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- Alkatraz replied Feb 9, 2015
Glad to hear it. I took this too Good luck boss!
- Alkatraz replied Feb 5, 2015
What are your thoughts on closing UJ with a small profit now? Or at least moving SL to BE. Momo seems to be gone. For me I could get myself back to +/-0 pips and you could protect your gains. Opinion?
- Alkatraz replied Feb 5, 2015
^This too!
- Alkatraz replied Feb 5, 2015
If I was in your position (+30 already) I would not take it due to the move upwards already being +80pips. Unfortunately I was currently on +/- 0 pips so I took it and lost 6pips within 2 mins....... So to answer your question.....no, its not wise ...
- Alkatraz replied Feb 5, 2015
Cant ask for more than that chief! Congrats! In regards to current UJ, did you get in on the first bounce or wait for the second one? I waited for the second as I did not like the sideways momo of price on the first entry. The second one looked MUCH ...
- Alkatraz replied Feb 5, 2015
What are peoples opinions of taking a second stab at a trade if the first bounce is missed. Such as was the case for me on this EU trade. my buy order did not trigger for some strange reason so I missed it. If another nice 40EMA bounce comes along ...
- Alkatraz replied Feb 5, 2015
My EU buy order didn't trigger and it would have just about hit +20 already :'( Hopefully UJ can make up for it....fingers crossed!!!
- Alkatraz replied Feb 2, 2015
That's some more gold right there!
- Alkatraz replied Feb 2, 2015
Lol! Hindsight is always best. I actually would have just been stopped out on that one anyway and probably wouldn't leave the trade open for 5+ hours on the off chance that the USD news helps me out lol!
- Alkatraz replied Feb 2, 2015
EDIT: GO5 answered my question whilst I was asking it....
- Alkatraz replied Feb 2, 2015
We can put it to bed for now and fx-Tycoon can provide his thoughts whenever he reads back through it all. I agree that we shouldn't derail his thread in anyway if possible.
- Alkatraz replied Feb 2, 2015
I am happy to let the MACD change direction for a short period of time. There are plenty on instances where it flips and then flips straight back. When it flips and keeps going for 5+ mins, that's when I might start looking for an out.
- Alkatraz replied Feb 2, 2015
Whilst I respect that fx-Tycoon has set rules for his system that he believes work and that he is happy with, I will always reserve the right to do as I see fit based on the information that I have in front of me. Setting an arbitrary 20pip target ...
- Alkatraz replied Feb 2, 2015
I closed my UJ out for +3 as well. Had three goes downwards but couldn't break so I let it go. +3 is better than -5.5
- Alkatraz replied Feb 2, 2015
I walked away from the computer for a few mins and missed this one but the setup looks very, very nice. GL!
- Alkatraz replied Feb 2, 2015
If I had to nitpick the negative that I see with the EJ was the sideways momentum. The UJ setup looked very nice though so can only chalk that one down to bad luck.
- Alkatraz replied Feb 2, 2015
Short U/J - 5.5pip SL EDIT: added chart
- Alkatraz replied Feb 2, 2015
As Mr MA said you need at least a 10pip move after the 5EMA breaks the 40EMA (personally I prefer 15/20+ unless I can get a VERY small SL). Price also needs to have swung back a decent amount from its previous high/low. In your trade the price only ...
- Alkatraz replied Feb 2, 2015
Exactly. Sl should be the low of the candle/s that break the 40EMA. Minimizing your SL is the BEST thing that you can do!
- Alkatraz replied Feb 2, 2015
Only that you should have only lost 4 pips on that one. SL should be on the low of the candle/s that break the 40EMA. Check out Crete's chart. EDIT: I was WAAY too slow with that reply!