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  • #241
  • May 20, 2009 11:09am May 20, 2009 11:09am
Quoting Tony112
I fell asleep during london... I saw the charts there were nice moves
THIS IS IN THE MORNING, I set this one for 40
I see now that if I went to sleep like you suggested and left my london open trade ... I would have been up 150+ pips LOL with a minimal stop loss

Nice ...
  • #242
  • May 20, 2009 3:06pm May 20, 2009 3:06pm
hey profit is profit.nice
  • #243
  • May 20, 2009 8:57pm May 20, 2009 8:57pm
How do you set the 0 stop loss? When I try it just says "your stop loss must be below the bid when entering a long or above ask when entering short"

Does it mean that by the time I make the trade the price has already gone past?
  • #244
  • May 20, 2009 9:25pm May 20, 2009 9:25pm
it's impossible read below please
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  • #245
  • May 20, 2009 9:26pm May 20, 2009 9:26pm
Quoting lolpie
How do you set the 0 stop loss? When I try it just says "your stop loss must be below the bid when entering a long or above ask when entering short"

Does it mean that by the time I make the trade the price has already gone past?

lol if it was that easy, I would be richer than Bill Gates and Warren Buffet, every trade you would enter would have 0$ loss - so you would only have to tries 10 000 times and you would eventually hit a few 100 pips TP!! but life isn't that sweet It's ok you ask that question... The thing is... you can't always guarrantee that the price will go past your entry point... but you can try ... and put the chances on your side.... sometimes.. price will reverse and hit your 5 pip stop-loss right away... but if it passes your entry point by a few pips... only THEN you can RE-SET your stop-loss at 0 pips!! if not it would be too sweet.. that would be forex paradise indeed.
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  • #246
  • May 20, 2009 9:30pm May 20, 2009 9:30pm
did you guys see what happened during Treasury Sec Geithner Speech this morning??

I would be interested in hearing someone's opinion on how price moves during speeches..
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  • #247
  • May 20, 2009 10:25pm May 20, 2009 10:25pm
Quoting Tony112
did you guys see what happened during Treasury Sec Geithner Speech this morning??

I would be interested in hearing someone's opinion on how price moves during speeches..
I saw a 25 pip move in ~10 sec and then 10 pip drop right after
  • #248
  • May 20, 2009 10:45pm May 20, 2009 10:45pm
true, let's not forget it moved about 100 pips further during the following minutes, makes me want to come up with a strategy for news events, always with minimal risk 3-5 pips
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  • #249
  • May 20, 2009 10:51pm May 20, 2009 10:51pm
Quoting Tony112
true, let's not forget it moved about 100 pips further during the following minutes, makes me want to come up with a strategy for news events, always with minimal risk 3-5 pips
your 3-5 pip risk is without adding spread ?
  • #250
  • May 20, 2009 11:01pm May 20, 2009 11:01pm
5 pips max with the spread... I'm thinking in trading after the initial spike... to eliminate huge spreads and also slippage... but after the initial spike price tends to range... so I don't know
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  • #251
  • May 20, 2009 11:03pm May 20, 2009 11:03pm
recently, i've been trying something new... I place a trade at 3 am or 8 am exactly.... 5 pips stop-loss , TP would be not smaller than 40 pips..

the strategy behind it is that the volatility is quite big at around those times
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  • #252
  • May 20, 2009 11:38pm May 20, 2009 11:38pm
Quoting Tony112
5 pips max with the spread... I'm thinking in trading after the initial spike... to eliminate huge spreads and also slippage... but after the initial spike price tends to range... so I don't know
so assuming you have a 1 pip spread (which how many times do you have such a nice spread) the price can move 4 pips against you and take you out ... I guess you're trying to really catch the fountain or the trade that just started running and will not stop ... New traders should probably use slightly bigger spread to compensate for lack of experience..
  • #253
  • May 20, 2009 11:43pm May 20, 2009 11:43pm
Quoting m78
so assuming you have a 1 pip spread (which how many times do you have such a nice spread) the price can move 4 pips against you and take you out ... I guess you're trying to really catch the fountain or the trade that just started running and will not stop ... New traders should probably use slightly bigger spread to compensate for lack of experience..
My spread is almost 0.9 most of the time except during news... the key is the entry of the trade... I've become simply allergic to bigger risks than 5 pips... take-profits, I am flexible... but not stop-loss
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  • #254
  • May 21, 2009 12:30am May 21, 2009 12:30am
Quoting Tony112
recently, i've been trying something new... I place a trade at 3 am or 8 am exactly.... 5 pips stop-loss , TP would be not smaller than 40 pips..

the strategy behind it is that the volatility is quite big at around those times
Jesus, when do you sleep?
  • #255
  • May 21, 2009 3:24am May 21, 2009 3:24am
at around 8:10 GMT there was a nice move...

I used here 5 pip stop and max it was 30 ... have 10 pips locked in and going to sleep LOL with trailing stop 25pip

2x the risk of locked profit is not bad

edit: just took me out while I was writing this ... plus it was a down fountain so I could have gotten in too ... sweet
  • #256
  • May 21, 2009 3:46am May 21, 2009 3:46am
S.I.C.K. - no other words

notice the time frame is still 5 secs.
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  • #257
  • May 21, 2009 4:03am May 21, 2009 4:03am
it moved so much this night I almost felt wind
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  • #258
  • May 21, 2009 4:14am May 21, 2009 4:14am
Two ways I could have traded this: on the initial break out bar (10 pips bar) or at the L formation with my other system
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  • #259
  • May 21, 2009 4:24am May 21, 2009 4:24am
system is perfect when having a 10 pips bar on 5 sec chart. profit almost guaranteed in low volatility.
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  • #260
  • Edited 5:26am May 21, 2009 5:01am | Edited 5:26am
i dont watch GBP/USD

interval was 10 pips
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