EURUSD

move your stop if your in the green. NEVER give money back to the market if you can prevent it...more so when trading short term

edit: and move your stop to some positive pips be+1 or 5, 10 depending on how you sit

If it break 1.2320 , i will take a new short for the first trade in day... Any comment ?

COKE - it looks like your chart could still be in play...

I exited @ 2319 after it didn't charged through the LTL in that single move.

Now I will wait for a retrace on for my 5M stoch or short again when it breaks down the LTL.

To me, its down now until FO or LO.

got me a new chair..things comfy. got another monitor on the way now too, i got a nice samsung so it's getting there. I'll post some pics when it's all done.

cigarette time i'll bb and I closed one short for 30 pips just a second ago, leaving stop alone @ be+ on the other

Out and flat.

great, closed. waite for a re entry then

And what if it moves 5 pips in your direction and then turns around on you....what do you do then? What elements would effect your decision? How do you manage to lock profit and also let winning trades run? What's better: predictive techniques or reactive techniques (examples)?

Just a pop quiz 'cause I'm bored.

...

Inserted Video

Took 3 short positions at 1.2410, 1.2350, and 1.2300. I got a feeling it might hit above 1.24 again before coming down strongly. Got pending shorts at 1.2470 and 1.2510... hope it strides towards 1.200 by the end of the week!

That's a good question, and one I've pondered over for quite some time. For me, once a trade is in profit of more than 15 pips, I will move the sl to be +spread. If it turns around and stops me out, so be it. If I'm 25 in profit, my sl will be be +spread+5.....and there it will stay until I reach my target, unless my target is 200 pips of course!!

If I get stopped out in either of the 2 scenarios, and then the pa indeed goes back to the direction I expected, then I will re-enter where I got stopped out.

If I get stopped out and the pa goes away from me, then my analysis sux and I was saved at (at least) be +spread.

The only time I will ignore this rule is for (say) a short just below pivot, which of course means that my sl will be above the pivot somewhere. In that case, I will take the loss if the pa comes back across the pivot before I was able to get it far enough into profit to set a reasonable sl in profit.

Doesn't always work in my favour, but it does keep me from losing too much due to bad entries etc etc

5c

Due to mixed signals in my strategy I'm not taking this signal just yet. #688

if 2287 holds as the low, hidden bullish divergence formed....we may go higher, the break of the wedge might have been a fake out.

PV,

When price moved 5 pips or less in my direction, I usually don't move my stop. I more trade for 30 pips ish at a time so my method is very similar to realjumpers actually.
There are times where I will just 1 click close scalp 5 pips but usually that's my intention from the start and I'm sort of expecting it to turn around so I close fast.

I will also a lot of times split my position if half so I have more options whether the trade is running the way I intended or not.

So really most of the time for me 5 pips I don't worry about moving my stop...when I get to 15 or so I always move to at least be+ spread or 5.

Exited the other half of my position for +39 pips. Looks like my new method may work out, I was profitable for the day. w00t.

May 17, 2010


Market Forecast: From the Editors of "The Complete Investor"

-------------------------------------
Inside this week's update...

***** Enjoy the next few weeks. It won't last
***** Europe 's descent may have hit a pause.

Today's outlook reminds us of the old Irish blessing, “May you be in heaven half an hour before the devil knows you're dead.” The good news is that the short-term picture looks considerably brighter. For the next month or two, we expect to enjoy a temporary reprieve from the long-term trends. Too bad it won't last.

This morning the euro hit a new four-year low, which ironically may be a positive event for the European countries. It should benefit European exports, which will boost the European economy. That in turn should help put a floor under the euro. Combined with the nearly $1 trillion bailout package announced last week, this should help stabilize the continent's current drift towards recession.

Of course a cheaper euro may not be such a good thing for U.S. exports. Our dollar is an innocent beneficiary of euro weakness and has risen accordingly. However, the business cycle in the U.S. is in a powerful trend. As my friend at the Economic Cycle Research Institute pointed out to me the other day, the group’s leading indicator shows the business cycle is in our favor. One sign of this is the recent uptrend in employment. We've gained 200,000 jobs recently, a move which will inspire more people to look for work and it implies more spending and growth.

Another near-term positive is the recent decline in commodity prices. Copper, oil, and other industrial materials have corrected sharply, which bodes well for business costs.

All these factors add up to another possible rally in the U.S. markets, in addition to a possible bottoming of both European stock markets and the euro. It could also indicate that gold may hit some short-term resistance at around $1250 (before resuming its long-term upward spiral). This is the first time we've seen any resistance in gold prices for some time, so it's probably due.

But while we enjoy this brief Spring Break, let's not forget that the long-term trends remain unchanged.

I trail the stops early on until BE. From there I will usually split the trade into thirds and move stops and profit taking at different stages. I will usually leave at least one third to be stopped out though.

Predict or react? I think being able to react is pretty important, if it can be done skillfully. It's the advantage a discretionary trader has over a strict system.

http://www.forexlive.com/107144/all/...-european-open

Better to break even than to take a loss. Stupid stop hunts seems like as soon as you put in the stop loss they creep the price towards it, take it off, price starts going back in your direction. I am going to use the forex executor pro for hidden stop losses. Its well worth the money.

What kind of volatility can we see with this?

French Prelim Non-Farm Payrolls q/q tonight?