Everyone can see the chart, but only a few can actually read it.
Cable Update (GBPUSD)
- #397,741
- Sep 9, 2014 8:01pm Sep 9, 2014 8:01pm
- Joined May 2014 | Status: From1toMillion | 9,484 Posts
- #397,742
- Sep 9, 2014 8:23pm Sep 9, 2014 8:23pm
- Joined Dec 2012 | Status: On Life's Path | 2,076 Posts
With all the discussion the past few days about "position" trading & holding on during large drawdowns, I thought this chart was a good example of patience. This is a daily chart of EU(not mine) with the trades shown. I imagine there's a few in here that will have similar charts :-)
- #397,744
- Sep 9, 2014 8:55pm Sep 9, 2014 8:55pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
With all the discussion the past few days about "position" trading & holding on during large drawdowns, I thought this chart was a good example of patience. This is a daily chart of EU(not mine) with the trades shown. I imagine there's a few in here that will have similar charts :-)
As Above, So Below
- #397,745
- Sep 9, 2014 8:58pm Sep 9, 2014 8:58pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
I have Sell GBP\AUD open -180 pip, I'm going to keep it until Scotland become a separate country and GBP drop bad
As Above, So Below
Again all depends on your account size, your trades total positions DD, and your margin call level.
Some people will hold it till margin call. It can turn anytime and take them into big profits, may take months..
or keep going against them few thousand pips more till margin call.
If you can hold a loss without a margin call, all the way till price goes to 0.- you have no worries.
But then hard to make a living from 1 cent a pip.
Most of us, want to make profits regularly, and are not willing to be margin called.
Thats why even scaling in martingale position trading, whatever method people use..
its best to use Stop Losses at your max pain level, whether that be 50 pips against or 500 pips against
for most of us and just call the trade a loser.
Some people will hold it till margin call. It can turn anytime and take them into big profits, may take months..
or keep going against them few thousand pips more till margin call.
If you can hold a loss without a margin call, all the way till price goes to 0.- you have no worries.
But then hard to make a living from 1 cent a pip.
Most of us, want to make profits regularly, and are not willing to be margin called.
Thats why even scaling in martingale position trading, whatever method people use..
its best to use Stop Losses at your max pain level, whether that be 50 pips against or 500 pips against
for most of us and just call the trade a loser.
- #397,748
- Sep 9, 2014 9:32pm Sep 9, 2014 9:32pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
As Above, So Below
- #397,749
- Sep 9, 2014 9:43pm Sep 9, 2014 9:43pm
{quote} this happens all the time. now imagine you closed the loser before too late and would have kept all other profits in your pocket. since you are trading a cross pair, check out what gu and au is doing. gu is trying to hold tight against further drop but au is entering a free fall zone. draw a line where enough is enough or use other trade management methods to ease the loser. for me liquidity is far more important than holding to a loser with the hope i will break even. the most and utmost part of the trading is to learn how to lose. how...
Thanks for the information, enjoying everyday long learning process
.
I'm tired of making many samll GREEN pips, then one BIG red wash them all.
- #397,750
- Sep 9, 2014 9:55pm Sep 9, 2014 9:55pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
As Above, So Below
- #397,751
- Sep 9, 2014 10:35pm Sep 9, 2014 10:35pm
- Joined Dec 2012 | Status: Trader | 8,124 Posts
this is my daily GA chart. have 2 shorts and willing to add more at an appropriate setup. overall sentiment is down on higher TF. trade safe ppl. {image}
Oh well.
The world you desire can be won. It exists.. it is real.. it is possible..
- #397,752
- Sep 9, 2014 10:40pm Sep 9, 2014 10:40pm
- Joined Oct 2010 | Status: Trader | 21,483 Posts
Intraday only.
- #397,755
- Sep 10, 2014 1:26am Sep 10, 2014 1:26am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
1.63 is coming .... Be prepared ...
I HAVE AT LEAST BACK TO THE 10 EM WHICH AT THE SAME TIME FILLS THE GAP,,
- #397,756
- Sep 10, 2014 1:29am Sep 10, 2014 1:29am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #397,759
- Sep 10, 2014 2:04am Sep 10, 2014 2:04am
- Joined Feb 2012 | Status: Trader | 5,619 Posts
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
