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Sir Pipsalot Words

Discussion in 'Commercial Trade Journals' started by Sir Pipsalot, May 4, 2012.

  1. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    Hey guys. Sorry I just eventually faded off the radar. I keep track of the markets and all, but my naval career has really taken over my time and focus over the last couple of years and that's what I'm really pouring myself into right now. I'll definitely get back into teaching and trading forex and the financial markets full time once I'm out of the Navy, but for now I don't have the time to do it justice.

    Just remember, trading is not a casino. It's not sports betting. It's not about seeing into the future at where the currency or market is going to go and betting hard on it. It's about taking advantage of patterns and swings in a methodical manner, and setting yourself up with an acceptable max risk on losses (I generally recommend 1-2%). Sure you try to anticipate major moves and even make some predictions, but you have to trade them in such a way where you don't have to be right all the time to earn profit.

    As far as investing is concerned, I thought we'd see another major dip in the stock market bringing the S&P500 to 600's or lower again by now. I still think there's a very measurable risk we see another major dip in the stock market. All I've done on that bias though is hold back from buying stocks and waiting until either stocks take that major dip, or that risk dies off substantially. In the end I'm not losing any money from my relatively bearish outlook on equities. I may have "missed out" on the rally from 1100 to the 1300's, but I simply think that the risk of losses outweigh profit potential here. It's the same thing with trading... you want either the likelihood or amount of profit to outweigh your risk, otherwise stay out =P Thankfully though, my plan of maintaining a 20% investment in gold is working out nicely.

    For the last year or so I've been on the sidelines gaining a lot of big picture perspective on the markets and persistence of trends. It's nice to see the community still thriving here as I hope there's still an eager home for me in the forex world when I find time to return. It's remarkable how everything is so inter-related. Oftentimes I see the price of gas at the gas station on the way to work shift and from that, I can often tell where the EUR/USD is without having looked at a chart for awhile. I'm really thinking that the patience I'm being forced to develop from not trading will really benefit me once I return to trading down the road. Hopefully people will still be around that remember me then... but if not, I'll be still be happy to start fresh and reprove myself once again.
     
  2. Mark Harding

    Mark Harding Corporal

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    Glad to hear you're going well Sir Pips.

    Good to hear you're going well Sir Pips.

    I'm still steadfastly implementing everything you've ever taught me.

    All the best for you and your family

    Mark
     
  3. WaveRider

    WaveRider Sergeant

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    I've never had the opportunity to interact with you but I wish you a safe return and look forward to reading about your trading.
     
    #3 WaveRider, May 5, 2012
    Last edited: May 5, 2012
  4. gabriel goncalves

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    I was waiting for you since long time to start again with a forex account
    For me you are the MUST
    Maybe i go back to profit mongers
    sorry my english
     
  5. Boko Maru

    Boko Maru Sergeant

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    Hey SP...great to hear from you! I hope your time in the Navy is going well. Certainly would love to hear your wisdom again whenever you get back into the markets. In the meantime, let me know if you ever get to my area (I'm in the same place). Happy to buy you guys lunch or dinner again! Take care and don't be a stranger!
     
  6. RahmanSL

    RahmanSL Major

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    "Hopefully people will still be around that remember me then..."

    Hey Major Sir Pipsalot (that's two titles there;)), a big welcome back and a real pleasure to see you back here.
    Remember you??? Of course all the oldies remember you. How can I not remember you when you are one of the very few person who greatly influence my perspective of the forex world in my early years some 3 years ago???
    I am looking forward to reading your post as in yesteryear.


    Hey Boko Maru, would be happy to get together with you guys (and put a face to the internet name) if you are anywhere near Malaysia, Singapore, Indonesia, Brunei Darusallam, or even the Philippines and possibly Thailand;)...but not this year coz have to complete a major project works...but anytime after March 2013 would be good!
     
  7. Boko Maru

    Boko Maru Sergeant

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    Hey Rahman...well I'm on the other side of the world (US-Virginia), so unlikely I will get that way :) But same invitation goes for you if you are ever in this area. Maybe Sir Pips will get that way if his Navy ship goes into port in your part of the world...you never know!

    Hope all well with you...
     
  8. WaveRider

    WaveRider Sergeant

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    A little off subject: Boko - I like your avatar and quote. I had to get a chair for my cat next to my desk to keep him off the keyboard. He couldn't be happier trading forex with me.
     
  9. RahmanSL

    RahmanSL Major

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    Life's good for me Boko Man...hope same with you.

    Thank you for invitation too...ok, in that case I will wait for you to make your millions from trading the forex and meet you on board your big luxury yacht ;)


    I have adopted the lazy trading strategy with "carry trades"...less stress and more stable profits too.

    ======================

    Hey WaveRider....I see you are back in trading the forex;)....I thought you said you are busy with school?
     
  10. Boko Maru

    Boko Maru Sergeant

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    Hey WaveRider-thanks; yeah I understand how that is completely. One time back in the old King Forex/Rob Grespi room, one guy said his cat walking on his keyboard ended up exiting a trade he was in. Funny stuff :)

    Rahman-glad you're enjoying the low stress carry trades! Glad you are well too.

    Peace...
     

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