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  • #561,501
  • Nov 14, 2011 3:56am Nov 14, 2011 3:56am
Quoting happytrader
how do you guys manage your sl?

don't you find it frustrating when u move your sl to be and after 5 mins, your sl got hit...?

it's like a trade wasted....

the euro retracements are a bit like sl hunters... my god
if you are happy with your sl when you enter a trade then just leave it dont move it to be after x amount of pips, if your sl gets hit so what just say NEXT and move onto looking for the next trade setup, there is a reason your sl is x amount of pips according to your trading plan which should factor in you having losing trades
  • #561,502
  • Nov 14, 2011 3:58am Nov 14, 2011 3:58am
Quoting happytrader
how do you guys manage your sl?

don't you find it frustrating when u move your sl to be and after 5 mins, your sl got hit...?

it's like a trade wasted....

the euro retracements are a bit like sl hunters... my god
I'm a swing technical trader.

Usually i take 3% risk, when my trade is 3% up, i shift to b/e +1 and when i'm 5% up, i shift to lock in 3%

But i'm guessing you're still a day trader and such a strategy is not profitable to you. Unless you get out of scalping pips and go hunt some big bucks
  • #561,503
  • Nov 14, 2011 4:03am Nov 14, 2011 4:03am
Quoting life9001
short at breakout 1.3686 within 30 minutes, thanks for any comments.
now is 1800, GMT+8, still short at breakout 1.3686 within next 30 minutes, still thanks for comments
  • #561,504
  • Nov 14, 2011 4:07am Nov 14, 2011 4:07am
Quoting GreatNorth
Thanks! I think we are heading to the lows of the day. 3688 or 3683 should be it. I'm entering long there for TP at 3840 with a tight SL.

Almost there...
Entered long at 3683
  • #561,505
  • Nov 14, 2011 4:07am Nov 14, 2011 4:07am
3652 next
  • #561,506
  • Nov 14, 2011 4:09am Nov 14, 2011 4:09am
Quoting jayjb
I'm a swing technical trader.

Usually i take 3% risk, when my trade is 3% up, i shift to b/e +1 and when i'm 5% up, i shift to lock in 3%

But i'm guessing you're still a day trader and such a strategy is not profitable to you. Unless you get out of scalping pips and go hunt some big bucks
i wanna be a swing trader for many reasons, including not having to glue my eyes to the screen. it's quite unproductive in a way.

looking back at my 5 trades since this morning.. i realized that if I JUST MOVE AWAY FROM MY DAMN SCREEN after the 1st trade, i would be earning 80 pips!

i got this psychological barrier in my mind. every time i enter a trade and i will...get panic when i see a reversal candlestick or a small retracement....

i must overcome this!!!!
  • #561,507
  • Nov 14, 2011 4:10am Nov 14, 2011 4:10am
I think it's rather possible that EURUSD will rise from present levels! Due to I observe strong support level at 1.3675!
  • #561,508
  • Nov 14, 2011 4:13am Nov 14, 2011 4:13am
Quoting 21vs7
Italy still on a buy button.

1,3730 in play for the next hours. Will see what they will decide.
bid to cover ratio 1,47, better than last one..

sold it at 6,29%

1,3660 to look, 1,3730 still in play.
  • #561,509
  • Nov 14, 2011 4:22am Nov 14, 2011 4:22am
Quoting GreatNorth
Entered long at 3683


You win
  • #561,510
  • Nov 14, 2011 4:28am Nov 14, 2011 4:28am
Quoting shivas
You win
SL at BE+1. TP 3840.
  • #561,511
  • Nov 14, 2011 4:35am Nov 14, 2011 4:35am
Quoting life9001
now is 1800, GMT+8, still short at breakout 1.3686 within next 30 minutes, still thanks for comments
1830, GMT+8, abandon above things.
  • #561,512
  • Nov 14, 2011 4:42am Nov 14, 2011 4:42am
Quoting GreatNorth
SL at BE+1. TP 3840.

would that be a 123.6 fib level?
  • #561,513
  • Nov 14, 2011 4:47am Nov 14, 2011 4:47am
DP under pressure, still holds. If all those retests fail, I might take one quick long...

...or short, in case it gets fairly broken
Quant Hedge Fund CEO
  • #561,514
  • Nov 14, 2011 5:02am Nov 14, 2011 5:02am
Quoting FXMastermind
DP under pressure, still holds. If all those retests fail, I might take one quick long...

...or short, in case it gets fairly broken
short after DP break .3705
Quant Hedge Fund CEO
  • #561,515
  • Nov 14, 2011 5:04am Nov 14, 2011 5:04am
Quoting FXMastermind
short after DP break .3705
??? are you using sunday data?
  • #561,516
  • Nov 14, 2011 5:05am Nov 14, 2011 5:05am
Quoting gino32
still shorting until i hit target at 1.3179. This bull wave should end tomorrow...
Have you set a SL? How long you anticipate waiting to hit your target?
  • #561,517
  • Nov 14, 2011 5:07am Nov 14, 2011 5:07am
Quoting FibbinArchie
??? are you using sunday data?
You have a different DP level? This depends mostly on the broker you are using, doesnīt it?
Quant Hedge Fund CEO
  • #561,518
  • Nov 14, 2011 5:08am Nov 14, 2011 5:08am
Quoting FibbinArchie
??? are you using sunday data?
Btw itīs 1.37065 for me exactly.
Quant Hedge Fund CEO
  • #561,519
  • Nov 14, 2011 5:11am Nov 14, 2011 5:11am
Quoting happytrader
i wanna be a swing trader for many reasons, including not having to glue my eyes to the screen. it's quite unproductive in a way.

looking back at my 5 trades since this morning.. i realized that if I JUST MOVE AWAY FROM MY DAMN SCREEN after the 1st trade, i would be earning 80 pips!

i got this psychological barrier in my mind. every time i enter a trade and i will...get panic when i see a reversal candlestick or a small retracement....

i must overcome this!!!!
Risk Management

I said it to you before, when I started forex, I scoffed at the notion of using a small percentage of risk eg 3% while 97% of your money sits around doing nothing.

So I often trade my entire account or close to it, I found myself very glued to the screen.

But when I learnt the importance of risk management, I was very relaxed and only log in once a day to check my account and look for new signals. And with my 1:2 r/r ratio, I was doing 15% for 4 weeks straight until a losing week broke my streak.

If I lose 9% of my account in that week, I stop trading for that week. If I gain 10% or more, I slow it down.

My holy grail is my trading mentality, and last piece of advice, take things from this forum with a pinch of salt, most people here are trading very small $10 over leveraged accounts or demo.

Only a select few are truly good, I'll leave you to find out who those people are.
  • #561,520
  • Nov 14, 2011 5:17am Nov 14, 2011 5:17am
Quoting FXMastermind
short after DP break .3705
...and out .3660 for +45 pips. So far good day today.
Quant Hedge Fund CEO
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