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Would you take profit with 500pips profit or?

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  • Post #21
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  • Apr 19, 2007 5:41pm Apr 19, 2007 5:41pm
  •  Bemac
  • Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Ok folks,
might I suggest that now would be a good time to practice emotional control.

I know it's tough to turn the other cheek when someone {the Market perhaps} disses you but there is {I believe} a common objective among Traders and that is to move the emotional graph From /\/\/\ To ------

Lock in as much as you need to to ensure the Remaining Open Position cannot Cost you your Hard Earned Money. This is not a new idea but, like sharks, has been around for quite a while becuse it works.
 
 
  • Post #22
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  • Apr 19, 2007 11:36pm Apr 19, 2007 11:36pm
  •  barak
  • | Joined Jan 2007 | Status: Jacko Turtle since May 08 | 334 Posts
Chart is up, looks like the short has to wait longer for profit.

Yap Bemac, locking in profit sounds good. Added SL on trade 1 to +300pips.

Trade 1 +707 0.5 lots
Trade 2 -96 0.2 lots
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Still waters run deep
 
 
  • Post #23
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  • Apr 20, 2007 5:55pm Apr 20, 2007 5:55pm
  •  dougadam
  • | Joined Apr 2007 | Status: Member | 1 Post
Quoting bravado
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the difference between you and me is that i am a pro.

do not reply to this message as i do not respond to amateurs.
Ignored
If you are a pro why are you asking?
{ Links Removed }
 
 
  • Post #24
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  • Apr 20, 2007 6:05pm Apr 20, 2007 6:05pm
  •  The Fxorce
  • Joined Feb 2007 | Status: AKA Gatersaw | 386 Posts
i'm not big on hedging. you just spent 6-8 pips to do what you could have done by closing a portion of your initial trade.
IMO i would move stoploss every day to 10 pips below previous day's low. when you get knocked out wait for the audjpy to drop again and wait for a break of previous day's high.

oh and congrats on that trade, but do not get a big ego. that is the absolute worst thing a trader can do. we are all humbled by the market.
It really is that easy.
 
 
  • Post #25
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  • Apr 20, 2007 8:14pm Apr 20, 2007 8:14pm
  •  Bemac
  • Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Quoting THE FxORCE
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oh and congrats on that trade, but do not get a big ego. that is the absolute worst thing a trader can do. we are all humbled by the market.
Ignored
I know some consider it bad form to simply agree with the Posts of Others but...
Ditto !
 
 
  • Post #26
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  • Apr 20, 2007 10:16pm Apr 20, 2007 10:16pm
  •  barak
  • | Joined Jan 2007 | Status: Jacko Turtle since May 08 | 334 Posts
Tis good advice, even if you can try it with a bit of sarcastic remark (not that it is), it will seem kinder words to a noob (haha). I've seen worse remarks.
Still waters run deep
 
 
  • Post #27
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  • Last Post: Jun 20, 2009 3:23am Jun 20, 2009 3:23am
  •  MyaNyx
  • | Additional Username | Joined May 2009 | 305 Posts
What system did you use?
 
 
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