I am long on aud/cad at 1.0469 TP 1.0531 IB today. Sl at 1.0434.
Better Luck next time!
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I think trading IB's both ways could work but I think Roman would say why do it when you're rolling in the pips already with the trend...
I feel a bit left out since I choose to only trade just the 6 major pairs plus e/j and g/j. Missing some of the action, but I think that might be good too.. teach me some patience.
nubchai, i think there might be some extra pips to be had if we do trade the high and low of each IB (bracket every IB with stop orders).. I did a quick visual backtest of e/u and it looks like at least 20-30 pips are always there, sometimes 100+. While this appears good, a solid TP would be hard to calculate. Also, with the added potential losses of 30...
This one is Very interesting Trade. What to do? Long or short? Pl. opine.
Eur/Cad to short at 1.3898 TP at 1.3810 for possible 88 pips? OR Long at 1.3995 since it is Closed on 50 EMa!! Have you noticed that? Pl. opine.
Last 5 Daily bars are in Downtrend BUT--- Last one is a green one!!
What to do??
I was just putting in some stop orders and I had a couple old ones I forgot about, and they were going the opposite way to my new orders. Anyway, if your broker is a U.S. broker like mine, then it would be impossible to have a buy stop and a sell stop at the high and low of an IB as the mt4 will just give a 'no hedging allowed' error. Some people were thinking of an add-on countertrend deal, by maybe placing stop order at high+low of each IB. I guess the only guys who care about this would be those of us lucky enough to live in the USA...
I had a ucad long that I had placed on 9-2. It stopped out this morning for 150 pips. This is where I'm not sure what the rule is. So after looking at the chart I re entered another long trade. As for my stops I wasn't following the bottom of the last candle rule. I'll have to go back and look at that. I think my eye balling and adjusting the stop resulted in too tight of a stop for a daily trade. It's hard to not lock in profits though
Last night I took the GJ short trade with a 30 pip SL. It got stopped out. I place a...
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