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  • #682,421
  • Aug 21, 2012 9:04am Aug 21, 2012 9:04am
Eight consecutive green candles and counting. Don't remember this ever happening on the hourly charts.
  • #682,422
  • Aug 21, 2012 9:05am Aug 21, 2012 9:05am
Quoting kibescorp
After I doubled my position size, I set the SL to BE+1 (the new basis), which was 1.2414.

Which was hit at around 7:30 EST.

Just a pip or two lower and it wouldn't have hit, and my account would currently be 50% larger just from the movement over the last several hours.

Anyways, it was stupid and reckless (exactly the kind of trading I try to refrain from) to double my position size when there was absolutely NO indication that the price was moving out of range. Had I not done so I would still be heavily in the green right now....
Personally I do not think is good to trail your SL @ BE, if that BE level is not a good technical level.

Is a bit of a strange myth having a free run once you trail your SL to BE.

That is money that you have made risking your own money, nothing is free.
"Men who can both be right and sit tight are uncommon."
  • #682,423
  • Aug 21, 2012 9:06am Aug 21, 2012 9:06am
Quoting pjpipster
Interesting.

So when you first look at a price chart how do you decide which direction to trade if you are flat? (no current positions)
I just see where price was 3 month ago.If its lower,I buy.If its higher I sell.For some slow pairs like usdcad I check 6 months.And if you have current positions open you can easily guess.And one more thing..Suppose at moment I am selling euro/usd,I am buying usd chf..If you look at chart,you will understand why.I trade 6-8 pairs.So risk is diversified as well
  • #682,424
  • Aug 21, 2012 9:07am Aug 21, 2012 9:07am
Spike i want to see is generated by gbpusd hitting an air pocket soon or at least trying.

After it hits enough offers to get stopped i am willing to open short on eurusd.
They think they are smarter than I am.
  • #682,425
  • Aug 21, 2012 9:08am Aug 21, 2012 9:08am
Quoting JackintheBox
holding short 59 (sold 72 to 64) so rest 65-66 about. Really annoying no real weak sign till now. Stop it !!
now some weekness finally. let's see if some more sellers are there. I will sell my shorts at a lower area if going down now. still 65-66 average...

it'S like the sugar at the top of the cake today if works out.
  • #682,426
  • Aug 21, 2012 9:13am Aug 21, 2012 9:13am
ok folks, now it'S decision time... if down ->down if up more up and same again. I hold short 65/66. good for 10 pips.

please position yourself.
  • #682,427
  • Aug 21, 2012 9:15am Aug 21, 2012 9:15am
Quoting JackintheBox
ok folks, now it'S decision time... if down ->down if up more up and same again. I hold short 65/66. good for 10 pips.

please position yourself.
it is time to short
all stops were triggered
tomorrow we willl be at 2300 again..heh
'You must be the change you wish to see in the world' . Gandhi
  • #682,428
  • Aug 21, 2012 9:17am Aug 21, 2012 9:17am
Quoting India_Trader
I just see where price was 3 month ago.If its lower,I buy.If its higher I sell.For some slow pairs like usdcad I check 6 months
So then you begin your entries with 500 pip psychological stops, then you trail physical stops once in the money?

What happens if the trend moves opposite to your positions when you first enter? Do you just wait it out till it finally goes your way? Adding opposite positions?

I can sort of see this working on small accounts but on large accounts its full of problems.

If you are making money on your accounts thats all that matters really, because there is no exact right or wrong way, its what works for you. But once you get large accounts you will get chopped. So keep to your accounts small.
  • #682,429
  • Aug 21, 2012 9:17am Aug 21, 2012 9:17am
Trailing stop close my position. + 52 pips. Shorted now
  • #682,430
  • Aug 21, 2012 9:18am Aug 21, 2012 9:18am
Quoting kibescorp
How do I go back in time 24 hours so that I can set a BUY order at maximum pos. size?
You cannot. But good thing is that you can always have a peek into the future............. here is the link http://www.forexfactory.com/showthre...?t=405&page=49
The Thief of Wall Street
  • #682,431
  • Aug 21, 2012 9:21am Aug 21, 2012 9:21am
Quoting Chicky
You cannot. But good thing is that you can always have a peek into the future............. here is the link http://www.forexfactory.com/showthre...?t=405&page=49
LOL. The best strategy of all.
"Men who can both be right and sit tight are uncommon."
  • #682,432
  • Aug 21, 2012 9:22am Aug 21, 2012 9:22am
Quoting phxmike
it is time to short
all stops were triggered
tomorrow we willl be at 2300 again..heh
It will test 1,26xxx draw the lines on daily and you can see the head'n'shoulders so technical it stands for UP, and now the fundamentals are also sustaining :

http://www.forexfactory.com/news.php?do=news&id=380104
  • #682,433
  • Aug 21, 2012 9:22am Aug 21, 2012 9:22am
160 + pips from yesterday's low roughly. Congrats to all the bulls here. Nice bounty indeed.

EU wants 2500. Probably wont do anything until FOMC tomorrow. Would like to see if I the trip is extended, or a new train heading south is approaching.
"Trading: the hardest easy money you're going to earn." -Mark Douglas.
  • #682,434
  • Aug 21, 2012 9:22am Aug 21, 2012 9:22am
Quoting phxmike
it is time to short
all stops were triggered
tomorrow we willl be at 2300 again..heh
i hope so, still holding short on 2340
  • #682,435
  • Aug 21, 2012 9:24am Aug 21, 2012 9:24am
London close alarm wake me up

DAX my level touched 7098, cross pair confusing too much

dax knocking door for 7185 (next target)
Mohan
  • #682,436
  • Aug 21, 2012 9:29am Aug 21, 2012 9:29am
Quoting sarfino
i hope so, still holding short on 2340
be careful, we may hit 2750 in the next few days
  • #682,437
  • Aug 21, 2012 9:31am Aug 21, 2012 9:31am
Quoting phxmike
it is time to short
all stops were triggered
tomorrow we willl be at 2300 again..heh

like you would know that - try saying something constructive
  • #682,438
  • Aug 21, 2012 9:41am Aug 21, 2012 9:41am
Euro still looking very very strong, and I'm just plotting a possible high today. On the Daily chart, 61.8% fib held it on the 6th and 7th of August before it came down again, but we're through that now, so for me, as a big fibber, I'm now looking at 76.4% @ 1.2538 for today, with no reason in the world why it won't reach that today.
  • #682,439
  • Aug 21, 2012 9:41am Aug 21, 2012 9:41am
Quoting sarfino
i hope so, still holding short on 2340
no stoploss, no money management, typical junior mistakes..!
  • #682,440
  • Aug 21, 2012 9:42am Aug 21, 2012 9:42am
no red hourly candle since London open
Mohan
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