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  • #3,581
  • Feb 2, 2012 5:02am Feb 2, 2012 5:02am
I see that the 4H trend line is still holding.
It went right up to the trend line touched it and fell back down.
It must be the big boys saying lets see how may SLs can we hit now with that evil laugh

X-man the legendary conqueror of markets
  • #3,582
  • Feb 2, 2012 5:03am Feb 2, 2012 5:03am
Quoting X-Man
I see that the 4H trend line is still holding.
It went right up to the trend line touched it and fell back down.
It must be the big boys saying lets see how may SLs can we hit now with that evil laugh
what kind of traders have that deep pockets to push 45pips in a few seconds?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,583
  • Feb 2, 2012 5:05am Feb 2, 2012 5:05am
Quoting gms
Maybe I should trade without SL like Big E. I would still be in that trade, and with this huge pullback it will probably go south now ....
Thats a double edged sword.

I prefer a tighter SL and tighter TP level and to posibly reenter if SL gets hit.
Thoughts are things
  • #3,584
  • Feb 2, 2012 5:07am Feb 2, 2012 5:07am
Quoting emmanuel7788
what kind of traders have that deep pockets to push 45pips in a few seconds?

Governments and large financial institutions.
  • #3,585
  • Feb 2, 2012 5:11am Feb 2, 2012 5:11am
Quoting gms
Don't know, if they are allowed, but they did. My SL was -30, got out with -50.

Maybe I should trade without SL like Big E. I would still be in that trade, and with this huge pullback it will probably go south now ....
I would seriously think about changing your broker gms....

With today's electronic order fill, a slippage of 20 pips does seem harsh.

I had a similar problem with a new spread bet company some years back,
the 1st and 2nd time after complaining they re-credited my account.
The 3rd time it happened.......the broker was dropped.

If Your in the UK make sure your broker is FSA regulated..
Memories caught in time but never forgotten
  • #3,586
  • Feb 2, 2012 5:13am Feb 2, 2012 5:13am
Quoting emmanuel7788
what kind of traders have that deep pockets to push 45pips in a few seconds?
The world banks.
They all phone each other on their secret line and say BUY on 3 2 1 NOW!!! HAHA

But on a serious note i have no clue what happened. I seen those kinda spikes happening now and then and this is also 1 of the factors creating fear in traders. They become scared to take the next trade because of the bad experience they had.
Like the example of the dog in the book trading in the zone.
When a dog bites you then you will associate that fear with all dogs that you encounter.
X-man the legendary conqueror of markets
  • #3,587
  • Feb 2, 2012 5:16am Feb 2, 2012 5:16am
Quoting j4d
I would seriously think about changing your broker gms....

With today's electronic order fill, a slippage of 20 pips does seem harsh.

I had a similar problem with a new spread bet company some years back,
the 1st and 2nd time after complaining they re-credited my account.
The 3rd time it happened.......the broker was dropped.

If Your in the UK make sure your broker is FSA regulated..
Yip i agree with J4d.
20 pips slippage is a bit steep. if it was 10 pips and below that would be reasonable.
X-man the legendary conqueror of markets
  • #3,588
  • Feb 2, 2012 5:18am Feb 2, 2012 5:18am
Quoting emmanuel7788
WOW!
120 traders viewing S3 thread right now!
That's very high number of traders viewing S3 thread now...
this thread is rocking
The S3 family is a huge family.
We are all going to conquer the forex world
X-man the legendary conqueror of markets
  • #3,589
  • Feb 2, 2012 5:18am Feb 2, 2012 5:18am
Hello Phx62

Did you take same trade 1 feb. 2012 ?

Tnx,

AdryLeo.
  • #3,590
  • Feb 2, 2012 5:19am Feb 2, 2012 5:19am
Those sort of spikes happen when there is low liquidity...

Watch tommorrow at the NFP, the reason that sometimes there's spikes is
down to low liquidity, the big guns pull out until after the results,
Then re-position themselves after release.....

It creates massive volatile PA
Memories caught in time but never forgotten
  • #3,591
  • Feb 2, 2012 5:26am Feb 2, 2012 5:26am
The reason for the spike is the anouncement China is getting more involved in the EFSF and ESM. Permanent rescue packages for the Eurozone

http://www.fxpro.com/news/audio-news
  • #3,592
  • Feb 2, 2012 5:27am Feb 2, 2012 5:27am
Don't know if that was the case but chinese prime minister spoke

China is considering greater involvement in the European Financial Stability Facility (EFSF) and the upcoming European Stability Mechanism (ESM), Chinese Premier Wen Jiabao told journalists on Thursday.
  • #3,593
  • Feb 2, 2012 5:28am Feb 2, 2012 5:28am
Hey Traders,

Quite a spike!

I stopped trying figure out why things like this happen long ago because it's alway too late anyway and I have no influence over it. It will undoubtedly happen again. There's really no way to prepare for such things.

That's why we have stops! I had a short stop and got stopped out at -35 pips. Oh well . . .

Stay focused and follow your rules.

All the best.

dcginc
  • #3,594
  • Feb 2, 2012 5:29am Feb 2, 2012 5:29am
Looking at the daily chart, we are now for several days at the lows of 3 and 4 October 2011.

Big level. It stopped the downtrend in October and now we are stuck here for days.
  • #3,595
  • Feb 2, 2012 5:37am Feb 2, 2012 5:37am
Quoting dcginc
Hey Traders,

Quite a spike!

I stopped trying figure out why things like this happen long ago because it's alway too late anyway and I have no influence over it. It will undoubtedly happen again. There's really no way to prepare for such things.

That's why we have stops! I had a short stop and got stopped out at -35 pips. Oh well . . .

Stay focused and follow your rules.

All the best.


 dcginc
I agree that we should never worry about the things thats out of control.
By the way the article on your blog "the 3 greatest enemies of success" on your blog was a really good read. I enjoy stuff like that to read.
I would advise everyone to read that
X-man the legendary conqueror of markets
  • #3,596
  • Feb 2, 2012 5:41am Feb 2, 2012 5:41am
X-Man
Quote
I enjoy stuff like that to read.
I would advise everyone to read that

Thanks X. I'll be providing lots of articles just like it in the future. They apply to trading, but are also universal in their application.

Thanks for your support!

All the best.

dcginc
  • #3,597
  • Feb 2, 2012 6:02am Feb 2, 2012 6:02am
Just like to say thanks to xman and dgcinc -this is building into a great community on this thread and dgcinc website. Keep up the great work it is very encouraging to those of us yet to make the breakthrough to consistent profitability
  • #3,598
  • Feb 2, 2012 6:22am Feb 2, 2012 6:22am
Closed my trade at 60pips. Content and happy

Entered short after the candle with the long upper wick.
X-man the legendary conqueror of markets
  • #3,599
  • Feb 2, 2012 6:38am Feb 2, 2012 6:38am
Quoting X-Man
Closed my trade at 60pips. Content and happy

Entered short after the candle with the long upper wick.



May i ask you when do you put your SL to BE?
I took the same two trades as you, the only different thing was my SL methode, now locked my +4pips

I think if the next candle starts under the 200ema i will go short again...
  • #3,600
  • Feb 2, 2012 6:42am Feb 2, 2012 6:42am
Hi X-MAN,

My First trade with this system.

Thank you
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