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by Ashraf Laidi
Posted: Jan 1, 2011 0:30
Comments: 1846
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This thread was started in response to the :

Ashraf's Book: Currency Trading and Intermarket Analysis

Ashraf's Book: Currency Trading and Intermarket Analysis
 
FXHandler
Norway
Posts: 195
15 years ago
Sep 4, 2009 2:30
Sorry anauel63. You are right.

Qin, might better to make a new section for us trying to share experience, bad or not.
:p
anauel63
london, UK
Posts: 34
15 years ago
Sep 4, 2009 2:24
HI everyone , as adults ,it would be mutch wiser to leave this section for questions and thuoghts focused on Ashraf's book,
thanks for your comprehension.
FXHandler
Norway
Posts: 195
15 years ago
Sep 4, 2009 2:21
Qin, I
traded NOK for many years ago. But was away for awhile... The crisis gave extreme gains in CHF and nobody would think it go so high....
Anyway, looking at all the Majors in a 8 hour chart.... 1. wave show you a peak and 35% retracement from base, then 7,6 % gain on the next wave up. This was the same during the Asian crisis in 1998...... Shoulder-Head-shoulder....then down.....
I actually waited to trade the "head", but got impatiend and went in way to early......

then, lost so much, I was Thinking the last "shoulder" would be bigger than the "head", but this time it didn't happen. ( In my mind I had that tought as well... but again, listened to someone else..)

In 1998 the last "shoulder" was higher than the head cause of investors selling them out on positions before the New Year. This time the crisis came to month earlier and prolounged/heavier than before... so it means the "head" was before new year and therefore the "shoulder" became smaller than last time.

Sorry, for ad explanation. But when I am finished with my report, you will understand much more.

It is unbeleivable, yes. But I will come back!!!!
FXHandler
Norway
Posts: 195
15 years ago
Sep 4, 2009 2:11
Qin, it was 508k NOK, yes. Before that I lost also the same amount.
I will give you guys my story later when I finished my report. Allot more to analyze there.
But, I was an amateur totally, now I am gaining more and more.

30kEuro is still a big loss!!!!

This is why I talk to you Qin, you seem very impatiened... same as I was... no good...
;-)
Qin
Jonkoping, Sweden
Posts: 492
15 years ago
Sep 4, 2009 2:06
fx, How long you have been trading on NOK??

I used to mainly trade on Yen cross for a few years........I think I know Yen more then USD......but I think USD and Yen has switched place now.......so I put all my energy on USD.......
FXHandler
Norway
Posts: 195
15 years ago
Sep 4, 2009 2:05
I learned allot after that catastropich trade. It was silly. I listened to my brokers.....
I will send you guys my analytics of FX when I am finished correlating the CHF/NOK compared to the asian crisis and other crisis affecting the currencies.
It shows that the history repeats itself. But a humans economy rememberance only last for 10 years, max...
I did 3 trades during December and gained 60%, no problem. Then not listening to myself, I was unpatient, went in to early and the NOK got hit really bad. I was extremly unlucky.

Before this, I did calculations based on stochastics and previous crisis. I predicted the CHF/NOK to 6,72 (it went to 6.76).... But... impatience... and greed... then fear.... is our killer!
Right?
Regards and good night.
:)
Qin
Jonkoping, Sweden
Posts: 492
15 years ago
Sep 4, 2009 2:00
fx,
wow...do you mean 508k NOK??..it was a huge loss.........my most heavy loss was 30k EUR on one trade, on USD/CAD........I think it was 2 years ago......
Qin
Jonkoping, Sweden
Posts: 492
15 years ago
Sep 4, 2009 1:54
NO, usually I don't use stop loss.............but sometimes I will cut my loss very quickly, if I feel strange..........I believe 40% of my feeling......
FXHandler
Norway
Posts: 195
15 years ago
Sep 4, 2009 1:53
Qin, you still did good.
My worst was going short on CHF/NOK 6,13 and it went to 6,76. 10xgearing (with margin I could tackle 6,67)...... 508.000 NOK lost in one stupid trade. Fuck! On Christmas day...
:-S
FXHandler
Norway
Posts: 195
15 years ago
Sep 4, 2009 1:48
Qin, Asad. Still awake, so I ask again..... "Gearing" you guys use and S/L (averaging)?