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  • #291,141
  • Sep 10, 2010 1:10pm Sep 10, 2010 1:10pm
Quoting mfoste1
i dont think the guy ever showed any proof the account was live..........
Thankfully I've never been impressed by someone else's performance but my own.

I remember trading the beast in october of 2008, good days and terrible days, I blew my account waiting for a trade to come back and 940 pips later I got my margin call, hope kill my account that day. 940 pips against my trade in just a single day. This past May 6, with the "flash crash" the beast drop +1000 pips in a few hours.

Indeed if you manage to be in sync with the market you could do a lot money with it, but I'm not that lucky.

Anyway, there are a lot of good traders out there, some will share they knowledge and views, but most of them won't. That old saying is true to trading "Plan your trade and trade your plan" that's all.
  • #291,142
  • Sep 10, 2010 1:25pm Sep 10, 2010 1:25pm
Quoting ibicuy
Ciao T.,

you think could reach 2695 this evening? I'm in with short from 2730 and I'm thinking to go out before closing....

what U think??

Thanks

I.
Technically speaking it can reach it, but its low volume trading, not sure thou where the close would be.. 2695 is close to low BB and below 5/8 level and its going sideways atm... Possible close is between 2695-2725
  • #291,143
  • Sep 10, 2010 1:30pm Sep 10, 2010 1:30pm
...grazie...

as usual

good we

I.
  • #291,144
  • Sep 10, 2010 1:30pm Sep 10, 2010 1:30pm
Quoting ibicuy
Ciao T.,

you think could reach 2695 this evening? I'm in with short from 2730 and I'm thinking to go out before closing....

what U think??

Thanks

I.
You should never hold any position over the weekend.
  • #291,145
  • Sep 10, 2010 1:33pm Sep 10, 2010 1:33pm
Quoting mokonni
You should never hold any position over the weekend.
Unless ur equity can support it....

Ofcourse u can hold it. Placing a s/l and holding a position over the weekend is a common practise when u r trading longer TFs
  • #291,146
  • Sep 10, 2010 1:48pm Sep 10, 2010 1:48pm
Quoting T@rantula
Unless ur equity can support it....

Ofcourse u can hold it. Placing a s/l and holding a position over the weekend is a common practise when u r trading longer TFs
Stop loss? If it gaps 300 pips? It's too risky .Atleast for me.
  • #291,147
  • Sep 10, 2010 1:52pm Sep 10, 2010 1:52pm
Quoting mokonni
Stop loss? If it gaps 300 pips? It's too risky .Atleast for me.

what are you talking about gap 300 pips?
  • #291,148
  • Sep 10, 2010 2:03pm Sep 10, 2010 2:03pm
Quoting sisse
Week is closing in a textbook definition of consolidation /range.
Besides the sneak attack beat down on the euro in the dead hours of Labor Day it was just another low volume rangebound week, ~150 pip range for the week outside of Labor Day, mostly ~.2640 - .2760. Started out with a bang & got everybody worked up but it pretty much a snooze.

So euro took the fall because of supposed problems with the ez bank "stress tests"? Deutsche Bank was gonna have to come up with an extra $9 billion or something like that? Is that a joke or what? DB has janitors who make more than that...

Have a good weekend all.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #291,149
  • Sep 10, 2010 2:09pm Sep 10, 2010 2:09pm
10 American Industries That Will Never Recover

http://www.huffingtonpost.com/2010/0...ml#slide_image
  • #291,150
  • Sep 10, 2010 2:15pm Sep 10, 2010 2:15pm
time to sleep now...wish you all the best.. see you on monday..take care
  • #291,151
  • Sep 10, 2010 2:24pm Sep 10, 2010 2:24pm
Quoting mfoste1
what are you talking about gap 300 pips?
hows trading going mate?
  • #291,152
  • Sep 10, 2010 2:27pm Sep 10, 2010 2:27pm
Quoting mokonni
Stop loss? If it gaps 300 pips? It's too risky .Atleast for me.

My s/l is 40 pips and my t/p is 5 times that number and im not talking about intraday trading
  • #291,153
  • Sep 10, 2010 2:29pm Sep 10, 2010 2:29pm
Quoting mfoste1
what are you talking about gap 300 pips?
...i just couldnt have resisted LOL....that smiley lool and gap 300 pips hhahaha
  • #291,154
  • Sep 10, 2010 2:34pm Sep 10, 2010 2:34pm
Quoting T@rantula
My s/l is 40 pips and my t/p is 5 times that number and im not talking about intraday trading
You won't get your SL filled at 40 Pips if it gaps 300pips over the weekend .
SL is no guarantee. You get the next executable price after your SL is reached
  • #291,155
  • Sep 10, 2010 2:37pm Sep 10, 2010 2:37pm
Quoting mokonni
You won't get your SL filled at 40 Pips if it gaps 300pips over the weekend .
SL is no guarantee. You get the next executable price after your SL is reached

it will be filled ofc as s/l is server based
  • #291,156
  • Sep 10, 2010 2:49pm Sep 10, 2010 2:49pm
Quoting T@rantula
it will be filled ofc as s/l is server based
No!

If for example EU closes on Friday at 1.2500 and opens on Sunday at 1.2800 there is no executable price between.
If your SL was 1.2540 it will be executed at 1.2800.


You should check with your broker.
  • #291,157
  • Sep 10, 2010 2:55pm Sep 10, 2010 2:55pm
Quoting bksujal
hows trading going mate?

its going well.....I had three trades this week, all winners
two short au for +15 and +52, and holding my eu shorts from 2908.
  • #291,158
  • Sep 10, 2010 2:59pm Sep 10, 2010 2:59pm
Quoting mokonni


You should check with your broker.

LOL...i know what im talkin about...because I have been doing that many times...and there were times when s/l got hit and executed just as intended.

If it were otherwise id never leave my trade over the weekend
  • #291,159
  • Sep 10, 2010 3:10pm Sep 10, 2010 3:10pm
does anyone think we could see a re test of 1.33 here? the macro data in the past couple of weeks has not been that promising and with the outside chance of a double dip in the US i sense a potential rebound here.....what are everyone else's thoughts? a bit optimistic?

i missed entry around 1.26 but if we get down there again i may enter long with a 100-150 pip stop loss...
  • #291,160
  • Sep 10, 2010 3:12pm Sep 10, 2010 3:12pm
Quoting T@rantula
LOL...i know what im talkin about...because I have been doing that many times...and there were times when s/l got hit and executed just as intended.

If it were otherwise id never leave my trade over the weekend
Excuse my ignorance - it's important for newbies to understand how a "normal" StopLoss works:

Q.: But stop losses don’t guarantee a get out do they? If the market tanks or skips past your stop you can lose a lot right?

A: An ordinary stop loss will not guarantee you get out and if something happened overnight it definitely would not save you. But if you ask for a 'guaranteed stop loss - you are guaranteed to come out at the set stop loss whatever happens. The only problem is they charge you extra spread for having the comfort of that so if you did a guaranteed stop on every trade it would cost you quite a bit over time...so you have to decide whether to go for ordinary or guaranteed stops...This is one of the advantages of using a market maker instead of going direct access - market makers are able to offer you guaranteed stop losses which do not exist if you deal direct in the market.
Q.: What is the difference between stop losses and guaranteed stop losses?

A: A regular stop-loss means that the cfd broker will take a customer out of a losing position on a 'best efforts' basis once a particular level is reached. Your broker will do its best to close it, but market 'gaps' can cause problems. This is where the market leaps up or down suddenly, leaving the CFD provider unable to close your position until the price has fallen beyond your stop-loss. e.g the stop loss may be at £1.50 per share, but the cfd broker is only able to sell the position at £1.45.

A 'guaranteed' stop loss means that the customer will be taken out of his position at exactly the level specified. There is a small charge to place a guaranteed stop loss, and you may only be able to place a guaranteed stop loss at the time of opening a trade. So a guaranteed stop loss is exactly that, guaranteed to be executed at your set level with no slippage.

http://www.contracts-for-difference....op-losses.html
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