I just learned a neat little trick to reduce a large loss. As you can see the Aud/Nzd had another run up in the middle of the Euro session. (What that heck its running then is anyones guess. Guess the Europeans dont need those NZD dollars.) So with 4 levels I was around 100 from my TP. So I went into my program and added another level (changed it from 4 to 5) but reduced the lots by 2/3 (changed it from .30 to .10). This gave me another entry but at a reduced number. Now price only needs to retrace 30 to get out and when it got there the 5th level trade brought the others near zero and I got out of a really tough situation. HMMMMMMMMM interesting. I hope you understood what I wrote. I have a MACD chart on and did this when it crossed down on MACD below the 0 line.
- #1,021
- Jan 14, 2009 4:55am Jan 14, 2009 4:55am
- Joined Jun 2007 | Status: Teach men to fish | 7,384 Posts
- #1,025
- Jan 14, 2009 11:23am Jan 14, 2009 11:23am
- Joined Jun 2007 | Status: Teach men to fish | 7,384 Posts
- #1,026
- Jan 14, 2009 11:25am Jan 14, 2009 11:25am
- Joined Jun 2007 | Status: Teach men to fish | 7,384 Posts
- #1,027
- Jan 14, 2009 11:31am Jan 14, 2009 11:31am
- Joined Jun 2007 | Status: Teach men to fish | 7,384 Posts
- #1,030
- Jan 14, 2009 11:41am Jan 14, 2009 11:41am
- Joined Jun 2007 | Status: Teach men to fish | 7,384 Posts
- #1,031
- Jan 14, 2009 6:43pm Jan 14, 2009 6:43pm
- Joined Jun 2007 | Status: Teach men to fish | 7,384 Posts