UK

Posts: 5733

14 years ago

Nov 10, 2010 15:27

Ignore, we will have to agree to differ. You probably know the level of this forum much better than I but from my perspective not all traders here are experienced.

La Puzzy Digitale

HastaLaVista, Burkina Faso

Posted Anonymously

14 years ago

Nov 10, 2010 15:14

iggy are u in da game ?

Ignore

Florida, United States

Posted Anonymously

14 years ago

Nov 10, 2010 15:08

DaveO..you are the master of the obvious for newbies...but there is no replacing the amount of 'screen time'
one has put in on a pair in forex...it is imperative to have many years of this IN FOREX...
and following other's ideas can be harmful, if it replaces your own FOREX trading model..
sorry you were dissapointed with your leader...but don't see his obligation the way you do obviously..

gl & gt

DaveO

N.Cornwall, UK

Posts: 5733

14 years ago

Nov 10, 2010 13:01

If you placed your stop at 9540 it was not hit so no problemo. Ashraf stop at 9550 was hit.

fastpips

surrey, Canada

Posts: 69

14 years ago

Nov 10, 2010 1:29

I have been following Ashraf for more than three years. I know his style and hardly lose money following his calls.I took the swissy trade as well with stop loss at 9540 and added more when Ashraf said he was not convinced and sticking with the long call. The price was at 9587 when I added more. Even if the stop was hit it would have been close to break even with the second position by now. So where is the problem? I am not even mentioning the hedging. Thanks

DaveO

N.Cornwall, UK

Posts: 5733

14 years ago

Nov 10, 2010 0:43

Ashraf, our posts crossed post :-)

I certainly did not mean to infer you are foolish. far from it !

What I meant was that moving the stop away from the market is foolish. If your follower had placed a hard stop on the trade in question it would have been taken. Are you now saying your stop position was not technically logical !

DaveO

UK

Posted Anonymously

14 years ago

Nov 10, 2010 0:36

Ignore, I hear so often that forex markets are different to other markets. They are not. From a tech perspective Forex is the same as any other market and I have traded most of them over the years. Hard stops should be placed in the market at a logical point at which a trade idea is violated.

If traders get into the habit of moving their stops away from approaching price they will never make good traders, period. This is definitely not to be encouraged for novice or inexperienced traders as sooner or later their account will get wiped clean. Ashraf dances around the floor with fundamentals and he can trade how he likes and take full responsibility for his own trading, if indeed he does trade. Making calls for others to follow is a different matter which carries some responsibilty. There will be times when Ashraf, however competent, will make some bum calls. Good trading is directly related to good trade management.

Ashraf Laidi

London, UK

Posts: 0

14 years ago

Nov 10, 2010 0:20

DaveO, I had to re-read your comment to comprehend that you were calling me foolish, accusing me of "moving" my stop just because the market fell 3 pips below my stop. Then you contradict yourself, saying the stop may not have been hit--depending on the spread. Then you say this is not cricket??? Well well well. I wonder what next shall come on this forum.

Not only did USDCHF rally 150 pips from 0.9550, but yes, the hedge did work. ie the short EURCHF did work. I did not know i needed your authorization to "claim success" for the rebound in USDCHF and the resulting decline in EURCHF.

If you would like to play policeman or Mr Fair on this forum, I suggest you seek other avenues. I welcome crticism for instance on my poor short call on cable. But this? At least.. Taking me to trial on 3 questionable pips?

I rarely the take the time to spend time on petty comments. But I was expecting more from veteran member of the forum such as yourself.

Ashraf