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  • #723,181
  • Nov 27, 2012 9:22am Nov 27, 2012 9:22am
Quoting todstars2
Seen a lot of conversation lately revolving round stop loss.

Thought i would add my two cents.

I've come to not think much of a "physical" stop loss in Forex not to say I dont believe in a mental stop loss.

My reason is this:

Unlike stock markets, there is no END to the business day conveniently laid out for you and other players when most of the players are in the market.

Forex markets are 24 hours a day, with some periods have very little to 0 liquidity across the board.

This fact requires your stop loss to be ELASTIC if you...

well 10/10 for bravery in putting that out there, it could open a whole big can of worms


edit:

setting stops is a form of art and everybody will have their own preferences.

However you physically or otherwise implement your stops, getting them in the right place will make or break your account.
  • #723,182
  • Nov 27, 2012 9:23am Nov 27, 2012 9:23am
NO TP , just wait for doji to appear
  • #723,183
  • Nov 27, 2012 9:27am Nov 27, 2012 9:27am
Quoting MaxDoom
well 10/10 for bravery in putting that out there, it could open a whole big can of worms


edit:

setting stops is a form of art and everybody will have their own preferences.

However you physically or otherwise implement your stops, getting them in the right place will make or break your account.
people tend to be risk appetite when setting SL and risk aversion when setting TP, actually it should be the other way round.
  • #723,184
  • Nov 27, 2012 9:27am Nov 27, 2012 9:27am
Now the Euro will retest 1.29450, forming the backside of the handle in the cup with handle formation as seen on the H4 and the Daily. I expect it to fail to make new highs from there, which is where the pair will fall to at least 1.28.
  • #723,185
  • Nov 27, 2012 9:27am Nov 27, 2012 9:27am
Quoting todstars2
Seen a lot of conversation lately revolving round stop loss.

Thought i would add my two cents.

I've come to not think much of a "physical" stop loss in Forex not to say I dont believe in a mental stop loss.

My reason is this:

Unlike stock markets, there is no END to the business day conveniently laid out for you and other players when most of the players are in the market.

Forex markets are 24 hours a day, with some periods have very little to 0 liquidity across the board.

This fact requires your stop loss to be ELASTIC if you want your...
We kind of touched on this topic yesterday; no stop loss is an easy way to have unlimited risk. It only takes one unexpected major news event to wipe your account out while you were using the toilet.

Anyway, going to target long at 1.28330.

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  • #723,186
  • Nov 27, 2012 9:30am Nov 27, 2012 9:30am
Quoting Kanzler
We kind of touched on this topic yesterday; no stop loss is an easy way to have unlimited risk. It only takes one unexpected major news event to wipe your account out while you were using the toilet.

Anyway, going to target long at 1.28330.

Attachment
only small account with big leveraged orders

If you manage to keep order size*leverage within 3-5% of acct size, you can survive 1000p movements (hypothetically speaking, I'm not saying there's a point in keeping 1000p in minus)
  • #723,187
  • Nov 27, 2012 9:31am Nov 27, 2012 9:31am
Quoting Vachus
This thread never fails to amuse me at all ... some people here are really ones of its kind !


Anyway, Bears can celebrate their short term news driven drop , BUT i'm waiting for the daily to close patiently ...( Classic senario to cluster stops above a reachable target 1.30200-400 , so it start moving fuel will be there ).
isnt ti better to win at both ends
  • #723,188
  • Nov 27, 2012 9:33am Nov 27, 2012 9:33am
Quoting keradk
only small account with big leveraged orders
In either case, I think it's foolhardy to not use a hard-stop. Every trade should be planned out from start to finish. Where are you entering? Where is your premise invalid? What is your first target? If you can't answer those questions it's better just not to trade at all.

I know some more experienced traders who run soft-stops depending on whether a bar closes above a certain level, but other people don't use stops just so they can talk themselves into staying in a trade they shouldn't be in longer in the vain hope that their money comes back.
  • #723,189
  • Nov 27, 2012 9:36am Nov 27, 2012 9:36am
Ponkers. I missed that entire move because of a meeting.
Grr. Oh well.

The move on the 5M back to 47 was a surefire short signal.
It's now on the 1H 100EMA so could be a bounce. Not sure if that would bounce back to 29+ - to me this is almost voided. Almost.

If weakness appears on the 15M I would short around 2927 or 2947 again.

2827 is definitely a target.
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A pip is only worth it if you know how much you risked to earn it
  • #723,190
  • Nov 27, 2012 9:37am Nov 27, 2012 9:37am
Quoting Kanzler
In either case, I think it's foolhardy to not use a hard-stop. Every trade should be planned out from start to finish. Where are you entering? Where is your premise invalid? What is your first target? If you can't answer those questions it's better just not to trade at all.
100% true.

It comes with experience. But people are tempted - its all psychology. I'm still a newbie btw
  • #723,191
  • Nov 27, 2012 9:38am Nov 27, 2012 9:38am
Quoting Kanzler
In either case, I think it's foolhardy to not use a hard-stop. Every trade should be planned out from start to finish. Where are you entering? Where is your premise invalid? What is your first target? If you can't answer those questions it's better just not to trade at all.
Indeed, but most new investors don't know answers to these questions and if you can't answer them it means you are gambling.
  • #723,192
  • Nov 27, 2012 9:39am Nov 27, 2012 9:39am
Low liquidity market periods allow some players to take advantage of Risk Adverse players and run any obvious HARD STOP LEVELS that are too close.

Regular high liquidity market periods aren't so easily MANIPULATED up and down quickly.
  • #723,193
  • Nov 27, 2012 9:40am Nov 27, 2012 9:40am
close to 2907, sometimes a bounce there/near. 2911.5 is another. wherever it is.. i am looking for 2976. but i am not recommending a long to it.
those who can, do. those who cant, talk about those who can
  • #723,194
  • Nov 27, 2012 9:41am Nov 27, 2012 9:41am
Quoting tankokjian
isnt ti better to win at both ends
It is , but if you wanna leave a winning position running it won't happen like that ... or you gonna have to hedge the position on another pair , which will not only increase your risk , but reduce your available margin !

I humbly think that short term bearish trend was broken in 16's of November and the monthly trend is resuming ! This mean that short position has to be quick in time and you manage to secure your position from time to time and reenter ! Other than that, you leave your self exposed to SLs filling or consume of trend or to be caught in the wrong direction with a big stop lose due to confidence that its falling ! There is nothing wrong with that , it only require devoted time that i don't have ...
"It's the Margin, Stupid."
  • #723,195
  • Nov 27, 2012 9:42am Nov 27, 2012 9:42am
Quoting MaxDoom
yep, maybe it is time to cover some ground and crack open the box 2900/20
we made the 00/20 zone
  • #723,196
  • Nov 27, 2012 9:44am Nov 27, 2012 9:44am
i am skeptical S2 will hold , unlike those risk aversion traders...
  • #723,197
  • Nov 27, 2012 9:44am Nov 27, 2012 9:44am
Long euro @ 12929, target 20 ticks


http://s17.postimage.org/shu0mwd8f/eu6.png
  • #723,198
  • Nov 27, 2012 9:47am Nov 27, 2012 9:47am
Quoting akhtergroup
Long euro @ 12929, target 20 ticks


http://s17.postimage.org/shu0mwd8f/eu6.png
What platform is this?
  • #723,199
  • Nov 27, 2012 9:50am Nov 27, 2012 9:50am
approaching lower trendline, see how this 5ema defends? close on a retest ?
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  • #723,200
  • Nov 27, 2012 9:50am Nov 27, 2012 9:50am
Quoting akedemik
What platform is this?

TT XTRADER, it's a futures platform
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