Sell fiber around 2350, TP 2300.
It's not about how much you make, it's about how much you don't lose.
- #13,944
- Jul 1, 2010 11:14pm Jul 1, 2010 11:14pm
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #13,945
- Jul 2, 2010 3:59am Jul 2, 2010 3:59am
I'm short here and all is well but 82.50 looks pretty spiky on the daily so I don't have very high hopes yet.
It's not about how much you make, it's about how much you don't lose.
- #13,948
- Jul 6, 2010 4:02pm Jul 6, 2010 4:02pm
Trades like the one shown below are typically real no-brainer trades. Break of trendline, retest, plus confluence of support becoming resistance. Was a little late with spotting this one, as I was watching our football team reach the world cup final. 
It's not about how much you make, it's about how much you don't lose.
- #13,951
- Jul 13, 2010 8:53am Jul 13, 2010 8:53am
Sawatdee khrap, 
I don’t think that money management regarding stop size is a big issue at all when trading FX since you can trade mininlots or even microlots. So no matter how small your account may be, you always will be able to afford any stop size according your percent risk.
So it’s more a technical question where to place the stop: If you use a volatility stop or place it above/below a near support or resistance area.
It’s also a matter of trading style you prefer.
- greater stop means greater hit rate and less risk reward ratio but smaller drawdowns
- smaller stop means less hit rate but higher risk reward ratio which usually comes along with a greater drawdown periods.
I’d really like to hear what technique people use with this method.
I don’t think that money management regarding stop size is a big issue at all when trading FX since you can trade mininlots or even microlots. So no matter how small your account may be, you always will be able to afford any stop size according your percent risk.
So it’s more a technical question where to place the stop: If you use a volatility stop or place it above/below a near support or resistance area.
It’s also a matter of trading style you prefer.
- greater stop means greater hit rate and less risk reward ratio but smaller drawdowns
- smaller stop means less hit rate but higher risk reward ratio which usually comes along with a greater drawdown periods.
I’d really like to hear what technique people use with this method.
- #13,952
- Jul 13, 2010 3:55pm Jul 13, 2010 3:55pm
Still working on entries and stops. Today for me was one of those typical days that a lot of you will probably recognize. One trade had a stop that was just a few pips too narrow, a second trade that had an entry that was just a couple of pips too high to get triggered, lol. Oh well...
It's not about how much you make, it's about how much you don't lose.
- #13,956
- Edited 6:14pm Jul 23, 2010 4:39pm | Edited 6:14pm
- | Joined Jun 2009 | Status: Trader | 4 Posts
Still working on entries and stops. Today for me was one of those typical days that a lot of you will probably recognize. One trade had a stop that was just a few pips too narrow, a second trade that had an entry that was just a couple of pips too high to get triggered, lol. Oh well...
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I hear you... LOL... Same happens to me quite often.
On the 1st pic of the EURJPY, notice that the bounce took place exactly in the 38 fib of the larger swing. Placing the stop under it would have been safer. Of course, it is easy to say that after the fact.
Also, I am using weekly pivots and/or fibs to place entries and stops in conjunction with horizontal levels because I have noticed that sometimes price slips a few pips from horizontal levels and bounces those others instead.
Nice pics, thanks for sharing.
- #13,959
- Jul 28, 2010 11:53pm Jul 28, 2010 11:53pm
- Joined Nov 2009 | Status: Thx G, Malc, D55, Fontu & Hatch | 3,196 Posts
