We have our gbp/usd sign for 24hr bearish movement now 
I think you would have been stopped out on the EUR/USD trades given the price action nowâŚ
nothing yet, 6 hours gone by
Not if you managed to swithc to the London session SL of 1.2831 in time - otherwise you should have reentered with this sl in order to stay in the big trend.
EUR/USD just hit 1.2822. Iâm just now getting to looking at this. Iâm not saying it wonât go down, but it hit the stop. GBP/USD is getting close as itâs at 1.6004
If we are following your posts - how would we have known to switch our stop loss?
Damn Mike, not one of your best days I would say
Hi ProsperityFXPro,
I have been reading your posts and it was really interesting.
I am a newbie in the field of forex trading. Though i have knowledge in website development, maybe i can help you in posting some realtime⌠However, i donât have much knowledge in forex trading in which i donât have much idea which books or websites should i readâŚ
As an earlier poster suggested you need to change the title of this thread " Create wealth with my GBP/USD & EUR/USD signals! [B]No losses.[/B] FREE for nowâŚ"
The above 5 EUR/USD trades all got stopped out. Some poor guy on Skype lost 128 pips today with this multiple entry strategy.
EDIT: All 7 GBP/USD trades also stopped out overnight.
Also the revised higher stop loss of 1.2831 reached on EUR/USD.
Is it good money management to move your stop when the market is going against you?
Market today is just not a good day for alot of people. Iâm currently getting wreck in other field as well.
yes again showing off with the wins but losing it all over the time. same old story. is this still the third account you have or is this a new one? wish you all the best to become number 1 on zulu ranking. NEWBIES watch out.
There was no normal technical exit / reversal on the pairs from our shorts last Friday but as stops have been taken out I must take up a position in the market that reflects the bullish nature of recent price action.
PS. I do not have time to post live here - I wish I could. I focus on live skype postings and via twitter. Read earlier posts for more information.
Today we had the following:
LONG EUR 1.2842 AND 1.2836 SL 1.2817 TP to be announced
LONG GBP 1.6013 AND 1.6010 SL 1.5987 TP 1.6061 (INITIAL) BUT STAY WITH TRADE TILL TOMORROW AS IT WILL MOVE HIGHER
ENJOY
PS. Heads up guys - its the bad days that teach you the most and harden you up to become a professional fx trader (y).
Update: GU has pushed lower and giving 2, now almost 3, extremely powerful long signals. SL is 1.5980 and its small right now so if you happen to read this â GET IN QUICK!
guys you know what happened to this one and EU too.
Another 4 trades stopped out. Glad I didnât âGET IN QUICK!â
While I understand the frustration of having your stop loss triggered on several or all of your open trades, what I donât get is why you guys blame anyone but yourselves when someone elseâs suggestion goes wrong? Youâre the one who ended up putting in that trade and clicking on Sell or Buy, so in the end youâre the oneâs responsible for your loss. I donât take any of the suggested trades in this thread (took one .1 lot a month ago, closed it straight away), but if I did and got stopped out I wouldnât be pointing the finger at anyone else. Iâve taken ideas from others though and had a few stopped out, but I didnât blame anyone. Itâs your account and your money, so you control it. Donât go with someone elseâs trade idea unless you come to the same conclusion or understand why they suggest it because then youâll just blame each other and waste your own time. Just my opinion.
I agree if everything that was posted here was guaranteed then we all would be rich. Every peasant on the street would be crawling on this forum and this forum would have more hits than Facebook⌠These are signal and predictions, who the hell knows whatâs going to happen. Itâs your account, your money your responsible for it. Heâs made me some great money in the past and yes I did lose a lot this week but not due to his picks⌠itâs just a situation to trade anyways. If you go crying over 26 pips then you shouldnât be in this game to begin with.
RECAP OF TRADES WE ARE IN (SERIOUSLY BEARISH BOTH PAIRS ALL THE WAY TODAY):
GBP/USD: SELL 1.6006, 1.6010 , 1.6015 SL 1.6024 TP 1.5924*
EUR/USD: SELL 1.2778, 1.2780, 1.2788 SL 1.2797 TP 1.2709*
Trend will not end here, but we will consider taking profits possibly. We are in the third wave of the trend frmo today and so this will be the big one
[09/11/2012 10:46:29] prosperityfxpro: the entries we took on the euro and pound yesterday were âre-entriesâ based on the main trend that began on Wednesday. The pound had a beautiful end of trend yesterday which was the lowest point in the pair yesterday and was also the area where traders took a lot of their profits. Consequently, ALL âre-entriesâ had their stops taken out, while only the original Wednesday short held its stop. Today we have a similar scenario BUT IT IS DIFFERENT ASWELL. Listen up: Today we have had original entries in the following wave of the subtrend, and although the TP areas are still take profit levels, I will be far less inclined to take my positions out of the market at thoses points as quite simply, we are bound to continue very far down on this third wave of the trend (remember, wave 3 is ALWAYS the largest of them all, sometimes massively monstrous). So, to recap - I will AT BEST take only partial profits at TP level reactions, and actually reenter HARD on reentries as today / Monday is where most of the money is at - Thatâs the view I see from my trading desk.
It is NOT just 26pips, dude. It is how many times you lose 26 pips. example, if I have 5000 dollars and trading std lot,that is 260 each trade. I lost 1300 dollars if there are 5 losing trades. You get the idea behind this. (Donât come up with money management and that kind of rah rah⌠ok!!!)
I suppose, Mike has big account or trading others account with big equity. He can enter 5 or6 trades in one move and recover all his losses. My account can not handle that kind of losses. makes sense??
He may be a good trader, but when people are taking trades based on his calls, he should think twice before taking trade calls.
I guess, he also started a paid signal service. I donât know what to call those people, who will pay money to lose money.
Let me put this way, if people take trades based on my call, at the end, it is my responsibility whether they lose or win. The reason is simple; I am the one initiated the thought of entering the trade and people take that.
My recommendation, look at the strike rate. if he has good strike rate then you will have good chances.
if he has more losing trades, he will drain your account by calling trades. that simple.
why we have to consider strike rate; because when you have 100000 dollar account, if you lose 60% of the time, you only make money for broker by giving them trade commissions and your money a bit. You may break even at the year end; but that is NOT the reason you trade with 100k. I hope it makes sense to you.
I still to find a honest, reliable signal provider.
All the best and Good luck people.
btw, this is not to belittle his efforts or written out of jealous; I voiced my concerns because this thread is public. If he only does this in private closed room, then I should not be talking at all. because it is none of my business at that time.