DislikedTheres a strong fib 23.8 that turned into support before at 1.3125 areaIgnored
i see it..
Look Sharp/Trade Tight
- #279,781
- Aug 10, 2010 7:30am Aug 10, 2010 7:30am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #279,783
- Aug 10, 2010 7:31am Aug 10, 2010 7:31am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #279,784
- Aug 10, 2010 7:32am Aug 10, 2010 7:32am
- Joined Aug 2009 | Status: (I have a huge) Member | 5,555 Posts
dreams do come true.
- #279,785
- Aug 10, 2010 7:34am Aug 10, 2010 7:34am
- Joined Nov 2008 | Status: fx indices commodities | 4,145 Posts
rat
- #279,787
- Aug 10, 2010 7:36am Aug 10, 2010 7:36am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #279,788
- Aug 10, 2010 7:37am Aug 10, 2010 7:37am
- Joined Aug 2009 | Status: (I have a huge) Member | 5,555 Posts
if took my pips at 23 i would have taken 160 pips (4 trades). at 10 i take about 200 pips and at sl (below sl plus some) i take about 40 pips.
makes a hell of a difference.
getting out is, at least, as important as getting in.
green pips
makes a hell of a difference.
getting out is, at least, as important as getting in.
green pips
once u set your tp to BE++, then let your order rides the train with trailing point set. it is better to not to lose
dreams do come true.
- #279,789
- Aug 10, 2010 7:39am Aug 10, 2010 7:39am
- Joined Aug 2009 | Status: (I have a huge) Member | 5,555 Posts
dreams do come true.
- #279,791
- Aug 10, 2010 7:41am Aug 10, 2010 7:41am
Hello Natch, Rattyo
Bear in mind I'm comparitively new at this but surely SL's depend on what type of trader you are and the time frame you trade in.
I agree with Natch in that if you are looking for breaks and bounces off SR levels (whether they be TL, Fibs or MM) then using a tight stop like 10 pips makes a lot of sense.
If you are wrong then it's going to keep going in the opposite direction to your trade so closing out early makes sense.I've used even tighter stops than that before when using that kind of method and looking at 15 min data.
For example lunchtime today when I see PA not going beyond the 38.2 Fib of this mornings bounce to top and I decide it's not going significantly beyond that in the Short term I set my stop just beyond the last Swing High on the 5 minute chart which is about 5 pips.If I'm wrong I want out quick for a small loss.As it turned out I was right and the 35 pips have been most aggreable
However if you are a swing or position trader going off 1 hour charts or daily charts then your SL is naturally going to be a lot wider.
The point is you adapt your SL for your individual method and personality and what you are comfortable with.
Bear in mind I'm comparitively new at this but surely SL's depend on what type of trader you are and the time frame you trade in.
I agree with Natch in that if you are looking for breaks and bounces off SR levels (whether they be TL, Fibs or MM) then using a tight stop like 10 pips makes a lot of sense.
If you are wrong then it's going to keep going in the opposite direction to your trade so closing out early makes sense.I've used even tighter stops than that before when using that kind of method and looking at 15 min data.
For example lunchtime today when I see PA not going beyond the 38.2 Fib of this mornings bounce to top and I decide it's not going significantly beyond that in the Short term I set my stop just beyond the last Swing High on the 5 minute chart which is about 5 pips.If I'm wrong I want out quick for a small loss.As it turned out I was right and the 35 pips have been most aggreable
However if you are a swing or position trader going off 1 hour charts or daily charts then your SL is naturally going to be a lot wider.
The point is you adapt your SL for your individual method and personality and what you are comfortable with.
- #279,793
- Aug 10, 2010 7:43am Aug 10, 2010 7:43am
- Joined Aug 2009 | Status: (I have a huge) Member | 5,555 Posts
dreams do come true.
- #279,795
- Aug 10, 2010 7:46am Aug 10, 2010 7:46am
- | Joined Sep 2009 | Status: Unusual trader | 1,061 Posts
- #279,796
- Aug 10, 2010 7:49am Aug 10, 2010 7:49am
- Joined Oct 2008 | Status: sideline is a position | 105,186 Posts
those who can, do. those who cant, talk about those who can
- #279,798
- Aug 10, 2010 7:54am Aug 10, 2010 7:54am
- Joined Aug 2009 | Status: (I have a huge) Member | 5,555 Posts
dreams do come true.
- #279,799
- Aug 10, 2010 7:54am Aug 10, 2010 7:54am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #279,800
- Aug 10, 2010 7:59am Aug 10, 2010 7:59am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
long is already in the green! sl is a bit big, but it will go to BE very soon.
green pips to u kuroro.
Don't worry green is my favorite color!! I'll wait a retracement to load another short
I can't see any longs opportunity for me right now...good luck!
COT: The precious data ignored