Maybe i wont lose as many PIPs now!

Thanks to those who helped me with my last thread of

‘i bet i lose more pips than you’

I enjoyed the epic debate of
’my dads bigger than you dad’
Gave me a bit of entertainment

That said i did learn from it, i have since spoken to my broker and run through a few things, it appears my biggest issue according to them is that i am completely oblivious to fundamental analysis, which of course is my biggest downfall, i was trying to trade purely on the technical side, which i understand now is financial suicide!

from the previous thread i do agree with both of the mass-debaters, in one sense trading is not just luck, as price action clearly does follow patterns and you can use this your advantage, but i still find it is just an educated GUESS!
i liken it to a game of poker.
There is a element of luck involved whether your cards come out or not, you can have the best hand in the world but if your cards fail to show you crash and burn, the same happens in trading as far as i am concerned, you could have what looks like the perfect storm occuring in a trade where you think
’‘hmmm i m gonna make a killing here’‘
as all your indicators point in the same direction, this is where i screw up big time, i dont look at the fundamentals.
Take for instance all the other cards in a deck as the fundamentals, if you ignore them you don’t really have a clue what is going on as you can not figure out the probability of whats coming next, say for instance i have pocket rockets (a pair of aces for those not in the know)
My hand is strong, but there are two other aces STILL left in the pack, but if there is five other people playing two of them may have my other aces, where as if i were playing heads up (against only one other opponent)
The chances are that they have not got as strong a hand as me, so it looks like i’m going to kick their butt, but as all poker players know, you could have what looks like an amazing hand even in heads up and still get screwed by say (3 of a kind in 2’s)
The same in applies to trading, you can try your hardest and sometimes you fail because there is no definate way of telling exactly whats going to happen, so far i have learned in trading that you should only play the game when the odds are in your favour like poker and get out as soon as it looks bad, fair enough, sometimes if you chase a card it’ll come out, but more often than not, you will just lose! another thing i find with trading is that ultimately is a 50-50 chance.
Think of it like this
’ the price is going to either go up or down from where you went long or short '
So the coin flipping idea would be interesting to look at, heads go long, tails go short!

oooh i’m gonna be hated for that comment, thanks again peoples for replying to my last post, i shall take into account what has been said, especially taking a look larger time frames, maybe i will become more skillfull as a result, or maybe it’ll be just down to blind luck, who knows!

There are trading systems that work…with a high win ratio. The problem is people are not disclipined, and have no patience.

I have a system that is basically 2 emas…and I haven’t had a loss since early last week…90% win ratio lately. Forex is not random…you dont have to flip a coin. In fact it is quite the opposite…when you read it right, you can predict things with high accuracy. Then you just have to be patient and have a solid system.

Well feel free to share : )

I uderstand that FOREX does follow patterns as it has been proven time and time again,
do you also pay attention to fundamental analysis or are you strictly technical?
How does your system work with the two emas? Do you just wait about for a cross-over on a larger time scale? I would like to know how you trade so i can incorporate it to what i do and up my chances of succeeding, any help what so ever is much appreciated even if i fail to produce consistent results in the system you use, at least it will aid me in seeing what not to do, maybe you can even direct me towards another system as i am capable of following strict rules, i’d rather follow strict rules and lose on small trades so that later on down the line when things pick up and my trades are larger i can learn from my results!

It’s all here…

Thanks i shall take a look! I’ll let you know how miserably i fail ha ha, thats about the only thing i’m good at with regards to trading at the moment!

I bet ya don’t really play poker, now does ya?