glad to see your on the make again. 
- #1,184
- Mar 9, 2007 1:45pm Mar 9, 2007 1:45pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
glad to see your on the make again.
Thanks to Dan & jd too
Will post where we are at close in a couple of hours
Kind Regards
Steve
- #1,185
- Mar 9, 2007 4:13pm Mar 9, 2007 4:13pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
OK, overall it's been a great week and a great March so far. 4 trades are still active with stop losses tightened.....
USDJPY long from 117.18 (s/l 116.99 guarantees minus 19 pips)
GBPUSD short from 1.9322 (s/l 1.9352 guarantees minus 30 pips)
USDCHF long from 1.2176 (s/l 1.2246 guarantees plus 70 pips)
EURUSD short from 1.3176 (s/l 1.3170 guarantees plus 6 pips)
So, although the trades are currently up by 344 pips, we have only locked in 27 pips profit to date. Looking for a reasonable Sunday/Monday to lock in at least a hundred or two.
USDJPY - trade been on for 1 day - currently plus 114 pips
GBPUSD - trade been on 3 days - currently plus 1 pip
USDCHF - trade been on 2 days - currently plus 170 pips
EURUSD - trade been on 2 days - currently plus 59 pips
Have a great weekend all and catch you soon
Kind Regards
Steve
USDJPY long from 117.18 (s/l 116.99 guarantees minus 19 pips)
GBPUSD short from 1.9322 (s/l 1.9352 guarantees minus 30 pips)
USDCHF long from 1.2176 (s/l 1.2246 guarantees plus 70 pips)
EURUSD short from 1.3176 (s/l 1.3170 guarantees plus 6 pips)
So, although the trades are currently up by 344 pips, we have only locked in 27 pips profit to date. Looking for a reasonable Sunday/Monday to lock in at least a hundred or two.
USDJPY - trade been on for 1 day - currently plus 114 pips
GBPUSD - trade been on 3 days - currently plus 1 pip
USDCHF - trade been on 2 days - currently plus 170 pips
EURUSD - trade been on 2 days - currently plus 59 pips
Have a great weekend all and catch you soon
Kind Regards
Steve
- #1,186
- Mar 9, 2007 4:14pm Mar 9, 2007 4:14pm
- | Joined Jul 2006 | Status: Will take it all off for Pips! | 1,105 Posts
Thanks bro - closed trades so far in March are plus 621 pips (plus 9.32% of account bal) and these will at least lock in a few more. The markets have been more condusive to my system this month again.
Thanks to Dan & jd too
Will post where we are at close in a couple of hours
Kind Regards
Steve
Just always rember the bigger picture
- #1,187
- Mar 9, 2007 4:22pm Mar 9, 2007 4:22pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Let's go for guts then - we've all got them
Yes, February was dire but having come through that we have nearly made back all those pips. Persistence & patience is the name of the game.
Have a good one
Kind Regards
Steve
Yes, February was dire but having come through that we have nearly made back all those pips. Persistence & patience is the name of the game.
Have a good one
Kind Regards
Steve
Keep it up mate that what you get for riding threw the hard time most people don't have what it take to that. ( I want to say balls but I know many good female traders too, I hope they don't have any.. lol)
Just always rember the bigger picture
- #1,188
- Mar 10, 2007 1:09am Mar 10, 2007 1:09am
I primarily use trend-lines to follow price at support and resistance levels. I still use price action in the form of bar or candle patterns as well but to a lesser degree. If you look to the beginning of this thread then I compared a situation on GU where our methods are similar.
Hope this helps.
Hope this helps.
Steviet, Im glad to see things are turning around for you this month......good job.
Isotonic:
I was just curious what system or method do you follow for trading? You have given very good advice in this thread as well as others. Do you follow price action as well similar to Steviet?
- #1,189
- Mar 10, 2007 1:14am Mar 10, 2007 1:14am
The real mark of any trader is handling the tough situations when the markets really test you. The next time it happens it you are pyschologically prepared and it shouldn't be as hard. Having done it publicly and shone through the other end, which very few people are capable of, tells me that you will be a great trader one day (if not already)!
Let's go for guts then - we've all got them
Yes, February was dire but having come through that we have nearly made back all those pips. Persistence & patience is the name of the game.
Have a good one
Kind Regards
Steve
OK, overall it's been a great week and a great March so far. 4 trades are still active with stop losses tightened.....
USDJPY long from 117.18 (s/l 116.99 guarantees minus 19 pips)
GBPUSD short from 1.9322 (s/l 1.9352 guarantees minus 30 pips)
USDCHF long from 1.2176 (s/l 1.2246 guarantees plus 70 pips)
EURUSD short from 1.3176 (s/l 1.3170 guarantees plus 6 pips)
So, although the trades are currently up by 344 pips, we have only locked in 27 pips profit to date. Looking for a reasonable Sunday/Monday to lock in at least a hundred or two.
USDJPY - trade been on for 1 day - currently plus 114 pips
GBPUSD - trade been on 3 days - currently plus 1 pip
USDCHF - trade been on 2 days - currently plus 170 pips
EURUSD - trade been on 2 days - currently plus 59 pips
Have a great weekend all and catch you soon
Kind Regards
Steve
Awesome thread! In regard to the cable though, notice that there is a real strong support at 1.9250 level, and it is not likely to break it anytime soon. Although anything is possible. Hope you have a good weekend!
- #1,192
- Mar 10, 2007 9:06am Mar 10, 2007 9:06am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi Iso,
Thanks for the kind words - as you say I'll be prepared next time. When I have a bad month or two I know I can come out of it the other end
Kind Regards
Steve
Thanks for the kind words - as you say I'll be prepared next time. When I have a bad month or two I know I can come out of it the other end
Kind Regards
Steve
The real mark of any trader is handling the tough situations when the markets really test you. The next time it happens it you are pyschologically prepared and it shouldn't be as hard. Having done it publicly and shone through the other end, which very few people are capable of, tells me that you will be a great trader one day (if not already)!
- #1,193
- Mar 10, 2007 9:09am Mar 10, 2007 9:09am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Thanks zawodowiec,
Yeah, cable has been in a tight 100 pip range for a few days. The trade I am holding has been as much as plus 80 and also up to minus 40. I'll keep holding on though until it breaks either way as that is what I do. If I lose 40 pips, that's no problem.
1.9250/60 has held very firm it's true so we'll have to see how things play out early next week.
Kind Regards
Steve
Yeah, cable has been in a tight 100 pip range for a few days. The trade I am holding has been as much as plus 80 and also up to minus 40. I'll keep holding on though until it breaks either way as that is what I do. If I lose 40 pips, that's no problem.
1.9250/60 has held very firm it's true so we'll have to see how things play out early next week.
Kind Regards
Steve
Awesome thread! In regard to the cable though, notice that there is a real strong support at 1.9250 level, and it is not likely to break it anytime soon. Although anything is possible. Hope you have a good weekend!
- #1,195
- Mar 11, 2007 3:07pm Mar 11, 2007 3:07pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hmm,
I've never been stopped out over a weekend before - my broker is still closed so I may get away with being stopped out immediately.
I would imagine I would re-enter at Monday close and just try and get a feel for what the market does during the day. Cable has been trading in such a tight range it may not be a bad idea just to watch for a day to see the market reaction.
I see EU is also trading around 1.3140 (prices from www.xe.com) but our stop there is 1.3170. My broker opens in a couple of hours I think unless this DST has kicked in lol.
Kind Regards
Steve
I've never been stopped out over a weekend before - my broker is still closed so I may get away with being stopped out immediately.
I would imagine I would re-enter at Monday close and just try and get a feel for what the market does during the day. Cable has been trading in such a tight range it may not be a bad idea just to watch for a day to see the market reaction.
I see EU is also trading around 1.3140 (prices from www.xe.com) but our stop there is 1.3170. My broker opens in a couple of hours I think unless this DST has kicked in lol.
Kind Regards
Steve
Steve, Cable is currently trading a lot higher (my short was stopped about an hour ago at 19350) - currently 60/65 (8pm GMT)....
I'm wondering, will you re-enter in a couple of hours or do you wait until you have seen the Monday candle close?
- #1,196
- Mar 11, 2007 3:15pm Mar 11, 2007 3:15pm
OK, yes thats my feeling on it too, see what a full days trading does to it before re-entering.
It looks like the initial move is Yen cross related (
on demo ...lol)
Yes, you might be still in the trade if it can drift off a few spreads in next hour or so.....
It looks like the initial move is Yen cross related (
on demo ...lol)Yes, you might be still in the trade if it can drift off a few spreads in next hour or so.....
- #1,197
- Mar 11, 2007 3:20pm Mar 11, 2007 3:20pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Yup,
GJ is currently showing up over 229 & EJ around 155.50. My broker opens again at 1700 New York time. Now that may mean in about 40 minutes - we haven't changed the clocks to British Summer Time yet to compensate.
As you say, it may have dipped back below our stop before the broker opend in which case we'll still be in the trade.
Let's see....
Cheers
Steve
GJ is currently showing up over 229 & EJ around 155.50. My broker opens again at 1700 New York time. Now that may mean in about 40 minutes - we haven't changed the clocks to British Summer Time yet to compensate.
As you say, it may have dipped back below our stop before the broker opend in which case we'll still be in the trade.
Let's see....
Cheers
Steve
OK, yes thats my feeling on it too, see what a full days trading does to it before re-entering.
It looks like the initial move is Yen cross related (
Yes, you might be still in the trade if it can drift off a few spreads in next hour or so.....
- #1,198
- Mar 11, 2007 3:50pm Mar 11, 2007 3:50pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
OK,
Looks like my broker is opening in about 15 mins - EU is at 1.3144 & UCHF at 1.2308
GU may well be stopped out like Xerof as the broker opens as it's still showing around 1.9360 (my s/l at 1.9352). It will be interesting to see what price I actually get stopped out at as it looks like it will gap over it.
Steve
Looks like my broker is opening in about 15 mins - EU is at 1.3144 & UCHF at 1.2308
GU may well be stopped out like Xerof as the broker opens as it's still showing around 1.9360 (my s/l at 1.9352). It will be interesting to see what price I actually get stopped out at as it looks like it will gap over it.
Steve
Yup,
GJ is currently showing up over 229 & EJ around 155.50. My broker opens again at 1700 New York time. Now that may mean in about 40 minutes - we haven't changed the clocks to British Summer Time yet to compensate.
As you say, it may have dipped back below our stop before the broker opend in which case we'll still be in the trade.
Let's see....
Cheers
Steve
- #1,199
- Mar 11, 2007 4:07pm Mar 11, 2007 4:07pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
OK,
Well, I have my answer - GU stopped out at 1.9352 for minus 30 pips (even though the price is currently around 9370). My stop loss was honoured - wonder if that would have been the case if I was trading megabucks lol
New trade set on USDCAD.....
USDCAD short from 1.1723 (s/l 1.1821 guarantees minus 98 pips)
Won't enter GU again until Monday close.
Kind Regards
Steve
Well, I have my answer - GU stopped out at 1.9352 for minus 30 pips (even though the price is currently around 9370). My stop loss was honoured - wonder if that would have been the case if I was trading megabucks lol
New trade set on USDCAD.....
USDCAD short from 1.1723 (s/l 1.1821 guarantees minus 98 pips)
Won't enter GU again until Monday close.
Kind Regards
Steve
however i run the risk of losing more than most if there are huge weekend gaps.lol.