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  • #713,781
  • Nov 2, 2012 8:32am Nov 2, 2012 8:32am
Quoting Paulenok
Building shorts to 1.283x
Alright, long from here, 1.283 shall act as a decent support. However, 1.28000 might be on the cards right now, but r/r is worth giving it a try.

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  • #713,782
  • Nov 2, 2012 8:37am Nov 2, 2012 8:37am
Quoting ForExtraPips
Never move SL, correct. Just the tp. Risk can be controlled, reward can't. GL to you, too.
I never in 15 yrs of trading ever heard of that. Im not sure what system you use. It might be interesting. Anyone who has any experience though, will tell you, you dont move your tgt. , you move your sop loss up(if you must move something) to lock in more gains. I dont know abouit you guys, but if I am up 100 pips and my tgt would give me 150, i will feel sick if I move my tgt down to caqture the 100. Why. Because all I have to do is move my stop loss up so Im guaranteed 50 pips profit and then I have to win either way. The other way you might lose. But I dont know what system you guys are working. It just sounds very un-orthodox to me. I invite a private message if someone would care to explain. Im not on this thread too often.

to the winner go the spoils!!!! =)
  • #713,783
  • Nov 2, 2012 8:44am Nov 2, 2012 8:44am
Quoting Silat50
I never in 15 yrs of trading ever heard of that. Im not sure what system you use. It might be interesting. Anyone who has any experience though, will tell you, you dont move your tgt. , you move your sop loss up(if you must move something) to lock in more gains. I dont know abouit you guys, but if I am up 100 pips and my tgt would give me 150, i will feel sick if I move my tgt down to caqture the 100. Why. Because all I have to do is move my stop loss up so Im guaranteed 50 pips profit and then I have to win either way. The other way you might...
Let me clarify. What I meant is when I go to place the trade, and it's coming towards my sl, then I let it get hit. If I was wrong, I was wrong. But if and when the trade is going my way, then I'll move the sl up to B/E, for a risk free trade, if conditions are right. Sometimes, after moving my sl to B/E, just to see price come back and get hit, where if I would have left it alone, then could have went for the ride.
Time turns trend. - W.D. Gann
  • #713,784
  • Nov 2, 2012 8:44am Nov 2, 2012 8:44am
Quoting Silat50
never move stop loss? I never in 15 yrs of trading ever heard of that. Im not sure what system you use. It might be interesting.
it means if the SL gets hit then it gets hit. i.e. say 2850 was SL for LONG. but then PA seems almost to reach your SL, then you move SL to 2845 -> we must NEVER do that.

but say entry price was 2860, then PA moves to 2880, then we can move TRAILING SL to 2862, or whatever is BE+spread, to ensure that winning trades never go sour but try to see if it can reach the nearest R1/R2/R3 -> this one is highly recommended

holy cow! if this breaches S4, then hello 1.2800!

i believe there are pending shorts below S4, hence, PA will land slide. no hope for the bulls today.

closed shop. no intention of giving back any pip.

trade wisely!
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  • #713,785
  • Nov 2, 2012 8:50am Nov 2, 2012 8:50am
Easy come easy go. i'm done 4 today. All my plan wks as expected.
Happy weekend pals..see u nxt week.
forexpillariscipline & patience Trader
  • #713,786
  • Nov 2, 2012 9:00am Nov 2, 2012 9:00am
We may close week around (1.28)35 which is around mid (1.2946 friday open, 1.2924 weekly open).

Asia changed to Saturday an hour ago, so they will likely experience a nice gap either way if price deviates from 44.

Just thinking where it will open after weekend.
They think they are smarter than I am.
  • #713,787
  • Nov 2, 2012 9:09am Nov 2, 2012 9:09am
Good day my dear fellows!
Not all sins are created equal
  • #713,788
  • Nov 2, 2012 9:12am Nov 2, 2012 9:12am
Quoting Jay Walker
Good day my dear fellows!
you, too. Nice day this trading day for me. Like it
  • #713,789
  • Nov 2, 2012 9:19am Nov 2, 2012 9:19am
Quoting ForExtraPips
Let me clarify. What I meant is when I go to place the trade, and it's coming towards my sl, then I let it get hit. If I was wrong, I was wrong. But if and when the trade is going my way, then I'll move the sl up to B/E, for a risk free trade, if conditions are right. Sometimes, after moving my sl to B/E, just to see price come back and get hit, where if I would have left it alone, then could have went for the ride.
I agree with that. We just had a communication problem. Thank you! Also someone said something I always think of as I think its what most traders ignore in lieu of all the 100's of wise trading sayings we stuff in our head, and that is: Once you put on a trade, you never get out unless the reason for being in it goes away or changes. Then you BETTER get out.

I LOVE THAT ONE!
  • #713,790
  • Nov 2, 2012 9:20am Nov 2, 2012 9:20am
Quoting JackintheBox
you, too. Nice day this trading day for me. Like it
I've been liking this trade for the past 2 days
Not all sins are created equal
  • #713,791
  • Nov 2, 2012 9:21am Nov 2, 2012 9:21am
see you next week everyone...
  • #713,792
  • Nov 2, 2012 9:33am Nov 2, 2012 9:33am
16:30 GMT, volume has decreased, have the NY guys gone home, if they ever even went to work?????

If it drops under 1.2840 again I'll close all my shorts
  • #713,793
  • Nov 2, 2012 9:38am Nov 2, 2012 9:38am
could it just quietly turn after that drop? I don't think so - another little push coming I reckon
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  • #713,794
  • Nov 2, 2012 9:47am Nov 2, 2012 9:47am
Quoting chazzle
could it just quietly turn after that drop? I don't think so - another little push coming I reckon
no baby bull without push down.
  • #713,795
  • Nov 2, 2012 9:56am Nov 2, 2012 9:56am
gold 1677 should hold it good rr for a long
  • #713,796
  • Nov 2, 2012 9:59am Nov 2, 2012 9:59am
it'll get sucked to 2800 - euro likes being sucked down
TRADE FOR SWAP
  • #713,797
  • Nov 2, 2012 10:01am Nov 2, 2012 10:01am
Catch you next week guys. cya
  • #713,798
  • Nov 2, 2012 10:02am Nov 2, 2012 10:02am
Quoting Jay Walker
I've been liking this trade for the past 2 days
Will it come to 1.2800
  • #713,799
  • Nov 2, 2012 10:24am Nov 2, 2012 10:24am
Quoting sidhujag
gold 1677 should hold it good rr for a long
Sl $1
  • #713,800
  • Nov 2, 2012 10:37am Nov 2, 2012 10:37am
US stocks testing lower.

Eurgbp and cable testing which side breaks first, until then eurusd in tight range around Asia todays weekly close at 44.

I guess they do not want it to be cracked upside, they were the ones shorted it from 1.2946/7.

But let's see
They think they are smarter than I am.
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