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  • #301,461
  • Edited 2:06am Oct 6, 2010 1:54am | Edited 2:06am
Quoting FibbinArchie
Arrgh, the pain, the pain (of being stuck the wrong side of the spread for 12 hours), what do I do? Cover at B/E and of course just before the market gets smashed? That's my normal trick.
Why move it to BE? You move it to be BE, price hits your SL and then continues its way in the direction that you thought it would. You have gained nothing and mised out on everything. I bet everyone has experienced this. You are moving it to BE because of fear and greed.

You did your analysis and you placed a trade by putting your SL in a logical position, hopefully just risking 1% of your account, and setting your profit targets... now it is out of your hands.

Now, if it doesn't move in the desired direction as quickly as you thought it would, you need to give it some time and breathing space. Once it has moved significantly in the desired direction, but doesn't reach your profit targets, then you will need to manage your trade, but for me moving my SL to BE is not part of it.

I am still in my USDCHF long trade and have no plans to move my SL to BE at any point. I have some targets in my mind and I will play it as I see it, but under no circumstances will I ever move my SL to BE on this one!

Remember I am a higher timeframe swing trader and as a daytrader or scalper the above rules do not really apply. Just a thought!
  • #301,462
  • Oct 6, 2010 1:56am Oct 6, 2010 1:56am
Quoting The Fool
kinda dizzy way up here...I think we can climb higher though..kinda had my heart set on .39xx for today....
I prefer base jumping...
  • #301,463
  • Oct 6, 2010 1:57am Oct 6, 2010 1:57am
Quoting bbakker
Remember I am a higher timeframe swing trader and as a daytrader or scalper the above rules do not really apply. Just a thought!
Yup. I scalp in at 0.1-0.2% of account per pip and the move to lock in some profit without jeopardizing the further run of the trade is given lots of forethought.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #301,464
  • Oct 6, 2010 1:58am Oct 6, 2010 1:58am
I'm on the sidelines until we come out of this consolidation, let the bastards show their hand I say. Still has an upward bias
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Look Sharp/Trade Tight
  • #301,465
  • Oct 6, 2010 2:00am Oct 6, 2010 2:00am
Quoting bbakker
Why move it to BE? You move it to be BE, price hits your SL and then continues its way in the direction that you thought it would. You have gained nothing and mised out on everyhting. I bet everyone has experienced this. You are moving it to BE because of fear and greed.

You did your analysis and you placed a trade by putting your SL in a logical position, hopefully just risking 1% of your account, and setting your profit targets... now it is out of your hands.

Now, if it doesn't move in the desired direction as quickly as you thought it...
totally agree.

did you see my post about USD/CHF
what do you think ?

thanks

http://www.forexfactory.com/showthre...12#post4075512
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #301,466
  • Edited 2:20am Oct 6, 2010 2:04am | Edited 2:20am
Quoting PriceVolume
Yep. CHF has already broken out, but we'll have to see if it manages to hold it....
checking usdchf , yes some breakout there but usdjpy continuing bear & it also may continue bear though at the very bottom chf.

so usdjpy may not ready yet though chf ok , usdx not know if reach 77.62 at least for a good retracement though not enough for the change .usdx breaking 77.61 without resistance ?? though a medium support , still few pips up & down now a fashion. need to wait & see more .
lets see .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #301,467
  • Oct 6, 2010 2:05am Oct 6, 2010 2:05am
Oh baby deep inside the touch will not satisfy me..............
  • #301,468
  • Oct 6, 2010 2:05am Oct 6, 2010 2:05am
Quoting DMA Trader
totally agree.

did you see my post about USD/CHF
what do you think ?

thanks

http://www.forexfactory.com/showthre...12#post4075512
Nice analysis and keeping an open mind
  • #301,469
  • Oct 6, 2010 2:06am Oct 6, 2010 2:06am
Doing some both direction scalping in 1.3836-1.3856 region.
So far 4 ups and 3 downs with 15-20 PIPs scored (already daily minimum quota of 120 PIPs reached)
Both ends hedged in case of extreme movement as 'disaster control' (at cost of losing some PIPs of course, but caution is foremost trader's rule).
As rule, losing daily catch of 100 PIPs to create safety zone is common sense.
I have no firm idea how long will market sustain up trend, so I limit exposure to one massive floating lot (long from 1.3795) with SL to make at least some PIPs in case of drop (purely of sportive interest).
Daily trading is my fav as always.
  • #301,470
  • Oct 6, 2010 2:07am Oct 6, 2010 2:07am
Quoting bbakker
Nice analysis and keeping an open mind
thanks
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #301,471
  • Oct 6, 2010 2:12am Oct 6, 2010 2:12am
Quoting Creator
Both ends hedged in case of extreme movement as 'disaster control'
Pardon me, but I dont understand this, both ends?
Look Sharp/Trade Tight
  • #301,472
  • Oct 6, 2010 2:20am Oct 6, 2010 2:20am
Anyone else getting smashed holding short? 3920 possible toppy R level?
  • #301,473
  • Oct 6, 2010 2:28am Oct 6, 2010 2:28am
Weekly: This is what I've got.. continuation of this upmove till around the end of the year which it'll hit some nice resistance.

I'm still learning but does this make sense?
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  • #301,474
  • Oct 6, 2010 2:29am Oct 6, 2010 2:29am
i posted this too late.. but gbp.. was good for a short at 2930 for about 90/100 pips.
those who can, do. those who cant, talk about those who can
  • #301,475
  • Oct 6, 2010 2:33am Oct 6, 2010 2:33am
Quoting DMA Trader
About my USD/CHF long call.

I usually don't post charts because i have a lot of adnotation and it will mean nothing to a lot of people but mean a lot to me. it will also took me a lot of time that i really need to use in trading.

But since i do appreciate when people post charts and market is not so volatile right now. I am going to post one and it's really a very simple and naked chart.

I like taking position going long term since I am also a value investor.
So it's not like i am going to commit all my capital in this trade but I...
Hi! I'm new here
Just to let u know I find ur theory abt USDCHF impressive. Tks. ^_^
  • #301,476
  • Oct 6, 2010 2:41am Oct 6, 2010 2:41am
These Japanese p...y lose theirs balls to intervene for the yen ....

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  • #301,477
  • Oct 6, 2010 2:43am Oct 6, 2010 2:43am
tough to get long up here, but that might be the way to go
Look Sharp/Trade Tight
  • #301,478
  • Oct 6, 2010 2:48am Oct 6, 2010 2:48am
Quoting PayTheLimit
tough to get long up here, but that might be the way to go
Coinflip right now.....bulls seem to have lost their mojo, failing currently despite their best attempts. Bear scenario is not a done deal either, though....
  • #301,479
  • Oct 6, 2010 2:48am Oct 6, 2010 2:48am
Quoting EuroTrader
These Japanese p...y lose theirs balls to intervene for the yen ....

Attachment
The BoJ did just spend $419 billion yesterday!
http://www.marketwatch.com/story/jap...ses-2010-10-05
  • #301,480
  • Oct 6, 2010 2:51am Oct 6, 2010 2:51am
Quoting EuroTrader
These Japanese p...y lose theirs balls to intervene for the yen ....

Attachment
they might get in below 80

i told you last time. intervention doesn't work in forex.

look to EUR/CHF chart. how many people to you think died from 1.6 to 1.28 waiting for SNB.

look over different sites. of forex sentiment.

take this example

6% of the @Currensee community volume is trading the USDJPY with sentiment 20% SHORT

just an advice. intervention will come. maybe today maybe next week maybe next year. but it hasn't do anything

politicians can't stop Speculators.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
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