still holding some of that old dibs. i'm gonna try adding to my position instead of taking profit off.
she was up over 600 pips at one point
she was up over 600 pips at one point
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DislikedLong tail is a reference to being an Alpha trader, that is traders who are able to allow trades to mature well beyond the reward point that most get out at. For example- most aim for a Risk to Reward scenario of say 1:2 so they risk say 30 pips and aim for 60 pips. A long tail trader is looking to hold a trade well past 20 x risk so for a 30 pip risk they look to achieve in excess of a 600 pip reward.
It is also one of the important aspects of having a lower that 50% win rate as having a few trades that run with longer tails can maximise the growth....Ignored
DislikedThe only real issues I had with PC and hourly DIBS, and this is really just my personal bias, is all the sitting around I had to do waiting for an IB to form on the hourly chart (getting up @ 2 am and just sitting in front of the computer was killing me) and then not being around later in the day to add to the position when another IB formed in the direction of the trend.
Hence I moved to daily charts so I never miss an entry point. I have actually adujsted my sizing technique - more of a fixed fractional approach and no longer take half off at...Ignored
DislikedTook the IB for the GBP/USD (my pair of choice this week) short and have just secured 1:1. I took the 1:1 at the time because this pair is inside the high and low created Monday (ranging) and I think we will break the low but I am not counting on it. Still it has some room south to gain some more pips before hitting the low so that is a plus.,
RazorIgnored
DislikedThe only real issues I had with PC and hourly DIBS, and this is really just my personal bias, is all the sitting around I had to do waiting for an IB to form on the hourly chart (getting up @ 2 am and just sitting in front of the computer was killing me) and then not being around later in the day to add to the position when another IB formed in the direction of the trend.
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Dislikedi showed up a couple hours too late for that one. nice one.
which time zone are you in?Ignored
Dislikedyes sir. thats how i feel i woke my tired ass up and saw a golden dibs on gbp/usd that i missed by a couple bars. at least razor (the other one lol) got it!
could DIBS on monday/tuesday be more valuable than dibs later in the week?
if the eu moves X amt per day, do people look at the # of pips it moves per week? if so then wouldn't monday and tuesday dibs get you to FTT faster, and be safer with nicer payout as a result?
just an idea that i just thought of would love to hear what you guys thinkIgnored
Dislikedgoal of trading is to compound your account and not picking highs and lowsIgnored
DislikedThe power of IB's can be great, but it can be boring and flat too, but right at the moment there is nothing flat about some of the positions i am in,
i have 4 positions running on the aud/usd at the moment, the first was an 4hrIB way back at 8930 last friday, if you where back testing you would look at it and say it didn't work, but it did and is up 800 pips, oops sorry over 800 now!!! this one trade with its risk of 30 pips on the 4hr, is now over 20:1, and that is 1 position, i have another 3 as well, albeit smaller, but i have taken more off...Ignored
DislikedThe government annouced last week that they are drawing up plans to tax the mining sector 40% of the profits. This is ontop off all other taxes that are already implemented and while it hasnt been passed yet alot of the mining sector is putting on hold further developments which is taking investors out. Alot of the large mines have had huge drops in stocks and the ASX which has been flying since the Sub Prime lows has dropped almost at the same rate. Stupid goverment.
So this could be the tip of the iceberg. If it goes ahead then I would...Ignored