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Ken's Continuing Successes with EO's system

  • #2,741
  • Nov 15, 2010 10:49am Nov 15, 2010 10:49am
I use Oanda as well, and I take partial profit in the same manner Ken mentioned above. It is extremely useful.
  • #2,742
  • Nov 15, 2010 10:54am Nov 15, 2010 10:54am
Quoting Kenneth Lee
yes just click buy or sell adjust your order size and enter . It will come up with a warning that you are about to adjust your position .

JPG
Attached Image (click to enlarge)
Click to Enlarge Name: oanda trade manage.JPG Size: 141 KB
Good Trading To All ; Ken Lee
  • #2,743
  • Nov 15, 2010 10:55am Nov 15, 2010 10:55am
Quoting dr mongolia
I use Oanda as well, and I take partial profit in the same manner Ken mentioned above. It is extremely useful.
Also in case it wasn't clear, to take some profit off you click on sell if you're long and buy if you're short. Then just enter in half the units. Or a quarter, etc.
  • #2,744
  • Nov 15, 2010 10:58am Nov 15, 2010 10:58am
Quoting dr mongolia
Also in case it wasn't clear, to take some profit off you click on sell if you're long and buy if you're short. Then just enter in half the units. Or a quarter, etc.

Yes you can also close trades the same way . You don't have to click on the open position window. Helps if you have limited screen room. You can minimize all that other stuff.
Good Trading To All ; Ken Lee
  • #2,745
  • Nov 15, 2010 11:00am Nov 15, 2010 11:00am
Guys, thanks for the help here but I fear i'm being spectacularly dim.

If I enter a sell to halve a buy, aren't I just hedging half the position and thus paying a second spread?

I think Ken is suggesting somethng different but that to me seems like adding another half a position to the order.

I think i'm having a blond moment (and i'm a dark haired fella!)
  • #2,746
  • Nov 15, 2010 11:03am Nov 15, 2010 11:03am
Quoting Trotty
Guys, thanks for the help here but I fear i'm being spectacularly dim.

If I enter a sell to halve a buy, aren't I just hedging half the position and thus paying a second spread?

I think Ken is suggesting somethng different but that to me seems like adding another half a position to the order.

I think i'm having a blond moment (and i'm a dark haired fella!)
No; thats what you would think would happen, but since Oanda doesn't allow hedging they will actually close the portion of your position that you try to hedge. Try it out with 2 units as a risk free way of getting a feel for it.
  • #2,747
  • Nov 15, 2010 11:05am Nov 15, 2010 11:05am
Quoting dr mongolia
No; thats what you would think would happen, but since Oanda doesn't allow hedging they will actually close the portion of your position that you try to hedge. Try it out with 2 units as a risk free way of getting a feel for it.
Ahhhhhhhhh.....

That clink you heard was the penny dropping.

Can't believe I never knew that. that's brilliant news, cheers for the help
  • #2,748
  • Nov 15, 2010 3:21pm Nov 15, 2010 3:21pm
Speaking of Oanda, we got a clear reversal on G/J brewing but it's showing a 7 pip spread
  • #2,749
  • Nov 15, 2010 3:55pm Nov 15, 2010 3:55pm
took all day to bounce 113 on e/j
Good Trading To All ; Ken Lee
  • #2,750
  • Nov 15, 2010 4:08pm Nov 15, 2010 4:08pm
Yeah kind of a slow day. I got a good AUD/USD short but that's been the only thing that went over 20 pips for me. It looks like we've got a bunch of news coming out tomorrow so Asia might be slow as well.
  • #2,751
  • Nov 15, 2010 7:29pm Nov 15, 2010 7:29pm
If anyone is trading Asia it looks like A/U and E/J are ready to short
  • #2,752
  • Nov 15, 2010 7:31pm Nov 15, 2010 7:31pm
I've been short on EJ for sometime due to my other strategy that I trade so I'm restricted to EU and GU for tonight.

Didn't get much trading done today, I always tell myself never agree to help someone move, but I always do lol.
  • #2,753
  • Nov 15, 2010 7:39pm Nov 15, 2010 7:39pm
Quoting ReaperKK
I've been short on EJ for sometime due to my other strategy that I trade so I'm restricted to EU and GU for tonight.

Didn't get much trading done today, I always tell myself never agree to help someone move, but I always do lol.
Oh, I hear you. Somehow, people always neglect to mention about 20 huge items when they say they need help moving "a few things". You pretty much have to take the amount of time they estimate and multiply it by 2.5-3 to get an accurate estimate.
  • #2,754
  • Nov 15, 2010 7:41pm Nov 15, 2010 7:41pm
Speaking of G/U I've been waiting for 1.6000 to go long, but it's taking it's sweet time so I've also been looking for a short entry down to that level. I want to get A/U and E/J covered first though.
  • #2,755
  • Nov 15, 2010 8:33pm Nov 15, 2010 8:33pm
Well.. This has got to be the slowest moving Asian session in recent memory, LOL. I hope you're having better luck then me, all my trades are piddling around BE.
  • #2,756
  • Nov 15, 2010 8:35pm Nov 15, 2010 8:35pm
No not much, it is awfully slow.

I'm going to give it another hour or so and hit the bed and wake up early tomorrow if I don't see any movement.

I haven't pulled the trigger on any trades.
  • #2,757
  • Nov 16, 2010 6:40am Nov 16, 2010 6:40am
And another big struggle as evidenced during the Asian session is learning when not to trade ! ! !
Consistency separates luck from Skill
  • #2,758
  • Nov 16, 2010 7:19am Nov 16, 2010 7:19am
some e/j charts , Observations. Trust the charts they are what we trade.
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Good Trading To All ; Ken Lee
  • #2,759
  • Nov 16, 2010 7:35am Nov 16, 2010 7:35am
I Know a lot of people don't have the time to trade full time . What we have to learn is to find the areas of best confluence and start using P.O.'s ( Pending Orders) Do this by just making marks or demo to begin. But picking areas off the higher time charts then zoom into the 15 min or hrly chart for the best entries should work well. You may have to adjust your risk to allow for a bit of wiggle room . Depedent on what your TP is you can either go for quick quarnteed trades or just the best entry for a long term trade.

But don't let the fact you aren't here 24 hrs a day stop you. The price will react to PPA and Fib levels weither your here or not.
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Good Trading To All ; Ken Lee
  • #2,760
  • Nov 16, 2010 10:11am Nov 16, 2010 10:11am
A/U is speeding towards the daily 50 at 0.9715; We also have September's high right there at 0.9734. I don't think it's going to get through this area on the first try; most likely it'll have to bounce up to 0.9816-0.9826
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