Today is only 61 pips scalping, the lowest in the week. 
- #360,786
- Jan 7, 2011 9:50am Jan 7, 2011 9:50am
- | Joined Apr 2010 | Status: Trader | 1,488 Posts
Unless we have a big rally, fibre tends to move in 20pip segments, 40 up, 20 down, 20 up, 40 down, 20 up, 20 down, 40 up, etc. It prefers double moves with a single retrace. When she is ranging you will get a lot of 40 pips move in one direction, followed by a 20 pip retrace and then a 20 pip fake. Just a matter of finding the edges of the range and then you can find the 40 pippers, buying mid range, as we are now will only get you stuck in the 20 pippers with lots of fake outs.
My play for the day has been to buy the rejections of the lows, am...
- #360,787
- Jan 7, 2011 9:51am Jan 7, 2011 9:51am
- | Membership Revoked | Joined May 2010 | 1,979 Posts
I am closing the day and the week.
At this moment I have one lot long at an average price of 1.2963 with a TP @ 1.3074 and I'm leaving this position into the market till next week.
Profits marked this week = +129 pips
See you all on Monday!
This week I now have over 600 pips
- #360,788
- Jan 7, 2011 9:52am Jan 7, 2011 9:52am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
go through that feeling with a 20 lotter and you are cured 
That is so goddamn true, pure wisdom!
- #360,789
- Jan 7, 2011 9:53am Jan 7, 2011 9:53am
- | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
This week I now have over 600 pips
The guy is happy he made 129, he is leaving, then you give him a thumbs up and say you made 4 times as many.
Really?
- #360,790
- Jan 7, 2011 9:53am Jan 7, 2011 9:53am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
And further wisdom is shared for free here. Already stored for further use. Thanks again Cloggie, you know you don´t have to do this -
Look at what is happening right now, we had the 40 pip run of the low (I bought it and posted it here then locked in my 40) followed by a 20 pip retrace, and we are now monkeying mid stream with another 20 pip move up, could this turn into a 40 pipper? Not likely as there is no solid floor underneath it so I am ignoring this one, letting a bottom form so I can shoot for the next 40 pipper again. These are the only setups available here as there was no rejection on the NFP. We need another impetus to give us a larger trade.
We are setting up for a major retrace on the downmove today and may well get that on Mon-Tue next week.
- #360,791
- Jan 7, 2011 9:54am Jan 7, 2011 9:54am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #360,792
- Jan 7, 2011 9:54am Jan 7, 2011 9:54am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
A pip is only worth it if you know how much you risked to earn it
- #360,793
- Jan 7, 2011 9:55am Jan 7, 2011 9:55am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #360,794
- Jan 7, 2011 9:55am Jan 7, 2011 9:55am
- | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
