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Price is everything

  • #7,561
  • Feb 2, 2011 11:44am Feb 2, 2011 11:44am
Quoting Orbital
I see, i hope you're not bothered by me asking so many questions, my desire to learn is simply speaking quite high. I enjoy scalping a lot, 10-20 scalps times 3 pips is still 60 pips per day to me.

But sometimes i wish i had better skills at entering longterm positions, i mean i had 2 great trades with eurusd and gbpusd netting me a nice sum. But you have those excellent trades that usually go for quite a bit, so thats why im asking

Think im finished for the day. Looking at charts and finishing up marking my levels for the day.



if l am reading this right - possible tg for eu CAN BE 1.38380 ..........
  • #7,562
  • Feb 2, 2011 12:05pm Feb 2, 2011 12:05pm
Quoting redsword11
bought eu @ 1.37781

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  • #7,563
  • Feb 2, 2011 12:13pm Feb 2, 2011 12:13pm
Quoting stewrigh
DO,

You might wanna read this before you go long.

http://www.forexfactory.com/showpost...&postcount=463
interesting. thanks stewrigh
  • #7,564
  • Feb 2, 2011 12:14pm Feb 2, 2011 12:14pm
Quoting redsword11
Attachment
you got a small army here RED. its hard to keep up. EU still capped.
  • #7,565
  • Feb 2, 2011 12:15pm Feb 2, 2011 12:15pm
Quoting redsword11
sold usddkk

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closed some
  • #7,566
  • Feb 2, 2011 12:19pm Feb 2, 2011 12:19pm
Quoting Dropped Onion
you got a small army here RED. its hard to keep up. EU still capped.



we grew it together D.O


eh ...... eu l have closed most so its free trade, can go where it wants
  • #7,567
  • Feb 2, 2011 12:21pm Feb 2, 2011 12:21pm
added to cable north
  • #7,568
  • Feb 2, 2011 12:23pm Feb 2, 2011 12:23pm
RED. probably already posted. i know a few were watching 4H demand on swissy for possible longs. look at this pin on 15M at short term support and longer term demand. peach...

excellent r : r on this one.
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  • #7,569
  • Feb 2, 2011 12:28pm Feb 2, 2011 12:28pm
Quoting Dropped Onion
RED. probably already posted. i know a few were watching 4H demand on swissy for possible longs. look at this pin on 15M at short term support and longer term demand. peach...

excellent r : r on this one.

yes, l had it in my sights, posted the zone in earlier too - had so much open, just couldn't take it
  • #7,570
  • Feb 2, 2011 12:28pm Feb 2, 2011 12:28pm
Quoting redsword11
added to cable north
still in cable. last line of defense is that R turned S area. if that goes i am pulling longs.
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  • #7,571
  • Feb 2, 2011 12:29pm Feb 2, 2011 12:29pm
Quoting redsword11
yes, l had it in my sights, posted the zone in earlier too - had so much open, just couldn't take it
i never have that problem. my attention span is 2 short. never can run more than a few positions at once
  • #7,572
  • Feb 2, 2011 12:36pm Feb 2, 2011 12:36pm
Quoting Decimal
.......and out.

+2% based on sl of 10pips

This is the first trade I have done with no ma's, no pivots, no stochs.
Just a clean chart. Its a great feeling.
nice trade Decimal.

word of caution when using really tight stops in order to get extra leverage. i use tight stops but usually around 15 pips or more. 15pips is a 50% bigger stop than a 10pip one. over time this plays out.

its no prob, if you have a good R:R as you did in this trade. also, partial closes at predetermined levels can be a good way of offsetting risks, while also letting profits run....

just my 2c.

GLGT
  • #7,573
  • Feb 2, 2011 12:40pm Feb 2, 2011 12:40pm
Quoting redsword11
added to cable north

stopped
  • #7,574
  • Feb 2, 2011 12:43pm Feb 2, 2011 12:43pm
Quoting Dropped Onion
nice trade Decimal.

word of caution when using really tight stops in order to get extra leverage. i use tight stops but usually around 15 pips or more. 15pips is a 50% bigger stop than a 10pip one. over time this plays out.

its no prob, if you have a good R:R as you did in this trade. also, partial closes at predetermined levels can be a good way of offsetting risks, while also letting profits run....

just my 2c.

GLGT


Thanks for the feedback its appreciated. Red discussed sl levels last week and the idea of getting the risk off the table by closing two thirds of the trade. I want to adopt that and build that into my strategy as it makes sense.

I am nervous, so unless I get a bit of momentum at the beginning, I usually am tempted to bail out at BE or loose 10 pips and move on Its just bad habits I need to shed off. I take the point of 15 is 50% bigger and relatively is not a bank breaker.

Cheers.
  • #7,575
  • Feb 2, 2011 12:55pm Feb 2, 2011 12:55pm
Quoting Dropped Onion
treat the market as a friend and not a foe (albeit a somewhat dangerous friend) ...and so no need to be nervous
mess with it and it will take all you have. respect it and it will give you all you want. - if only it were that simple, but the premise is right
  • #7,576
  • Feb 2, 2011 1:07pm Feb 2, 2011 1:07pm
Quoting Dropped Onion
still in cable. last line of defense is that R turned S area. if that goes i am pulling longs.
closing all here.
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  • #7,577
  • Feb 2, 2011 1:12pm Feb 2, 2011 1:12pm
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awaiting further PA cable for buy
  • #7,578
  • Feb 2, 2011 1:13pm Feb 2, 2011 1:13pm
Any thoughts on EUR/CHF? Small short position stops above today's high. If price stays here too long, I think it might try for the 1.304 area.
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  • #7,579
  • Feb 2, 2011 1:17pm Feb 2, 2011 1:17pm
added eu long @ 1.37793
  • #7,580
  • Feb 2, 2011 1:26pm Feb 2, 2011 1:26pm
Quoting redsword11


awaiting further PA cable for buy
This is what im look at for the gbp/usd. Think i missed the opportunity though =/
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