The finest tool in the world still needs a MAN who KNOWS how to use it.
Cable Update (GBPUSD)
- #189,221
- Dec 23, 2009 11:02pm Dec 23, 2009 11:02pm
- | Commercial User | Joined Feb 2008 | 7,918 Posts
- #189,224
- Dec 23, 2009 11:09pm Dec 23, 2009 11:09pm
- | 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 23, 2009 11:09pm Dec 23, 2009 11:09pm
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 23, 2009 11:15pm Dec 23, 2009 11:15pm
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 23, 2009 11:21pm Dec 23, 2009 11:21pm
- | Commercial User | Joined Feb 2008 | 7,918 Posts
Now thanks for this
The finest tool in the world still needs a MAN who KNOWS how to use it.
- #189,232
- Dec 23, 2009 11:22pm Dec 23, 2009 11:22pm
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 23, 2009 11:26pm Dec 23, 2009 11:26pm
- | 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 23, 2009 11:27pm Dec 23, 2009 11:27pm
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 23, 2009 11:29pm Dec 23, 2009 11:29pm
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 23, 2009 11:32pm Dec 23, 2009 11:32pm
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.