This explains a lot about my preference for larger time frames.
I would like to believe that the long entry on Eur/Usd on August 2nd 2009 at 1.4338 is a testament to that patience. Had I not waited, I would have exited in Mid-August and it would have been hurtful.
WMD, Good thread. I may have missed it but I would like you to elaborate on your exit strategy.
Other than that, I plan on being an active lurker in this thread
Position halved at 50 pips. Moved sl to 6450 (25 below par).
007: i thought i was late calling it. the pics are for you buddy.
Took the bounce from same lower trend line that netted pips yesterday. Because of the way price accelarated toward it, had to wait for pa to show it was going to hold.
Somethings i saw on the hourly gave me confidence, see if you guys can spot it. It doesn't happen every day, but when it does u can make bumper pips.
So i lifted the flap and pushed the button.
I would vouch for you if I could.Different terminology/same thing.
When I exit (usually 60%) at an equivalent pip count to my stop, I call it buying my stop. It seems everyone else locks in profit by exiting X% and moving to entry. That usually gets me stopped out. I try not to move the stop before the market makes a new point of SorR. If I understand your trade setup your doing something similar.
good reading..
