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European Forex Professional Weekly 2009-09-04

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Sep 4, 2009.

  1. Johnfa

    Johnfa Private, 1st Class

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    You are trading this account on MT3 offer by Alpari (UK) now ?
     
  2. Sive Morten

    Sive Morten Special Consultant to the FPA

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    No, i trade MT4
    But it was a lot time ago when I trade something with any version of MT(4 or 5 years ago). That's why i do not track any improvements in MT. And didn't pay much attention, that MT4 has a possibility to trade with decimal lots. I shall use it in future.
     
  3. Johnfa

    Johnfa Private, 1st Class

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    You should know the lot size after the 1st trade open. You are 20 years experience in FX ?
     
  4. Sive Morten

    Sive Morten Special Consultant to the FPA

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    50 years :)
    I know the lot size, when I open position. And i calculate the risks adecuately. That's why i didn't put stop loss on 1.4720. But...
    I didn't know that I can trade with a smaller leverage. There wasn't such option in MT3. Between these two moments a big difference - to know the lot size and to know that you can trade with lower leverage. I suppose, that you understand it.

    You can tell what you think, do not hesitate. Based on your comments, i see that you doubt my qualification, and your distrust is based only on the moment, that I didn't trade with a low leverage, and did not open position that was unacceptable due risk amount. You doubt me for my miss of improvement in MT4 that i didn't trade for 4-5 years. That your right to think that way.

    But from the risk value my position was absolutely right. My s/l was adecuate my possition. Now i find out, that i can trade with lower that 1lot and will use it. If i ask you why are you do not trade e-mini S&P instead of full contract, will it be matter if your s/l was absolutely right? And you said:" Oh, i didn't trade S&P since 1985, and there was no e-mini". Does it mean that you are the bad trader or analysist?
    Think about it.
     
    #24 Sive Morten, Sep 14, 2009
    Last edited: Sep 14, 2009
  5. Johnfa

    Johnfa Private, 1st Class

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    Yes, I doubt your qualification because you cut loss the sell trade on the top. You can have a few pips profit if you didn't out that trade too early.


    Good luck to you !:)
     
  6. Sive Morten

    Sive Morten Special Consultant to the FPA

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    First, it is very easy to talk about this, when you see a historical chart, what do you think?
    (Don't you think, that you should give me that advise before the deal was closed?)
    When the time has passed, I also see maximums and minimums on historical chart... And can tell, that there you should to buy, and there you should to sell. It's quite simple ;)

    "Yes, I doubt your qualification because you cut loss the sell trade on the top. You can have a few pips profit if you didn't out that trade too early."

    Second, I think, that you have to know the foundation of that deal first - why it was opened, targets, expectations... Only after that you can make a decision about a propriety of placing stop. Discuss s/l with no concern with deal is absurd.
     
    #26 Sive Morten, Sep 15, 2009
    Last edited: Sep 15, 2009
  7. Johnfa

    Johnfa Private, 1st Class

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    Tell me what is the difference between a newbie and a 50 years experience trader :) ?

    I see both have the same lever :)

    Buy on the top, sell at the bottom and cut loss on top :)
     
  8. Pharaoh

    Pharaoh Colonel

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    All traders can pull the trigger. The only real question is who can consistently make the most profits and sustain the smallest losses. Although Sive's risks per trade are beyond my personal comfort zone, his record so far is quite impressive. Of course, if Sive ever does decide to sell direct "open now, close now" style signals, individuals trading them would have the ability to set their own risk levels.

    At this point, we've only only got a little over 2 weeks of Sive's actual trades to look at under signals performance testing. It should be very interesting to see how he does after a month or so.
     
  9. Johnfa

    Johnfa Private, 1st Class

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    Yes, hope he doing well. Wait and see...
     

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