I 'stumbled' across this a long time ago - while I was listening to an interview with the CEO of a major investment company. He was being asked 'so how much did you lose because of the drop in stocks over the past couple weeks' and his reply basically was that they did not lose ANYTHING because they NEVER close out a 'losers' i.e. if they see that the market is going down they will 'hedge' their positions and wait for the turnaround. Like I said - this works with stocks. Basically it seems to be based on the principle of 'only ever going long' (like in the good 'ol days) i.e. you buy stocks - they go up - you sell them - not like today where you can 'sell' (or go short) something that you never 'bought' in the first place.
Dale.[/quote]
ok Dale i agree with u about these compnay and how they work but u know we can't act like them as we r not like them and to hold a postion is not good as it will waste time and u probebly need this money to oepn another wining postion rather than keeping them lossing and u don't know it might be lose more and more.
Like the cdn/usd it was at some point this years 1.18 and when it went down it never touches the 1.18 or even 1.09 again it went down to 1.03 now!! and it touches the 1.08 for a day or 2 and retrace back to the 1.03.
I think we need to oepn the postion in the perfect time and close it in another perfect time inorder to get some pips out as a profit.
I think Dale we should concentrate on 5 or 8 pairs and that it coz when we do that we will have the feeling of the market and we will be able to concentrate on them rathar than concentrating on the 44 paris and by the end of the day we will never concentrate to any of them.
one more thing i think we should apply one of the indicators that can qwork with the PSAR and even if this indicator will not make us open one of the postions that if we were to open it we will get lots of profit but it might really better as it will tell us the false PSAR from the right ones.what do u think?
I mean the reson of all of us that we trade in forex is that we want to make good profit and to minmize our loss as well if our profit will be 50% every month and the loss will be 10% 0r even 25% that will be better than having the profit in one month 118% and another month the loss can be 100%!!!
Put it this way. I feel that u and me like a boxerS when we have a trade (fight) we will never avoid lots of punches but we have to have lots of punches against the other boxer to win the fight so if we try to avoid lots of punches that is coming against us that will be a bouns coz we don't like to have a fight and win on the other hands your face and mine is full of pain and scratches!!! we neEd to avoind all these scratches ( i will be happy to have just blood!!)
Regards,
Akram
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