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  • #8,621
  • Feb 10, 2009 11:03am Feb 10, 2009 11:03am
Here is one of my current longs

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  • #8,622
  • Feb 10, 2009 11:05am Feb 10, 2009 11:05am
Here is my other long....

my stop is condition to the market rythem...

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  • #8,623
  • Feb 10, 2009 11:09am Feb 10, 2009 11:09am
Currently up about 20 pips in bitt of time I will move stop to brek even nd let the trade run...

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  • #8,624
  • Feb 10, 2009 11:11am Feb 10, 2009 11:11am
Quoting Shermenator
Here is one of my current longs

Attachment
Missed my entry by 2 pips.
  • #8,625
  • Feb 10, 2009 11:26am Feb 10, 2009 11:26am
Shermenator. Thanks for your charts. I have been looking at the NB strategy.

From what I understand once in a trade your next target should be another S&R level?

With your current GBPUSD trade, would you be looking at the 4700 level as a target?
  • #8,626
  • Feb 10, 2009 11:32am Feb 10, 2009 11:32am
Quoting nurotic
Shermenator. Thanks for your charts. I have been looking at the NB strategy.

From what I understand once in a trade your next target should be another S&R level?

With your current GBPUSD trade, would be looking at the 4700 level as a target?

Thats an area I might consider taking some profits based on price action or simply move my stop to break even since my real target is 4980 and above keep in mind thats simply a target in my head but it all comes down to how the market moves once in the trade ....you have to be adjusting to the conditions of the markets as it takes place. You can only plan so much prior to the trade since you have to see as the market develops the trade changes.
  • #8,627
  • Feb 10, 2009 11:45am Feb 10, 2009 11:45am
Up 66 pips in the gbpchf now moving stop to break even easy pips lol like stealing candy from a baby...

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  • #8,628
  • Feb 10, 2009 11:51am Feb 10, 2009 11:51am
Just came home from a nice dinner in town and saw GBPUSD right between 1.4605 - 1.4577, where I had a demand zone. Didn't pull the trigger though, as I believe Bernanke has an important speach in about 10 minutes... Sherm, I see you made a killing today . Great trading there!
  • #8,629
  • Feb 10, 2009 11:52am Feb 10, 2009 11:52am
Will move stop to break even preety soon up 25 pips on it...its a slower pair then my other one so I will move stop quicker....

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  • #8,630
  • Feb 10, 2009 11:54am Feb 10, 2009 11:54am
Quoting bumasoft
Just came home from a nice dinner in town and saw GBPUSD right between 1.4605 - 1.4577, where I had a demand zone. Didn't pull the trigger though, as I believe Bernanke has an important speach in about 10 minutes... Sherm, I see you made a killing today . Great trading there!
thanks bud
  • #8,631
  • Feb 10, 2009 12:01pm Feb 10, 2009 12:01pm
Closed gbpchf with 10 pips market is not ready yet...
  • #8,632
  • Feb 10, 2009 12:02pm Feb 10, 2009 12:02pm
Quoting Shermenator
Closed gbpchf with 10 pips market is not ready yet...
If needed I will come in again
  • #8,633
  • Feb 10, 2009 12:02pm Feb 10, 2009 12:02pm
Quoting Shermenator
Thats an area I might consider taking some profits based on price action or simply move my stop to break even since my real target is 4980 and above keep in mind thats simply a target in my head but it all comes down to how the market moves once in the trade ....you have to be adjusting to the conditions of the markets as it takes place. You can only plan so much prior to the trade since you have to see as the market develops the trade changes.
I see. Coming off at a random tangent as Im trying to get into the thinking process. This may seem like a obvious question, but at what point do you feel that a level is going to hold? Are you waiting for a hrly close above or below a s&r level?

Do you wait for price to break a level then place a limit order to catch the move?
  • #8,634
  • Feb 10, 2009 12:05pm Feb 10, 2009 12:05pm
Quoting nurotic
I see. Coming off at a random tangent as Im trying to get into the thinking process. This may seem like a obvious question, but at what point do you feel that a level is going to hold? Are you waiting for a hrly close above or below a s&r level?

Do you wait for price to break a level then place a limit order to catch the move?
I actually do a bitt of bott sometimes I throw limit orders sometimes I look for a close above resistance or support it really comes down to how the setup is forming and how it looks....as well as the rythem in the chart...I have no exct rules I look at the market structure as well so it really changes trade to trade every setup is different ....as well as if I know if I should scalp or hold
  • #8,635
  • Feb 10, 2009 12:48pm Feb 10, 2009 12:48pm
I might have to add to my long if the setup takes place...
  • #8,636
  • Feb 10, 2009 1:15pm Feb 10, 2009 1:15pm
My long GBPUSD @ 1.4482 wasn't hit by a couple of pips.
Do you consider a good idea to use chase orders?
Thanks!
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Trading: the skill of avoiding trades
  • #8,637
  • Feb 10, 2009 1:22pm Feb 10, 2009 1:22pm
Quoting eswap0
My long GBPUSD @ 1.4482 wasn't hit by a couple of pips.
Do you consider a good idea to use chase orders?
Thanks!
IMHO, don't chase the trade... Be patient and look for the next good oportunity... Don't take on more risk than you need to...
  • #8,638
  • Feb 10, 2009 1:25pm Feb 10, 2009 1:25pm
Great Trading Sherm. I'm watching USD/CAD at 1.2520 to 1.2540 area for possible short
  • #8,639
  • Feb 10, 2009 1:26pm Feb 10, 2009 1:26pm
It came back!
Patience has its own reward...
Thanks!
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Trading: the skill of avoiding trades
  • #8,640
  • Feb 10, 2009 2:53pm Feb 10, 2009 2:53pm
Long @ 130.60 SL 130.10 TP 131.50

I hope this meets the NBT criteria.

thax
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