If I know how, I tell You!! Few but Good!!
- #302
- Dec 2, 2009 1:24pm Dec 2, 2009 1:24pm
ya if u do that.. that means ur net profit will minus away 3pips i think. since the spread is 3pips.haha. i am blur now. lol. am i wrong?
cos u put it this way. long at 1.6600 and the order will be profitable after 1.6603. so if it hits 1.6650. u will earn from 1.6603 to 1.6650 which is 47 pips.
and when the trade go against u. it went to 1.6550. u will lose from 1.6603 till 1.6650 which is 53 pips. no ?
When a buy trade is entered at 1.6650 you would want to put a take profit at 1.6704 (with a 4 pip spread) or 1.6703 (with a 3 pip spread) and a stop loss at 1.6600 so in this case you would make a profit of 50 pips after spread and if it went against you you would lose 50 pips. You would do the same thing on a short trade. Most likely if the price moves 50 pips in your favor it will hit your take profit order. If not you could close it manually.
ya if u do that.. that means ur net profit will minus away 3pips i think. since the spread is 3pips.
cos u put it this way. long at 1.6600 and the order will be profitable after 1.6603. so if it hits 1.6650. u will earn from 1.6603 to 1.6650 which is 47 pips.
and when the trade go against u. it went to 1.6550. u will lose from 1.6603 till 1.6650 which is 53 pips. no ?
Thanks zebulon... indeed it was long @ 1.6650..i failed to notice another G bar @ 1.6600 to 1.6650. I then took d long @1.6650, SL : 1.6550 (100 pips as we play trend) TP: 1.6700.
Let see if TP is reached today. As of writting this, i'm 30 pips in profit.
Guys, really, it is still 50 pips becoz we sell @ bid price and buy @ ask price.
Let see if TP is reached today. As of writting this, i'm 30 pips in profit.
Guys, really, it is still 50 pips becoz we sell @ bid price and buy @ ask price.
Thanks zebulon... indeed it was long @ 1.6650..i failed to notice another G bar @ 1.6600 to 1.6650. I then took d long @1.6650, SL : 1.6550 (100 pips as we play trend) TP: 1.6700.
Let see if TP is reached today. As of writting this, i'm 30 pips in profit.
Guys, really, it is still 50 pips becoz we sell @ bid price and buy @ ask price.
thats my thought
- #307
- Dec 2, 2009 10:02pm Dec 2, 2009 10:02pm
Thanks ja5on for d thought. That's why i would like to ask opinion from u guys especially zebulon on SL (in range play and trend play).
Again, i think most of us misunderstood what zebulon is trying to say on buy @ ask and sell @ bid. Spread will surely not included. It is just the round numbers that he used. He sell by refering to bid price and buy to ask price. Don't confuse whether the price on chart(d round number level) has reached or not becoz price on chart based mostly on bid price. Just my 2 cents.
Again, i think most of us misunderstood what zebulon is trying to say on buy @ ask and sell @ bid. Spread will surely not included. It is just the round numbers that he used. He sell by refering to bid price and buy to ask price. Don't confuse whether the price on chart(d round number level) has reached or not becoz price on chart based mostly on bid price. Just my 2 cents.
Again, i think most of us misunderstood what zebulon is trying to say on buy @ ask and sell @ bid. Spread will surely not included. It is just the round numbers that he used. He sell by refering to bid price and buy to ask price. Don't confuse whether the price on chart(d round number level) has reached or not becoz price on chart based mostly on bid price. Just my 2 cents.
About SL, i personnally use 50 pips
Thanks Zebulon.. but i think for trend play SL of 50 would easily reached.
Haha..another 50 pips score just now..TP 1.6700 has been triggered.
To look for another opportunity. Now we have 3 consecutive G Bar, so should we set for another buy order @ 1.6750?
thanks alot. haha. so zebulon, what other system or method do u trade by. cos i understand that u donnt always monitor the charts. my situation is almost same as yours. haha. so i might be able to pick up some stuff from u. =D
