1st TP hit, possible move to any of the rectangles, then short.
- #26,442
- Jun 26, 2018 8:29am Jun 26, 2018 8:29am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #26,444
- Jun 26, 2018 8:34am Jun 26, 2018 8:34am
- Joined Sep 2017 | Status: Trader | 4,361 Posts
{quote} You bought at 1.1810 and sat through i don't even want to know how much drawdown on your positions (-2000 pips?? or more?) and you are worried about some 'high risk trades some traders take'?? Ok...
Thanks for taking a look at my post Bud. Shows that someone has looked at my writings
..Not sure where you got your estimate from but I was 800 give or take pips in drawdown. The fact of the matter, my available margin was well over 3000% pips throughout this process and even if it had gone over 2000 pips in drawdown I would still stay within acceptable margin levels. And even if price went down further south I would have waited for a retrace to enter sell trades. Retraces always happen and trust me, a level head is always better than trading out of panic or fear. I sleep well and I enjoy my weekends. With small lot sizes I am able to regroup and make well informed descisions. This is a marathon and not a race. Just imagine if I got it wrong with 1 Dollar lot sizes I would have slashed my pulses by now. Yes of course the right thing to do will be to take stop losses if I was trading big lot sizes. The problem is that even if you take stoplosses you start trading out of fear and pressure to make up your losses and mistakes are inevitable. Please, I am not against stoplosses and all of us develop our own unique trading styles as years go by. I just feel more comfortable with my trade managment style. Not for all but I am able to take my time in making trading decisions. I do use mental stoplosses. Also, in hindsight I trade many other currency pairs so my overall position was never looking as bleak. If I get one currency pair wrong I am bound to get it right in another. Diversification is key.
Anyway enough ramblings.
Have a great week.
Cheers
Trade to trade another day
- #26,445
- Jun 26, 2018 8:39am Jun 26, 2018 8:39am
- Joined May 2010 | Status: I'M NOT SIGNAL PROVIDER | 1,457 Posts
A little beginner trader since 2006
- #26,446
- Jun 26, 2018 9:04am Jun 26, 2018 9:04am
- Joined Jan 2017 | Status: Trader | 1,157 Posts
{quote} Stillearnin, Thanks for taking a look at my post Bud. Shows that someone has looked at my writings
It sounds like you have that covered so...don't mind me! Thanks for explaining your MM ways and you have a great week as well!
- #26,447
- Jun 26, 2018 9:16am Jun 26, 2018 9:16am
- Joined May 2011 | Status: Trader | 1,580 Posts
Not liking my trade right now. The chart has that look. You know that look (or you should know it). Looks like the movers is getting ready to take this long. And I am short from 1.1577. Just .1 lot short so no worries about loss. YET. I will add another .1 lot in Asia session and will see if there are signs that the movers are on the long side, or, if this is just a pause in the downtrend. {image}
On serious side, I think more USD strength ahead so this move up is a trap by the movers and eventually will head back down (fundamentals are against this up move). But I am not adding as I have strict rules on when to add to a loser. Adding to loser when there is an M or W is not allowed.
Ecclesiastes 1:9
- #26,449
- Jun 26, 2018 10:31am Jun 26, 2018 10:31am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
Shorting the break of a Momentum....{image}
Update:
TP1 hit - 50% booked for profit, Trade is riskfree, rest can run...
you are not expected to understand this
- #26,450
- Jun 26, 2018 10:33am Jun 26, 2018 10:33am
- Joined Aug 2012 | Status: Fundamental & Technical Analyst | 1,910 Posts
{quote} Not sure about easy or hard mate, but surely I have made my money from my fundy analysis ...shorted from 1.1717 Provit and closed 85% now at 1.1655. left over TP at 1.1645
Done!
final profit booked. Stay Green
Trades technical moves enforced by fundamentals
- #26,451
- Jun 26, 2018 10:35am Jun 26, 2018 10:35am
- | Membership Revoked | Joined May 2017 | 575 Posts
Time to go EUR/USD all the way down to 1.13 then 1.05. Europe is about to collapse despite the trade war with US.
When you're not sure Short or Long - toss a coin! Chances are 50% !!!
- #26,452
- Jun 26, 2018 10:58am Jun 26, 2018 10:58am
- Joined May 2010 | Status: I'M NOT SIGNAL PROVIDER | 1,457 Posts
{quote} Let me remind the call I made 16 hours ago. Europe will be a big loser against US. I already made my pips on that collapse and will many more. Cheers!
)
A little beginner trader since 2006
- #26,455
- Jun 26, 2018 12:36pm Jun 26, 2018 12:36pm
- Joined May 2010 | Status: I'M NOT SIGNAL PROVIDER | 1,457 Posts
A little beginner trader since 2006
- #26,457
- Jun 26, 2018 12:53pm Jun 26, 2018 12:53pm
- Joined May 2010 | Status: I'M NOT SIGNAL PROVIDER | 1,457 Posts
A little beginner trader since 2006
- #26,458
- Jun 26, 2018 12:57pm Jun 26, 2018 12:57pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #26,460
- Jun 26, 2018 1:11pm Jun 26, 2018 1:11pm
- Joined May 2010 | Status: I'M NOT SIGNAL PROVIDER | 1,457 Posts
A little beginner trader since 2006