Hey everyone
Anyone go short on GBPUSD @ 1.9550, say 8:30 GMT or so?
Rusty
Anyone go short on GBPUSD @ 1.9550, say 8:30 GMT or so?
Rusty
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DislikedHello everyone
i am taking the usdchf DIBS ....whichever way it wants to take me
anyone else coming aboard ?Ignored
DislikedI have Alpari and the last bar was an IB, where the high was a matching high with the previous barIgnored
DislikedWell....
The 11:00GMT DIBS for GBPUSD short ... stopped out, the CADUSD long is close to stop out. Seems to be a bad day for me. Only one left is the GBPUSD short from 8:32GMT.Ignored
DislikedI wonder why you were stopped out on the second GBP/USD short? I'm still in. The high of the IB wasn't reached yet...
My GBP/USD-Trades:
http://www.xaron.net/dl/fx/2008/dibs/gbpusd_060808.png
But anyway, losses are part of that game. Just trade small enough to survive, let's say, 20-30 losses in a row... Usually I take a risk of 1% per trade (for the whole position).
Regards - XaronIgnored
DislikedI have a high of 1.9543 so far, and my SL was set to 1.9546, I wonder if my broker (IBFX) adds the spread. THat would have been 1.9547, and my SL would have been hit Going to call them now.
RustyIgnored
DislikedOf course they "add" the spread in that case. You see only the BID prices in the chart but the stop loss for a sell order is of course executed using the ASK price...
Regards - XaronIgnored
DislikedThat was me. In the short term anything is possible, but in the long run (not sooo important for this method)...
There must be some kind of intervention today as of yesterday it's almost clear that the FED won't hike the rate this year...
Edit: I'm long in the USD as well... just to ride the waves.
Regards - XaronIgnored
DislikedYeah, that's what I am guessing, I need to remember that when setting Sl, and TP
RustyIgnored
Dislikedan example beside the discussion if the $ is doomed or not, if long or short term - the charts will show the truth to all of us...Ignored
DislikedThat's a popular fallacy in my opinion. Charts only show the past and are good for things like breakouts - prediction support/resistance areas where lot of stop orders are located. But they don't tell you the direction a currency will take. The most important thing (for the long run!) is the interest difference between two currencies as well as the underlying fundamentals for the country where the currency is located...
Regards - XaronIgnored
Disliked....In the short term anything is possible, but in the long run (not sooo important for this method)...
Hello Xaron,
an example beside the discussion if the $ is doomed or not, if long or short term - the charts will show the truth to all of us...
i went into the UJ at 17th of Juli at round about 1.0500 and closed the trade may be 40 pips later, happy to bank some pips. If i had acted according to PC's rules, i would have closed the half and hold the free trade. And added on because of IB's in further sessions - again having free trades. PC: "Every trade has to stand alone" . Until the move today (1.0900) my trade from the 17th would have been about 400 pips, two or three further trades 300 and 200 again.
I discussed with NAL to hold the trade despite it's hard to do sometimes (hello kimmy ) and it is a very strong part of this method to do it - with free trades.
It's not that i worry about pips i didn't make, thats part of the game. But to learn the lesson it's ok to look back and see what was wrong.
And to this method it's very very important to run long tails. (Ahhhh... not to the method, but for your account...)
Regards, MichaelIgnored