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Price is everything

  • #12,621
  • Mar 15, 2011 11:26pm Mar 15, 2011 11:26pm
Quoting tjfxtrader
But you said the markets are not random. If that is the case, then why do you use a stop loss? Hmmmm

rhetorical
To simplify my method, I personally try not to use actual stop loss anymore...
I'm out when it's not going my way, all within limit
  • #12,622
  • Mar 15, 2011 11:30pm Mar 15, 2011 11:30pm
Quoting anthoniex
To simplify my method, I personally try not to use actual stop loss anymore...
I'm out when it's not going my way, all within limit

Where I live we often loose power. Stops are put on quickly. Then targets. Once in a while my targets are getting hit before I get the stops all set...A bonus.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #12,623
  • Mar 15, 2011 11:39pm Mar 15, 2011 11:39pm
Quoting Rufus
Where I live we often loose power. Stops are put on quickly. Then targets. Once in a while my targets are getting hit before I get the stops all set...A bonus.
That's one thing that makes me nervous, if that happens to me then I'm fcuked!...
  • #12,624
  • Mar 16, 2011 1:25am Mar 16, 2011 1:25am
Morning traders.eu still bullish as long trendline hold...
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Gold Expedition Return This Year: -16.6%
  • #12,625
  • Mar 16, 2011 1:30am Mar 16, 2011 1:30am
Looking for a break
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  • #12,626
  • Mar 16, 2011 1:54am Mar 16, 2011 1:54am
Quoting budak baru
Morning traders.eu still bullish as long trendline hold...
Then why r u selling ?? Scalp ???
  • #12,627
  • Mar 16, 2011 2:05am Mar 16, 2011 2:05am
We can only assume it has to retest trendline? That and its at some supply. Seems low risk.
  • #12,628
  • Mar 16, 2011 2:19am Mar 16, 2011 2:19am
Quoting honeybhi
Then why r u selling ?? Scalp ???
Hi hb.short for scalp just now.and short again 1.4 round number.also got cluster there.
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Gold Expedition Return This Year: -16.6%
  • #12,629
  • Mar 16, 2011 2:21am Mar 16, 2011 2:21am
Quoting tjfxtrader
But you said the markets are not random. If that is the case, then why do you use a stop loss? Hmmmm

rhetorical


lets say prices arrive @ a demand level but there is also another demand level 40 points lower - wether the first demand zone is respected or it blows the first demand zone only to drop to the lower zone is NOTHING TO DO WITH RANDOMNESS whatsoever ............... hence stops are still a part of my trading plan. I don't always use them as you have seen from my entries, often l state manual stops etc


so your question is a little off - relating randomness to stops
  • #12,630
  • Mar 16, 2011 2:25am Mar 16, 2011 2:25am
Quoting budak baru
Hi hb.short for scalp just now.and short again 1.4 round number.also got cluster there.
Hope it goes well.I'm looking at 1.39.
  • #12,631
  • Mar 16, 2011 2:26am Mar 16, 2011 2:26am
Daily and 4hr.

Waiting for the 4hr cluster to resolve.
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  • #12,632
  • Mar 16, 2011 2:29am Mar 16, 2011 2:29am
Quoting honeybhi
Hope it goes well.I'm looking at 1.39.
3965 is my first target.why u choose 1.39.any reason hb?
Gold Expedition Return This Year: -16.6%
  • #12,633
  • Mar 16, 2011 2:40am Mar 16, 2011 2:40am
Quoting budak baru
3965 is my first target.why u choose 1.39.any reason hb?
4hr
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  • #12,634
  • Mar 16, 2011 2:50am Mar 16, 2011 2:50am
Quoting budak baru
3965 is my first target.why u choose 1.39.any reason hb?
3965 hit.if 3965 break will turn to resistance.support become resistance...
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Gold Expedition Return This Year: -16.6%
  • #12,635
  • Mar 16, 2011 2:54am Mar 16, 2011 2:54am
Short EU at 1.3961. Super late. But I just got home from work.......

Thats a valid excuse right?



ahem, and 1.3969. Bears got big on 1m
  • #12,636
  • Mar 16, 2011 3:07am Mar 16, 2011 3:07am
Bought EU
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  • #12,637
  • Mar 16, 2011 3:13am Mar 16, 2011 3:13am
Quoting HoyPip
Short EU at 1.3961. Super late. But I just got home from work.......

Thats a valid excuse right?



ahem, and 1.3969. Bears got big on 1m
No, your short right at demand level...
  • #12,638
  • Mar 16, 2011 3:17am Mar 16, 2011 3:17am
Demand and Supply
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  • #12,639
  • Edited 3:20am Mar 16, 2011 3:20am | Edited 3:20am
Does it make it better that I realized my mistake first? .........SECOND
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  • #12,640
  • Mar 16, 2011 4:07am Mar 16, 2011 4:07am
Quoting Decimal
Demand and Supply
Last 15m candle closed bear engulfing on cadjpy and bull engulfing on loonie, so given this and we are at demand for loonie and supply for cadjpy I have gone long loonie at 0.98196 with sl at 0.9895.
If we get a move north TG1 will be 0.9870.
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