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Trade What You See - Almost Naked Trading

  • #8,141
  • Jan 2, 2011 6:30pm Jan 2, 2011 6:30pm
Quoting mansoul
isn't that to tight, i mean SL will always hit with -10 pips.

read somewhere here SL need some breathing room..no?
I believe it is too tight. Keep that SL, but leave your TP open and watch PA for awhile, unless you need to leave the computer.
  • #8,142
  • Jan 2, 2011 6:43pm Jan 2, 2011 6:43pm
Quoting lawgirl21
I believe it is too tight. Keep that SL, but leave your TP open and watch PA for awhile, unless you need to leave the computer.
what I ment is you dont risk 50 to make 25 you risk 25 to make 50 profit target is 2 stop loss is 1
  • #8,143
  • Jan 2, 2011 6:47pm Jan 2, 2011 6:47pm
Quoting Fitness09
I think they mean the ratio is backwards. Like if your SL was 50 pips, your TP would be 100 pips.
exactly
  • #8,144
  • Jan 2, 2011 6:55pm Jan 2, 2011 6:55pm
Quoting GerryS
exactly
ok, thxs i never considered have large TP , always got smaller TP compare to SL..
  • #8,145
  • Edited 7:03pm Jan 2, 2011 6:59pm | Edited 7:03pm
Quoting mansoul
ok, thxs i never considered have large TP , always got smaller TP compare to SL..
then if your trades are 50% you will loose twice as much as you make..
  • #8,146
  • Jan 2, 2011 7:09pm Jan 2, 2011 7:09pm
Quoting GerryS
then if your trades are 50% you will loose twice as much as you make..
right... will try with larger ratio then and smaller lots sounds good ty !
  • #8,147
  • Jan 2, 2011 7:26pm Jan 2, 2011 7:26pm
E/U is killing me. Must make a turn around !!
  • #8,148
  • Jan 2, 2011 7:29pm Jan 2, 2011 7:29pm
Quoting GerryS
then if your trades are 50% you will loose twice as much as you make..
Yep, that's how I lost almost half my account at one point. Reducing your lot size to risk only 2-3% of your account on each trade allows for better risk reward ratio.. Learned that the hard way...
  • #8,149
  • Jan 2, 2011 7:29pm Jan 2, 2011 7:29pm
It's still about 30 min. early for me, but there look to be some very nice set ups forming. I am really surprised at the market activity going on now.
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  • #8,150
  • Jan 2, 2011 7:30pm Jan 2, 2011 7:30pm
Quoting Fitness09
E/U is killing me. Must make a turn around !!
You should be out of it by now and looking to go short.
  • #8,151
  • Jan 2, 2011 7:31pm Jan 2, 2011 7:31pm
Quoting Fitness09
E/U is killing me. Must make a turn around !!
amazing LG out with +16pips in this pairs, how come?
"Trade Until I Come Back" Luke
  • #8,152
  • Jan 2, 2011 7:34pm Jan 2, 2011 7:34pm
Quoting lawgirl21
You should be out of it by now and looking to go short.
Nothing is telling us that this pair will turn around now. All indicators and PA is against a long trade at this point.
  • #8,153
  • Jan 2, 2011 7:37pm Jan 2, 2011 7:37pm
Quoting superpipo
amazing LG out with +16pips in this pairs, how come?
Yes, looks like you got out of both NZDUSD and EURUSD right before they turned around. Were you following the M15 PA to look for reversal? I'm trying to get this gap trading right, but seems to be very elusive... Master, please teach your apprentices...
  • #8,154
  • Jan 2, 2011 7:39pm Jan 2, 2011 7:39pm
Quoting superpipo
amazing LG out with +16pips in this pairs, how come?
The gap filled for me. Then PA headed down along with the indicators. I thought PA would continue long....it didn't, but that's ok, because I was prepared for either direction.

We simply cannot "care" in which direction PA goes. We must be prepared to be surprised and to go with it.
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  • #8,155
  • Jan 2, 2011 7:48pm Jan 2, 2011 7:48pm
Quoting lawgirl21
The gap filled for me. Then PA headed down along with the indicators. I thought PA would continue long....it didn't, but that's ok, because I was prepared for either direction.

We simply cannot "care" in which direction PA goes. We must be prepared to be surprised and to go with it.
For whatever the reason the gap did not fill on my chart some times brokers charts turn out different
  • #8,156
  • Jan 2, 2011 7:49pm Jan 2, 2011 7:49pm
Quoting pippete
Yes, looks like you got out of both NZDUSD and EURUSD right before they turned around. Were you following the M15 PA to look for reversal? I'm trying to get this gap trading right, but seems to be very elusive... Master, please teach your apprentices...
There are no tricks except don't expect too much from a gap trade. It is counter intuitive and counter trend. We need to get in and out as soon as possible. Sometimes they fill quickly and sometimes they take time, but if PA is continuing in our direction, we generally don't worry about how long it takes.

Today was a little different. The gaps filled in about an hour then PA did an about face on these pairs. They may still fill, but it is not worth being down 50 or more pips for a gap trade of 15- 30 pips.

PA is always correct.
  • #8,157
  • Jan 2, 2011 7:50pm Jan 2, 2011 7:50pm
Quoting Fitness09
E/U is killing me. Must make a turn around !!

Please keep an eye on the RSIs. All in the red right now.
  • #8,158
  • Jan 2, 2011 7:52pm Jan 2, 2011 7:52pm
Quoting lawgirl21
Nothing is telling us that this pair will turn around now. All indicators and PA is against a long trade at this point.
My SL activated.
  • #8,159
  • Jan 2, 2011 7:54pm Jan 2, 2011 7:54pm
Quoting GerryS
For whatever the reason the gap did not fill on my chart some times brokers charts turn out different
I just eyeball the gaps. I don't go by precise numbers and I hope you guys don't either. If it looks close I generally go for it. If a gap doesn't fill and PA is going against you...cut your lossses and move on. It is early in the week and there are lots of pips coming our way.
  • #8,160
  • Jan 2, 2011 7:55pm Jan 2, 2011 7:55pm
Quoting Fitness09
My SL activated.
How many pips did you lose?
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