DislikedWhat was that within 5 sec I dead!!!! No News. I forgot COILING. Learning to trade UJ.
Cheers,Ignored
but seems it's just lip service, if they throw in money, should be more than 40 pips.
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DislikedWhat was that within 5 sec I dead!!!! No News. I forgot COILING. Learning to trade UJ.
Cheers,Ignored
DislikedHi, fti.
My profit range is not 50pips, it is the range in which I think rescue is appropriate. .... I can withstand a 30pips move against me.....But how can I know that 50pips move against me from the top of my perceived retracement is not actually a reversal.
60pips equals 2% of my capital with minimum position size that's why I use the 50pips range.
.......
@auxesis
How can I be sure that a S/R will hold? What kind of action should I see before I'm sure it...Ignored
DislikedMyTbo, fti commented many times that using pips to mesure rescue level is rigid thinking and it might bring ruin coz when marke goes against you for 50 pips, it can keep going against you for many other 50 pips. Instead pips, we should watch how the move unfolding to decide rescue level or flip.
About S/R, as fti and auxesis mentioned before, it's not static. We have to see the S/R formed on real time to decide a price level is holding or cracking. We can't forsee a level is going to be a S/R or not.Ignored
DislikedAuxesis, it took all week but the gap on the E/$ is now closed. Let's see what happens next.Ignored
DislikedI don't wait PA to go against me 50pips to enter a rescue. I don't know what made you think I do it. I look for rescue opportunities within this range. I'll post a chart and try to make my point clear.Ignored
DislikedI don't wait PA to go against me 50pips to enter a rescue. I don't know what made you think I do it. I look for rescue opportunities within this range. I'll post a chart and try to make my point clear.
Below is a chart of what I did today. I've drawn the S/R areas just for the discussion here. So you can see my 1st entry gets into trouble, on the way up I look for rescue opportunities, I don't wait 50pips. Where I bailed out was another rescue opportunity, but I didn't risk since it looked like upside momentum is building and value per pip would...Ignored
DislikedAuxies,
If my rescue position was bigger, BE would be where you pointed. Since rescue was very close to initial entry I didn't go for 3X rescue. Is it wise to enter strong rescues very close to intitial entry?
Thanks for your commentsIgnored
DislikedMyTbo, there should not be a range for rescue opportunity-- what if the rescue opportunity comes at 70 pips level? Instead, there's a range for the decission of cutting according to your capital.Ignored
Dislikedimjscn,
In one of my previous post I mentioned that 60pips is 2% of my capital,
MyTboIgnored
Dislikedimjscn,
In one of my previous post I mentioned that 60pips is 2% of my capital, and this is the reason for the 50pips range. I guess you have missed this part in my post. If opportunity comes outside of the range, then my timing has been terrible, I've been wrong and I have to practice more Point is that realizing that I'm wrong would cost me 2%. A few times it costed me about 10% and I made it back after that, but the last time it costed me 30% and believe me the battle was exhausting and the result very painful. I almost lost the balls after...Ignored
DislikedInfo
found a great iPhone tool:
Swiss forex.
Good to baby seat while away
from the trading room.
Check it out.
Now I go back to dance last Friday gap!
Edit: flat now after a very long war. Caught
in the sutnami. Now I ascend from hell
with victory. Time to enjoy a short vac in nycity.
Cheer.Ignored