How Many Bottom Pickers Got Rocked This Week.

[lolpie]

What exactly is a bottom feeder?

[Simy]

Originally Posted by lolpie

What exactly is a bottom feeder?

My best guess and the way I interpreted the question is sombody who is trying to bick the bottoms, or the end of a run... For example waiting for support and resistance lines to be tested and hold true (or ignoring the trade if they fail) They failed this week, kept me out of a few trades because I wasnt sure what the market had planned.


for example look at the GBP/USD on the daily chart... It looked like it was going to bounce where that support was... it just blew right past it though... I was waiting for it to turn around and it never did.

[lolpie]

Really? This was one of my most profitable weeks lol, my account went up 137%

[Simy]

I didnt do badly, I just could have done better but didnt feel like taking the risk. I was down last week... Now I'm up 41.55% since I opend my account.... Not bad considering I was down 14.77% last week.... First two weeks of trading -- I'm happy so far.

[pablopluto]

I think those people who were counter trend trading(trying to pick bottoms). learned I mighty big lesson the trend is your friend price moves where it wants to not it should do this or that. I made a killing this week because I didnt say the Euro was gonna bounce back. The charts told me where the price was going to go not a PP or support line. Chalk it up as a lesson to not anticipate the market and use stops.

[KENNETH LEE]

I was in going the wrong way intially, but turned it around as it was heading for further low. Made most of it back and then went short late friday and just closed that one for 83 pips.. It was stilling going down at closing time so decide to take the risk.. Paid off this time never thought it would move that much though. I guess without some news to turn it, might still be a short to start the week..

[Yarcofin]

I lost 29% of my account this week... can anyone top that? lol

I'm not even going to trade this week... I've got to get my head back together.

[Simy]

Originally Posted by Yarcofin

I lost 29% of my account this week... can anyone top that? lol

I'm not even going to trade this week... I've got to get my head back together.

Is your sig total a running total or is it week to week, eg if its 10% week one and 15% week two, is it just 15% up total, or is it 15% more then 10%?


Did you loose 29% by getting emotionally wrapped up, or is it just not a market for your system, or what? I'm just curious -- I look up to you...

[lolpie]

Oh damn. I opened like 8 trades an hour ago and about half of them are already at the -50 pips mark. Not a good sign

EDIT: Simy, how did you come up with such a random number for your starting deposit?

[4xStar]

Hey Simy, I like your current stats posted at the bottom of your posts .. you sound pretty young, are you a teenager? If so, good for you to get started in forex so early, you should be retired in style by 28

Are you trading penny-a-pip lots? It sounds like your account balance is too small even for micro lots. Which broker do you use?

Good luck & keep us updated.

Abner ... find a rock to crawl under, and stay there .. please.

Oh and last week ... I overstayed in one trade but then eventually got on the right side of things. In any case the events led me to find a great new trading strategy on these threads (the one used by Jo & Tess) which I shall be testing over the next few weeks. It is amazingly simple, and I do like simple! Trading that way last week would have kept you very safe