DislikedHi guys i need your help asap...
i opened position short on u/j at 102.39 with big leverage by mistake...what you think close it now or wait...?Ignored
regards
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi guys i need your help asap...
i opened position short on u/j at 102.39 with big leverage by mistake...what you think close it now or wait...?Ignored
Dislikeduj tested a STRONG long term support. I think it will go up a lot in the next days
regardsIgnored
Dislikeduj tested a STRONG long term support. I think it will go up a lot in the next days
regardsIgnored
Dislikedagreed, if dollar strengthens, yen will weaken quickly..
If that's the case, I'm looking for a test of 105.50 next week or so...
anyone remembers Nov7/07 and usd/cad...
big leverage, rush and greed will put you crying in a fetal position one day... It's not a pleasant experience. Slow and steady, and capital preservation will do miracles to your account over time....Ignored
Dislikedi know it...but it was mistake i forgot to change the leverage...it start with big leverage...and i did not changed it...this mistake cost me alot of money...Ignored
Dislikedsorry to hear that shayb. Forex in NOT a video game... there are big sharks out there everywhere feeding on mistakes like that. Treat this as a business with strict rules and you'll never forget. You probably saw the move south and wanted to jump in 'pronto'.... a big no no... . Market will be here long after we bite the dust, so don't rush. Once you're realize it that there is another setup coming, you should not regret missed opportunities. There are plenty more to come.
many pips..Ignored
DislikedI can't believe people are still fighting trends(some even on 5 Minute charts)..IMHO the name of the game once EURUSD broke out was USD weakness and carry unwind; the first phase should complete soon and if the stock markets lose their January lows, then the next bit might be quite ugly and unorderly..as the crosses implodes then we might get that USD push, but up to this high the USD majors look very, very scary, don't they...
I see the "locals" have been holding it up, keep it going!
Well done on some nice trades Bundy, Raczekfx, etc etc..
I'm still gonna be a while...
Btw - creepy, a really bad NFP and we get 1. an initial USD rally 2. an initial stocks boost...crazy world...evil spikes!
But seems things are back to normal and resuming the end of the (american) world plan..I wonder how long it will take for us to see those 'fun' moves again on the carry pairs...
Best of luck to everyone and keep in mind what Raczekfx said: this is NOT a game. Risk control!
Take care,
SeekingLightIgnored
DislikedImagine this scenario (some of you won't have to imagine, I'm sure)...
You place limit orders on a pair (1 entry, 2 TP exits) and go to bed. You wake up to find that you entered, but missed your first TP by 3 pips! Now the pair is sitting at a -15 pip profit and forming a setup that looks to go against your position. Do you close the trade, or place orders to stop and reverse if the new setup becomes valid?
Also, is there a mechanism to automatically move your stop to BE once price goes a certain distance? Could you write an EA or script in metatrader to do that? A trailing stop would only work if your first TP was the same distance away as your SL.Ignored
DislikedThanks for your insight hipster. A simple google search of "move to breakeven mt4" gave me some EAs that look to do exactly that. I.E. you tell it after how many pips to move your stop to BE and it does...testing now.
Doh, closed markets. Guess I'll know if it works on Sunday.Ignored
DislikedThere are a lot of daily pins out there... EURUSD, GBPUSD, USDJPY, EURJPY, USDCHF, EURCHF....!! Which one do you take?!Ignored
DislikedThere are a lot of daily pins out there... EURUSD, GBPUSD, USDJPY, EURJPY, USDCHF, EURCHF....!! Which one do you take?!Ignored