The finest tool in the world still needs a MAN who KNOWS how to use it.
Cable Update (GBPUSD)
- #189,224
- Dec 24, 2009 1:09am Dec 24, 2009 1:09am
- | Joined May 2009 | Status: Want money, not necessarily skills | 1,113 Posts
For those who cares
"Hate the sin, love the sinner." - Gandhi
- #189,225
- Dec 24, 2009 1:09am Dec 24, 2009 1:09am
different time frame we used requires different trading strategy..5m could overbought while 1hr oversold, 4h bullish while 1d bearish..I want to ask you all the expert trader here: is there any correlation between time frame and target profit? if yes how many pips reasonably TP for each TF? thanks..
Patience + Discipline = 
- #189,226
- Dec 24, 2009 1:15am Dec 24, 2009 1:15am
different time frame we used requires different trading strategy..5m could overbought while 1hr oversold, 4h bullish while 1d bearish..I want to ask you all the expert trader here: is there any correlation between time frame and target profit? if yes how many pips reasonably TP for each TF? thanks..
I think it has more to do with risk reward than anything else I look for at least a 1:2. so if you are working on a five minute chart and need a 20 pip stop then need to look for trades with a profit target of 40 or more.
- #189,230
- Dec 24, 2009 1:21am Dec 24, 2009 1:21am
- | Commercial User | Joined Feb 2008 | 7,914 Posts
Now thanks for this
The finest tool in the world still needs a MAN who KNOWS how to use it.
- #189,232
- Dec 24, 2009 1:22am Dec 24, 2009 1:22am
Not a good time, we would still get to around 1.6110 btw today and tomorrow, so careful. When the time is right to short then short, for now trend is up... could be down at noon or tomorrow
I am short here at 1.6002 sl 1.6050 tp 1.5815
- #189,233
- Dec 24, 2009 1:26am Dec 24, 2009 1:26am
- | Joined May 2009 | Status: Want money, not necessarily skills | 1,113 Posts
Not a good time, we would still get to around 1.6110 btw today and tomorrow, so careful. When the time is right to short then short, for now trend is up... could be down at noon or tomorrow
"Hate the sin, love the sinner." - Gandhi
- #189,234
- Dec 24, 2009 1:27am Dec 24, 2009 1:27am
I set my final T.P 1.6050-1.6060 b4 and retracement proper.
Not a good time, we would still get to around 1.6110 btw today and tomorrow, so careful. When the time is right to short then short, for now trend is up... could be down at noon or tomorrow
- #189,235
- Dec 24, 2009 1:29am Dec 24, 2009 1:29am
Not a good time, we would still get to around 1.6110 btw today and tomorrow, so careful. When the time is right to short then short, for now trend is up... could be down at noon or tomorrow
you may be right but this trade was set up yesterday, its a day late but it hit at the perfect time of day for my system.
I was looking for it to hit this level within an hour of London open and so far going perfect.
Have to trade my system but thanks
Shawn
- #189,237
- Dec 24, 2009 1:32am Dec 24, 2009 1:32am
I am saying any form of retracement is not going to be a heavy one, for me trend remains NORTH entered at 1.5950, still searching for T.P to clear out
Just a simple close above 1.60 means tomorrow is bullish 70% aswell.