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  • #677,361
  • Aug 8, 2012 1:25pm Aug 8, 2012 1:25pm
Quoting spartanforex
covering short from 12400 here (+53) looking to go long around 12290.
Why you existed then, if you expect the price to drop till 122900 ? The current price just penetrated - as expected -23500 and next station is 23150 ..
"It's the Margin, Stupid."
  • #677,362
  • Aug 8, 2012 1:36pm Aug 8, 2012 1:36pm
Anyone uses MBFX indicator here?
  • #677,363
  • Aug 8, 2012 1:36pm Aug 8, 2012 1:36pm
Quoting catalin1987
sorry for my newbie question.what means "covering short or covering long".thanks
Its buying when the price is soaring up and when it reaches a resistance line and can't cross it , you close the position and open opposite one ... or vise verse
"It's the Margin, Stupid."
  • #677,364
  • Aug 8, 2012 1:40pm Aug 8, 2012 1:40pm
Quoting catalin1987
sorry for my newbie question.what means "covering short or covering long".thanks

covering short means buying to exit a short position.

It is what actually happens when you hit the Close Position button.

vice verse for covering a long
  • #677,365
  • Aug 8, 2012 1:40pm Aug 8, 2012 1:40pm
patience .. patience .. patience
  • #677,366
  • Aug 8, 2012 1:42pm Aug 8, 2012 1:42pm
Quoting MaxDoom
covering short means buying to exit a short position.

It is what actually happens when you hit the Close Position button.

vice verse for covering a long
Hey max , I am curious , are you a scalper ???
Human
  • #677,367
  • Aug 8, 2012 1:44pm Aug 8, 2012 1:44pm
Quoting Chanya
Hey max , I am curious , are you a scalper ???

no not really, depends on your definition

I rarely leave a trade open over night.

I trade high probability setups mainly rewards can be between 20 and 200 pips depends on the setup

edit: so as an example I am currently trading crude through what I hope will be a down leg from 94.xx to 84.xx but I will get in an out a couple of times most likely as the market swings about. but the emphasis is on trading to 84.xx
  • #677,368
  • Aug 8, 2012 1:47pm Aug 8, 2012 1:47pm
Quoting MaxDoom
no not really, depends on your definition

I rarely leave a trade open over night.

I trade high probability setups mainly rewards can be between 20 and 200 pips depends on the setup

edit: so as an example I am currently trading crude through what I hope will be a down leg from 94.xx to 84.xx but I will get in an out a couple of times most likely as the market swings about. but the emphasis is on trading to 84.xx
Okay great ... Do you prefer a specific timeframe ?
Human
  • #677,369
  • Aug 8, 2012 1:49pm Aug 8, 2012 1:49pm
Quoting catalin1987
sorry for my newbie question.what means "covering short or covering long".thanks
It's just admitting you have a losing trade and you close it.
Both short and long. Wise thing to do.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #677,370
  • Aug 8, 2012 1:49pm Aug 8, 2012 1:49pm
Quoting Chanya
Okay great ... Do you prefer a specific timeframe ?
I tend to work down from the daily, then hourly, then M15 looking for the setups. I quite often refine my entry and exit on an M5
  • #677,371
  • Aug 8, 2012 1:51pm Aug 8, 2012 1:51pm
Quoting KillerWhale
It's just admitting you have a losing trade and you close it.
Both short and long. Wise thing to do.
I guess "covering" sounds less stupid then admitting you have a losing trade, that's probably why they use that word.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #677,372
  • Aug 8, 2012 1:53pm Aug 8, 2012 1:53pm
Quoting KillerWhale
It's just admitting you have a losing trade and you close it.
Both short and long. Wise thing to do.
I guess the word "covering" sounds less stupid then admitting your are wrong.
That's why they use that word.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #677,373
  • Aug 8, 2012 1:54pm Aug 8, 2012 1:54pm
Quoting MaxDoom
I tend to work down from the daily, then hourly, then M15 looking for the setups. I quite often refine my entry and exit on an M5
I tend to work at daily mostly but very very rarely lower then this ... Cool , now with your post , I can also have a idea whats going on lower time frames ....
Human
  • #677,374
  • Aug 8, 2012 2:04pm Aug 8, 2012 2:04pm
Quoting KillerWhale
I guess the word "covering" sounds less stupid then admitting your are wrong.
That's why they use that word.
............. it indeed looks less stupid..........
The Thief of Wall Street
  • #677,375
  • Aug 8, 2012 2:06pm Aug 8, 2012 2:06pm
Quoting Chanya
Okay great ... Do you prefer a specific timeframe ?
........... no, but I like few positions better than other.
The Thief of Wall Street
  • #677,376
  • Aug 8, 2012 2:06pm Aug 8, 2012 2:06pm
Quoting Chicky
............. it indeed looks less stupid..........



New voice message: Why are you calling me? If I need you, I'll call you!
  • #677,377
  • Aug 8, 2012 2:09pm Aug 8, 2012 2:09pm
Quoting KillerWhale
I guess the word "covering" sounds less stupid then admitting your are wrong.
That's why they use that word.

Not quite,you close a long and cover a short,
from the days when we used phones to place orders.
You can remain irrational longer than you can remain solvent.
  • #677,378
  • Aug 8, 2012 2:11pm Aug 8, 2012 2:11pm
Quoting KillerWhale



Oops, 2 of my girl friends need me to cover something, don't know what yet.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #677,379
  • Aug 8, 2012 2:12pm Aug 8, 2012 2:12pm
Quoting Pair-me-up
Do the brokers in New York take a lunch break? I am guessing they do, since this PA is really slow.....
You can expect anything from New Yorkers.
The Thief of Wall Street
  • #677,380
  • Aug 8, 2012 2:13pm Aug 8, 2012 2:13pm
Quoting KillerWhale
Oops, 2 of my girl friends need me to cover something, don't know what yet.
Their eyes............. probably.
The Thief of Wall Street
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