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The System II (Yes with irony)

  • #8,481
  • Oct 6, 2009 2:07am Oct 6, 2009 2:07am
Quoting mac1956


There was a better entry point at 14738 but I missed it.
Good morning everyone,

I was lucky enough to enter short at 31 (manually) when I saw the price moving. And lucky enough to see hesitation at 11 and close the trade. +20 to start the day. Come on Rafa!
  • #8,482
  • Oct 6, 2009 2:11am Oct 6, 2009 2:11am
Quoting elizo
Good morning everyone,

I was lucky enough to enter short at 31 (manually) when I saw the price moving. And lucky enough to see hesitation at 11 and close the trade. +20 to start the day. Come on Rafa!

Yup - that's a lesson to me Elizo - good one.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,483
  • Oct 6, 2009 2:15am Oct 6, 2009 2:15am
Quoting mac1956
Yup - that's a lesson to me Elizo - good one.

Pulling up the SL was dumb too - perfect #2 situation for a BE!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,484
  • Oct 6, 2009 2:19am Oct 6, 2009 2:19am
Quoting mac1956
Pulling up the SL was dumb too - perfect #2 situation for a BE!
i'm holding on mac
  • #8,485
  • Oct 6, 2009 2:20am Oct 6, 2009 2:20am
Quoting mac1956
Pulling up the SL was dumb too - perfect #2 situation for a BE!
Sure. If you pull up the SL, it has to be at least to BE in first instance, in my opinion. Otherwise, put it above/under the next FCR recognised, so you don't get caught in a hiccup.
  • #8,486
  • Oct 6, 2009 2:23am Oct 6, 2009 2:23am
Quoting FOURX
i'm holding on mac
Rooting for you Fourx!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,487
  • Oct 6, 2009 2:27am Oct 6, 2009 2:27am
Quoting elizo
Sure. If you pull up the SL, it has to be at least to BE in first instance, in my opinion. Otherwise, put it above/under the next FCR recognised, so you don't get caught in a hiccup.

Igindex only lets you get to 11 pips from the current price so I should have acted earlier to do just that - ragged trade in the end - no finesse at all. Living and learning...
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,488
  • Oct 6, 2009 2:51am Oct 6, 2009 2:51am
Should GBP Halifax HPI m/m, due in 10 minutes, be considered an announcement to be wary of?

thanks
testing the market
  • #8,489
  • Oct 6, 2009 2:59am Oct 6, 2009 2:59am
Quoting John888
Should GBP Halifax HPI m/m, due in 10 minutes, be considered an announcement to be wary of?

thanks
Hi John,

You should consider only those EUR or USD related anouncements....

Apart from that, many of these shouldn't make you change your mind about to get involve or not into a deal, only those very big ones....

Anyways, PA is gonna show you if it is affected or not by the news.....

Hope it helps you....
  • #8,490
  • Oct 6, 2009 3:02am Oct 6, 2009 3:02am
out be
  • #8,491
  • Oct 6, 2009 3:04am Oct 6, 2009 3:04am
Quoting jplo
Hi John,

You should consider only those EUR or USD related anouncements....

Apart from that, many of these shouldn't make you change your mind about to get involve or not into a deal, only those very big ones....

Anyways, PA is gonna show you if it is affected or not by the news.....

Hope it helps you....
Thanks, if there was an impact, it was minor.

cheers
testing the market
  • #8,492
  • Oct 6, 2009 3:08am Oct 6, 2009 3:08am
Quoting FOURX
out be

Phew!!!
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,493
  • Oct 6, 2009 3:16am Oct 6, 2009 3:16am
Quoting mac1956
Igindex only lets you get to 11 pips from the current price so I should have acted earlier to do just that - ragged trade in the end - no finesse at all. Living and learning...
One of the reasons why I moved from Ig Index. The other one is spreads. I tried to send you a PM about this but apparently you have this feature switched off.
  • #8,494
  • Oct 6, 2009 3:24am Oct 6, 2009 3:24am
Quoting elizo
One of the reasons why I moved from Ig Index. The other one is spreads. I tried to send you a PM about this but apparently you have this feature switched off.

I've adjusted the PM settings - didn't realise. Appreciate your help.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,495
  • Oct 6, 2009 3:40am Oct 6, 2009 3:40am
Quoting mac1956
Igindex only lets you get to 11 pips from the current price so I should have acted earlier to do just that - ragged trade in the end - no finesse at all. Living and learning...
hey mac

i have minimum 5 away with igindex pure deal?
  • #8,496
  • Oct 6, 2009 3:44am Oct 6, 2009 3:44am
this market is really a bitch.. as soon as I left it moved.. now that i am back its conctipated again.. getting sick of it..
I think i need a vacation and a break from it.. lol
  • #8,497
  • Oct 6, 2009 3:52am Oct 6, 2009 3:52am
Quoting FOURX
hey mac

i have minimum 5 away with igindex pure deal?

Yea me too. But once the trade is live it won't let me adjust to within 11 pips of the price on EURUSD.
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,498
  • Oct 6, 2009 4:01am Oct 6, 2009 4:01am
There's a really good post on this thread about the difference between a Stop order and a Limit order and when they should be placed - I can't find it - anyone know the one I mean? Where is it?
$urvive, Pre$erve & RESPECT THE TEACHER
  • #8,499
  • Oct 6, 2009 4:07am Oct 6, 2009 4:07am
Trading — Order Types Order Types

Client terminal allows to prepare requests and request the broker for execution of trading operations. Moreover, terminal allows to control and manage open positions. For these purposes, several types of trading orders are used. Order is a client's commitment to brokerage company to perform a trade operation. The following orders are used in the terminal: Market order, Pending order, Stop Loss and Take Profit.

 

  1. Market Order
    Market order is a commitment to the brokerage company to buy or sell a security at the current price. Execution of this order results in opening of a trade position. Securities are bought at ASK price and sold at BID price. Stop Loss and Take Profit orders (described below) can be attached to a market order. Execution mode of market orders depends on security traded.
  2. Pending Order
    Pending order is the client's commitment to the brokerage company to buy or sell a security at a pre-defined price in the future. This type of orders is used for opening of a trade position provided the future quotes reach the pre-defined level. There are four types of pending orders available in the terminal:

     

    1. Buy Limit — buy provided the future "ASK" price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase;
    2. Buy Stop — buy provided the future "ASK" price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing;
    3. Sell Limit — sell provided the future "BID" price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall;
    4. Sell Stop — sell provided the future "BID" price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.

  • #8,500
  • Oct 6, 2009 4:08am Oct 6, 2009 4:08am
Quoting mac1956
There's a really good post on this thread about the difference between a Stop order and a Limit order and when they should be placed - I can't find it - anyone know the one I mean? Where is it?

do you mean this ?: I copied it on my PC

scenario :

1) If you want to buy and price is below the desired entry point then use Buy Stop
2) If you want to buy and price is above the desired entry point then use Buy Limit

Sell scenario :

3) If you want to sell and current price is above the desired entry point then use Sell Stop
4) If you want to sell and current price is below the desired entry point then use Sell Limit
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