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  • #341
  • Jul 4, 2011 3:13am Jul 4, 2011 3:13am
got my stop at 24 level on cable,very slow
  • #342
  • Jul 4, 2011 5:43am Jul 4, 2011 5:43am
Quoting cash_machine
Hi Srmfx,

glad you are back. I noted that you usually close first part of the position when you get 6-7 pips into profit. Why you close it so early? Is it just to make sure you reduce possible loss? Why you don't close whole position then?
It's a long story but I'll try to make it short. I close the 1st part for 5-6 pips profit to cover any potential loss from the 3rd part. The 2nd part is usually closed for 10-15 pips profit. The purpose of the last part is to catch a bigger price move with minimum costs which are usually covered by the 1st and 2nd parts.
  • #343
  • Jul 4, 2011 5:50am Jul 4, 2011 5:50am
Quoting diceman555
welcome back smrfx,hope u enjoyed your vacation,went short at 34 level on cable.although things are a bit irregular this morning
reards
william
Cable is not good for trading for weeks. I suppose this will not change until BoE signals the first rate hike.
  • #344
  • Jul 4, 2011 5:57am Jul 4, 2011 5:57am
yes see what your saying but i find it more readable whilst it drifts from point to point,had over 50 pips this morning .

regards
william
  • #345
  • Jul 5, 2011 2:42am Jul 5, 2011 2:42am
Choppy market this morning. EURUSD lagged behind FTSE and this created buying opportunity near the previous low. 1st part at +5p, 2nd at +9p, last part with -5p stop.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.png Size: 31 KB
  • #346
  • Jul 5, 2011 2:46am Jul 5, 2011 2:46am
If EURUSD breaks above 85 I'll move the stop to +1.
  • #347
  • Jul 5, 2011 2:47am Jul 5, 2011 2:47am
Stop moved at +2p.
  • #348
  • Jul 5, 2011 3:14am Jul 5, 2011 3:14am
Stop moved at +7p.
Attached Image
  • #349
  • Jul 5, 2011 3:33am Jul 5, 2011 3:33am
Hi Srmfx,

how often you are successful in catching big ride? Isn't it is better to close whole position say at 10-15 pips when you closing second part?
  • #350
  • Jul 5, 2011 3:38am Jul 5, 2011 3:38am
Quoting cash_machine
Hi Srmfx,

how often you are successful in catching big ride? Isn't it is better to close whole position say at 10-15 pips when you closing second part?
It depends on the market. If it is trending big moves are seen more often. The market is choppy for the last few weeks. The best position management strategy is to divide it in 3 parts and close them separately.
  • #351
  • Jul 5, 2011 3:39am Jul 5, 2011 3:39am
Quoting srmfx
Stop moved at +2p.
When do you usually move your stops higher?
  • #352
  • Jul 5, 2011 3:46am Jul 5, 2011 3:46am
Quoting cash_machine
When do you usually move your stops higher?
When I'm long I move the stop below swing low when a swing high is broken. The opposite is valid for short positions.
  • #353
  • Jul 5, 2011 3:51am Jul 5, 2011 3:51am
Quoting srmfx
When I'm long I move the stop below swing low when a swing high is broken. The opposite is valid for short positions.
At the time when you moved your stop at +2 pips there was no swing low, only up, up, up. So you used other principle today to move stop?
  • #354
  • Jul 5, 2011 4:03am Jul 5, 2011 4:03am
Quoting cash_machine
At the time when you moved your stop at +2 pips there was no swing low, only up, up, up. So you used other principle today to move stop?
It's the same principle.
Attached Image
  • #355
  • Jul 5, 2011 4:09am Jul 5, 2011 4:09am
Quoting srmfx
It's the same principle.
This was second time when you moved stop. First time you moved stop in the post #347, and it was before 11:47. The picture that you showed is 20 minutes later. I am asking why you moved stop first time (in post 347).
  • #356
  • Jul 5, 2011 4:18am Jul 5, 2011 4:18am
Quoting cash_machine
This was second time when you moved stop. First time you moved stop in the post #347, and it was before 11:47. The picture that you showed is 20 minutes later. I am asking why you moved stop first time (in post 347).
The first time I moved the stop when the high from 10:03 (7:03 GMT) was broken below the low of 10:36.
  • #357
  • Jul 5, 2011 4:23am Jul 5, 2011 4:23am
Do you pay any special attention to the spread? When I started to trade today (2 hours ago) spread of E/U was 1.9 pips; now it is 0.9 pips. What do you think about it?
  • #358
  • Jul 5, 2011 4:26am Jul 5, 2011 4:26am
Quoting cash_machine
Do you pay any special attention to the spread? When I started to trade today (2 hours ago) spread of E/U was 1.9 pips; now it is 0.9 pips. What do you think about it?
The spread depends on the liquidity. If it is below 1.5 pips I don't take it into account.
  • #359
  • Jul 5, 2011 4:27am Jul 5, 2011 4:27am
The stop was hit.
  • #360
  • Jul 5, 2011 4:30am Jul 5, 2011 4:30am
Quoting srmfx
The spread depends on the liquidity. If it is below 1.5 pips I don't take it into account.
Do you trade if spread is more than 1.5 pips?
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