Auslanco - GBP/JPY and GBP/USD (newstrade)

Quoting monarch

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Actually the worse trade in two months, I lose occassionally, like yesterday, I entered a trade when my platform had a glich, I was up 12 pips automatically, but when I tried to close the trade I lost 1/2 of a pip, that is my worst loss in over two weeks.

Before that, losses range in the -7 pips or less usually.

Scalpers don't have much room for error, so the stops are manually and real tight for protection.

Much easier to re-gain a small loss then letting it go for 10 or more on a single trade.

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Quoting monarch

Disliked

Actually the worse trade in two months, I lose occassionally, like yesterday, I entered a trade when my platform had a glich, I was up 12 pips automatically, but when I tried to close the trade I lost 1/2 of a pip, that is my worst loss in over (around two weeks give or take).

Before that, losses range in the -7 pips or less usually.

Scalpers don't have much room for error, so the stops are manually and real tight for protection.

Much easier to re-gain a small loss then letting it go for 10 or more on a single trade.

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Quoting mktjong

Disliked

Exactly, it is even better with supported 15min qqe(60)

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Quoting monarch

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Who said it has to be a traditional dictionary, I beg the differ with you. LOL

http://www.urbandictionary.com/define.php?term=funner

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Quoting Geppy

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Hey Monarch, just curious, but wouldn't it be more advantageous for you to scalp FX futures? Having to cover such a large spread every time trading cash has got to hurt the bottom line quite a bit. Not only that, you would be profitable much quicker.

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Quoting monarch

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I scalp EJ 95% of all trades, 0-2 pip entry with minor commission, not a bad tradeoff.

All I do is get in and when I am up 3 pips, I am in the profits everytime.

3 pips, yeah, I always get 3 pips, but look for 6 to 20, depending on the formation and strength of the price at the time of trade.

Like right now, we have a small upwards move on the EJ, I would take a smaller profit on this entry (+4/5) then if it were during the London session, which is the greatest part of my trading time.

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Quoting Geppy

Disliked

Hey Monarch, just curious, but wouldn't it be more advantageous for you to scalp FX futures? Having to cover such a large spread every time trading cash has got to hurt the bottom line quite a bit. Not only that, you would be profitable much quicker.

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Quoting Syafi

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For Lazy person........... Scalper is not lazy.. so how come you are lazy :

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Quoting monarch

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I didn't say I was lazy, I said following others makes us lazy. LOL

I am feeling lazy right now though.

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Quoting fourxtrader

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Suppose I could learn to scalp like you, learn your method by
reading through your 2,000 posts? I go nuts staying very long
in open trade positions.

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Quoting Syafi

Disliked

Lazy person utter the word funner : ......
other people say More Fun

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Quoting fourxtrader

Disliked

Or open an account that offer as little as 1 pip spread on the GU and
1-5 pips on the GJ. Right now I see a 1-3 on GJ. Then add only 1 pip
coming and going as commission. In my view, that adds up to a
savings and consistently beats the 7-9+ pip spreads brokers required
in the GJ.

Certainly helps my scalping get to where I want to go in a hurry.

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Quoting Pickensrulz

Disliked

This would be the furthest level I would enter a long at with a stop below 234.60. Out of curiousity what are you basing this prediction on?

Thanks dude!

Us bulls gotta stick show some support to each other http://www.forexfactory.com/images/icons/icon12.gif

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Quoting Syafi

Disliked

Lazy person utter the word funner : ......
other people say More Fun

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Quoting Geppy

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How much draw down will you allow yourself to go into?

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Quoting 59fender

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ok its something like this: you have shorts being squezed out how do they exit? by going long then you have a certain percentage of those who stop and reverse double down if you will, thinking this will shoot up which it does!if you get in soon enough you can make most if not all of your losses back. now you have to exit you do this by selling are you with me? ok people like me who were long start to take profit we also do this by selling! now you have short time speculators looking to further squezze out the late longs who think this is "the movement" and they get hammered hope this makes sense

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Quoting monarch

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That is a tough question to answer.

I have so many variations of trades and lot sizes that I am doing.

On an average good setup, I will let it go 8-10 against me, and usually will add an additional lot entry, this will cut my position in 1/2 (not a recommended trading strategy), then if it goes deeper and there is still a high probability of what I see happening, I will enter a third time with the same lot sizes as the first two.

The only difference is, once I enter the second or third entry, my target reduces, and often is near the first entry point.

Mathmatically, it works for me, and continues to work.

I have only used a third entry one time in the past several months, usually I am good with the second entry covering the drawdown and exiting my position in good profits.

Then if I get all three entries going against me, then there is a heavy loss, but if you trade the trend and enter the right times, you shouldn't have these come your way. (but they do - ouch)

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Quoting monarch

Disliked

Then if I get all three entries going against me, then there is a heavy loss, but if you trade the trend and enter the right times, you shouldn't have these come your way. (but they do - ouch)

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Quoting monarch

Disliked

Actually the worse trade in two months, I lose occassionally, like yesterday, I entered a trade when my platform had a glich, I was up 12 pips automatically, but when I tried to close the trade I lost 1/2 of a pip, that is my worst loss in over (around two weeks give or take).

Before that, losses range in the -7 pips or less usually.

Scalpers don't have much room for error, so the stops are manually and real tight for protection.

Much easier to re-gain a small loss then letting it go for 10 or more on a single trade.

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