The learning cycle for a newbie trader - PART 2

[4xis2ez]

Originally Posted by weissdawg

I have read many of your posts/threads, and I would greatly appreciate it if you answered a few questions I have for you.

Click on Soultraders link to his forex diary. It will probably answer some of your questions.

[4xis2ez]

OUCH! http://grailtrading.blogspot.com/
A discretionary trader would have taken steps to control losses well before a %48 drawdown.

[MickMason]

Originally Posted by 4xis2ez

OUCH! http://grailtrading.blogspot.com/
A discretionary trader would have taken steps to control losses well before a %48 drawdown.

Hopefully an automated system would do the same!

Is that the 'a million in 1000 days' system or the Hilda Bunnygirl?

[Soul-Trader2004]

a discretionary trade would have bottled long before the next month's 61% return also.

but then a discretionary trader would never have got there in the first place.

weiss i'll answer your post on monday

[4xis2ez]

YOU CHANGE MY SIGNATURE BACK NOW! Look here eveybody. SoulTrader changed my signature and elliminated my link to my blog. Moneytec management will be notified. Voice your opinion here.

[MickMason]

Originally Posted by 4xis2ez

Voice your opinion here.

Unfortunately Moneytec stopped being a democracy and allowing free speech quite a while back!

Ok, if we're back to this stupidity again I guess it's time to have another break........

[static]

Originally Posted by MickMason

Unfortunately Moneytec stopped being a democracy and allowing free speech quite a while back!

Was it ever one to begin with? Dictatorships are cool as long as I get to be the dicatator...

Thanks for the insights Soul, its nice to see someone who is successful and has come to similar conclusions as I have about certain things. Makes me think I am on the right track anyway. I can relate to a lot of the steps that you have covered though the order is a little different for me. Anyway stay with it, its good to know that someone besides the institutional traders are making money.

[MickMason]

Originally Posted by Soul-Trader2004

a discretionary trade would have bottled long before the next month's 61% return also.

but then a discretionary trader would never have got there in the first place.

Soul I have to say it mate, you do spout an absolute load of garbage at times! Most of the time it's simply not worth the effort correcting you so I don't bother but abusing your moderator status to change someone's sig simply because they pointed out the pip value of eur/gbp, that was out of order.

A 48% drawdown one month, followed by a 61% return the next equates to a loss! Russell is right, a trader would never allow those kinds of drawdowns so you saying "a discretionary trader would never have got there in the first place" is quite correct, but then I'm talking about a trader.

You claim TA is bollox and discretionary trading doesn't work, in fact according to you the only thing that does work are your automated systems which as far as I can see all lose money. Your excuse for the major drawdowns? Of course, it's a secret money management system!

What amazes me more than anything is the amount of people gullible enough to believe this crap


Ah, what's the point.....