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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
Went for another short in USDJPY as I see 96.00
EURUSD may retest 1.3400 but best to use that as a stop for shorts than a final target for longs.
AUDCAD to continue outperforming
Ashraf
I trialled AL's premium service first quarter of this year. I decided 3 months would provide a fair appraisal. I wanted to see first hand how he integrated the short term fundamentals with his technicals. I was not there for the trade set-ups, I am too old in the tooth to change my own methodology.
He was on a wave 3 up with his trade calls. The first month I was amazed at the success ratio and that degree of success is always an alert that wave 4 down comes next. The wave 4 was not too painful as it happened.
I think with any signal service traders should pick and choose which set-ups they wish to take, which ones fit their own analysis and perspective. Take responsibility for your choices and don't be too greedy. If a trade is going nowhere get the hell out early. You can always re-enter. Never expose more than 2% of your account to all open positions. That rule should be set in stone whatever type of trading you pursue.
Just because AL will sometimes add multiple positions to a specific symbol shouldn't mean you have to to risk over trading. If that idea goes wrong you really don't want to be in multiple positions with it. This comes down to "Greed".
For complete novice traders who have not even mastered basic classical chart analysis they have no business following ANY signal service. Sheer folly to think there is easy money for no work input. The premium service is more ideal for intermediate level traders imho. Value can be obtained just following the thought trains, you don't have to take all or any of the trades.
$90/month is a very small investment if you manage to learn something from it.
first, stop trading
figure out what s wrong
either the analysis is wrong or the market is wrong
but more often, execution is the problem
make changes, try an alternate strategy
work small, build confidence
in random market movements, human emotion always leads to losses
if you r a small trader, there is no need to jump in everyday, and come out a loser. The emotions will get you to be small in profit taking and big on losses.
in directional movements, you can make money, specially when a major macro trend changes, typically via crisis or central banks
examples:
- EU crisis troughs last three summers
- Japan election win last year
- US monetary stimulus 1,2,3
these have clearly resulted in major moves
AL is good in these things.
better do no trades than bad trades.
gambling is good for cansinos - atleast there is some entertainment around.
Loosing 50% of your 200k is 100k.
To make that back from 100k, you need to get 100% return.
Impossible for an emotionally driver trader.
good luck