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  • #7,421
  • May 29, 2008 2:38pm May 29, 2008 2:38pm
Placed all stops at 105.65 now, 10 pips above price. I see the bollinger bands have shifted direction now on the 5 min chart.

Ron.
  • #7,422
  • May 29, 2008 2:55pm May 29, 2008 2:55pm
Quoting sikacek
Hi Bruce,

I am currentlly 22 pips plus, so I have to lock 10??
Think of it this way if you get stopped out you are a SURE winner on that trade. You can always get back in again after the rise. Also watch where it is trading on a one minute chart. Has it changed direction OVER the EMA.

Is This clear ?


Bruce
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  • #7,423
  • May 29, 2008 2:56pm May 29, 2008 2:56pm
Quoting Ron3226
Placed all stops at 105.65 now, 10 pips above price. I see the bollinger bands have shifted direction now on the 5 min chart.

Ron.
Your Maximum risk was $500 and your MINIMUM profit is What ?

Bruce
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  • #7,424
  • May 29, 2008 3:00pm May 29, 2008 3:00pm
Quoting Warren Forex
Your Maximum risk was $500 and your MINIMUM profit is What ?

Bruce
$500
Veni, vidi, vici...
  • #7,425
  • May 29, 2008 3:02pm May 29, 2008 3:02pm
Quoting MaZae
im with you pepbullish!! neither taking losses.. .. after more than 100 pips against my last short i'm placing another one and i will do it again and again if its necessary .. this pair will fall soon, as bruce said before "the worst is yet to come" we already know that this usd rally can't live much longer.
No retreat, no surrender ...... to the death !!!!!
  • #7,426
  • May 29, 2008 3:03pm May 29, 2008 3:03pm
Quoting Warren Forex
Your Maximum risk was $500 and your MINIMUM profit is What ?

Bruce
There is nothing wrong with closing your Position that you got in at 105.69 at even if you only get 10 PIPS as you are out before the 5:00 PM EST rollover and Rollover Costs of about $10.00 Us on this pair if you are short. Think ahead.

The bigger profit Position you could even close out or let it get taken out if it hits 105.65

Use your instincts and do the math. A sure profit is always good. This currency pair has a tendency to rise some in off market hours.

Keep Up The Good Work !!!


Bruce
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  • #7,427
  • May 29, 2008 3:05pm May 29, 2008 3:05pm
Quoting Warren Forex
Your Maximum risk was $500 and your MINIMUM profit is What ?

Bruce

+21 pips minimum, so around $200.

Positions: 1st Open: 105.69 Current S/L 105.66
2nd Open: 105.83 Current S/L 105.65

Live Position: Open 105.83 Current S/L 105.65

Ron.
  • #7,428
  • Edited 3:10pm May 29, 2008 3:08pm | Edited 3:10pm
Quoting sikacek
$500

The Ideal Risk to Reward Ratio is 2 for 1

$1000 Profit for $500 Risk is good. If you can win 60% or more of all your trades then just do the math. You will become very very rich.

Bruce
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  • #7,429
  • May 29, 2008 3:12pm May 29, 2008 3:12pm
Quoting Warren Forex
The Ideal Risk to Reward Ratio is 2 for 1

$1000 Profit for $500 Risk is good. If you can win 60% or more of all your trades then just do the math. You will become very very rich.

Bruce
Bruce,
are you using trailing stops or moving SL manually??
Veni, vidi, vici...
  • #7,430
  • May 29, 2008 3:15pm May 29, 2008 3:15pm
Quoting Warren Forex
The Ideal Risk to Reward Ratio is 2 for 1

$1000 Profit for $500 Risk is good. If you can win 60% or more of all your trades then just do the math. You will become very very rich.

Bruce
By getting your entry point in as we did today and being able to lower your STOP as it changes direction EVEN though some thought it was going OVER 106.00 at the time. (The HIGH was 105.887) You do NOT WORK with a RISK of $500 on 2 Positions of 100K since you lower your STOP into GUARANTEED PROFITS.

That is WHY I WIN OVER 80% of ALL my FX trades and HOW I Went 693 FX trades in a Row without a loss.

Good Work Ladies and Gentleman...

Are we having FUN ?

Bruce
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  • #7,431
  • May 29, 2008 3:21pm May 29, 2008 3:21pm
It will be even more fun if we break past the 105.50 mark

Can't lose now either way.

Ron.
  • #7,432
  • May 29, 2008 3:24pm May 29, 2008 3:24pm
Quoting sikacek
Bruce,
are you using trailing stops or moving SL manually??
Since I trade LIVE and CONSTANTLY use the one minute and five minute charts using EMA,BB,SAR,MACD,RSI and CCI, I use manual trailing stops so I am always on top of things.

Sometimes I just might close my positions before 5:00 PM EST to avoid rollover costs and uncertainty overnight until the Japan Open. It is GOOD to be ALL in cash and be READY for a NEW Opportunity.

KEEP in MIND, We were going against some strong consensus that it was going OVER 106.00 and it still might but we are OK now playing it the way that we just did. There is always NEW Opportunities if it TESTS 105.90 again. We also then can update ourselves on the fundamentals.

Do not forget to go to WWW.JSMINESET.COM to review today's News Events with no spin and great insight by Jim Sinclair as to what is really going on out there. He is one of the MOST EXPERT traders in the World. It is a FREE SITE.

Bruce

P.S. I am OFF for a few hours now. I appreciate the teamwork and cooperation here today. Thanks...
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  • #7,433
  • May 29, 2008 3:27pm May 29, 2008 3:27pm
Quoting Ron3226
It will be even more fun if we break past the 105.50 mark

Can't lose now either way.

Ron.

Always place the Odds In Your Favor and Come OVER to the 5% Winners side. The FOOD is much better here. Though I need to start watching my weight at 64 with too much fine dining in many ways being a single man !!!

Later


Bruce
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  • #7,434
  • May 29, 2008 5:23pm May 29, 2008 5:23pm
How Did We Do ? Did Everyone Lock In Their Profits ? Market quiet for the moment. Time for Supper. Be around. Any Questions or Comments ?


Bruce
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  • #7,435
  • May 29, 2008 5:39pm May 29, 2008 5:39pm
Quoting Warren Forex
How Did We Do ? Did Everyone Lock In Their Profits ? Market quiet for the moment. Time for Supper. Be around. Any Questions or Comments ?


Bruce
I'm with a stupid old short from 105.52...Its a small lot with TP 105.40 and SL 105.65.I'll let it there to see what happens.
  • #7,436
  • May 29, 2008 5:44pm May 29, 2008 5:44pm
Quoting Warren Forex
How Did We Do ? Did Everyone Lock In Their Profits ? Market quiet for the moment. Time for Supper. Be around. Any Questions or Comments ?


Bruce
Great thread! I have been reading over the last few days, missed this run as i was having internet problems but will continue to learn. Thanks!
  • #7,437
  • May 29, 2008 6:16pm May 29, 2008 6:16pm
Quoting Küster
I'm with a stupid old short from 105.52...Its a small lot with TP 105.40 and SL 105.65.I'll let it there to see what happens.
My shorts died a long time ago ......
  • #7,438
  • May 29, 2008 6:20pm May 29, 2008 6:20pm
CPI due out in ten minutes for japan.
  • #7,439
  • May 29, 2008 6:25pm May 29, 2008 6:25pm
http://www.forexfactory.com/showthre...92#post2027292


Bruce
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  • #7,440
  • May 29, 2008 6:31pm May 29, 2008 6:31pm
Some not so great news out on japan. thoughts/
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