DislikedThis EU trade closed before NYO.
Decide to cut loss on this CT trade.
Closing shop for this week and wait for London Olympics Opening Ceremony.
Plenty of sports to watch.
Have a Great Weekend Everyone!Ignored
have a nice weekend to for u..
- #38,022
- Jul 27, 2012 7:12am Jul 27, 2012 7:12am
Yeah, nice !
I said "short EU at this time is not a good idea. EU was rising last two days with increase volume.", but i do not mean buying Eu because there is still no sonicR setup for EU.
I think you will right today
I long AU at 1.0439
Here my chart..
But EU looks promising going UP, usually AU will follow ^^.
Just my 2 cent, sorry if i make u offended..
- #38,024
- Jul 27, 2012 7:27am Jul 27, 2012 7:27am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Expecting arround 40-50 pips from each.
Hi Msis,
both are good trades in my opinion...your follow the rules.
everything seems line up nicely.
price above EMA34 and above EM89... BUY only.
manage well!
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #38,025
- Jul 27, 2012 7:34am Jul 27, 2012 7:34am
- Joined Nov 2008 | Status: Trader | 50,190 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #38,026
- Jul 27, 2012 7:42am Jul 27, 2012 7:42am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #38,028
- Jul 27, 2012 8:01am Jul 27, 2012 8:01am
- | Joined Jan 2011 | Status: Just a trader of trades ... (5 | 1,439 Posts
enjoy my life ... and ride the waves - all what I do 
- #38,029
- Jul 27, 2012 8:04am Jul 27, 2012 8:04am
- | Joined Jan 2011 | Status: Just a trader of trades ... (5 | 1,439 Posts
enjoy my life ... and ride the waves - all what I do
- #38,031
- Jul 27, 2012 8:22am Jul 27, 2012 8:22am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #38,032
- Edited 8:48am Jul 27, 2012 8:24am | Edited 8:48am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #38,033
- Jul 27, 2012 10:41am Jul 27, 2012 10:41am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Incase nobody learned anything today, here was my thinking and trading behind E/U pair.
In short, my short trade taken at TP1, then remaining half of the position taken out at SL, which I moved to lower high. Then my BUYSTOP gets triggered and both TPs get hit.
The trading example you have posted is a nice piece of work. It is very clearly illustrated and annotated. Everyone outside the USA should be able to implement this. However, USA traders cannot.
USA traders cannot have a running trade, let's say a short trade per your example, with a SL on it, and also place a buy order at a price lower than that SL. This was the final stage of your example where you had lowered your SL on the short trade following TP1 being reached, and then placed a Buy Stop order upon seeing bullish PA. For USA traders, they would have to close out the short order before placing the long order. All this is complements of the NFA having imposed no hedging rules which your example violates.
I just want USA Sonicers to know of this possible complication. USA traders cannot open a long position while having an open short position (and visa vera). And even if the pending long order is at a level where the short trade would already have been closed (via SL being reached), brokers might not even accept the pending long order until the short trade has actually been closed! USA traders will have to find out from their brokers how they work under such conditions. Having multiple accounts might be a solution, so an opposing direction trade can be entered via a different account.
-tah
- #38,034
- Edited 11:15am Jul 27, 2012 11:03am | Edited 11:15am
TAH, good observation.
I have had this issue when I moved to Oanda, which is governed by NFA. Even in European division, I cannot have both Long and Short positions open at the same time.
What I did to go around it is to have my buystop/sellstop order 0.1 pip above/below the stop loss. Done deal, no more problems. My SLs get hit, before my stop orders get triggered by 0.1 of a pip.
Yep, that might be true. I'm lucky that my broker allows it I guess ECN brokers would most likely prohibit that.
Cheers
EDIT: For example in this case, the SL is moved 0.1 of a pip below Buystop.
I have had this issue when I moved to Oanda, which is governed by NFA. Even in European division, I cannot have both Long and Short positions open at the same time.
What I did to go around it is to have my buystop/sellstop order 0.1 pip above/below the stop loss. Done deal, no more problems. My SLs get hit, before my stop orders get triggered by 0.1 of a pip.
[...]And even if the pending long order is at a level where the short trade would already have been closed (via SL being reached), brokers might not even accept the pending long order until the short trade has actually been closed! [...]
I guess ECN brokers would most likely prohibit that.Cheers
EDIT: For example in this case, the SL is moved 0.1 of a pip below Buystop.
cut losses short, let profits run.
- #38,035
- Jul 27, 2012 1:31pm Jul 27, 2012 1:31pm
Yesterday, I was comparing brokers and discovered that Oanda now allows the use of MT4.
When I chose my broker originally, I had narrowed it down to Oanda and IBFX but chose IBFX so that I could use MT4 charts. Now that Oanda has it, I'm planning to switch to them. IBFX hits me with charges left and right. Oanda doesn't.
Maybe this info is useful to others here.
Regards,
GK.
Hi Msis,
both are good trades in my opinion...your follow the rules.
everything seems line up nicely.
price above EMA34 and above EM89... BUY only.
manage well!
regards,
can you show me ema34 and em 89, or even explain it better, as i am trading only for a year i have no idea what are they?
There is no spoon....
Can you check pepperstone Mt4 ECN broker and review about this broker. I am using this broker past 6 months. You just compare execution speed and spread. I have no problem with this broker. May be you can find something from your view.
Regards,
GK.
http://www.forexpeacearmy.com/public...epperstone.com
From what I can tell, you can find good AND bad about any broker. The best bet is to find someone you like (and trust) and stick with them.
