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Easy no stress daily charts:)

  • #441
  • Aug 9, 2011 3:36pm Aug 9, 2011 3:36pm
Quoting Slurpee
USDCHF at +1200 pips... I moved my SL to +800
I have never seen anyone do this on a single position. Scale in with a bunch of positions, maybe.

Just fantastic, Slurpee.

Thanks for showing us what can be. I would have made a panic exit long ago. Wrongly.

Forest
  • #442
  • Aug 9, 2011 3:46pm Aug 9, 2011 3:46pm
Slurpee and Olu --

Where did we get the 170 as a SL?

I ask since the ADR of different pairs might argue for varying levels on the SLs.

For instance, EURGBP might require a much smaller SL than GBPCHF. Just an example where the range is quite different.

Thanks, Forest
  • #443
  • Aug 9, 2011 4:03pm Aug 9, 2011 4:03pm
Quoting Forest-Sea
I have never seen anyone do this on a single position. Scale in with a bunch of positions, maybe.

Just fantastic, Slurpee.

Thanks for showing us what can be. I would have made a panic exit long ago. Wrongly.

Forest

Thanks, buddy!

As I say in my first post, I have learned over time that without sticking to your rules, are nothing in the long run. Should I have closed the trade too early, I would be in problems with recent loss in GU. With letting the profit run in this trade, that loss is nothing to my capital... The psychology is the most important thing in this game, that is for sure...
Live it or leave it!
  • #444
  • Aug 9, 2011 4:05pm Aug 9, 2011 4:05pm
Quoting Forest-Sea
Slurpee and Olu --

Where did we get the 170 as a SL?

I ask since the ADR of different pairs might argue for varying levels on the SLs.

For instance, EURGBP might require a much smaller SL than GBPCHF. Just an example where the range is quite different.

Thanks, Forest
For me, it is from backtesting the pairs... As you say, in EURGBP I will use smaller SL and TP (on the first trade)...
Live it or leave it!
  • #445
  • Aug 9, 2011 4:05pm Aug 9, 2011 4:05pm
I'm buying EUR-GBP. Let's see...
  • #446
  • Aug 9, 2011 4:09pm Aug 9, 2011 4:09pm
Quoting Slurpee
Thanks, buddy!

As I say in my first post, I have learned over time that without sticking to your rules, are nothing in the long run. Should I have closed the trade too early, I would be in problems with recent loss in GU. With letting the profit run in this trade, that loss is nothing to my capital... The psychology is the most important thing in this game, that is for sure...



Good job Slurpee !

Ride the winners and cut the losers real quick.



golfer
  • #447
  • Aug 9, 2011 4:27pm Aug 9, 2011 4:27pm
I just went long in EG...

SL 120, TP 120, TS 70 = 1st half
SL 120, TP = run, baby run!, TS 70 = 2nd half
Live it or leave it!
  • #448
  • Aug 9, 2011 4:29pm Aug 9, 2011 4:29pm
Quoting golferfx
Good job Slurpee !

Ride the winners and cut the losers real quick.



golfer

Thanks, Golfer!
Live it or leave it!
  • #449
  • Aug 9, 2011 4:34pm Aug 9, 2011 4:34pm
...and the EU is almost reaching the TS at +100 (right now only 11 pips away), but I have to go to bed. So I just moved my SL to BE+5

a freeeeeeee rideeee
Attached Image (click to enlarge)
Click to Enlarge Name: new trade and EU.png Size: 194 KB
Live it or leave it!
  • #450
  • Aug 9, 2011 6:20pm Aug 9, 2011 6:20pm
Quoting Alush
Looks like the NZDUSD may be a good opportunity as it may be a pin bar as well....
Yes it is a pinbar and is looking like a good opportunity to go long according to the system. However as the pinbar as a whole is huge I want to buy on a retracement

Olu
If you think you can or cannot do it you are correct
  • #451
  • Aug 9, 2011 10:00pm Aug 9, 2011 10:00pm
Slurpee:

Do you always use Trailing Stop?

-FX_California

Quoting Slurpee
I just went long in EG...

SL 120, TP 120, TS 70 = 1st half
SL 120, TP = run, baby run!, TS 70 = 2nd half
  • #452
  • Aug 10, 2011 12:20am Aug 10, 2011 12:20am
Quoting Olu
Yes it is a pinbar and is looking like a good opportunity to go long according to the system. However as the pinbar as a whole is huge I want to buy on a retracement

Olu

true true... I am considering getting in as well
Live it or leave it!
  • #453
  • Aug 10, 2011 12:21am Aug 10, 2011 12:21am
Quoting FX_California
Slurpee:

Do you always use Trailing Stop?

-FX_California

Hi FX,

yes, I do... And as soon as my SL is moved above (below) the entry point, I turn it off and set the SL manually to BE+5...
Live it or leave it!
  • #454
  • Aug 10, 2011 2:02am Aug 10, 2011 2:02am
Quoting Slurpee
Thanks, buddy!

As I say in my first post, I have learned over time that without sticking to your rules, are nothing in the long run. Should I have closed the trade too early, I would be in problems with recent loss in GU. With letting the profit run in this trade, that loss is nothing to my capital... The psychology is the most important thing in this game, that is for sure...
Great psychological strength Slurpee - I am learning a lot from your strength of mind. Thank you.
  • #455
  • Aug 10, 2011 4:44am Aug 10, 2011 4:44am
Quoting jimmc
Great psychological strength Slurpee - I am learning a lot from your strength of mind. Thank you.

You are very welcome! We all learn here...
Live it or leave it!
  • #456
  • Aug 10, 2011 4:47am Aug 10, 2011 4:47am
Quoting Slurpee
I just went long in EG...

SL 120, TP 120, TS 70 = 1st half
SL 120, TP = run, baby run!, TS 70 = 2nd half


trailing stop got hit, that means I am turning it off and setting my SL to BE+5... Freeeee rideeee
Live it or leave it!
  • #457
  • Aug 10, 2011 5:15am Aug 10, 2011 5:15am
Quoting Slurpee
trailing stop got hit, that means I am turning it off and setting my SL to BE+5... Freeeee rideeee
Hi

I thought when 70 is hit in the case of eur/gbp or 100 is hit for eur/usd you just move your stop loss to be+5, I did not know you were using tick by tick trailing stop, could you confirm which one is correct.
Thanks
Regards
  • #458
  • Aug 10, 2011 5:59am Aug 10, 2011 5:59am
Quoting howard
Hi

I thought when 70 is hit in the case of eur/gbp or 100 is hit for eur/usd you just move your stop loss to be+5, I did not know you were using tick by tick trailing stop, could you confirm which one is correct.
Thanks

I use the tick by tick trailing stop just for the case I am leaving my computer on but I cannot watch the charts, which is most of the times... And when I get back to my comp, I check, if the trade went in my direction or not. If yes and the trailing stop got hit, no matter how high above the entry price the SL now is, I remove the trailing stop and move the SL to BE+5...

I hope this is more understandable
Live it or leave it!
  • #459
  • Aug 10, 2011 8:40am Aug 10, 2011 8:40am
I don't know about your trading platform. But in Oanda, my trading platform, E/G hit trailing stop and the trade is over. Now I have to start again if I want to continue..
Quoting Slurpee
trailing stop got hit, that means I am turning it off and setting my SL to BE+5... Freeeee rideeee
  • #460
  • Aug 10, 2011 8:55am Aug 10, 2011 8:55am
unprecedented volatility in the markets today. This morning it looked as if the markets were going up. All wittled away by the new york open

Olu
If you think you can or cannot do it you are correct
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