{quote} Not a great start, entered with very small lot ( taken in on News ) will enter again if taken in on normal trading {image}
Although taken into the Sell on a News Spike sticking to my plan, only small lot at present so no harm will be done {image}
GBPUSD [D1; Update] I have now locked in at BE+pips on all the 'shorter term' trades. {image} The GU pair is firing up the chart and about to open 2 more pending Buy Stops @ 1.29395 level but not quite there just yet. Stops are far tighter than preferred however, to minimize an unexpected reversal in PA to the downside locking in at BE makes sense. Just another Octive to the upside and this short term cycle will be really productive. Go the bulls ! Masterrmind.............
{quote} Sounds like a good plan. Masterrmind..............
{quote} Might have miss led you in previous post , taken into a sell on News spike with a small lot size , so will keep the original stop in place, now if I do not get stopped out I will ADD another sell position as it will be dropping in a normal trading condition, so in fact waiting for your Gbp to hit the buffers at 1.2939
GBPUSD [D1 Chart] Closed out 2 more longs in profit. {image} Plan is to enter another short term setup IF price decides to pullback from current levels. If price decides to continue up the chart then my Buy Stops will get triggered. {image} And the floating DD on the 2 current trades will hopefully reduce. Masterrmind.............
You might need your glasses but i've just been to Spec Savers 2 for the price of 1 p.s It's still the original entry so had to sit on DD {image} {image} {image} {image} {image}
MM 16 just using 0/8ths, 4/8ths, 8/8ths & Trend Lines p.s GN is still the trade I was spiked in on News, I sat though the draw down as they did not hit my stop (yet) {image} {image} {image} {image} {image}
{quote} I assumed you would add into the position considering first entry was @ 0.02 lots. Do you have a plan for adding in additional shorts for example at lower levels based on PA or MML's etc ? Masterrmind.............
{quote} Yes, I will add sell's when I see the low of an up bar broken provided its below my original entry P.S It's interesting that you mention the .02 lot size, as you are aware of the ESMA rules and this is a non Major to trade this you get around 10 pence per pip for every £100 margin also because of the stop out rule you need another £100 so absolute bear minimum £200 to trade for 10 pence, hence when I planed the trade I got took in on a News Spike so caution was needed, the good thing is that it let me have a decent stop, now i have to decide...
{quote} Agreed, and ESMA is coming to a Broker near you, Being honest not sure that Non majors are worth the time, effort or money to play, to me the key is better prep work before entry and if possible a positive swaps, It's a big Octave so how important are the levels and then the sub Octaves and even the use of basic Trend Lines could play a part, assuming that scalping is not the agenda. Although I get Murrey I think if not used with care you can at times find your self standing in front of a train not knowing how fast it's coming at you {image}...
