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Posts by "merlyn2013"

28 Posts by member
merlyn2013
(Colombo, Sri Lanka)
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 16, 2013 19:10
In Thread: EUR
All

My aim was not to disturb the peace here. It was meant to be purely a healthy criticism so that quality of calls can improve. Ashraf is a very good "analyst" and I said that he is TOP 3 imo for analysis of central banks and fundamental economics. His calls on GBPAUD, AUDUSD and USDJPY stands out. But he may not be best forex "trader" given he ends up chasing a lot. His stop placement needs to improve.

Now lets discuss the call to short USDJPY based on a death cross. There are research studies available which suggest that in the immediate aftermath of a cross, the pair will move against the cross. Its called a shakeout of traders who jump in early. Everyone in the forex world has seen that cross. Not a big deal. What will market do? Logical that markets will go against the early kids who jump in for the easy 200 pips? Will trading be that easy?

Second reason why you should reconsider USDJPY: US and EU yields have broken to new highs. Hope you saw that. 2.83%? You think USDJPY is going down after that? It may later but now or next week? See how close your stops are.

Third reason: There are some major resistances at 98.5 and 99. So imperative that some stops will be hurt. That is how forex works. Its called stop hunting.

So there is my 2 pence on your USDJPY call. When one trades and loses money and over 5 months continuously, then one starts learning all aspects of trading instead of just one or two aspects like a stochastics and cross. I also explained how your EURUSD long was wrong. Sure enough here we testing your second stop at 1.3380.

So excellent analysis on economics and fundamentals but trading is a different beast all together.

Hope we forget and move on. I requested Ashraf to delete my post but he has not yet done that. Please pardon if this seems one sided criticism as I dont aim it to be. He is a damn good analyst.
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 16, 2013 4:52
In Thread: EUR
am just frustrated with forex more than with Ashraf.
Ashraf, as to success rate, why dont you calculate your own calls from March? I calculated success as winning to total calls. I can send you the excel file if you need it? I dont like posting these files when you yourself dont post the calls performance and ask subs to calculate.

But again third time: I compliment Ashraf as he is a wealth of knowledge. No doubt about it. Just I lost money so am frustrated.

Please please feel free to delete my posts which are not right.

I maintain forex is full of scams.
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 15, 2013 19:33
In Thread: EUR
the real successful traders will not be on twitter and facebook and CNBC and BBC trying to market their "winning" calls and say "this is what I said yesterday". Traders who are successful will keep making money quietly and silently unless someone somewhere in a charitable fashion wants to teach. I have not found anyone like that. Your post earlier explaining EW was wonderful and showed an eagerness to teach. But you dont run a service right? Thats what am saying. People who have something to really give are quiet and are not going to market themselves.

You see why I hate forex world with all its scams and marketeers. Its a place where all the failures of the world are collected together.
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 15, 2013 19:24
In Thread: EUR
I have learnt enough non-sense jargon like US yields and EU yields etc just to keep my subs interested that I know more than them. To me forex trading cannot be won. I have not yet seen a single guy make money in forex for sustained period of time with success rate of atleast 50%. Ashraf rate is 30% on majority of pairs and I have a full myfxbook link of his trades.

No signal provider who is truthful has a good record in forex. Odds are agains the subs all the time. The best place to be is to advise and teach and provide some indicators etc. The worst place is to trade personal money on this shit market. Just see what EU did today. 1.3207 to 1.3350 without a reason or logic. Just like that.
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 15, 2013 19:20
In Thread: EUR
I agree Dave. I hate taking responsibilities as am brought up a bit well protected but with these losses now going to show on credit card, my dad is going to toast me. I will just have to promise that I will make all this back without any further investment.

How do you think I can make that? Only one solution comes to mind. Become a forex signal provider or advisor who has never made money in his life. odds are that I too will have bad and good days and I will market my good days like hell and get as many subs as possible. During bad times, I will say that is the costs of business and ask my subs to go take responsibility for the losses.

Trust me its one lovely business and the forex world is filled with such services.
Ashraf is a genuine guy so am not blaming him. But there are 100's of forex scams and well I will join the party to make my losses back.
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 15, 2013 19:03
In Thread: EUR
Am going to leave the forum anyways as am off to another forum which seems to be well moderated by the trader. Ashraf is rarely here so no point being here. But remember I did say that EURUSD is well supported at 1.3220 and now off to 1.34. too late to enter.
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 15, 2013 18:52
In Thread: EUR
Ok no slagging. Now on eurusd do you people agree that EURUSD is headed 1.34? But what happens after 1.340. lots of monthly averages at 1.3440 to 1.3470 so surely a short there?
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 15, 2013 18:50
In Thread: EUR
advisory :) am not trading anymore. Am going to build a loyal group of followers by my calls and open a brand new website and planning a couple of CNBC appearances as well as the person who lost so much that he opened his own brokerage and advisory service. How much does it cost to come on CNBC because our man Ashraf seems to come there all the time. I counted last time and Ashraf had more screen time than Obama.
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 15, 2013 18:40
In Thread: EUR
Gold!!!what a move. How can Ben taper when yields are at 2.8% and gold traders know this which is why gold is risen to its 100 DMA.
merlyn2013
Colombo, Sri Lanka
Posts: 0
6 years ago
Aug 15, 2013 18:20
In Thread: EUR
as I said 3400 before 3200. 3400 is imp because of monthly resistance lines and they are far more important than 23 day cycles and 200 wma.