Disliked{quote} still want to try some shorts up here...gonna work some pendings at 6690, risk 6700, try for 6660...Ignored
Look Sharp/Trade Tight
Cable Update (GBPUSD)
- #366,461
- Feb 27, 2014 10:22pm Feb 27, 2014 10:22pm
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #366,462
- Feb 27, 2014 10:29pm Feb 27, 2014 10:29pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #366,464
- Feb 27, 2014 10:39pm Feb 27, 2014 10:39pm
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
{quote} Please, Do not SHOW the Pictures by mimick my techniques !.. {image} These my characteristic Trading Style's {image}
- #366,466
- Feb 27, 2014 10:43pm Feb 27, 2014 10:43pm
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #366,467
- Feb 27, 2014 10:44pm Feb 27, 2014 10:44pm
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #366,468
- Edited 11:26pm Feb 27, 2014 10:55pm | Edited 11:26pm
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
{quote} @sunny0: You also bought at resistance with your entry price at 1.66975. Place your take profit at breakeven to exit this trade and you have the option of immediately selling that price for 1.6630 if it is your interest to sell. The offers at 1.6700 have not been filled as yet so the market MAY move to fill them. You should trade demo until you have acquired a trading plan that works for you and suits your personality. Cheer up- if its any consolation losing is apart of the process to learn. I have blown up accounts...
You should have exited the trade at breakeven if you had set the order as suggested. Again it depends on the spread of your GBP/USD offered by your broker.
I'm watching your trades to see how you fair out. I had set alarms at both your break even prices and the alarm for your long entry break even price went off indicating that price got to your breakeven and you should be out of that long trade and now short from the same price 1.66975 If you had decided to short as I suggested.
Pay attention to the offers at 1.6700, 1.6725 and 1.6741(which is 1 pip above the break out resistance level 1.6740)
This means you should now have two short positions running. One at 1.66975 and one at 1.66337 - what you can then do is observe at what price in between both these prices, that the market brings both your trades to breakeven and you could close out both trades simultaneously without making a loss.
HDA OUT
EDIT: Let me know what you actually did do - If your long closed out at break even, if you went short again or what? And after this, only DEMO TRADE until you have managed to find a system that works consistently for you.
The offers at 1.6700 has been filled and the stops at 1.6705 were taken out. Offers at 1.6725 and 1.6741 remain and if those get filled and the market holds above 1.6740 - you need to then close all trades - and accept your losses and do not trade real money again until you have educated yourself about the market.
- #366,471
- Feb 27, 2014 11:38pm Feb 27, 2014 11:38pm
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #366,476
- Feb 27, 2014 11:45pm Feb 27, 2014 11:45pm
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
- #366,480
- Edited Feb 28, 2014 12:10am Feb 27, 2014 11:55pm | Edited Feb 28, 2014 12:10am
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts