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  • #690,101
  • Sep 10, 2012 1:39pm Sep 10, 2012 1:39pm
Quoting Tadej89
I don't know man...in this case I sold euro at 88 (at this moment I had -1 pip) but my stop loss was at 94. Price reached 93 and its really hard to understand why position was closed.

And on the other hand I had pending order at 75. Why the hell didn't it open I don't know.

If I'm falling from a 100m high cliff and when I fall 99m down I'm not dead yet right? I'm dead exactly at 0m!
seems like your broker hasn't done anything wrong...
  • #690,102
  • Sep 10, 2012 1:40pm Sep 10, 2012 1:40pm
You buy at BID and you sell at ASK between those two prices you have spread for the broker.

If you "see" price at 93 it's possible to be the "ask" so your stop loss sell is a "rebuy" so if you have 1 pip spread it's the BID at 94 so you rebuy your sell at this price 94 at your stop loss but maybe your broker show the ASK at 93.
  • #690,103
  • Sep 10, 2012 1:43pm Sep 10, 2012 1:43pm
Quoting Tokkers
You buy at BID and you sell at ASK between those two prices you have spread for the broker.

If you "see" price at 93 it's possible to be the "ask" so your stop loss sell is a "rebuy" so if you have 1 pip spread it's the BID at 94 so you rebuy your sell at this price 94 at your stop loss but maybe your broker show the ASK at 93.
If the bid is at 93 the ask is at 94 provided 1 pip spread. Ask is always above the bid. The candles on the chart are built off the bid price.
  • #690,104
  • Sep 10, 2012 1:46pm Sep 10, 2012 1:46pm
Ok I get it.
  • #690,105
  • Edited 2:11pm Sep 10, 2012 1:47pm | Edited 2:11pm
Quoting attila
If the bid is at 93 the ask is at 94 provided 1 pip spread. Ask is always above the bid. The candles on the chart are built off the bid price.
Then I said that backwards lol. I said stop loss on a sell = ask + spread

But actually stop loss on a sell = bid price + spread (which is ask)?

So ask is the price you buy at and bid the price you sell at. Always thought it was opposite, just had the names wrong. I thought a bid was going long and ask was going short but its opposite.

The names bid and ask make it seem opposite of what it really is (mentally I just think of a bid as an offer to buy, and an ask an offer to sell, perhaps something to do with auctions? Idk but thats not how it is with Forex)

ediT: typos/sp
Be hopeful in a winning position, and fearful in a losing position.
  • #690,106
  • Sep 10, 2012 1:53pm Sep 10, 2012 1:53pm
Quoting Rag2RichesFX
Then I said that backwards lol. I said stop loss on a sell = ask + spread

But actually stop loss on a sell = bid price + spread (which is ask)?

So ask is the price you buy at and bid the price you sell at. Always thought it was opposite, just had the names wrong. I thought a bid was going long and ask was going short.
A SL on a sell is a buy. The buy and sell (ask) have to match. The chart shows the bid. If you have it show the ask line you'll see it above the price. When that ask line crosses your SL level your position is closed. So bid + spread (which makes up the ask price)= your SL.

For a short position to close at the TP, it's in reverse.. The bid price (chart price) has to go passed your TP with an amount equal to the spread. Your TP is at the bid in this case (you're buying back, with profit this time), so again the ask has to match the bid..

Now for pendings, buys.. I don't want to work now.. Too much thinking.
  • #690,107
  • Sep 10, 2012 1:55pm Sep 10, 2012 1:55pm
Quoting Tadej89
Ok I get it.
Look for "Online trading academy" dvds, they have something like 1 or 2 first Dvd (On 24) explain how work a market and orders (filled, bid, ask etc) that's pretty cool.
  • #690,108
  • Sep 10, 2012 2:04pm Sep 10, 2012 2:04pm
Quoting Rag2RichesFX
Then I said that backwards lol. I said stop loss on a sell = ask + spread

But actually stop loss on a sell = bid price + spread (which is ask)?

So ask is the price you buy at and bid the price you sell at. Always thought it was opposite, just had the names wrong. I thought a bid was going long and ask was going short but its opposite.

The names bid and ask make it seem opposite of what it really is (mentally I just think of a bid as an offer to buy, and an ask an offer to sell, perhaps something to due with auctions? Idk but thats not how...
The terms BID and ASK are taken from the view of trading desks of your finance services ...

Your dentist or doctor will have another kind of terms of "RIGHT" or "LEFT" side of your body too ... he won't use it the way you tend to name it ...

No reason to get confused ...

Just a question of prospective ...




;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #690,109
  • Sep 10, 2012 2:04pm Sep 10, 2012 2:04pm
What's up with the bid/ask ? lol

You guys shoudn't even trade if you don't know that
COT: The precious data ignored
  • #690,110
  • Sep 10, 2012 2:10pm Sep 10, 2012 2:10pm
short at 1.2764

expecting a bit of a bulls' stops chase ?
  • #690,111
  • Sep 10, 2012 2:10pm Sep 10, 2012 2:10pm
Quoting attila
A SL on a sell is a buy. The buy and sell (ask) have to match. The chart shows the bid. If you have it show the ask line you'll see it above the price. When that ask line crosses your SL level your position is closed. So bid + spread (which makes up the ask price)= your SL.

For a short position to close at the TP, it's in reverse.. The bid price (chart price) has to go passed your TP with an amount equal to the spread. Your TP is at the bid in this case (you're buying back, with profit this time), so again the ask has to match the bid..

Now for...
I understand all of that, just thought the bid price was actually called ask, and ask actually called bid. Not that the names matter anyway.

Long 2759
Attached Image (click to enlarge)
Click to Enlarge Name: EU-M5-9-10-12.jpg Size: 130 KB
Be hopeful in a winning position, and fearful in a losing position.
  • #690,112
  • Sep 10, 2012 2:16pm Sep 10, 2012 2:16pm
Quoting demoreal
short at 1.2764

expecting a bit of a bulls' stops chase ?

target 1 1.2748

target 2 1.2720

target 3 1.2700

target 4 - when it stops falling
  • #690,113
  • Sep 10, 2012 2:20pm Sep 10, 2012 2:20pm
Quoting demoreal
target 1 1.2748

target 2 1.2720

target 3 1.2700

target 4 - when it stops falling
Should have waited for a better entry for getting short IMO.

This is a H4 bull zone, the short RR is not there at these levels.
Be hopeful in a winning position, and fearful in a losing position.
  • #690,114
  • Sep 10, 2012 2:27pm Sep 10, 2012 2:27pm
Quoting Rag2RichesFX
Should have waited for a better entry for getting short IMO.

This is a H4 bull zone, the short RR is not there at these levels.
I am sorry for a noobie question but what RR stands for?
  • #690,115
  • Sep 10, 2012 2:28pm Sep 10, 2012 2:28pm
Quoting Rag2RichesFX
Should have waited for a better entry for getting short IMO.

This is a H4 bull zone, the short RR is not there at these levels.
I'll add to my short if it comes to 1.2774 (following LLs & LHs on 3 min)
  • #690,116
  • Sep 10, 2012 2:29pm Sep 10, 2012 2:29pm
Quoting MorganX
I am sorry for a noobie question but what RR stands for?
risk reward ratio. E.g. you risk 1 dollar to make 3 has a RR of 1:3. Always try to have a higher reward than what you risk.
  • #690,117
  • Sep 10, 2012 2:32pm Sep 10, 2012 2:32pm
I am looking at H1 chart of gold as sword to fall . Like high, higher and highest followed by candles with indecision to follow
  • #690,118
  • Sep 10, 2012 2:34pm Sep 10, 2012 2:34pm
Quoting Rag2RichesFX
I understand all of that, just thought the bid price was actually called ask, and ask actually called bid. Not that the names matter anyway.

Long 2759


Out for -1, ill try 2750 or we may double bottom here and ill get long again.
Be hopeful in a winning position, and fearful in a losing position.
  • #690,119
  • Sep 10, 2012 2:35pm Sep 10, 2012 2:35pm
Quoting attila
We have a range and bulls kind of have it on the fast chart.

Attachment
Posted above in the morning.. Beautiful PA.. Know your s/r and you'll do just fine.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 47 KB
  • #690,120
  • Sep 10, 2012 2:37pm Sep 10, 2012 2:37pm
Quoting ExForX
risk reward ratio. E.g. you risk 1 dollar to make 3 has a RR of 1:3. Always try to have a higher reward than what you risk.
I'll take it one step further. Don't enter ANY trade unless full take profit is at least 2x higher than full stop loss.

IE 10 pip stop 20 pip target

OR, you are 90% certain you will be successful with the trade. But still good RR is recommended.
Be hopeful in a winning position, and fearful in a losing position.
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