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EURUSD only

  • #40,821
  • Sep 7, 2018 6:44am Sep 7, 2018 6:44am
TESLA 3 is short since yesterday.
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  • #40,822
  • Sep 7, 2018 6:48am Sep 7, 2018 6:48am
Quoting Ata-Turkoglu
{quote} Haven't opened since wasn't watching.. PO didn't trigger with 1 pip.. I might cancel if price retests earlier Aggressive BLUE TL breakout. If so I will start selling again.. This drop was supposed to happen at NFP and not now.. So plans can change.. Stay Green
Hah I figured there'd be strong resistance at 1.1600/1.1599 hence I closed my short. Was just playing with the buy order (tight initial SL at 1.1595). That comment about missing the entry by 1 tick was just a tease

Anyway SL moved to 1.16078 (I'm trailing M1 swings) so either way I'm a happy man.
You hesitate, you masturbate.
  • #40,823
  • Sep 7, 2018 6:49am Sep 7, 2018 6:49am
;-)
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www.sme-fx.com
  • #40,824
  • Sep 7, 2018 6:49am Sep 7, 2018 6:49am
The trade for today NFP in 40 minutes
  • #40,825
  • Sep 7, 2018 6:50am Sep 7, 2018 6:50am
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  • #40,826
  • Sep 7, 2018 6:53am Sep 7, 2018 6:53am
Quoting noursinno
{quote} same here
yes bro ... but after I see candle divergence ... I feel .... I am in right direction ..... even though the price has just broken the strong trendline ... many may think that the price will retest against the trendline after the breakout
The Average Discount Everything
  • #40,827
  • Sep 7, 2018 6:55am Sep 7, 2018 6:55am
Quoting mbrown
{quote} To get an ROI like that you have to take extreme risk. To take extreme risk with a respectable account size means you're probably lacking knowledge in a key area. Losing 90-95% of your account in one trade can make you either revenge trade leading to bankrupcy or worse; or reflect and change the trading approach. I changed my approach. If I ever have a silly wager it will be with a micro-lot, if I ever have the desire for extreme risk then it is with £1 in a nano-account (it surprisingly easy to turn £1 into £10). My real trading is done...
Hmm that's very true - but it depends on how you look at margin/risk management and trading psychology IMO. I think 'over-leveraging' is a very relative term.

For me, I always start the day with say between $250 to $500 and start my day with 1 standard lot ($230 on margin because my broker is 1:500).

I'll quote dig on this one:

Quoting digger1
Thats why when you over leverage you do not play in the middle ,, you will get lucky here and there ,,but look at how much would have been made over leveraging from the tops if you wanted to sell ,,as opposed to a sitting duck in the middle,, I am not advocating over leveraging by the way ,,it is not sustainable in the long run ,, not being exposed as long as Monty has been exposed to the mkt ,you hit your marks get in and get out
Which is why I always 'snipe' and my SL is very tight (usually 3 to 7 pips) and I try to BE or BE + Broker's Commission ASAP. With every trade I scale up and down my lot sizes accordingly (power of compounding). At the end of the day before I sleep, I withdraw all profits and leave behind $250 to start the new day. If I have consecutive losses and my equity goes down to a 2-digit sum, I treat the rest of the trading day as 'practice' to work on my analytical skills and get my head back in the game and ready for the next day. Either way I'm only risking $250 each new day. I haven't actually got to a point where my equity reaches 2-digits (*fingers crossed*, hopefully never), but I feel like in terms of psychology, this fits me better than the traditional "risk 1% of your account" thing? If I put 100k into my balance, that's 99k untouched that could be put into better use - car instalments, mortgage payments, etc. From a personal standpoint, although I also know of others who will think similarly, having such a huge buffer will also cloud my judgement - if a trade does go 7 to 10 pips against me, chances are I'm screwed. But with such a huge buffer I might get into that 'revenge trading' mindset and leave the trade open hoping it will reverse and go in my favour (which never happens 99% of the time ) and I'd end up losing more money.

Just my 2 cents, if it makes sense.
You hesitate, you masturbate.
  • #40,828
  • Sep 7, 2018 6:57am Sep 7, 2018 6:57am
My previous Pending Order has been cancelled!

Will try to sell as close as it gets to 1.1628

Stay Green
Focus only on what truly matters!
  • #40,829
  • Sep 7, 2018 7:00am Sep 7, 2018 7:00am
nfp trade plan
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  • #40,830
  • Sep 7, 2018 7:00am Sep 7, 2018 7:00am
Quoting engweijie
{quote} A wick grazed 1.15999 earlier so I don't know if you manually opened but I'm gonna follow with a small lot size (beer money) just to see. New buy at 1.1603. Will BE asap before NFP. Edit: SL at BE +0.7 pips to cover my broker's comission. Maybe it will retest 1.159x again or maybe it will bounce up to 1.162x who knows. Either way no risk to me - off for dinner. May my beer pay for itself tonight
Was trailing tightly so forgot to update: Just got stopped out at 1.1611 (+8 pips - my beer has been paid for, thanks Ata for the signal )

I see 1.1615 and 1.1620 as potential areas of resistance to enter shorts from. But NFP news might just cause a spike and throw all that out the window so if I can scalp and BE fast I will, if not I should probably just enjoy my dinner and worry about charts later lol.

Hope everyone is having a good end to the week
You hesitate, you masturbate.
  • #40,831
  • Sep 7, 2018 7:01am Sep 7, 2018 7:01am
An error on my chart above.
It's sell limit instead of sell stop.
  • #40,832
  • Sep 7, 2018 7:01am Sep 7, 2018 7:01am
Quoting engweijie
{quote} Hmm that's very true - but it depends on how you look at margin/risk management and trading psychology IMO. I think 'over-leveraging' is a very relative term. For me, I always start the day with say between $250 to $500 and start my day with 1 standard lot ($230 on margin because my broker is 1:500). I'll quote dig on this one: {quote} Which is why I always 'snipe' and my SL is very tight (usually 3 to 7 pips) and I try to BE or BE + Broker's Commission ASAP. With every trade I scale up and down my lot sizes accordingly (power of compounding)....
lol
rat
  • #40,833
  • Sep 7, 2018 7:01am Sep 7, 2018 7:01am
Quoting engweijie
{quote} if it makes sense.

Sounds like a good low risk approach. If you have £100K available but you give yourself £250 a day to trade, well that 0.25% VAR. We shouldn't confuse trading capital availability and capital in the account.
  • #40,834
  • Sep 7, 2018 7:04am Sep 7, 2018 7:04am
Took +29 profit. Waiting for NFP.
Only real values: Valid rules, discipline and experience.
  • #40,835
  • Sep 7, 2018 7:05am Sep 7, 2018 7:05am
Quoting PatienceFx
nfp trade plan {image}
sell limit 1.16190 sl 15 pips
  • #40,836
  • Sep 7, 2018 7:06am Sep 7, 2018 7:06am
Quoting mbrown
{quote} Sounds like a good low risk approach. If you have £100K available but you give yourself £250 a day to trade, well that 0.25% VAR. We shouldn't confuse trading capital availability and capital in the account.
Yes sir.
You hesitate, you masturbate.
  • #40,837
  • Sep 7, 2018 7:06am Sep 7, 2018 7:06am
Scalping a quick long from avg 1.1606 right now, gotta love those pre-news ranges
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niemals aufgeben
  • #40,838
  • Sep 7, 2018 7:08am Sep 7, 2018 7:08am
Quoting NovaFX
Scalping a quick long from avg 1.1606 right now, gotta love those pre-news ranges {image}
Eh, I'm out. Trying to work on my greed management, gotta flex that muscle
niemals aufgeben
  • #40,839
  • Sep 7, 2018 7:08am Sep 7, 2018 7:08am
New Pending Order, Sell Limit: 1.1628

SL: 20 pips
TP: Open

Stay Green
Focus only on what truly matters!
  • #40,840
  • Sep 7, 2018 7:10am Sep 7, 2018 7:10am
Sat here wondering if the NFP is going to be good to me. Woke up this morning and equity up 7% for the week. Right now it is 1.5% up for the week. It might be one of those Fridays!!!!
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