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(binned per thread starter’s request) 29yrs Trading & Still Here

  • #321
  • Oct 3, 2022 10:31am Oct 3, 2022 10:31am
Crazy moves. How do you protect from such. Having stop losses of -1000 Pips every time?

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  • #322
  • Oct 3, 2022 10:52am Oct 3, 2022 10:52am
Quoting lddd
Crazy moves. How do you protect from such. Having stop losses of -1000 Pips every time? {image}
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I know, it's unfortunate, but that's your broker not the market, check out the same time on mine!
  • #323
  • Oct 3, 2022 11:02am Oct 3, 2022 11:02am
Quoting chipsngravey
{quote} {image} I know, it's unfortunate, but that's your broker not the market, check out the same time on mine!
I'm talking about last Wednesday as you can see from the timeline of my posted chart image.
  • #324
  • Oct 3, 2022 11:09am Oct 3, 2022 11:09am
Quoting lddd
{quote} I'm talking about last Wednesday as you can see from the timeline of my posted chart image.
DOH! I missed that bit, i'll have another look
  • #325
  • Oct 3, 2022 11:09am Oct 3, 2022 11:09am
Quoting lddd
Crazy moves. How do you protect from such. Having stop losses of -1000 Pips every time? {image}
Hi Iddd, that was last week and it was only 300pip range not 1000pips. you need to check your broker coz thats not right. i marked it in blue on my chart. is that the day your talking about ??
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  • #326
  • Oct 3, 2022 11:11am Oct 3, 2022 11:11am
Quoting lddd
A little black (monday) humor. {image}
a J.O.B is sometimes better than trading thats for sure
  • #327
  • Oct 3, 2022 11:14am Oct 3, 2022 11:14am
Ok Iddd, yeah checked it out for the correct time, mines still tradable for the one minute chart. Looks like a big clearout by your broker going back to the low of the 26th.
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  • #328
  • Oct 3, 2022 11:16am Oct 3, 2022 11:16am
Quoting T721
{quote} Hi Iddd, that was last week and it was only 300pip range not 1000pips. you need to check your broker coz thats not right. i marked it in blue on my chart. is that the day your talking about ?? {image}
i speak about last Wed, 28/09/22. On my chart GMT+2 at 13:00 I get a 130 Pips M1 bar.

Not sure what the entire daily range has been.

I am not sure how to protect from these unexpected moves. I checked the calendar page and I couldn’t even found one red flagged news event for that day.

Best I can think of is to always have the stop loss pre-set in at broker side and hope you won’t get slipped to a margin call.
  • #329
  • Oct 3, 2022 11:17am Oct 3, 2022 11:17am
Quoting lddd
Crazy moves. How do you protect from such. Having stop losses of -1000 Pips every time? {image}
For starters I suggest you get off the 1 Minute TF.
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #330
  • Oct 3, 2022 11:22am Oct 3, 2022 11:22am
Quoting lddd
A little black (monday) humor. {image}
MY GRID. Markets are NOT random.
  • #331
  • Oct 3, 2022 11:28am Oct 3, 2022 11:28am
Quoting GPips
{quote} For starters I suggest you get off the 1 Minute TF.
Well the time frame doesn’t really matter. You trade price at time. I speak about how to protect from large unexpected price moves.

Even while swing trading and having factored in way larger stops, say -100 Pips, such increase in volatility in no time might have negatively affected you.
  • #332
  • Oct 3, 2022 11:47am Oct 3, 2022 11:47am
Quoting lddd
{quote} Well the time frame doesn’t really matter. You trade price at time. I speak about how to protect from large unexpected price moves. Even while swing trading and having factored in way larger stops, say -100 Pips, such increase in volatility in no time might have negatively affected you.
It's all part of the game. 1000 pip spike's are far and few between and they don't happen every day except maybe at roll over. If you have figured out your edge in the market & if you are using proper R/R with sound money management then you have nothing to worry about. Put the odds in your favor and Trade like the casino! In the end you should be coming out ahead. The house always wins & you should too! Start thinking & Trading in probabilities. Stay out of High impact News, you don't need that shit in your life.
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #333
  • Oct 3, 2022 12:18pm Oct 3, 2022 12:18pm
Quoting GPips
{quote} It's all part of the game. 1000 pip spike's are far and few between and they don't happen every day except maybe at roll over.
I broadly agree with you. I'm just trying to understand if there's a way to protect myself from such unexpected spikes. I take care of the news, at least all the red flagged once you can find on the calendars. However at times i see large spikes even while there is no single sign of news.
  • #334
  • Oct 4, 2022 2:20am Oct 4, 2022 2:20am
Quoting T721
{quote} most of my trades are swings. i trade higher time frames. Swing trading suits me. Trading is not a one size fits all you have to find what works for you. i tried scalping when i started and it just didnt work for me. But just because i trade the bigger TFs doesnt mean i get every trade right, i dont but i dont have to monitor it, i just accept the risk and if i get hit im ok with that. Take your time with the PDFs and find something that suits your style and more importantly your 9-5 job.

Ok makes sense thanks.

Also my job is not 9-5 it's 2 weeks on 2 weeks off on call as emergency service. So 2 weeks at a time I can dedicate every hour. The other I may be free the entire time or hounded so it is a hard balance. I think swing trading will work best working weeks as long as I don't try and force trades. And I can be more flexible with trading style when not working. I guess the art will be strictly separating what works for what time.

So any time zone anytime if the set up is there for you swing style?
The markets are neutral to us. Our emotions are the enemy.
  • #335
  • Oct 4, 2022 3:44am Oct 4, 2022 3:44am
Quoting Knoxvilles
{quote} Ok makes sense thanks. Also my job is not 9-5 it's 2 weeks on 2 weeks off on call as emergency service. So 2 weeks at a time I can dedicate every hour. The other I may be free the entire time or hounded so it is a hard balance. I think swing trading will work best working weeks as long as I don't try and force trades. And I can be more flexible with trading style when not working. I guess the art will be strictly separating what works for what time. So any time zone anytime if the set up is there for you swing style?
you need to start with bigger TFs then work your way down. Its a hard question to answer as i dont know your understanding of the markets and what level your at. even trading the way i do i get trades wrong. EG-- took a hit on Gold yesterday. Last week i took 2 breakevens on AN and went short AN again yesterday which is going well at last, but during the news price came back to within 10pips of my stop, i only seen that when i woke up
  • #336
  • Oct 4, 2022 3:46am Oct 4, 2022 3:46am
Quoting lddd
{quote} I broadly agree with you. I'm just trying to understand if there's a way to protect myself from such unexpected spikes. I take care of the news, at least all the red flagged once you can find on the calendars. However at times i see large spikes even while there is no single sign of news.
The only way to protect yourself is to accept the % risk your willing to take wether its 0.5% or whatever works for you. This is a risky game and you will always get losers --- Always
  • #337
  • Oct 4, 2022 4:04am Oct 4, 2022 4:04am
Quoting T721
{quote} you need to start with bigger TFs then work your way down. Its a hard question to answer as i dont know your understanding of the markets and what level your at. even trading the way i do i get trades wrong. EG-- took a hit on Gold yesterday. Last week i took 2 breakevens on AN and went short AN again yesterday which is going well at last, but during the news price came back to within 10pips of my stop, i only seen that when i woke up
It all depends on how you trade too.
ie, fast cars or more sedate Bentleys. Sprint runners and marathon runners.
Just do not herd without knowledge.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #338
  • Oct 4, 2022 9:33am Oct 4, 2022 9:33am
This is why you need loadsa patience. took a long time but eventually hit and still going. IT DOES TRY YOUR PATIENCE, especially when you look at your profits then the next day it drops 100pips or so. It always plays with your psychology, emotions at every turn. Its a BLOODY HARD GAME
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  • #339
  • Oct 4, 2022 9:40am Oct 4, 2022 9:40am
Quoting T721
This is why you need loadsa patience. took a long time but eventually hit and still going. IT DOES TRY YOUR PATIENCE, especially when you look at your profits then the next day it drops 100pips or so. It always plays with your psychology, emotions at every turn. Its a BLOODY HARD GAME {image} {image}
Especially when it just misses your target by a few points.
  • #340
  • Oct 4, 2022 9:45am Oct 4, 2022 9:45am
Sorry, shoulda posted the 1hr tf as that was the original
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