Dislikedvery good support at 104.40. wondering if any of the events will blow anything out.Ignored
BTW, I'm assuming EUR will find some support at at 1.5948-39 area, but I assumed a lot of things, incorrectly yesterday.
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Dislikedvery good support at 104.40. wondering if any of the events will blow anything out.Ignored
DislikedYou guys are all braver than I am. Today scares the beejezus out of me.Ignored
DislikedThis finally got hit at 1.0020 for +34 so far. Again not expecting a whole lot though due to the obvious conditions out there today. Parity isnt too far away so just a heads up.
Going to run it as far as possible but protecting before the major events.
Lots of news out today, and Bernanke speaking at 10am est.Ignored
DislikedHi BRV,
Truly great and fascinating thread,
If I have comprehended the system correctly EURAUD seems to hovering around No Brainer setup at the moment.
regards, BondvagaIgnored
DislikedGood question. Using stop losses in general with this technique is going to require some flexibility, as you're basically looking to not get stopped out if there is another significant level nearby. Thats why if you have any doubts regarding a level it never hurts to go in at a smaller position size and scale your way in if it goes to the next level.
For intraday trading I've done stuff like this before. Today as an example, I wanted to play a bounce off of a support level on CHF, didnt like price action, so I closed some exposure, and the rest went against me. When it did, I was able to get out at about breakeven on the trade (partial profits + partial loss).
I hate to say but I usually go into every trade with low expectations. I always nab some partial as soon as I can at a reasonable amount in relation to the trade expectations (trend, countertrend or trend reversal), and if I have enough room, set the stop loss to breakeven asap. It prevents me from not making money and maintaining consistency in terms of profits. My paycheck is about as reliable as anyone working for a salary basically doing it this way.
If the market just completely blasts away a level, and you were completely wrong, dont waste time, close atleast half of it and maintain your composure to think clearly about what could happen next.Ignored
DislikedGood morning,
I think the RBNZ meeting or more specifically the results of this meeting will be the trigger of a potential downswing. Couple this with the obvious TL coming off the highs on the daily chart and I'm targeting 7700/7720 for short entries.Ignored
DislikedLong GBP/USD 1.9960-1.9958
Under normal conditions price should hit this right on the head and make a decent retrace ex any news - its sticking out like a sore thumb.Ignored
DislikedGood question. Using stop losses in general with this technique is going to require some flexibility, as you're basically looking to not get stopped out if there is another significant level nearby. Thats why if you have any doubts regarding a level it never hurts to go in at a smaller position size and scale your way in if it goes to the next level.
For intraday trading I've done stuff like this before. Today as an example, I wanted to play a bounce off of a support level on CHF, didnt like price action, so I closed some exposure, and the rest went against me. When it did, I was able to get out at about breakeven on the trade (partial profits + partial loss).
I hate to say but I usually go into every trade with low expectations. I always nab some partial as soon as I can at a reasonable amount in relation to the trade expectations (trend, countertrend or trend reversal), and if I have enough room, set the stop loss to breakeven asap. It prevents me from not making money and maintaining consistency in terms of profits. My paycheck is about as reliable as anyone working for a salary basically doing it this way.
If the market just completely blasts away a level, and you were completely wrong, dont waste time, close atleast half of it and maintain your composure to think clearly about what could happen next.Ignored